Happy Tax Day!!! Aren't you happy?

[Buck]

The total tax intake is enormous. And spending is even worse.
http://www.usgovernmentrevenue.com/year_...30#usgs302

Total Direct Revenue: $18,628.50 per person (not per household)

Federal: $9887.10
State: $5131.20
Local: $3610.20

[TLB]

Lux Interior wrote:
Yes.

Flat tax!

33.3% of all regular income and 50% of dividends and capital gains!

I'm in if the 33.3% includes SS, Medicare, Federal, state, city and school district income taxes and if the gov't returns 50% of all investment losses--shared profit, shared risk. I'll even leave sales tax as is, as long as it can't increase without referendum.

[cbelt3]

[Lux Interior]

TLB wrote: if the gov't returns 50% of all investment losses

Nope. Can't even deduct the losses against gains because this is a flat tax.

No deductions, no loopholes.

[Buck]

Yes. This is the original postcard tax return.
Now, it should be an online postcard size form.

cbelt3 wrote:

[freeradical]

Lux Interior wrote:
50% of dividends and capital gains!

I'd be OK with this as long as the corporate tax was zero.

[sekker]

This is my son's birthday - and the ONLY grandchild of my FIL whose birthday Grandpa remembers..!

[Bill in NC]

Our system heavily favors those receiving income from capital instead of wages.

On an 'early retirement' website, one article (a few years old now) pointed out that a married couple could have only around $20,000 in earned income before paying federal income tax.

But that same couple could receive over $70,000 in dividends from qualified investments before federal tax would be owed.

This is nothing new - even in the 1950s federal tax on long-term capital gains was only 25%.

[Speedy]

I like the flat tax. It will facilitate a massive transfer of wealth to the very richest taxpayers. I, like others who advocate for a flat tax, want to see the rich get far richer far faster as the rest of us get relatively poorer. And poorer. Flat Taxers like me always like to get something for nothing. I want lower taxes so my roads fall apart even faster, my sewer and water system turn to junk, my schools fall further behind the rest of the developed world's, my cops work on commission even more (I love those revenue stops for my burned out tail light) and the fire department only puts out fires for those who pay per fire in cash (I've never had a fire call and never will.) I also want Social Security and Medicare to go away. Let the old die poor and quickly. I love these benefits the flat tax provides!

Right now, in my state, which has a progressive income tax, the rich pay less in total state and local taxes than the middle class thanks to the flat sales tax. The sales or value added taxes are great ways to shift the tax burden to those who can least afford it. We know the rich provide all the jobs so let's let them get even richer so we have more jobs. Give the rich the great flat tax and value added tax gift and we will all be working. In fact, we can facilitate the creation of more jobs by ending wages entirely. Let those job creators (where and why have I stopped hearing that term lately? Frank Luntz?) create lots of jobs and pay no wages to workers. We had that for many workers prior to 1865 and it worked great!

And for all you Flat Taxers, now that you have filed your taxes, please post the percentage of all taxes you paid last year. Include income taxes, FICA, Medicare, estimated sales taxes, license taxes (but not fees, Flat Taxers love fees), taxes on utilities, gas tax, property taxes, etc. Just the percentage paid compared to your gross income, not the actual tax in dollars, no need to disclose your $$ situation. You might be surprised at how little you actually pay. I won't be surprised at how little you actually paid because I know it isn't much compared to what you get.

The progressive income tax is the best bang for your buck.

[robfilms]

i paid my taxes.

i'm not complaining.

where i live there is water, and roads, and teachers, and libraries, and a fire department and even some police.

i'm told there is also a navy, army, air force, marines and coast guard all looking out for my best interest.

i look around this wide wild world, and i can only imagine the number of people who would do anything if only they would be able to pay united states taxes.

ymmv

be well.

rob