[TeTe lol Chin]

Originally Posted by Dizzle

Higher taxes reward losers, prohibit economic/research investment expansion, and penalize people for making wealth/jobs.

I agree with this 100 percent. They hate to see their social programs go away and having it come at the expense of the people who make wealth. They don't understand that better jobs or higher salaries could be created for them if these companies tax liabilities weren't so high.

As far as the article, I agree that the Forbes version could use some working. But the overall principle of flat taxing is sound.

I agree with this part.

First, restore the deductions for mortgage interest and contributions to charities, both of which are rooted in middle-class values. Next, exempt from inheritance taxes only estates up to $5 million, covering family farms and family businesses, but keeping some inheritance taxes on the super-rich.

Third, “impose consumption taxes” on the imports of foreign nations that steal our intellectual property and impose tariffs on our goods. Or, like Japan, use nontariff barriers to run up annual $65 billion trade surpluses at our expense. Further, impose an “equalization tax” on the imports of third-world countries where wage rates are so far beneath those of the United States that they have become meccas for transnational corporations anxious to off-load their American workers on the junk heap of the “global economy” and hire Asians at a tenth of the price. Corporations that close factories here, and open them up abroad, should pay a price of re-admission to get their goods back into the United States.

And every dollar of those tariff revenues should be used to cut taxes on American small businesses, which have been hiring the millions of workers who have been laid off or fired by the corporations that provide the munificent ad revenues for Forbes magazine.

Something needs to be done about our over $800 billion trade deficit. This would be key in creating jobs and getting out of debt at the same time.

[TeTe lol Chin]

Originally Posted by Snives823

You are the winner I say 10% flat tax.

edit: I'll agree with 15-18% to lessen the deficit but 10-12% after we clear it up.

This would have to be written in stone. It's easy to think that the government could reduce the percentage if the deficit is reduced, but just like any other promised reduction over time in order to sell a tax, it almost never happens.

[Dizzle]

TeTe, I thought Forbes invented the flat tax?

Chicago gets hit the hardest in the country with taxes, I dont think Steve Forbes could afford a pack of cigs. Im sure your loving Strogers new 10% sales tax hike and 888million in new taxes.

You might appreciate my previous thread Obama endorses biggest crook/fool in Chicago histroy!

[TeTe lol Chin]

Originally Posted by Dizzle

TeTe, I thought Forbes invented the flat tax?

Chicago gets hit the hardest in the country with taxes, I dont think Steve Forbes could afford a pack of cigs. Im sure your loving Strogers new 10% sales tax hike and 888million in new taxes.

You might appreciate my previous thread Obama endorses biggest crook/fool in Chicago histroy!

There have been other versions drawn up of the flat tax around the world, like with the example in Russia. Forbes is the father of the US version, which understandably needs to have its kinks worked out to be passable for everyone.

I did post in that thread. The communists here are in full swing more than ever. Stroger's dad was decent man, but the current one is a cocky prick, I have met him. All the ten percent tax does is push people like me outside of the county to make large purchases. They only hurt themselves in the end by forcing people into Lake, DuPage and Will Counties where the tax percentages are several points lower. The county will lose even more revenue in the end when people start relying more on internet purchases.

Which brings up a good point, Stroger threatened to sue companies selling online that weren't charging Cook County residents thier rates. This guy will stop at nothing. He also tried hiding the prompt for voters to rule against his hike. "Press 1 to vote for or against the gun control law" - then silence. What they failed to do is let the caller know, "Press 2 to vote for or against the sales tax increase" People had to find out by blindly pressing 2. Who Knew? By hiding it they could still be legal. It never ends here.

[viruswitshoes]

Originally Posted by Dizzle

TeTe, I thought Forbes invented the flat tax?

Chicago gets hit the hardest in the country with taxes, I dont think Steve Forbes could afford a pack of cigs. Im sure your loving Strogers new 10% sales tax hike and 888million in new taxes.

You might appreciate my previous thread Obama endorses biggest crook/fool in Chicago histroy!

well if you want to go there, then one could say that mccain endorses the biggest crooks in american history...so...

[MicroBrew]

We need a 10% flab tax and tax credit to those without any flab, that would be moi

[KingSnake]

Is flax really sold that much? Could a tax on flax cover our ballooning deficits?

[Snives823]

Originally Posted by MicroBrew

We need a 10% flab tax and tax credit to those without any flab, that would be moi

i usually would agree with nothing you say being that i am a strict conservative, but this i like, cheers to you for good humor!

[Cold Steel]

A flat tax would be better than the current system, but I still perfer a (proper) consumption-based tax system like the FairTax.

Americans For Fair Taxation
FairTax - Wikipedia, the free encyclopedia

Originally Posted by Wikipedia

The Fair Tax Act (HR 25/S 1025) is a bill in the United States Congress for changing tax laws to replace the Internal Revenue Service (IRS) and all federal income taxes (including corporate taxes and capital gains taxes), as well as payroll taxes (including Social Security and Medicare taxes), gift taxes, and estate taxes with a national retail sales tax. The FairTax would be levied once at the point of purchase on all new goods and services. The proposal also calls for a monthly payment to all households of citizens and legal resident aliens (based on family size) as an advance rebate of tax on purchases up to the poverty level.[1][2] The sales tax rate, as defined in the legislation, is 23% of net prices which includes the tax (23¢ out of every $1 spent— calculated like income taxes), which is comparable to a 30% traditional sales tax (23¢ on top of every 77¢ spent).

[The Gem]

poor people spend more of their income than rich people. The percentages under the fair tax would be hilarious to look at and if it ever comes i will laugh at all the poor, uneducated people who supported it.

Flat tax is the real "fair" tax. Everyone pays their share, and no one is exempt from taxes no matter how rich or poor you are. It will also dictate budget management since they will be able to project tax revenue for the government for years to come.