Tax Reform

[Bright Raven]

The wealthy do pay more taxes, and will see more relief in real dollars.

When all the dust settles, it may take several years, the deficit will grow and the middle class will see no relief. About like Dave said above. No spending restraints. In other words, we are staying the course that keeps us the largest debtor nation in the Universe.

 

[True Grit Farms]

The wealthy do pay more taxes, and will see more relief in real dollars.

To a politician the definition of wealthy is someone with a job that pays taxes. Tax reform is definitely needed, but the need to cut spending and work on the deficit should be our main focus.

 

[Jogeephus]

Is it correct that the tax cuts for individuals phase out but those for businesses stay?

Yes, that's how I understand it anyway. Once the sugar is off the deal in ten years every individual will see an automatic tax increase.

I'll say it again, we need a flat tax.

 

[HDRider]

Agree, flat tax, no deductions. That said, there would be some tectonic shifts while that sorted itself out.

Most of all, shrink government, shrink spending.

 

[Bright Raven]

Is it correct that the tax cuts for individuals phase out but those for businesses stay?

Yes, that's how I understand it anyway. Once the sugar is off the deal in ten years every individual will see an automatic tax increase.

I'll say it again, we need a flat tax.

I cannot imagine Rand Paul will support it. They have to have his vote. No democrats are going to vote for it. If he crosses over, it is dead, hence, the ad pressuring him.

 

[Caustic Burno]

Is it correct that the tax cuts for individuals phase out but those for businesses stay?

Yes, that's how I understand it anyway. Once the sugar is off the deal in ten years every individual will see an automatic tax increase.

I'll say it again, we need a flat tax.

No national sales tax is what we need.
No matter where you're from you spend a dollar it's taxed.
That gets it all from drug money up if it is spent.

 

[Brute 23]

Do yall have any links to articles on this stuff?

The sales tax is the key. A flat tax will never work.

 

[HDRider]

Do yall have any links to articles on this stuff?

The sales tax is the key. A flat tax will never work.

National sales tax taxes you twice, once when you made it, and when you spend it.

A link as you requested. https://fairandsimple.gop/

 

[Caustic Burno]

Do yall have any links to articles on this stuff?

The sales tax is the key. A flat tax will never work.

National sales tax taxes you twice, once when you made it, and when you spend it.

A link as you requested. https://fairandsimple.gop/

How do you figure that?
Set it up like Texas income is not taxed.
Only sales are taxed.

 

[HDRider]

CB - I remember discussing this before with you. We never did understand each other. I know you think a FST is a good idea, and I think I see why. I'd be with you if it was ONLY new income we were talking about.

You never seemed to understand why I did not think it was a good idea. I will try to explain it again. Here goes....

My income has already been taxed, at my effective tax rate, say 17%. So my SAVINGS is after tax money. When I spend my SAVINGS, it would be TAXED AGAIN with your new FST.

 

[Caustic Burno]

CB - I remember discussing this before with you. We never did understand each other. I know you think a FST is a good idea, and I think I see why. I'd be with you if it was ONLY new income we were talking about.

You never seemed to understand why I did not think it was a good idea. I will try to explain it again. Here goes....

My income has already been taxed, at my effective tax rate, say 17%. So my SAVINGS is after tax money. When I spend my SAVINGS, it would be TAXED AGAIN with your new FST.

I understand if you spend your savings it's taxed but your income Isn't taxed unless you spend it.
It is the only fair way to make everyone pay. Tax the dollar when it is spent.
That gets the crack heads, illegals,tourists,millionaires everyone.

 

[HDRider]

CB we are heading the same place we went last time with you basically ending it saying "tough luck".

Why would I, or you, be for something that taxed us twice?

I don't earn any real money anymore. I live off my savings. I paid Federal income taxes taxes on it once when I earned it, and now you think it is a good idea to pay a new Federal tax on it again, when I spend it.

 

[Brute 23]

CB - I remember discussing this before with you. We never did understand each other. I know you think a FST is a good idea, and I think I see why. I'd be with you if it was ONLY new income we were talking about.

You never seemed to understand why I did not think it was a good idea. I will try to explain it again. Here goes....

My income has already been taxed, at my effective tax rate, say 17%. So my SAVINGS is after tax money. When I spend my SAVINGS, it would be TAXED AGAIN with your new FST.

You would do away with the income tax and replace it with the national sales tax.

 

[True Grit Farms]

CB we are heading the same place we went last time with you basically ending it saying "tough luck".

Why would I, or you, be for something that taxed us twice?

I don't earn any real money anymore. I live off my savings. I paid Federal income taxes taxes on it once when I earned it, and now you think it is a good idea to pay a new Federal tax on it again, when I spend it.

Are you a CPA? I can see your way of thinking, but we're in a bind and need your money. Millions on welfare are depending on your money HD. We don't need to call it a flat tax, just call it a US sales tax. Paying a bed tax every time we stay in a motel makes it hard to sleep.

 

[HDRider]

CB - I remember discussing this before with you. We never did understand each other. I know you think a FST is a good idea, and I think I see why. I'd be with you if it was ONLY new income we were talking about.

You never seemed to understand why I did not think it was a good idea. I will try to explain it again. Here goes....

My income has already been taxed, at my effective tax rate, say 17%. So my SAVINGS is after tax money. When I spend my SAVINGS, it would be TAXED AGAIN with your new FST.

You would do away with the income tax and replace it with the national sales tax.

I understand that.

So you think taxing our savings twice is good too, or you are not understanding what I am saying. It is one or the other.

I understand do away and replace.

 

[HDRider]

CB we are heading the same place we went last time with you basically ending it saying "tough luck".

Why would I, or you, be for something that taxed us twice?

I don't earn any real money anymore. I live off my savings. I paid Federal income taxes taxes on it once when I earned it, and now you think it is a good idea to pay a new Federal tax on it again, when I spend it.

Are you a CPA? I can see your way of thinking, but we're in a bind and need your money. Millions on welfare are depending on your money HD. We don't need to call it a flat tax, just call it a US sales tax. Paying a bed tax every time we stay in a motel makes it hard to sleep.

I am not a CPA, but I play one on CT.

I agree we are in a bind. Just tired of carrying the load for those too lazy to get off my back.

Flat tax and sales tax are two entirely different things. Nothing similar at all.

 

[Brute 23]

CB - I remember discussing this before with you. We never did understand each other. I know you think a FST is a good idea, and I think I see why. I'd be with you if it was ONLY new income we were talking about.

You never seemed to understand why I did not think it was a good idea. I will try to explain it again. Here goes....

My income has already been taxed, at my effective tax rate, say 17%. So my SAVINGS is after tax money. When I spend my SAVINGS, it would be TAXED AGAIN with your new FST.

You would do away with the income tax and replace it with the national sales tax.

I understand that.

So you think taxing our savings twice is good too, or you are not understanding what I am saying. It is one or the other.

I understand do away and replace.

I apologize but I am not following you. In your example the 17% income tax would go away. You woukd only pay when you spent your savings. I don't see the second tax.

 

[Craig Miller]

I see what youre saying hd. He has already paid tax on the money in his savings account right now and would then have to pay again as he bought stuff with that money. People like him would be out of luck on a deal like that

 

[HDRider]

See above Brute.

 

[HDRider]

I see what youre saying hd. He has already paid tax on the money in his savings account right now and would then have to pay again as he bought stuff with that money. People like him would be out of luck on a deal like that

You got it.

Anyone and everyone that spent savings would be taxed twice.