Posted by Peter W. Schramm
John C. Goodman thinks that he has a tax reform proposal that will satisfy both the left and the right in Congress. It is a flat tax of 14% (rather than Steve Forbes’ proposed 17%, which Goodman thinks is really a consumption tax) and is more friendly to low income folks.
10:37 AM / September 30, 2005
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Of course, the taxation portion of this makes perfect sense. Not sure how I feel about the "rebate" plan (sounds like simple redistribution), or contigencies placed on said "rebates", but the plans main piece -- a high non-taxed income ceiling based on family size -- is absolutely the way to go.
One caveat in this, however; those who saw the GMB Ammendment passed in Ohio (and other states) as being governmentally intrusive would be up in arms, as Uncle Sam would have to go about defining what "family" actually meant.
Perhaps not a bad thing?
WASHINGTON (CNN) -- Congressional Democrats blasted former Education Secretary William Bennett on Thursday for saying that aborting "every black baby in this country" would reduce the crime rate, and demanded their Republican counterparts do the same.
Flat tax - just what the Hiltons, Bushes and Trumps dream of. Everyone else gets screwed. How great!
I believe that if you read the article link, you would see that the goal of these designers version of a flat tax is actually to shift a higher tax burden onto the Hiltons, Bushes and Trumps, and provide (through tax rebates) lower-income folks greater means to purchase health insurance and retirement savings. Right now, I think the biggest benefitters of our "progressive" tax structure are the very rich, as they, unlike middle and lower income people, can afford tax attorneys and accountants who can shelter a lot of their income from taxation.
Something drastic needs to be done to the nations tax structure, and I dont think that more of the same "just raise taxes on the rich" is going going to do the trick.
Nope, actually the well-off pay virtually all the income tax in this country. About 50% of filers pay about 3% or less...shameful. You may say "they" (those filthy rich bastards) can afford it, but there isnt any reason why they should have to bear almost the entire burden of (non-FICA) government expenditures. And I believe its the main reason there will be no tax reform...half of Americans are getting a free ride. Why would they want to change it?
Another set of FACTS brought to you by "Sideshow" Dain.
Dain has nailed it once again. You can find more good facts on this at Rush Limbaughs website too. The rich arent hurting me none and someday when Im one of em I dont want to pay any more taxes than absolutely neccesary. Right now they pay far too much in taxes and its probably hurting all the rest of us. 1% sounds good to me!