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Flat tax is the best. Everybody from the lowest paid to the highest paid pay 10% on all earnings and income and that goes to the fed gov. A 5% sales tax on all purchases made goes to the state. Every other tax gone. Both would have so much money they wouldn't know what to do with it.
Would that include corporate earnings? Or Corporate profits? And a 10% income tax on families earning under $40k with a couple of kids would be buried alive.
I actually like the national sales tax. No taxes on earnings at all - you keep your check. If you save, you pay no tax. Any interest or dividends under $10k per year would be tax exempt. ($1M = $30k annual interest) Salaries $200k+ - flat rate - Fed 3%, State 2% - Local - 2% - employer deducts & sends in)
Groceries (excluding soda & candy) are tax exempt. Clothing articles under $50 are tax exempt. Education (tuition & books only) - tax exempt.
Rates: Fed - 3%, State - 3% - Local - 2%
Singles earning less than $25k, families earning under $30k with an additional $15k added for each child can file for tax exempt IDs (issued same as driver's licenses) to be swiped at check out (using V/MC terminals) to deduct 2% of Fed, 1% of State and 1% of Local at checkout. Fee for ID - $10, issued with employer salary statement annually. Soc. Sec. optional, gov. matching % up to x amount. No early withdrawals. Employers to also file all salary statements with fed, state and local as currently doing. If taxpayer found to not be presenting all (or proper) salary statements when applying for tax exempt ID - jail time.
Foreign Nationals - no tax exempt status until citizenship is awarded.
Property tax on ANY property valued under $100k gone. Property tax on all property valued over $100k+ billed annually - Fed 3%, State 2%, Local 2% but tax exempt IDs applied for deduction. Cars are licensed by state as usual, included in sales tax rates. Property tax on automobiles - gone.
I'm sure there a thousand holes - but I just came up with that in the last 10 minutes.
[2 points]2 years ago by sillynillyReplyEdited 2 years ago by sillynilly
United States
I believe a flat tax would be a fair tax.
agree!
This comment was deleted.
[1 point] 2 years ago by deleted user ReplyFlat tax is the best. Everybody from the lowest paid to the highest paid pay 10% on all earnings and income and that goes to the fed gov. A 5% sales tax on all purchases made goes to the state. Every other tax gone. Both would have so much money they wouldn't know what to do with it.
Would that include corporate earnings? Or Corporate profits? And a 10% income tax on families earning under $40k with a couple of kids would be buried alive.
I actually like the national sales tax. No taxes on earnings at all - you keep your check. If you save, you pay no tax. Any interest or dividends under $10k per year would be tax exempt. ($1M = $30k annual interest) Salaries $200k+ - flat rate - Fed 3%, State 2% - Local - 2% - employer deducts & sends in)
Groceries (excluding soda & candy) are tax exempt. Clothing articles under $50 are tax exempt. Education (tuition & books only) - tax exempt.
Rates: Fed - 3%, State - 3% - Local - 2%
Singles earning less than $25k, families earning under $30k with an additional $15k added for each child can file for tax exempt IDs (issued same as driver's licenses) to be swiped at check out (using V/MC terminals) to deduct 2% of Fed, 1% of State and 1% of Local at checkout. Fee for ID - $10, issued with employer salary statement annually. Soc. Sec. optional, gov. matching % up to x amount. No early withdrawals. Employers to also file all salary statements with fed, state and local as currently doing. If taxpayer found to not be presenting all (or proper) salary statements when applying for tax exempt ID - jail time.
Foreign Nationals - no tax exempt status until citizenship is awarded.
Property tax on ANY property valued under $100k gone. Property tax on all property valued over $100k+ billed annually - Fed 3%, State 2%, Local 2% but tax exempt IDs applied for deduction. Cars are licensed by state as usual, included in sales tax rates. Property tax on automobiles - gone.
I'm sure there a thousand holes - but I just came up with that in the last 10 minutes.
This comment was deleted by sillynilly .
[1 point] 2 years ago by