I heard about a new Republican scheme on taxes: a regressive tax system, a system in which the more you make, the less your income tax percentage would be. They say this helps everybody pay nearly the same dollar amount in taxes rather than paying more when you make more. I just see this as another attempt to lower taxes on the rich, the usual Republican motive. I'm sure some of you out there would actually believe in this system. I frankly do not.
Well if everybody paid the same % then those who previously paid taxes will have their taxes lowered and those not paying taxes will have their raised as they were not paying any before. This is more fair in the sense everybody has to pay money.
Your poll is off a little it is not that same amount of money it is the same percentage of your money, big differance. Though I am for regressive taxes in general.
Flat taxes are neither progressive or regressive. A regressive tax would tax low wage earners at a higher rate than higher earners. Social Security is regressive due to its cutoff limit. The same wouldn't be true if the limit didn't exist.
regressive tax Definition Taxation that takes a larger percentage of a lower-income and a smaller percentage of a higher income. For example, a tax on the basic necessities (which form a larger percentage of the expenditure of the lower income population) is a regressive tax. See also progressive tax. Basicly 10% from a poor person is felt more then 10% from a rich person.
Reread your definition. It specifically says larger percentage. A flat tax is not regressive. A fixed tax is.
http://www.businessdictionary.com/definition/regressive-tax.html But like I said I was wrong. I jumped the gun on the definition and paid the price.
Now, if people were considering a fixed tax - every person owes $10,000 a year or something, that would be very regressive. Like your definition states, taxes on necessities are also regressive because they take a larger amount of a poor person's money than a rich person's. Interestingly, if what many people like to claim is true - that Warren Buffet's secretary pays a higher rate of taxes than he does, then our current supposedly progressive tax system is actually regressive. In fact, I'd bet that with the right set of deductions, in many cases a person who earns more actually pays less tax than some people who earn less.
I wasn't responding to you necessarily, I was asking the OP where he saw Republicans suggesting this.
Flat taxes only work if you are not allowed any loopholes, deductions, etc. It is really a way to increase profits too. When Mitt pays 15% when he's supposed to pay 45%, imagine what he would pay if they were taxed even less.
Absolutely, that is one of the intentions of a flat tax - to cut social engineering through tax benefits. If we went to a flat 15% rate on all income earned above the poverty line, our revenue would actually increase. But this would significantly cut politicians political power and their ability to give benefits to their friends, so most politicians will fight it.
It seems the premise of the thread as well as the source of the story came from the same place.......the OP's rectum. . . . . .
He paid the Capital Gains Rate.........the rate he was supposed to. Do you have anything to add that isnt a complete fraud and utter lie? . . .
In reality, get the income tax below 20% and no rich fellow gives a (*)(*)(*)(*) how progressive it goes. The rich are worried about paying more, not about paying more than the rest. They do not care if the rest of the world pays nothing.
I'm not defending Romney, but the 15% rate is on capital gains. He already paid the higher rate on his earnings. Why do liberals not understand the difference between capital gains taxes and regular paycheck taxes? His money has already been taxed.
It is because they despise the idea of people just putting money into a stock and profiting from it without actually getting their hands dirty. They don't like investors. To the average liberal unless you are a down in the gutter, blue collar worker you aren't really a worker, but just some leech of society who deserves to be raped by the working classes for every dime they can get. Just classic pop socialism and hatred for their social superiors. The pitchfork and torch waving masses have always, and will always try to tear down their betters.
