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Aus Der Box Skeptisch

How would you simplify the tax code?

39 posts in this topic

How would you simplify the tax code?

I haven't had any real in depth discussions with anyone yet on this so I'm going to just throw something out there and see how it flies.

I would like to see te tax code drop from over 2000 pages to under 5.

I would like to see a flat tax of between 10 to 15 percent across the board. No fancy loopholes just a simple flat tax.

If after putting in to social security and Medicaid and also after health insurance, you pull in 1000 on your paycheck I feel 100 to 150 in taxes is not to much to ask. Kiss rules keep it simple stupid... LOL.

If you make less per paycheck such as an example of 300 you would pay 30 to 45 of that in taxes.

If you made more such as 10000 per paycheck it would be 1000 to 1500. Nice and simple easy to figure out and everyone would do the same no matter what you make.

what do you all think? This was just an example to start the ball rolling. As I said I have never had any in depth conversation and I would like to see where this takes us.

Do you have a better solution? The current model is too rife with loopholes and deductions.

So I hand the ball to you guys now. I hope this discussion continues.

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I also advocate a flat tax. The rate is debatable but the concept is completely fair. I would exempt people who are below the poverty line but I would never tax anyone else at a higher rate. Also - NO extra taxes like a VAT to accompany the income tax. The economy has a level of debt world wide that is unsustainable and I believe a collapse will happen in months. When this occurs there will be a chance to "reset" our priorities and obligations. If say 18% were charged to everyone across the board with no deductions of any kind for any one then we put in place laws preventing spending over our income except in time of a DECLARED WAR, I believe America would prosper in ways it never has before. There would be enough money for defense and for feeding and caring for the sick who are truly indigent. No more benes for immigrants or for thieves. America CAN be better but we have to exercise our common will to be so.

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Posted (edited)

Less than 15 K per year no income tax / no deductions for kids, no deductions for spouses

15001 to 25000 10% tax no deductions / family income is always considered one income regardless of who/how many are working.

25001 to 50,000 20% tax no deductions /

no deductions for multiple homeownership unless a business license is used to rent out the extra homes at which point repairs are considered a business expense and are not deducted under income

50,001 to 200,000 25% tax no deductions /

200,001 to 1 million 35% tax no deductions /

above 1 million 40 % tax no deductions /

above ten million 50% tax no deductions / over 65 age deduction 25% allowed for this amount

over age 70 no income tax is levied unless income is in excess of 100,000 per year 25% above $100K 50% over $1 Mill

no deductions for interest payments on credit cards or loans of any type

alimony and child support are both considered income and is taxed as income by whomever receives it. Alimony and child support are both tax deductible to the person paying it. It must benotarized and recorded each month. Who paid what to whom. No exceptions (personally I think that alimony is or should be illegal

All perks are considered income be they a trip to the golf course or anywhere else, or stock options or, an ice cream float paid for by the company.....

dividends on stocks, bond and mutual funds is considered income, if said income is greater than $500. a year it is taxable income and the total is added to the base above. Exception being US savings bonds during war time. Interest earned on savings accounts and cds in excess of $ 500 a year ( exception would be IRA CDs which become income when the money is removed) business dinners are NOT deductible, for the business or the employee. In this world of instant connections via the internet you don't need to take them to dinner to discuss something anymore.

Tips are a gift, or a Thank you as you choose to believe it so the first $10K in tips received each year are tax free, all amounts above that first $10K are added to the base wage. above tips MUST be RECORDED. A tax form would be required.

gifts; the first $10K in gifts each year are tax free anything above that is added straight to the base income a tax form would be required.

lotteries; Lottery winnings are considered income BUT if any government gets any monetary gain from a lottery, ( such as state sponsored and multi-state lotteries) then that government cannot charge any form of tax for the prizes that might be won in that lottery. Be they monetary or items such as cars and trips and dinners for four.

