America's #1 Online Cigar Auction
first, best, biggest!

Last post 7 years ago by dstieger. 55 replies replies.
2 Pages<12
The most shocking part of Donald Trump’s tax records isn’t the $916 million loss everyone’s talking
DrafterX Offline
#51 Posted:
Joined: 10-18-2005
Posts: 98,506
teedubbya wrote:
It would be regressive.



ya, Always The Man trying to keep us working class dudes down... Mad
victor809 Offline
#52 Posted:
Joined: 10-14-2011
Posts: 23,866
MACS, I know I'm not rich. But I also know I'm well outside of the middle class people are always saying they're supposed to help. Hell, most of us here probably are.

The rich save a higher percentage, because they can.
The very poor have to spend all their income because they don't have an option to do otherwise.
The middle class are in the middle of that.

A tax on spending will hit the poor the hardest and the rich the least. I'm fine with that, since I'll come out okay... But don't pretend that's a great solution. Simply admit that you want to apply all of the poor's income to taxes and allow people to pay less taxes as they become wealthier.
DrafterX Offline
#53 Posted:
Joined: 10-18-2005
Posts: 98,506
That's only if you're trying to built stats to prove that... the poor dude will still have a higher percentage of his income to buy a loaf of bread... yes, you can buy more bread but you can do that now right? Mellow
teedubbya Offline
#54 Posted:
Joined: 08-14-2003
Posts: 95,637
while regressive, I wouldn't scrap MACS take on things. He is attempting to mitigate the issue by exempting anything that is not food/clothing. It would take some thought but with some tweaks (additional exemptions and maybe caps on what is exempted (luxury) etc.) something could prolly work. I agree we need to do something, and our tax code needs to no longer be used for social engineering/modification.
dstieger Offline
#55 Posted:
Joined: 06-22-2007
Posts: 10,889
http://www.cbpp.org/blog/top-10-federal-tax-charts-1

Some interesting stuff in here...with pictures


I fully understand that nearly all flat tax proposals are regressive. However, I think there's got to be ways to dramatically simplify the code, introduce something fairly flat (income, consumption, VAT, sales...whatever combination) with some progressive measures. I don't have the answers yet, but straight up flat sales isn't it.

I wonder what deductions can be eliminated without performing political suicide (property tax? mortgage interest? capital loss? charitable contributions? .....)

I also ponder taxes on investment income -- I do believe that too much of the (big) investor world is providing little value, but granted way too much tax leniency. On the other hand, I recognize that outsider investment fuels enterprise, entrepreneurship, small business, etc. I don't want to discourage 'productive' investing. But, I'd sure like to find a way to tax the crap out of short-sighted, hedge-type investors and firms that add less value than they take out in low-taxed profit.
Users browsing this topic
Guest
2 Pages<12