Taxes - how much is "just right"?

[Tennessee_tarheel]

In oight of the CBO report and much talk here about the taxes paid by various income level groups what are the DU's thoughts on the right balance?
Flat? progressive (if so what rates & levels)?, sales tax? are they too low or too high now?

[Massacure]

1. Less taxes for the poor

More trade tarriffs with countries that have cheap labour.

[Syrinx]

2. progressive, graduated

0% under $50,000

25% under $250,000

40% over $250,000

How's that? :shrug:

[RummyTheDummy]

10. Gee willakers

That's a big jump from the under 50k crowd to the 250k crowd. My wife and I make more than 50k per yer but no where near 100k, let alone 250k. Id be happier with 15 percent.

[Syrinx]

25. well I was hurrying because I wanted to watch Maher :)

But something in the neighborhood I suggested. More brackets probably. If I remembered how to do math, I would provide a formula. :)

And I'm not so sure a married couple should be treated as a single entity. But, hey, I don't claim to be an expert in these matters and you can take THAT to the bank anyway. :D

[Warpy]

12. Add a confiscatory 90% over a million

Nobody's worth a million bucks a year. Nobody.

[Baltimoreboy]

20. That would send industry fleeing to other nations

[PeaceProgProsp]

24. I think artists and athletes who generate huge profits for corporations

are worth the millions they earn, and I don't think they should have to pay higher taxes on their EARNED income than the corporate insiders pay on the dividends and stock sales they get from the corporation making money off those artists and writers and athletes.

[kiahzero]

21. How about more brackets? (n/t)

[salib]

3. Silly question

Taxes are not porridge, and I am not Goldilocks. However, one immediate and timely thought is this: When the country is at war, it is usually not prudent to try to reduce taxes.

[brainshrub]

4. We must tax everyone who works about 90%

then give all the money to unemployed lazy black single moms, who will spend it all on crack.

If the rate can get put up to 95% perhaps we could provide free, MANDATORY abortions to all women.

(I love playing to stereotypes.)

[SoCalDem]

5. Pick a time in our history when things were "good"..

"rinse & repeat"..


seriously though,

I would propose:

First 25K = NO TAX

amount over 25K up to 50K = 15%

over 50K up to 100K = 20%

over 100K up to 200K = 30%

over 200K and up....35%..


This would be for EVERYBODY regardless of how they "got" their money..investments,dividends,hourly wages, etc..

There would be NO NEED for ANY "exemptions", "deductions" etc..

No need for the "special treatment" of ANY group..

If people wanted to have 6 kids, they could..just not with a government subsidy that single or low child number families do not get..

house deductions would not be "necessary" either, because people have to live SOMEWHERE, and with the first 25K UNTAXED, a couple could earn 50K with NO TAXES, so they would not "need" the deduction like they do now..

[Warpy]

15. Progressive taxes are the way to go

However, since the real poverty rate for a family of four is $36,000 a year, levying taxes on anything under that is insane. I'd suggest also tying any progressive tax to the median wage, with that wage being reassessed every 2 years or every 3 months in times of rapid inflation or deflation.

The thing that killed the progressive tax was that it had been tied to specific dollar amounts. Thus as inflation occurred, everyone's taxes went up. This hammered the middle class and got their support for a system that transferred wealth to the rich but set their tax rate into stone.

The dirty secret in DC is that everybody knows if they want to continue to fund this country, a return to some sort of progressive tax scheme will probably be necessary, along with high tariffs on corporations that export jobs but try to use the US as their market. The problem is that everybody's afraid of doing it, since it runs completely counter to the economic dogma of the past 30 years.

[SoCalDem]

17. We can thank that pesky "librul media" that's been hammering

away with the libertarian message for 30+ years.. That's what changed public opinion..

"It's mah money".."Gubmint tax and spend liberals"..you know the phrases..

Talk radio especially has managed to convince a lot of POOR people, that the secret to THEM getting rich,is to cut taxes for MILLIONAIRES..


"My" system would still work..just raise the level to 35K for the NO tax..

