Posted on Sep 28, 2017
Republican call to strip property tax deduction spurs outcry from blue states
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Posted 7 y ago
Responses: 4
SSgt Christopher Brose
I'd go with flat tax. Count everything together - wages, dividends, capital gains, etc. Exempt the first $30,000 or so, and then tax everything beyond that at the same rate for everybody.
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Simplified tax filing form:
Line 1: Income=
Line 2. Tax from table=
Line 3. Tax paid=
Line 4. Difference between 2 & 3= amount you owe or are owed
No exemptions, deductions, loopholes, write-offs, adjustments. All of that is handled by your filing status and overall status that causes you to select the appropriate table. It's not rocket science and if they haven't yet figured out that the current system has led to $20 trillion in debt they don't belong in government. Any business manager, director, or corporate officer that had caused losses of this magnitude would have been fired and/or jailed about $ 19.999 trillion ago (or less). This is what happens when you have the best government that the wealthy can buy. What should the tax rates be? Whatever it takes to have positive cash flow. We obviously can't expect to undo the full deficit in one, ten, or even 50 years, but over time it could be done. If anyone was truly committed to it that is. Waste and excessive costs are part of the larger issue, but revenue and positive cash flow is a good start.
Line 1: Income=
Line 2. Tax from table=
Line 3. Tax paid=
Line 4. Difference between 2 & 3= amount you owe or are owed
No exemptions, deductions, loopholes, write-offs, adjustments. All of that is handled by your filing status and overall status that causes you to select the appropriate table. It's not rocket science and if they haven't yet figured out that the current system has led to $20 trillion in debt they don't belong in government. Any business manager, director, or corporate officer that had caused losses of this magnitude would have been fired and/or jailed about $ 19.999 trillion ago (or less). This is what happens when you have the best government that the wealthy can buy. What should the tax rates be? Whatever it takes to have positive cash flow. We obviously can't expect to undo the full deficit in one, ten, or even 50 years, but over time it could be done. If anyone was truly committed to it that is. Waste and excessive costs are part of the larger issue, but revenue and positive cash flow is a good start.
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Since my home is paid off, I go with the minimum standard deduction. In theory, that is supposed to double. Hmmm, that should make up for the deduction for property tax of about $1300. Sorry rich liberals ( also rich others too).
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