Liberal free for all coming to an end

[randolph]

Although the "flat tax" is deemed regressive, in actual practice is it really? The wealthy have many ways of minimizing or eliminating their taxes that are unavailable to the lower incomes. I suspect a flat tax would vastly simplify the tax system and provide more income for the government. Everybody should support the government.
Eliminating the sales tax, which hurts low income people, would stimulate the economy and compensate somewhat for the flat income tax.
Yeah, I know, there are plenty of arguments against this.

[GRH]

There's another thing that a LOT of people seem to have a misconception about regarding our "progressive" tax system. Some people seem to be under the impression that the wealthy pay a higher percentage of tax on ALL of their earnings and this is simply not the case. The fact is, everyone's first dollar's of earnings are taxed exactly the same as everyone else's. Up until the first marginal tax bracket, EVERYONE (wealthy and poor alike) are taxed at 10%. Then going up to the next income tax bracket, the earnings between the first and third tax bracket are taxed at 15%.

I think the right like to play a sympathy game as if the "poor", overtaxed wealthy of this country pay 35% on ALL of their earnings. The fact is, for a couple filing jointly, those 35% tax rates don't kick in except on earnings in excess of $250,000. The earnings up to that threshhold are taxed at lower rates. The wealthy would like you to believe that if they make $251,000 a year that they pay $87,850 in taxes (taxing ALL earnings at 35%). The fact is, only the $1,000 (in excess of the $250,000) is taxed at 35%.

And of course, this doesn't even begin to take into account all the deductions and favored tax rates. Yes, some people end up paying no income taxes at all thanks to all the credits and deductions available. And let's not forget that capital gains and dividends are taxed at only 15%...A major source of income for the wealthy. As a result, the EFFECTIVE tax rate that America's wealthiest pay (on total income) is in many cases lower than the income taxes paid by some of our middle class Americans.

[transjen]

I hate to burst everyones bubble but there is really no such thing as a fair tax system cause no matter the system there will be special loopholes favoring one group over everyone else inserted in or added later
Also keep in mind that no matter how many times the GOP scream about the tax and spend DEMS let us not forget that the GOP spend tax dollars just as quick the only difference is they feel the upper two percent shouldn't have to pay taxes only the poor and lower middle class should pay all the taxes
Jerseygirl Jen

[TracyCoxx]

Originally Posted by transjen

Also keep in mind that no matter how many times the GOP scream about the tax and spend DEMS let us not forget that the GOP spend tax dollars just as quick

Are you talking about GOP administrations with or without democrat congresses? And are you comparing them to democrat administrations with or without GOP congresses?

[TracyCoxx]

From Congressman Joe Walsh to Obama: Quit Lying!
http://www.youtube.com/watch?v=IVPuW...layer_embedded

[smc]

Originally Posted by TracyCoxx

From Congressman Joe Walsh to Obama: Quit Lying!
http://www.youtube.com/watch?v=IVPuW...layer_embedded

This is the ideal example of the kind of worthless, bankrupt, adolescent bullshit that substitutes for genuine discourse in the minds of many of the so-called Tea Party members of Congress and, unfortunately, at least one regular poster on this Forum.

[franalexes]

Originally Posted by smc

This is the ideal example of the kind of worthless, bankrupt, adolescent bullshit that substitutes for genuine discourse .).

(yada,yada, yada, etc. etc

This is the ideal example of the kind of worthless, bankrupt, adolescent bullshit that substitutes , yada, yada, yada,

Tracy, meet me at the Alamo.