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In reply to the discussion: Would you agree to abolishing the IRS and going with a flat tax? [View all]cherokeeprogressive
(24,853 posts)94. I think it could work actually.
NO federal income tax for singles making under $50k
NO federal income tax for married couples making under $100k
No deductions except per child, ending at X $k (to be determined)
Figure out an acceptable rate for singles above the zero tax rate
Figure out an acceptable rate for couples above the $100k mark
NO cap for SS, and means test for drawing at age 70.
BUT... Three terms for Congresscritters, and ONE six year term for Senators offset so one Senator is up for election every three years.
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Wouldn't a tax based on wealth only promote consumption and discourage savings? For example
kelly1mm
Mar 2014
#34
I don't see a problem. A poor person who wins a million should not pay the same as a rich person.
reformist2
Mar 2014
#64
It would be a good thing for everyone if the rich spent more of their money.
reformist2
Mar 2014
#65
Unless you see the link between consumption and environmental degredation. Maybe they
kelly1mm
Mar 2014
#66
No flat tax rate, period. And a 10% property tax rate will hurt all families who've managed
pnwmom
Mar 2014
#59
How do we do that if they use the legal loopholes they helped to create to avoid paying taxes? (n/t)
spin
Mar 2014
#69
Absolutely NOT! The poor get screwed and the rich do better. nt my 2 cents.
Auntie Bush
Mar 2014
#39
A flat tax would have to be at least a 29% tax on every item sold, food, clothing, everything sold
CK_John
Mar 2014
#41
NO, A consumption tax would choke the poor/middle while allowing the rich to roll their
NightWatcher
Mar 2014
#50
NO. Flat taxes are a simplistic approach that shafts the 99% and favors the rich. n/t
winter is coming
Mar 2014
#52
Any tax plan that includes "abolishing the IRS" as a positive is already starting out silly.
Captain Stern
Mar 2014
#56
The "Flat tax" is extremely regressive. Nearly as much so as the "sales tax only"
Doctor_J
Mar 2014
#68