toldailytopic: Revamping the tax system.

[Nathon Detroit]

The TheologyOnline.com TOPIC OF THE DAY for January 6th, 2012 07:28 AM

toldailytopic: Revamping the tax system.

Take the topic above and run with it! Slice it, dice it, give us your general thoughts about it. Everyday there will be a new TOL Topic of the Day.
If you want to make suggestions for the Topic of the Day send a Tweet to @toldailytopic or @theologyonline or send it to us via Facebook.

 

[Nathon Detroit]

If you were in charge of revamping the tax code of the nation what sort of tax plan do you think would be most fair and best for your country?

- Flat Tax?
- National sales tax?
- Fair tax?
- 9, 9, 9
- Other?

Or do you think we should keep things the way they are right now?

 

[Nick M]

Well, liberals always cry about fairness, even though taxes don't exist to be fair but to fund the government. So lets make it fair. Everybody pays the same.

Divide Bammy's budget equally among 18 and over adults. Those that don't pay, work the job for free.

 

[some other dude]

A managed annual inflationary adjustment to the value of our money. That way the coffers of the government will increase and everybody's savings will decrease equally.

 

[chrysostom]

If you were in charge of revamping the tax code of the nation what sort of tax plan do you think would be most fair and best for your country?

- National sales tax?

a national sales tax might not be fair to the retired since they already paid the income tax
but
as far as I am concerned they are the ones who got us into this mess

 

[ebenz47037]

If you were in charge of revamping the tax code of the nation what sort of tax plan do you think would be most fair and best for your country?

- Flat Tax?
- National sales tax?
- Fair tax?
- 9, 9, 9
- Other?

Or do you think we should keep things the way they are right now?

I think that a flat tax would be fairest. No matter what your income, everyone pays a flat tax rate of 15% (give or take...I just picked a number out of the air.). If you make $10,000 a year, you pay $1,500. If you make $10,000,000 a year, you pay $1,500,000.

 

[Stripe]

FLAT TAX! :thumb:

 

[elected4ever]

A managed annual inflationary adjustment to the value of our money. That way the coffers of the government will increase and everybody's savings will decrease equally.

Is it your objective to drive every one to the poor house, eliminate the productive middle class and have a rich elite class to run everything? That is the objective of the Marxist /Leninist progressive, Fabian socialist of western Europe. That is the road we are on now. Hows that working out for you?:shocked:

 

[elected4ever]

No tax system will be adequate if the the currency is unstable and subject to inflation. A fiat currency is to assessable to political manipulation so it really doesn't matter the tax system under the present monetary policy.

 

[HisServant]

flat tax based on income.. with no deductions.. with basic necessities like food, clothing, rent, gas, etc. exempted. Coupled with a constitutional amendment that would put a ceiling on the tax rate that would be extremely difficult to change.

 

[some other dude]

Is it your objective to drive every one to the poor house, eliminate the productive middle class and have a rich elite class to run everything? That is the objective of the Marxist /Leninist progressive, Fabian socialist of western Europe. That is the road we are on now. Hows that working out for you?:shocked:

It's essentially a flat tax with no need for collection.

 

[elected4ever]

flat tax based on income.. with no deductions.. with basic necessities like food, clothing, rent, gas, etc. exempted. Coupled with a constitutional amendment that would put a ceiling on the tax rate that would be extremely difficult to change.

NUTS! We have that in Florida now and we still are over our heads in state debt and socialist handouts. That is not the answer.

 

[HisServant]

NUTS! We have that in Florida now and we still are over our heads in state debt and socialist handouts. That is not the answer.

That would stop if we payed government through last years receipts and forbade it from going into debt.

Most of all our debt is due to overly rosy economic forecasts.. remove that from the equation and you remove the problem.

i.e. at the beginning of the year, the state says.. we collected this much money last year and we have it in the bank.. that is all we are allowed to spend.. so lets make up the budget based on it.

 

[elected4ever]

That would stop if we payed government through last years receipts and forbade it from going into debt.

Most of all our debt is due to overly rosy economic forecasts.. remove that from the equation and you remove the problem.

i.e. at the beginning of the year, the state says.. we collected this much money last year and we have it in the bank.. that is all we are allowed to spend.. so lets make up the budget based on it.

That all boils down to monetary policy and not tax policy. There is no guarantee that the revenues would equal last years receipts. A flat tax is not predictable and neither is a fair tax. What happens now is that we print money when there is a short fall inflating the amount of money and reducing its value. That is a hidden tax that we never see. That new money is never reduced and prices continue to rise, inflating the amount of tax collected on a smaller amount of goods. So we get hit with a double whammy on taxes and productivity and wages have not gone up. We pay more and get less.

 

[elected4ever]

No consumer basted tax system will work. All it does is impoverish the consumer. Only production of consumables and manufacturing produces wealth.

 

[elohiym]

No personal income tax.

Change the monetary system.

For more information, watch:

How to end taxes for dummies

 

[elected4ever]

Step # 1 repeal all taxes at the federal, state and local levels with out exception.

A --- repeal the federal income tax amendment. and all state and local income and sales tax amendments.

B --- repeal all consumer basted value added taxes on manufactured products and services.

C --- Place a production basted Value added tax on all completed manufactured products and commodities grown or mined at the state level of a maximum of 3% to be divided with the federal government at a rate not to exceed 50% of revenues collected.

How is that for a fair and equitable tax system. It enhances maximum productivity, consumption and savings.

 

[elected4ever]

No personal income tax.

Change the monetary system.

For more information, watch:

How to end taxes for dummies

It will not work because of the retention of the fiat money and is basted on a consumer basted tax system. Like our present system it is subject to political manipulation and abuse.

 

[jwp98]

With a flat tax rate I would immediately work harder and spend more. That's still a good thing, right?

Wouldn't a flat tax amount be more fair than a flat rate? A flat rate is still very "progressive" and punishers high earners. Not realistic, just making the point. Again.

Is it a valid assumption that high earners use more services so they should pay more? Seems to me they use less. Much more self-sufficient and productive, although early in life they tend to benefit from state universities, etc.

 

[elohiym]

It will not work because of the retention of the fiat money and is basted on a consumer basted tax system. Like our present system it is subject to political manipulation and abuse.

I don't agree. It has worked historically, until allowed to be changed. The Roman republic had a long a successful history with a debt-free fiat money system, and when it was changed, Rome declined. It is the gold-backed currency that is subject to manipulation by those who control that commodity.

U.S. notes will work just fine without a gold standard.