1 (edited by Justinian I 17-Mar-2009 15:35:06)

Topic: Justinian Tax Reform

I am operating under the premise that America's tax laws are too inefficient, allow complicated loop holes for political and legal elites to evade taxes, and they are stressful on the economy.

I propose a federal tax reform that values efficiency, breadth, and small government. The tax codes will not be concerned with accommodation, but rather with efficiency. Stupid people who pop out babies are out of luck. All individual income will be taxed at the same rate, including wages and dividends. The state will not recognize marriage, and married couples will file separately.

The federal taxes will be 15% of all personal income over $20,000. Corporations and capital gains will thus not pay taxes. Though you could say this is regressive, the truth is that poor people pay no taxes and middle class people are not severely hurt. A middle class person earning $50,000 will have a taxable income of $30,000 and pay $4,500 in taxes - a 9% tax of their total income. Likewise, Warren Buffet (who admitted to paying less than is secretary in taxes) would pay $6 million on his $40 million or so of dividends.

This will decrease revenue, but a system like this would be efficient and relax stress on the poor and middle class. Moreover, people would have more money to invest and the economy would grow.

Re: Justinian Tax Reform

they can't get by with just 15%.

The core joke of Hitchhiker's Guide to the Galaxy is that of course no civilization would develop personal computers with instant remote database recovery, and then waste this technology to find good drinks.
Steve Jobs has ruined this joke.

Re: Justinian Tax Reform

> Chris_Balsz wrote:

> they can't get by with just 15%.>

They'll just have to cut spending!

Re: Justinian Tax Reform

Did you just pull 15% out of your ass, or is there some basis for that number?

Make Eyes Great Again!

The Great Eye is watching you... when there's nothing good on TV...

Re: Justinian Tax Reform

> Zarf BeebleBrix wrote:

> Did you just pull 15% out of your ass, or is there some basis for that number?>

I like that number

Re: Justinian Tax Reform

So the ass thing.

Make Eyes Great Again!

The Great Eye is watching you... when there's nothing good on TV...

Re: Justinian Tax Reform

well thats the American way

The core joke of Hitchhiker's Guide to the Galaxy is that of course no civilization would develop personal computers with instant remote database recovery, and then waste this technology to find good drinks.
Steve Jobs has ruined this joke.

Re: Justinian Tax Reform

Cut spending?

Forget what you have been told, the Amerikan royalty will never surrender power. This is not a democracy.

[I wish I could obey forum rules]