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Originally Posted by saden1
You seem to be missing historical context and profound misunderstanding of America. Land owners and the wealthy have always paid the most taxes since the inception of this country. In fact, today's rich pay much less than Thomas Jefferson or George Washington paid and with them being the founders you can hardly make the case that we are all of a sudden punishing anyone that's rich.
Those who are here or those who recently came here are free to leave at any time and take their belief and build their dream nation elsewhere.
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I dont know what i said to make you think land owners or wealthy shouldnt be paying the most taxes on their income? I think they should be paying the most but through a flat percentage not a progresive tier. I did not know that Washington Or Jefferson paid higher taxes then today's rich (and wouldnt mind seeing a source that says so), but was it because they paid taxes on property they owned while others didnt own anything?
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A percentage is not fair for the simple fact that consumable goods and housing are expensive. A percentage wouldn't only punish the poor but the middle class. They are the biggest consumers of good....they will have to make decisions about whether to buy that 30K car + 17% sales tax or send their kid to college for another year. If these people have to make choices like that American would have a revolution brewing in no time.
Flat Tax advocates always present the bright side and positive numbers, they never present the potential pitfalls and ramifications. Any proposal to change the tax code shouldn't be a one page or three pages, it should be like a Form 10-K.
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Im not really advocating the Fair Tax if thats what youre alluding to here. Im just saying the federal income tax should be an equal percentage for all. But I don’t think that’s possible to do overnight and that’s what I like about 9 9 9. Im assuming your 35k + 17% in state and federal sales tax is a 999 reference? That’s a misleading example as many people don’t understand that the car is currently 35k + 8% + A Portion of the Money You Already Paid in Federal Income Taxes . A lower and equal tax on business will also reduce the price of the goods businesses produce since prices will reflect a lower tax amount embedded in the final product, so it may now be a 34k car + 8% +9%.
For some households that may be more than they would have paid in aggregate federal income taxes beforehand but for most it will be less. Also most poor people buy used cars, which wont be subject to federal taxes. While 999 lowers taxes for most it does raise it for some, but most importantly it gets rid of the loopholes for the rich….. except for capital gains which is partly why I think they should be taxed equall as well. Although Cain is promoting this as a jobs bill so not taxing capital gains will be a positive for the economy.