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Old    Ron T (Laker1234)      Join Date: Mar 2010       01-19-2015, 2:17 PM Reply   
http://www.bloomberg.com/news/2015-0...tax-plans.html
Old     (Froggy)      Join Date: Nov 2013       01-19-2015, 4:26 PM Reply   
Sounds like more BS from the BS king . Raising taxes on the rich will only end up costing more for the poor and middle class.
Old    Ron T (Laker1234)      Join Date: Mar 2010       01-19-2015, 6:35 PM Reply   
This is probably a reaction to the negative publicity about him losing the middle-class voter.
Old    David Posey (granddaddy53)      Join Date: Dec 2013       01-20-2015, 5:23 AM Reply   
dude is a serious communist, socialist, fascist
Old    Shawndoggy (shawndoggy)      Join Date: Nov 2009       01-20-2015, 9:21 AM Reply   
Quote:
Originally Posted by granddaddy53 View Post
dude is a serious communist, socialist, fascist

You do realize that fascism and communism are on opposite ends of the political spectrum, right?
Old    Eric (DenverRider)      Join Date: Feb 2013       01-20-2015, 9:59 AM Reply   
So if taxing rich people only increases costs for the poor and middle class, then why don't we just eliminate taxes for the rich all together. Of course taxing the middle class will only cost the poor more money. Therefore we should just have the poor pay ALL of the taxes. It's because we want to help the poor that we have pushed all of the tax burden onto them. Brilliant logic as usual Froggy.
Old    Darren Yearsley (ralph)      Join Date: Apr 2002       01-20-2015, 12:34 PM Reply   
Imo the best tax system is the simplist to understand, most cost effective to administer and hardest to evade.

My preference is a universal consumption/sales tax (vat/gst) + income tax at zero below lower 25‰ income flat rate above + company tax @same rate.

Ie 20% on every good and service purchased
First 30k of income tax free
Every dollar over 30k taxed at 25%
Company tax 25%

No tax breaks, no deductions. When industry's spring up to manage your tax burden it is a sign the system is broken. Enforcement and compliance costs are the devil. Taxing the needy to give it back to them as benefits makes no sense on many levels. Needless inefficency at a macro level to the economy.
Old    Tom (boardjnky4)      Join Date: Dec 2011       01-20-2015, 12:59 PM Reply   
The capital gains tax increase still hurts middle class people, so why would he would want to increase that? It's going to do nothing more than make people want to pull out of their investments.
Old    Eric (DenverRider)      Join Date: Feb 2013       01-20-2015, 2:06 PM Reply   
Capital gains should be set up with a stepped structure similar to income tax with a higher rate for a higher gain thereby leaving the middle class alone. If this isn't part of Obama's plan then I would disagree with that. Not that it matters as Obamas plans have less chance of getting passed by congress than any of the more ridiculous GOP plans have at getting passed an Obama veto.
Old    Darrin (Cabledog)      Join Date: Dec 2013       01-20-2015, 2:31 PM Reply   
Quote:
Originally Posted by ralph View Post
Imo the best tax system is the simplist to understand, most cost effective to administer and hardest to evade.

My preference is a universal consumption/sales tax (vat/gst) + income tax at zero below lower 25Č income flat rate above + company tax @same rate.

Ie 20% on every good and service purchased
First 30k of income tax free
Every dollar over 30k taxed at 25%
Company tax 25%

No tax breaks, no deductions. When industry's spring up to manage your tax burden it is a sign the system is broken. Enforcement and compliance costs are the devil. Taxing the needy to give it back to them as benefits makes no sense on many levels. Needless inefficency at a macro level to the economy.
Are you suggesting that an individual should pay 45% tax (20% sales & 25% income tax) on every dollar Ithey earn over the first 30K or am I reading it wrong?

.
Old    Darren Yearsley (ralph)      Join Date: Apr 2002       01-20-2015, 2:39 PM Reply   
I plucked the numbers out of my wazzo but yes that what I am suggesting. You are paying more tax than that now but most of it is hidden in tarrifs, dutys and individual taxs on fuel, alcohol, cigarettes etc.