[cosmicvortex20]

6. Zero

Lets see a government that can abuse my civil rights when it doesnt have fuel to run on...

[salib]

7. Sounds like the classic

Libertarian-Propertarian argument.

[cosmicvortex20]

9. Not really... show me a liberatarian that belives in no taxes...

Their all minarchists whereas Im an anarchist. Get your philosophies strait.

[Syrinx]

26. Grover, Grover is that you?

[rman]

28. Do you expect corporations to safeguard your civil rights?

Actually i agree with zero income tax. Other things can be taxed and tarrifed to 'fuel' government.

The way to get government to be of, for and by the people, is to make sure corporate power doesn't interfere with government.

[brainshrub]

30. Lets watch a government protect your rights with no fuel to run on.

How to you like your clean water?

[napi21]

8. I think the rates right now are fine. Eliminate all the exemptions!

If the current tax rates were retained, and ALL the exemptions were repealed, there would be enough $$ flowing into the treasury that they could do a real tax reduction, by % across the board. It's not the % that's causing the discontent, it's the 55,000 pages of exemptions! When I say all exemptions, that means individual and corporate too.

The only exemption I can see that is possibly justified is the personal exemption to allow for families that have 3,4, 5,and 6 children.

[Baltimoreboy]

22. That would also crush the home ownership percentage

That is a sacred cow. So is the nonprofit deducation.

[napi21]

27. You can't start with that philosophy of the whole thing dies.

If you start saying, but the home mortgage deduction has to stay, and the medial expense deduction has to stan, and the charitable deduction, and...and...and... Don't you understand, that how this mess got started! People don't buy houses because of the mortgage deduction. It's a nice little bene, but the sacred cow can die.

The Pubs keep saying the poor should be taken care of by charities and they give very generously. Well, make that deduction go away and lets see just how generous they really are.

If all exemptions were gone, even at a lower tax rate for everyone, there would be enough $$ to have a real medicare and medicaid program to help care for those really in need.

I think it's time for all the sacred cows to die.

[fairfaxvadem]

11. Good Question

I've never had any republican friends who complain honestly tell me how much they'd be WILLING to pay for what they expect, and they do have expectations, from the gov't.

Sales tax is the worst and use taxes. I look at my phone bill, and it's not the fed tax, it's the state tax that is so huge, just as an example.

I say, go with straight income tax, along w/adjustments to SS/payroll taxes upward in the ceiling limit ($100K for example). Same with state and local. Income tax all the way. Progressive rates.

And bag the rest.

Don't get me started on corporate taxes, or the lack thereof.

[DieboldMustDie]

13. 50% on incomes over $1,000,000

That's a lot lower than the top rates were in the 60s and 70s.   Definitely no sales tax.

[Cleita]

14. IMHO

the lower half of income earners shouldn't pay any income taxes and very few consumption taxes, but I am a radical.

[leftyandproud]

16. $0-$40,000 = 0% $40,000+ = 50%

wouldn't that be nice?

You make $40k, you pay $0.00

50k = 10%
60k = 15%
70k = 18%
80k = 20%

and so on...

the more you make, the closer you get to 50%

[Baltimoreboy]

23. Works for me

Nice and simple.

[PeaceProgProsp]

18. Higher taxes on unearned income. Lowest on earned income.

A sliding scale with narrow bands.

Rates adjusted every year so that we have enought to do everything we need, pay down the debt and so that that the tax burden is allocated roughtly in proportion to how wealthy an additional dollar is worth to you.

ie, if you have 500,000 in income, another dollar will be worth less to you than for a person who only has 5,000. So the tax rates should reflect that difference. And they should also reflect the difference between 500,000 and 5 mil, and 5 mil and 50 mil, and on to infinity.

[PeaceProgProsp]

19. And corp rates should be same as individual rates, if not a little

more since most corp activity is deductible and most individual expenses are not.

[Feanorcurufinwe]

29. You should never know exactly how much you owe,

and should always live in a simultaneous state of fear that you haven't paid enough, and the IRS will swoop in and seize everything you have, and hope that you've paid too much, and will soon receive a fat check.