I'm tired of IRS paperwork every year -- We Need a Change Now!

Quote from BSAM:

Ten people want the President to believe in GOD.
Ten people want the President to not believe in GOD.
Ten people are too damn dumb to care one way or the other.
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i get your point. not to go off topic, but on this particular part... i don't know anyone who expects the president to be an atheist, but i know plenty of devout religious people who don't want a president with a strong religious agenda

would also add that one doesn't necessarily have to be dumb to feel apathy
 
The Republic of San Marino was founded on 301 AD and it's still standing...
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According to Wiki, this is correct, http://en.wikipedia.org/wiki/San_Marino

Fascinating... Thanks for correcting me...

Oh, here's the tax policy for The Republic of San Marino...

1) The corporate profits tax rate in San Marino is 19 percent.
2) Capital gains are subject to a five percent tax.
3) Interest is subject to a 13 percent withholding tax.
4) And a VAT tax.
 
Quote from MGB:

According to Wiki, this is correct, http://en.wikipedia.org/wiki/San_Marino

Fascinating... Thanks for correcting me...

Oh, here's the tax policy for The Republic of San Marino...

1) The corporate profits tax rate in San Marino is 19 percent.
2) Capital gains are subject to a five percent tax.
3) Interest is subject to a 13 percent withholding tax.
4) And a VAT tax.
More...
lol.... nice way to bring the thread back on track.

;)
 
I'm running for President in 2012 (not). Here's my tax policy.

Taxes on Capital Gains or Dividend Income
I propose no taxes on Capital Gains or Dividend Income.

Taxes on Capital Gains or Dividend Income actually penalizes you. The more profit you make, the more you have to pay. However, In the Bible, the more profit you make the more you are rewarded. Both the parable of the talents (Matthew 25:14-30) and the parable of the minas (Luke 19:12-27) conflict with the notion of a tax on capital gains. “For to everyone who has, more will be given, and he will have abundance; but from him who does not have, even what he has will be taken away.” In other words, the Bible implies that those who do well (invest) with what they have will be given more.

Progressive Income Taxes
I propose a single tax rate regardless of your income.

The current income tax structure in the United States mandates a higher tax rate or percentage the more a person makes. This tax system is contradicted by scripture, especially Exodus 30:11-15, which provided a “half a shekel” tax for everyone numbered. Verse 15 states: “The rich shall not give more and the poor shall not give less than half a shekel.” In addition, the Biblical Tithe is not applied progressively, rather it is applied equally to everyone (“And all the tithe of the land, whether of the seed of the land or of the fruit of the tree, is the Lord's. It is holy to the Lord. . . .And concerning the tithe of the herd or the flock, of whatever passes under the rod, the tenth one shall be holy to the Lord.” Leviticus 27:30,32).

Inheritance Taxes
I propose no inheritance taxes.

The Bible speaks to the issue of inheritance numerous times. Proverbs 13:22 states “A good man leaves an inheritance to his children's children” (something that is not likely with the current Estate Tax which can take up to 55% of an estate, leaving 45% to the children; when the children pass it on to the grandchildren, up to 55% of the remaining 45% can be taken, leaving only 27% of the original that would be passed on to the “children's children”). Ezekiel 46:18 states that “the prince shall not take any of the people's inheritance by evicting them from their property; he shall provide an inheritance for his sons from his own property, so that none of My people may be scattered from his property.” Other scriptures that deal with inheritance are Proverbs 19:14, I Chronicles 28:8, and Ezra 9:12.

Enjoy...
 
Quote from MGB:

Progressive Income Taxes
I propose a single tax rate regardless of your income.

The current income tax structure in the United States mandates a higher tax rate or percentage the more a person makes. This tax system is contradicted by scripture, especially Exodus 30:11-15, which provided a “half a shekel” tax for everyone numbered. Verse 15 states: “The rich shall not give more and the poor shall not give less than half a shekel.” In addition, the Biblical Tithe is not applied progressively, rather it is applied equally to everyone (“And all the tithe of the land, whether of the seed of the land or of the fruit of the tree, is the Lord's. It is holy to the Lord. . . .And concerning the tithe of the herd or the flock, of whatever passes under the rod, the tenth one shall be holy to the Lord.” Leviticus 27:30,32).

[/B]
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Hmm... interesting... so the concept of flat tax isn't that new...
 
Quote from eusdaiki:

Hmm... interesting... so the concept of flat tax isn't that new...
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I'd read that in China the income tax was really a "head tax"... same amount for everybody. DemoCraps would argue that such a thing is "regressive". Personally, I could go for that.

I haven't heard whether the tax structure has change since they've become more capitalistic.
 
Excellent Commentary All
............................................................................................

The most important point that must be completely understood by the next new leadership is that the US is at a crossroads ...and needs a means to better the US situation versus its peers...

This is the major point...

How does one establish a better valuation of the US businesses and currency ? Once having done this, there is more money to spread around while individual freedoms are dramatically increased...

Here is a simple example...

The value of a 10 year bond is worth more...if the net income from the bond increases...given the same level of risk...

Legal costs...whether from legal largesse or taxes reduce the net income...and therefore devalue the bond...

Let´s examine a recent US Government stroke of the pen and its valuation impact...ie take the tax reform act of 1986...at the mere stroke of a pen...commercial real estate dropped dramatically because of a broad based legal change...Many people were wiped out..

What needs to happen is for tax revenue to increase as the tax base increases...not for taxes to increase as the bases decrease...
................................................................................................

Make no mistake...a consumption tax will win the valuation game hands down...

All companies who are now domiciled in other countries will want to domicile in the US...

The psyche of the American people will be uplfted like the US has never seen before....

It will be as if everyone won the Superbowl....and cannot wait till the next game !!!

US growth and valuation will be beyond amazing !!!
 
Everyone is making it way way too complicated. The tax system is just fine. Well not fine at all but the basic setup would be ok. It is the spending that is messed up. There is nothing wrong with a progressive tax system if the spending is anything close to being conservative. The system is complicated for one reason to collect more revenue for the government to spend, period. The flat tax crowd doesn't get it, the government will collect the same amount of taxes or MORE taxes with that system. Do you really think the flat tax will save you money. The only ones who may benefit are the wealthy, the middle class will get slammed hard. Do you think the working poor will help with the tax load, they are not making enough to live on as it is. The flat tax may save a little time and expense on CPA's for individuals but not for business owners. Cut the spending first then the tax rates will go down. There isn't much of a chance congress can or would reform the tax system, that leaves only one option, cut spending.
In my opinion all the tax system change talk means nothing until the public demands congress to cut spending. But we all know that isn't going to happen, people vote for who brings home the bacon, republicans as well as democrats.
 
Quote from bigarrow:

".... There is nothing wrong with a progressive tax system...
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Maybe when (IF) you ever get to the point that you are paying top tax rates, you'll then see what's "wrong" with it.
 
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