"Republican U.S. presidential candidate Rand Paul is proposing that businesses and individual Americans pay a federal flat tax of 14.5 percent in a plan that would cut the government's tax revenue by more than $2 trillion over 10 years."
This essentially means that most Americans would be paying about twice as much in taxes, only for the government to have less revenue to use for the benefit the country.
Originally posted by quackquack The problem with the system is that it allows the government to "sell" favors. The government gives its favorite groups favorable tax treatment. While sometimes a tax break may be legitimate, the perception often (including by many on this site) is that individuals who are connected can avoid their fair share of taxes through loopholes. Besides being fairer a flat tax could help avoid the influence of lobbying.
The government "sells" favors because the rich control the government. Both the GOP and the Dems have been bought. The U.S. has turned the corner and is no longer a democratic republic. We are a plutocracy. Many of us vote for whomever we feel is the lesser evil.
Originally posted by Phranny The government "sells" favors because the rich control the government. Both the GOP and the Dems have been bought. The U.S. has turned the corner and is no longer a democratic republic. We are a plutocracy. Many of us vote for whomever we feel is the lesser evil.
When the lesser of two evils gets elected he then claims that the US people wants him to implement his plan. In fact, the US people disliked his plan less than the other guy's.
Originally posted by Phranny The government "sells" favors because the rich control the government. Both the GOP and the Dems have been bought. The U.S. has turned the corner and is no longer a democratic republic. We are a plutocracy. Many of us vote for whomever we feel is the lesser evil.
The masses through their overwhelming voting power control government and the government exchanges favors for votes all the time.
Originally posted by quackquack The masses through their overwhelming voting power control government and the government exchanges favors for votes all the time.
The masses are easily manipulated by way of propaganda, aka the news media.
Originally posted by quackquack The masses through their overwhelming voting power control government and the government exchanges favors for votes all the time.
The masses can vote but the candidates are really not chosen by the masses. A third party candidate who might not be bought has too little access to media which is controlled by the rich.
Originally posted by Phranny Yes, not taxing capital gains as income is a loophole. The uber rich make their money on investments, not a "salary".
It's not a loophole. It a decision by the government to balance the fact that the government collects taxes at the corporate level and that they don't have to incur certain liabilities like Social Security, Medicare, Medicaid and unemployment benefits on that payment.
Stop crying in the end, with a graduated tax system, the more money you make the more oppressive your tax bill is.
Originally posted by vivify "Republican U.S. presidential candidate Rand Paul is proposing that businesses and individual Americans pay a federal flat tax of 14.5 percent in a plan that would cut the government's tax revenue by more than $2 trillion over 10 years."
This essentially means that most Americans would be paying about twice as much in taxes, only for the government to have less revenue to use for the benefit the country.
I'll pass.
That assertion seems impossible to square with the actual details of the proposal:
All deductions except for a mortgage and charities would be eliminated under the proposal. Paul said the first $50,000 of income for a family of four would not be taxed and that for low-income working families, the plan would retain the earned-income tax credit.
"My tax plan would blow up the tax code and start over," Paul wrote.
His proposal also would eliminate the payroll tax on workers and several federal taxes including gift and estate taxes, telephone taxes and all duties and tariffs.
Originally posted by sh76 The details (i.e., the numbers Paul chose) are just a footnote. It's mainly a philosophical issue: should the tax code be used to engineer social policy?
Paul obviously doesn't think so. I say it's okay. For example, tax credits or deductions for people insulating their homes or installing solar panels would be eliminated under Paul's proposal. Is it a bad t ...[text shortened]... ou want to cut deductions and exemptions, a progressive system makes more sense than a flat tax.
No, I don't think the details are a "footnote". The details in this case mean that progressivity is retained and perhaps even increased.
I'd be willing to give up some probably useful policy in order to reduce the unfairness and arbitrariness of the present system as regards overly favorable treatment of certain types of income mainly flowing to the wealthy. Tax deductions and credits are not the only way to make policy.
Originally posted by no1marauder Republican U.S. presidential candidate Rand Paul is proposing that businesses and individual Americans pay a federal flat tax of 14.5 percent in a plan that would cut the government's tax revenue by more than $2 trillion over 10 years.
The Kentucky senator's plan, which he describes in a Wall Street Journal's opinion piece being published on Thursday, ...[text shortened]... ated. But I think the proposal itself is not a bad starting point for discussion.
So discuss.
The flat tax has already been proposed and rejected by the IRS and the American people in the last couple of elections. This idea is stupid and no one is going to go for it except the rich that only care about themselves. Rand Paul has some good ideas like his father, but he is going to ruin any chance he has of becoming President, just like his father did, if he doesn't stop supporting stupid ideas. 😏
People talk about loopholes a lot but what does that mean?
A loophole is a provision written in the tax law that allows people, corporations, etc. to reduce their taxes in an unfair way. It may be wriiten that way intentionally for those lobbying for the loophole or unintentionally by legislators. It is up to the legislators in congress to rewrite the tax law that allows a loophole if they wish to remove a loophole.
Originally posted by no1marauder That assertion seems impossible to square with the actual details of the proposal:
All deductions except for a mortgage and charities would be eliminated under the proposal. [b]Paul said the first $50,000 of income for a family of four would not be taxed and that for low-income working families, the plan would retain the earned-income tax credit.
...[text shortened]... veral federal taxes including gift and estate taxes, telephone taxes and all duties and tariffs.[/b]
So what Rand is really proposing is a different progressive tax, but he calls it a "flat tax" to appeal to libertarians. Nice.
Originally posted by no1marauder Republican U.S. presidential candidate Rand Paul is proposing that businesses and individual Americans pay a federal flat tax of 14.5 percent in a plan that would cut the government's tax revenue by more than $2 trillion over 10 years.
The Kentucky senator's plan, which he describes in a Wall Street Journal's opinion piece being published on Thursday, ...[text shortened]... ated. But I think the proposal itself is not a bad starting point for discussion.
So discuss.
what else comes with this tax plan?
right now i hear the US has a slight (sarcasm) deficit. he plans to reduce everything, does he say how he plans to make up the difference?
Rand Paul's Flat Tax Plan
18 Jun '15 18:191 edit
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