Life insurance tax deduction are limited to costs of funeral ( burial or cremation)and the memorial, life ins amounts above and beyond funeral costs are taxable as income to those who get the payment.

medical payments from insurance to medical providers are NOT considered income for the patient because the patient never touches the money and because the payment was bought and paid for by or for the patient and cannot be taxed as income.

for the first million dollars per person there is NO inheritance tax as that income has already been taxed at least once. after that first million 50% tax

interest payments of any type are not deductible. No exceptions

school loan payments are NOT tax deductible, no exceptions

child care is NOT tax deductible. No exceptions

Unless you have a business license servants / household employees are Not tax deductible on your income and they must be paying income taxes for you to be using them as a deduction.

we don't care who owns them private planes and business trips are not tax deductible.

taxes from other governments within or outside the USA are Not tax deductible

social security is NOT taxable unless fraud is proven in which case it must be repaid in full + income taxes as above as a penalty + lawyers fees

Money from employment in other countries is not taxed unless and until it enters the USA and then it is considered income. If used to buy something the price of the item bought is considered income as soon as it enters the states.

Military pay In times of war and or any other foreign deployment the military income gains a 50% income tax deduction when deployed and if the military personal is killed in the line of duty during deployment the family gets 100% income tax deduction for that year this is only for the military payroll and does not effect civilian job income. Military disability income is not taxable if disabled while deployed or in the discharge of military duties. Military life ins is not taxable if the military personal died on duty, on base or while deployed into a combat situation at the time of death

Healthcare is NOT a for profit business, therefore there is a 100% profit tax on health care. This shall include but not be limited to health care, healthcare machines, manufacturing medications, buildings, research, if you make more than you spend you will be taxed on it.

Furthermore medical research grants must be paid back IF whatever was researched is put on the market. ( + interest)

75% off shore profits tax If the companies business headquarters is not on American soil then there is a profits tax on every dollar that leaves the country.

price gouging tax. Any company found guilty of price gouging will be required to pay a 200 % profits tax,+ penalties + lawyers fees. This must be vigorously enforced and prosecuted .

money hoarding tax any business that does not reinvest profit or distribute said profits to investors, somehow within two years is taxed as money hoarding income and taxed at a rate of 101% If your not going to use it then the government will

Being as illegal aliens do not normally pay income taxes, employing illegal aliens costs a+ 25% penalty to the income tax of the CEOs board of directors and or business owners. Exceptions “ harvesting produce” a special license would be required to employ illegal or migratory aliens for the purposes of harvesting food products. This license would cancel the 25% penalty.

politician tax +15% for any politician that gets bonuses, trips, gifts or perks as a part of their job. Including government paid vacations, that are Above and beyond the normal two weeks that a normal government employee would get each year

Political donations for the purposes of getting someone elected are NOT tax deductible no exceptions no excuses.

Personal out of pocket Campaign moneys used are not tax deductible. Any and all extra ( donated) funds from campaign funding must be donated to the government you were running in, after the campaign is over. Even if they came out of the candidates pocket.

being found guilty of Breaking Tax laws requires instant confiscation of everything that the law breaker owns Except two full pairs of clothing and a toothbrush.

this is my suggestion for the start of a new and equitable tax system. Granted it is just a start, I am no expert so do not know how it would work. In addition it would reduce government spending on printing checks for tax refunds and such. I have no idea how to make it happen or what wording would be used, but it is my belief that any law or tax that cannot be understood by an average ten year old should be re-written so that it can be understood by an average ten year old ….. this is illegal, no exceptions.... this is the tax, no exceptions.... this is the punishment, no exceptions.

Edited by mysticwerewolf

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Everyone pay 10%, it's taken directly from you wages.

Businesses pay based o what percentage o thei business is DONE in the country. Anythingover 50% of their business earns a 10% tax, it decreases if they do les then 50% pf their business. No "off shoring assets" o anything, it's based on revenue generaed within the country.

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Posted (edited)

when I said no deductions in the previous post I meant just that. right now as a single male I get 1 deduction, if/when I get to 65 I get another, if I become blind I get another, If I find the right Lie and don't get caught I get another if I adopt a child I get another and if that child is blind I get another.

I also believe that SS and Medicare and unemployment Ins. ( which you pay for every paycheck) should NOT be considered taxable income .

road tolls should be illegal, if the road got even one penny from tax money if you pay for something with tax monies tolls are ripoffs ( theft) by the government and should be treated as such.

granted I am no one and know nothing about the subject but I have thought about this for a long time now.

and I forgot one of the most important one

ONLY ten percent of money donated to ANY charity is income tax deductible. and if that money leaves the USA the deduction vanishes ( becomes 0%)

Edited by mysticwerewolf

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Posted (edited)

You nailed it. I had this in another discussion with a better breakdown.