My suggestion is all other taxation is scrapped, with just, sales, income and company tax to remain.
Old    Darren Yearsley (ralph)      Join Date: Apr 2002       01-20-2015, 2:50 PM Reply   
Checked my numbers and the tax rates in the us are much lower than here, I guess because we run more of a nanny state with free health care and education. So you can rejig the numbers maybe 10% sales and 20% income but it is the principle that is important. The reason why you have some component of sales tax is it encourages savings and the collection costs are very low, borne by the retailer and very hard to evade. Income tax is harder to administer but better for redistribution of wealth because of the trigger point and scaling nature of fixed percentage on an increasing income.
Old    Darren Yearsley (ralph)      Join Date: Apr 2002       01-20-2015, 2:55 PM Reply   
Also remember you only pay sales tax when you buy something not when you earn it
Old    Darrin (Cabledog)      Join Date: Dec 2013       01-20-2015, 3:34 PM Reply   
Quote:
Originally Posted by DenverRider View Post
Not that it matters as Obamas plans have less chance of getting passed by congress than any of the more ridiculous GOP plans have at getting passed an Obama veto.
It's all just part of the plan to make themselves look good at the others expense for 2016. They would all be fired if they had to work for a living at a real company that expects goals to be met. Most couldn't run a kool-aid stand. Both parties are garbage and most people are probably caught somewhere in between the 2 extremes IMO.
Old    Darrin (Cabledog)      Join Date: Dec 2013       01-20-2015, 3:36 PM Reply   
Quote:
Originally Posted by ralph View Post
I plucked the numbers out of my wazzo but yes that what I am suggesting. You are paying more tax than that now but most of it is hidden in tarrifs, dutys and individual taxs on fuel, alcohol, cigarettes etc.

My suggestion is all other taxation is scrapped, with just, sales, income and company tax to remain.
I get that it is hypothetical but this seems strong. There are so many layers and hands in the pocket nothing would change. All the money saved in enforcement and compliance would be sucked back up in new expenses and further governmental control to distribute it back to all the different entities that tax us now.
Old    Darrin (Cabledog)      Join Date: Dec 2013       01-20-2015, 4:02 PM Reply   
Quote:
Originally Posted by ralph View Post
Checked my numbers and the tax rates in the us are much lower than here, I guess because we run more of a nanny state with free health care and education. So you can rejig the numbers maybe 10% sales and 20% income but it is the principle that is important. The reason why you have some component of sales tax is it encourages savings and the collection costs are very low, borne by the retailer and very hard to evade. Income tax is harder to administer but better for redistribution of wealth because of the trigger point and scaling nature of fixed percentage on an increasing income.
You make some good points but redistribution of wealth is the path to socialism. I donít mind helping those that canít help themselves but there are just too many people in America these days that are capable but refuse to contribute. Iím guessing youíre not proposing new taxes on legal citizens while at the same time opening your doors for 11 million plus to jump on the entitlement train either.
Old    Darren Yearsley (ralph)      Join Date: Apr 2002       01-20-2015, 7:25 PM Reply   
I'm not commenting on the level of taxation or the amount of benefits, just how to collect it
Old     (Froggy)      Join Date: Nov 2013       01-21-2015, 6:02 AM Reply   
Quote:
Originally Posted by DenverRider View Post
So if taxing rich people only increases costs for the poor and middle class, then why don't we just eliminate taxes for the rich all together. Of course taxing the middle class will only cost the poor more money. Therefore we should just have the poor pay ALL of the taxes. It's because we want to help the poor that we have pushed all of the tax burden onto them. Brilliant logic as usual Froggy.
The so called rich already pays most of the tax and supply's all of the jobs . Taxing them higher will only reduce employment and increase cost of goods needed by the middle class and poor. They will be the ones that actually pay the increase. This is just another diversion to detract from the failed policies of a failed presidency.
Old    Joe (jcfox00)      Join Date: Mar 2009       01-21-2015, 8:12 AM Reply   
Fair Tax! even better of what ralph is suggesting. but same premise.
http://en.wikipedia.org/wiki/FairTax
Old    Ron T (Laker1234)      Join Date: Mar 2010       01-24-2015, 8:00 AM Reply   
Wow, It would be much easier if the Dems. would just take all of our money and dole it equally. http://www.bloombergview.com/article...ass?cmpid=yhoo

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