No, I am sure he means some type of low flat tax with zero deductions. Some of you think that we dont agree with taxes at all, which is far from the case. We just don't agree that a increase in taxes is needed for the very reasons of the amount of loop holes/deductions that are out there. At least I don't. 15-19% flat tax on everyone over 60K.....Family or business, PERIOD. Zero deductions, zero breaks. If the government can't survive off of that income, then they need to cut back. This idea of a revenue problem is absurd. Are there flaws in the tax system, DUH, but it is not like they don't bring in enough cash.... Cut 1/3 from defense spending Cut 1/3 from medicare Cut 100% of the pork Introduce a flat tax with zero holes/breaks.
That would destroy the middle class and cripple the economy. If I am paying 15-19 % on my full income I am no longer going to eat in restaurants, have cable, have a cell phone, be a member at the gym, and do a ton of the other lifestyle things that keep people employed. It is a workable sacrafice for me, and others in my situation, but for the guy who collects towels at the gym, the waiter at the restuarant, and the cable guy it is a nightmare.
Zero deductions or ways to limit the amount of tax paid. Less than 50k- 8% 50 to 150k- 12% 150k to 1 million- 18% above 1 million- 22% all business in America that a majority of the workforce is American no tax burden except sosial security business with majority in other countries 8% plus social security. I pulled those numbers out my hat but it's a begining and would take power from washinton
You just described the most massive tax increase in the history of the world. It would destroy the economy.
For someone making 100k 12% is less than what I pay now. I guess the lack of deductions make it a tax hike. The numbers may be off but the concept is that the rates are lower, everyone pays instead of 47% not paying nothing, and the tax system would be simple.
15% at 60k is 9,000 a year. When I said 15% that is social security and state all lumped into one. Anyway, keeping 51k of your 60k is not destroying chit.. Either way, you are missing the point… It could be 8%, 10% or 15%, the main point is a low rate with zero deductions would increase the revenue.