10% Flat Tax. No " write offs ", straight 10% on every penny you make.

A average family with 2 full time working adults - $76,000......Tax's - $7600 ( and this is what people think middle class is, that is wrong, try $250,000 a year )

Middle Class - $250,000......Tax's - $25,000

Uppers - $1,000,000 ......Taxs - $100,000

income-distribution.png

That is a graph from 2009......Do the numbers on a 10% straight tax, with population and income......Might even be able to go 7% or less.

2005 USA total income was - $10,476,669,000 .......10% of that.......$1,047,666,900

I am having a hard time finding " actual tax's paid " in 2005, total, in the US.....

Now, the other side, what happens to State Income Tax?

Also, side note, legalize Pot, tax it.....Prostitution as well.....There goes your State Tax..... :)

I will run for Prez soon.....

Edited by Sakari
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Sakari go on a flat tax platform and you'd already have a leg up on any other candidate. If the other parts of your platform are also as logic based then I don't see why you wouldn't get my vote ... LOL

Sakari 2016 !!!!

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Sakari go on a flat tax platform and you'd already have a leg up on any other candidate. If the other parts of your platform are also as logic based then I don't see why you wouldn't get my vote ... LOL

Sakari 2016 !!!!

Just need the $$$ backing....No way could a working man like me compete against the corporate and rich folks candidates........ :)

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How about a YouTube/um grassroots approach? :)

Heck we can put you on gofundme.com and spread the word...

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Refuse corporate sponsors also please that devil money is not worth the "interest"

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I am having a hard time finding " actual tax's paid " in 2005, total, in the US.....

For all of it? Including State, Federal and Local - 4.423 Trillion dollars worth.

Source: http://www.usgovernmentrevenue.com/yearrev2005_0.html

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For all of it? Including State, Federal and Local - 4.423 Trillion dollars worth.

Source: http://www.usgovernm...rrev2005_0.html

For personal tax only....Federal only.

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It really is easy, as step tax according to actual income and no exceptions. Would fit on one page.

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Posted (edited)

I like the idea of a low flat tax that is paired with a national sales tax so that everyone pays something, but the more you consume, the higher tax you pay.

I also like the idea of that flat tax NOT coming out of your paycheck. I'd like to see folks getting an annual or periodic tax bill so they know exactly how much they are paying and it's not hidden in their paycheck.

But unfortunately I don't see any of this changing because there's way too much money made in the tax industry.

Edited by Rafterman
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Fair tax, flat tax. I'm up for either. Don't have time to get into it but anything beats what we've got now. BTW, I think the tax code is more like 90,000 pages and not 2,000. Consumption tax which I believe is the fair tax is awesome. Imagine getting a cash paycheck, legally, and paying only a higher sales tax and only on new products, not used. Everybody pays, even drug dealers, illegals and criminals. And in a way, you get to decide how much in taxes you want to spend.

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For personal tax only....Federal only.

Then 2.133 trillion.

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Fair tax, flat tax. I'm up for either. Don't have time to get into it but anything beats what we've got now. BTW, I think the tax code is more like 90,000 pages and not 2,000. Consumption tax which I believe is the fair tax is awesome. Imagine getting a cash paycheck, legally, and paying only a higher sales tax and only on new products, not used. Everybody pays, even drug dealers, illegals and criminals. And in a way, you get to decide how much in taxes you want to spend.

That would work if you want those who don't earn enough to feed their family to get from what you paid to compensate for the taxes they paid... also known as food stamps.

For me it is quite easy, for the first 15,000 nobody pays taxes (no matter how much they make), for the first 15,000 to 30,000 5% for the first 30,000 to 500,000 10% and for anything above 500,000 15%. No exceptions.

So, a guy earning 500,000 would pay:

to 15,000 -> $0

to 30,000 -> $750

to 500,000 -> $45,500

total ----------> $46,250

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No income tax, let everyone earn all they can!

