I am not sure how that is superficial? But I think it's not a bad proposal for overnight. Its main flaw is it does not set the placement of the tax brackets imho. It does relieve the current inequity in payroll taxes. I don't think it changes the top tax rate much, but removing bogus deductions and simplifying the code should go a long way to making up any costs. An alternative minimum tax on corporations would probably be revenue positive without being counterproductive.
I don't think anyone currently pays 5% but if you remove the payroll tax for the lower brackets people would probably be happy to pay it as they would come out ahead. If you think there's a problem with that let's hear what it is. On 2/6/08, Cameron Childress <[EMAIL PROTECTED]> wrote: > Summary: Increase tax on the rich, decrease tax on the poor. > Predictable I think. Let's get a little less superficial and find out > how that would work.... > > Dana wrote: > > But, here's a thought for you. Consider a household to be like a > > business. Define what can be counted as a cost of doing business. > > Anything above that is adjusted gross income. Tax that on a > > progressive scale from oh 5% to 50%. > > > > Remove the income cap on social security payments. Exempt the bottom > > 25th income percentile. > > > > > > So I personally know someone who doesn't work because if they did, the > combined income of this person and their spouse would raise their income > level to a point where they would be taxed more and receive less > subsidies from the government. If their subsidies went up (as you > suggest) and the taxes above that line also went up, I know they would > NEVER work. Do you think this would encourage more of that behavior? > If not - why not? > > > Do away with the alternative minimum tax for individuals and institute > > it for corporations. > > > > Which will just be passed through to consumers. If you think it will > not be, please let me know how you as a CEO would accomplish this feat > of magic. > > > That's the best I can come up with after a 12-hour shift but it will > > do for a start. And I don't expect you to like it. You claim to want > > simplicity but I am pretty sure you really mean you want lower taxes > > for yourself. > > > > Oh I do want lower taxes for myself. I also want lower taxes for you, > and for everyone. What I want is to reduce the total amount of money > required to run the Federal government. Your solutions do nothing > towards that. They just shift the tax burden to a different group of > people. > > And I have no idea what shifts you work, but if you'd like me to start > tracking them for the list I can. > > -Cameron > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;160198600;22374440;w Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:253432 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
