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07-14-2003, 02:12 PM | #41 | ||||
Elf Lord
Join Date: Feb 2003
Location: Ilha Formosa
Posts: 2,068
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I assume this is the program you're referring to? Quote:
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I can see why you'd hate that... and of course one of the first things the new Republican majority did was to pass a law that said that U.S. companies that shift their corporate headquarters to tax havens and money-laundering paradises like Bermuda to avoid American taxes are still eligible for Government contracts. "Hey, you working fools pay for those other fools to die in Iraq..we'll just lie here on the beach and suck up the juice...thank you, Republicans"
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Glendower: I can call spirits from the vasty deep. Hotspur: Why, so can I, or so can any man; But will they come when you do call for them? "I like pigs. Dogs look up to us, cats look down on us, but pigs treat us as equals."- Winston Churchill |
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07-14-2003, 02:23 PM | #42 | |
Cyber Elf Lord
Join Date: Sep 2001
Location: Left of Rock, Right of Hard Place
Posts: 986
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The numbers will need to be worked out but for an example: All income upto $40,000 Dollars are not taxed. All income above $40,000 Dollars will be taxed at 20% with no exemptions. If someone make $100,000 then they will be taxed on 20% of $60,000 or $12,000. -------------------------------------------------------------------------------- There could be room for some adjustmments with this basic system: They can adjust the floor of the exemption level (instead of $40,000 make it $30,000 or $50,000) They can adjust the percentage of taxation (instead of 20% of income make it $22% or %18 of income) The government could add an additional higher tax rate level on income above another point (say hypothetically 30% for income above $300,000) If someone make $500,000 then they will be taxed 20% of $240,000 or $48,000 + 30% of $200,000 or $60,000 for a total of $108,000 in income taxes.) I would not reccommend adding more than one additional level, since the flat tax is supposed to be a simpler tax system. If revenues do not meet what the govenment spends then the government should reduce spending. (I know this is hard for some gov't types to understand) -------------------------------------------------------------------------------- The levels should be linked to inflation so that the numbers are adjusted every 5 to 10 years. These are some of my thoughts off the cuff about the flat tax -------------------------------------------------------------------------------- I will agree with you that if a flat tax is applied equally across the board, then the tax will weigh proportionately more against those with smaller incomes than large incomes. -------------------------------------------------------------------------------- 10% from someone making $10,000 is worth more to that person than 10% from someone making $1,000,000 is to that person relatively speaking. The basic necessities of living are about the same for all people rich or poor. Once those necessities are covered, one can look to other needs/wants as their income permits. That is part of the reason I thought a "floor" would help soften the hit of a flat tax on lower income people somewhat.
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Sincerely, Anthony 'Many are my names in many countries,' he said. 'Mithrandir among the Elves, Tharkûn to the Drarves; Olórin I was in my youth in the West that is forgotten, in the South Incánus, in the North Gandalf; to the East I go not.' Faramir What nobler employment, or more valuable to the state, than that of the man who instructs the rising generation? Cicero (106BC-43BC) |
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07-14-2003, 03:17 PM | #43 | |
I am Freddie/UNDERCOVER/ Founder of The Great Continent of Entmoot
Join Date: Dec 2001
Location: Plainsboro, NJ
Posts: 9,431
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GrayMouser - you assume wrong. That is NOT the tax plan the Democrats are complaining about. I'm talking about Bush's tax plan. The democrats feel that people who do NOT pay any taxes should get a tax credit under his proposal. They don't pay any taxes - so why should they get money back? Also - I don't think that companies should be eligible for government contracts if they move overseas or to other tax havens to avoid paying taxes. By the way - it costs a lot more to live in New Jersey than it does the south - so federal aid programs do nothing in New Jersey - becuase they're not based on cost of living. New Jersey is NOT the same as Mississippi. $300 can go a lot further in the south - it won't go anywhere in New Jersey.
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Come back! Come back! To Mordor we will take you! "The only thing better than a great plan is implementing a great plan" - JerseyDevil "If everyone agreed with me all the time, everything would be just fine"- JerseyDevil AboutNewJersey.com New Jersey MessageBoard Another Tolkien Forum Memorial to the Twin Towers New Jersey Map Fellowship of the Messageboard Legend of the Jersey Devil Support New Jersey's Liberty Tower Peacefire.org AboutNewJersey.com - New Jersey Travel and Tourism Guide Last edited by jerseydevil : 07-14-2003 at 03:22 PM. |
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07-15-2003, 01:57 PM | #44 | |
Cyber Elf Lord
Join Date: Sep 2001
Location: Left of Rock, Right of Hard Place
Posts: 986
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It is amazing that some how the US was able to go for roughly 120 years without an income tax.
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Sincerely, Anthony 'Many are my names in many countries,' he said. 'Mithrandir among the Elves, Tharkûn to the Drarves; Olórin I was in my youth in the West that is forgotten, in the South Incánus, in the North Gandalf; to the East I go not.' Faramir What nobler employment, or more valuable to the state, than that of the man who instructs the rising generation? Cicero (106BC-43BC) |
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07-15-2003, 02:04 PM | #45 |
The Elvish Temptress
Join Date: Jan 2003
Location: Vienna, Austria
Posts: 3,055
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In Austria we usually work from 7 am to 4 pm. Approximately.
And students have at least 9 weeks of summer holidays.
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What I am and what I would are as secret as maidenhead. |
07-15-2003, 02:17 PM | #46 | ||||
Banned
Join Date: Feb 2003
Location: I have no idea.
Posts: 5,441
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However, I can't account for the taxes, though. You've told me that NJ has a state income tax, but Texas does not. We fight it every time it goes up for a vote. What does a state need with a state income tax anyway? Maybe you should move from NJ, to the South. LOL! just joking! |
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07-16-2003, 01:51 AM | #47 | ||||
I am Freddie/UNDERCOVER/ Founder of The Great Continent of Entmoot
Join Date: Dec 2001
Location: Plainsboro, NJ
Posts: 9,431
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Come back! Come back! To Mordor we will take you! "The only thing better than a great plan is implementing a great plan" - JerseyDevil "If everyone agreed with me all the time, everything would be just fine"- JerseyDevil AboutNewJersey.com New Jersey MessageBoard Another Tolkien Forum Memorial to the Twin Towers New Jersey Map Fellowship of the Messageboard Legend of the Jersey Devil Support New Jersey's Liberty Tower Peacefire.org AboutNewJersey.com - New Jersey Travel and Tourism Guide |
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