BUT tax everyone, corporations, too, equally with no deductions when they spend or transfer money anywhere. The rate could be very low...

And to make this system work, ban all lobbying, corporations can't vote and should not have a say with governments..."for the people' by the people...". If corporations want to influence gov't, they should have to convince the people first!

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Then 2.133 trillion.

Is that paid, end result.

Not taken out of checks and such, then write offs done later.

Not to sure how much I want to get into this :)

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Reagan wanted to do this, at 16%.

Bush, then VP, seriously resisted it. Hmmmm! makes ya think.

I fully support a flat tax of 16% or less.

How would you simplify the tax code?

I haven't had any real in depth discussions with anyone yet on this so I'm going to just throw something out there and see how it flies.

I would like to see te tax code drop from over 2000 pages to under 5.

I would like to see a flat tax of between 10 to 15 percent across the board. No fancy loopholes just a simple flat tax.

If after putting in to social security and Medicaid and also after health insurance, you pull in 1000 on your paycheck I feel 100 to 150 in taxes is not to much to ask. Kiss rules keep it simple stupid... LOL.

If you make less per paycheck such as an example of 300 you would pay 30 to 45 of that in taxes.

If you made more such as 10000 per paycheck it would be 1000 to 1500. Nice and simple easy to figure out and everyone would do the same no matter what you make.

what do you all think? This was just an example to start the ball rolling. As I said I have never had any in depth conversation and I would like to see where this takes us.

Do you have a better solution? The current model is too rife with loopholes and deductions.

So I hand the ball to you guys now. I hope this discussion continues.

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Reagan wanted to do this, at 16%.

Bush, then VP, seriously resisted it. Hmmmm! makes ya think.

I fully support a flat tax of 16% or less.

16%

That would be almost 2x what I normally pay. And I have no deductions.

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16%

That would be almost 2x what I normally pay. And I have no deductions.

No offense here. I think you are underestimating what you really pay. With all taxes combined,not including sales, we normally pay around 33%. That is what I would put back to save if I were going into business for myself at present. That is what I tell people to do. Your income is not all yours. Assume that a third of it will go to the government, local, state and national.

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No offense here. I think you are underestimating what you really pay. With all taxes combined,not including sales, we normally pay around 33%. That is what I would put back to save if I were going into business for myself at present. That is what I tell people to do. Your income is not all yours. Assume that a third of it will go to the government, local, state and national.

I am only talking Federal.

If federal took out 16%, that would be 2x of what Federal normally takes out.

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That would work if you want those who don't earn enough to feed their family to get from what you paid to compensate for the taxes they paid... also known as food stamps.

For me it is quite easy, for the first 15,000 nobody pays taxes (no matter how much they make), for the first 15,000 to 30,000 5% for the first 30,000 to 500,000 10% and for anything above 500,000 15%. No exceptions.

So, a guy earning 500,000 would pay:

to 15,000 -> $0

to 30,000 -> $750

to 500,000 -> $45,500

total ----------> $46,250

Nothing wrong with that either. My accountant wouldn't be so useful anymore but that's ok.

No offense here. I think you are underestimating what you really pay. With all taxes combined,not including sales, we normally pay around 33%. That is what I would put back to save if I were going into business for myself at present. That is what I tell people to do. Your income is not all yours. Assume that a third of it will go to the government, local, state and national.

I am self employed and I put away 30% and so far it has always been just right.

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Posted (edited)

Here's what I would like to see...

Remember how the tax form has a "check box" for contributing 1 dollar to the Presidential Campaign fund?

Well, I would like to see, like 17.

For example, 1 dollar(or more) to cancer research, to heart and diabetes reasearch, etc..(separate boxes)

Then apart from medicine, I would like to see a check box for, say, NASA, or highway/bridge infrastructure repair/expansion, and other stuff like that.

Then several check-boxes specific to education, job creation apart from oversea's dominance, etc...

And so on. Totally optional.

........................................

Let the ACTUAL TAXPAYERS have a legally binding voice on, say, 15% of where their own money goes to.

OK, 12% if it makes Congress happy that they can't RAPE ALL OUR MONEY.

Within 10 years(maybe a little more) America would grow much stronger, and the taxpayers would be MUCH MORE HAPPY.

Edited by pallidin
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