NationStates Jolt Archive

President Bush will appoint "open-minded" people to the bipartisan tax reform commission he plans to announce in the next few weeks, the Washington Times quoted a senior administration official as saying. The panel reportedly will consider everything from a flat tax to a national sales tax.

So what would YOUR recommendations be? Flat tax? National sales tax? Something else?

Leave it like it is.

Close the loopholes in the tax code, crack down on individuals and companies who file fraudulently.

Leave it like it is.

Close the loopholes in the tax code, crack down on individuals and companies who file fraudulently.
I'm all in favor of a set percentage tax on all income from all sources for all people, no exemptions, no deductions, no allowances. Can you say "snowball in hell," boys and girls? :)

I'm all in favor of a set percentage tax on all income from all sources for all people, no exemptions, no deductions, no allowances. Can you say "snowball in hell," boys and girls? :)

Are you referring to a flat tax? Because I agree with everything you said, as long as it isn't a flat tax.

National Sales Tax

National Sales Tax

Bad Idea, would raise prices by about 20%. Coupled with the weak dollar that will kill spending in this nation.

Bad Idea, would raise prices by about 20%. Coupled with the weak dollar that will kill spending in this nation.


Kill spending.
*nods*
That's part of what I have in mind..

I'm all in favor of a set percentage tax on all income from all sources for all people, no exemptions, no deductions, no allowances. Can you say "snowball in hell," boys and girls? :)

Except for the people that it would put out on the streets and disallow from earning at all, still leaving the middle class shouldering a proportionally much larger tax burden than any other bracket.

Tax The Rich

Author: Carl Gunther

The politicians say there's not enough to go around
So they're laying off the teachers, and the schools are shutting down
Will our children live as serfs, suited only for their chains?
If we love them, we had better use our brains

With government turned upside down, the money flows uphill
And it makes its tired journey there against the common will
Now we need that money back, and our lives are on the line
So let's go after what we know is yours and mine

Chorus
TAX THE RICH! They've got much more than they will ever need
TAX THE RICH! And they're standing by and watching as we bleed
TAX THE RICH! Their giant wealth is taken from the common store
And now it's time for them to give a little more
Yes, it's time for them to give a little more

One percent of all the people owns one half of all the wealth
They like to show off their possessions to everybody else
But they crawl out through a loophole when tax-time comes around
Just when we need them most, they're nowhere to be found

And when the wealthy do not pay, then the budget axe must fall
And when a child feels the blade, it's the unkindest cut of all
Each young life is like a song, and if we want to hear it played
Then we can't allow these debts to go unpaid

Chorus
TAX THE RICH! They've got the crops, and now they want the seed
TAX THE RICH! Why should the future be a hostage to their greed?
TAX THE RICH! Their giant wealth is taken from the common store
And now it's time for them to give a little more
Yes, it's time for them to give a little more

Well, I must be a dreamer, 'cause I think that there could be
A country of and for the people, blessed with peace and harmony
But the first step on that path is fairness and equality
So, let's take that step together, you and me

Chorus
TAX THE RICH! Release us from the prison of their greed
TAX THE RICH! We need that money now to care for those in need
TAX THE RICH! Their giant wealth is taken from the common store
And now it's time for them to give a little more
Yes, it's time for them to give a little...More!

Copyright 1993 Carl Gunther

http://sfsc.home.mindspring.com/
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If nothing else, I'm expecting this to make you laugh, Eutrusca. :D

He said "open-minded" well he also said he wanted to reach across the isle and work with people as long as they don't impede anything. Translation: Do as you are told!

Flat tax sounds good to me. But it will never happen.

Kill spending.
*nods*
That's part of what I have in mind..

I see...

Are you the one I had the conversation with about the level of credit spending and debt in this nation and the devaluation of the dollar.

If you are, I already know what you are thinking.

Flat tax sounds good to me. But it will never happen.

It's a good thing, too.

Screw taxing the rich, let's just kill the poor RPP.

Screw taxing the rich.

It's not like they actually end up paying much in taxes anyways.

In GA, there is a flat tax, and nothing over $88K is taxed at all. Most rich people incorporate themselves and aren't taxed as individuals anyways and *all* of them have high paid CPA's to find all the loopholes. Your average rich person probably pays less in taxes than your average middle class worker, despite making much, much more.

I want Scandinavian Welfare State taxes, high 40%'s mostly.

I see...

Are you the one I had the conversation with about the level of credit spending and debt in this nation and the devaluation of the dollar.

If you are, I already know what you are thinking.


I am... and happy you have not forgotten. America has multiple deficits, and it makes sense to bring them all down in one single go, if possible.

Kill spending.
*nods*
That's part of what I have in mind..

Well that would be funny in that it would wreck Europe and Japan since they are far more dependant upon consumerspending in the US than the US is, but other that that, why?

Well that would be funny in that it would wreck Europe and Japan since they are far more dependant upon consumerspending in the US than the US is, but other that that, why?

Right now America is highly leveraged in debt. While it makes the economy look strong on the surface, it causes it to be extremely volatile underneath. External forces could cause very dramatic shifts in the economy right now, most likely for the worst.

If the cost of goods and services was increased by 20%, then borrowing for purchases would be much less feasible. It would lower the amount of spending, but it would lower the amount of borrowing even more, in effect stabilizing the economy.

While I don't quite agree with the methods he proposes, I do see the merit in it.