Comments on: Taxes and Tea Parties http://ladyglutter.com/2009/04/taxes-and-tea-parties/ That is not what I meant at all. Mon, 06 Feb 2012 20:35:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: LightBringer http://ladyglutter.com/2009/04/taxes-and-tea-parties/comment-page-1/#comment-182 LightBringer Tue, 14 Apr 2009 21:02:00 +0000 http://ladyglutter.com/?p=768#comment-182 While I would accept a Fair tax plan over the current system, I'm going to lean towards the Flat tax plan. Mostly because I favor the no deductions, no exemptions, other than the set individual exemption, rules. This keeps companies and wealthier indiviuals from being able to simply write-off most of their taxes. They could even keep the individual personal exemptions and most of us would come out better off. I'll agree with Apollo that it would be nice if the loop-holes shut, but I'll have to disagree about the cost of an overhaul. Most of the loop-holes are intentionally left there because of big business, and lobbyist influences, so they will never be written out. More than likely they will just be shuffled about. The cost of overhauling is minimal, compared to the cost to fund the IRS, and it's ever-changing set of laws. We would be moving from a multi-tiered systems with paperwork for every deduction, and exemption, to either a sale tax that is charged at purchase, or a single sheet of paper that informs you, you made X dollars, and paid X taxes, done, see you next year. While I would accept a Fair tax plan over the current system, I’m going to lean towards the Flat tax plan. Mostly because I favor the no deductions, no exemptions, other than the set individual exemption, rules. This keeps companies and wealthier indiviuals from being able to simply write-off most of their taxes. They could even keep the individual personal exemptions and most of us would come out better off.

I’ll agree with Apollo that it would be nice if the loop-holes shut, but I’ll have to disagree about the cost of an overhaul. Most of the loop-holes are intentionally left there because of big business, and lobbyist influences, so they will never be written out. More than likely they will just be shuffled about. The cost of overhauling is minimal, compared to the cost to fund the IRS, and it’s ever-changing set of laws. We would be moving from a multi-tiered systems with paperwork for every deduction, and exemption, to either a sale tax that is charged at purchase, or a single sheet of paper that informs you, you made X dollars, and paid X taxes, done, see you next year.

]]> By: Apollo http://ladyglutter.com/2009/04/taxes-and-tea-parties/comment-page-1/#comment-176 Apollo Tue, 14 Apr 2009 15:40:42 +0000 http://ladyglutter.com/?p=768#comment-176 One of the biggest problems I see with the current tax structure is simply how easy it is for the super-wealthy to find and exploit loopholes. If those loopholes were closed the U.S. tax revenue would skyrocket. I don't know enough about the flat tax system or the fair tax system to speak to them but in general I am wary of anything that would require a complete overhaul of the existing infrastructure. That task would be too large to be managed well without enormous cost to the taxpayer. It's kind of a catch-22. One of the biggest problems I see with the current tax structure is simply how easy it is for the super-wealthy to find and exploit loopholes. If those loopholes were closed the U.S. tax revenue would skyrocket. I don’t know enough about the flat tax system or the fair tax system to speak to them but in general I am wary of anything that would require a complete overhaul of the existing infrastructure. That task would be too large to be managed well without enormous cost to the taxpayer. It’s kind of a catch-22.

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