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Business, Economics & Tax Policy 5.0: Can a blind nut find a squirrel?

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Re: Business, Economics & Tax Policy 5.0: Can a blind nut find a squirrel?

joecct said:
The >$10M will have their lobbyists create a loophole that allows them to off shore their $$ to escape taxation. Or they'll relocate, like most of the European super rich to an off shore tax haven.

You want to keep the max effective rate somewhere south of 50%. North of that and the uber rich won't be paying.
Click to expand...

See changes below.
 
joecct said:
Remember that making it too complicated makes it the "Accountants and Lawyers Employment Act of 20xx." The well off can afford the accountants and lawyers. Everyone else gets the shaft.

Eliminating Schedule A in favor of a blanket $45K standard deduction serves part of the complications. If you have a 2 income household, your deduction is $90K. 3 spouses working? $135K.
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Multiple tax brackets can still be done on a postcard. That is not the issue with simplifying taxes.
 
Re: Business, Economics & Tax Policy 5.0: Can a blind nut find a squirrel?

Kepler said:
I counter with:

0%: 0 to median income (MI)
10%: MI to 2MI
20%: 2MI to 10MI
50%: 10MI to 100MI
90%: 100MI+

Everyone single filer.

No deductions, no exemptions, no write-offs, all income treated the same including gifts, inheritance, and exchange of anything of value as defined under FPCA, FAR and other federal statute. No caps, all revenue goes to the general fund, no separate accounts for any expenditure.

Any change to the tax code takes effect no less than 5 years after passage to allow transition.

Tax evasion above $1M punishable with a 100:1 ratio of punitive payments to recovery of base amount.

No bail for anyone arrested for evasion of taxes above $1M. Automatic assumption of flight risk.

In addition, 1% annual tax on all wealth above $100M. No exceptions.
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Fine, as long as it includes FICA. Anything that doesn't balance the regressive nature of that tax is unacceptable.
 
Kepler said:
I counter with:

0%: 0 to median income (MI)
10%: MI to 2MI
20%: 2MI to 10MI
50%: 10MI to 100MI
90%: 100MI+

Everyone single filer.

No deductions, no exemptions, no write-offs, all income treated the same including gifts, inheritance, and exchange of anything of value as defined under FPCA, FAR and other federal statute. No caps, all revenue goes to the general fund, no separate accounts for any expenditure.

Any change to the tax code takes effect no less than 5 years after passage to allow transition.

Tax evasion above $1M punishable with a 100:1 ratio of punitive payments to recovery of base amount.

No bail for anyone arrested for evasion of taxes above $1M. Automatic assumption of flight risk.

In addition, 1% annual tax on all wealth above $100M. No exceptions.
Click to expand...

Costa Rica and Monaco better build more luxury housing. John Kerry won't like it.
 
Re: Business, Economics & Tax Policy 5.0: Can a blind nut find a squirrel?

joecct said:
Costa Rica and Monaco better build more luxury housing. John Kerry won't like it.
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Kerry's head can go on the stake right between the Koch brothers.
 
Re: Business, Economics & Tax Policy 5.0: Can a blind nut find a squirrel?

So I've seen the talking points on the actual GOP proposal released, and outside of the estate tax repeal, it's not full Brownback, so there may actually be something workable there.
 
Re: Business, Economics & Tax Policy 5.0: Can a blind nut find a squirrel?

The fight is 1% ad buys vs the ability to read. Who you got?

We are about to see billions in lying propaganda plus millions more in free media from 1% lapdog outlets, in the service of the 1% stealing trillions.

If Americans are not smart enough to get this shot down then frankly we don't deserve to keep our democracy anyway.

It's going to come down to how stupid the public is.

That is scarier even than Dump.
 
Kepler said:
The fight is 1% ad buys vs the ability to read. Who you got?

We are about to see billions in lying propaganda plus millions more in free media from 1% lapdog outlets, in the service of the 1% stealing trillions.

If Americans are not smart enough to get this shot down then frankly we don't deserve to keep our democracy anyway.

It's going to come down to how stupid the public is.

That is scarier even than Dump.
Click to expand...

The things that stand out to me are: repealing the estate tax, eliminating the AMT (though if they really get rid of most deductions, that becomes less necessary anyway), and lowering the corporate rate.

The home building industry will throw a fit, but Fark them anyway.

I'm not saying it's a great plan, but in normal times it wouldn't be horrendous as a starting point for negotiations. Obviously this isn't normal times and there won't be any compromises to get any dems on board.

But I was expecting worse.
 
Re: Business, Economics & Tax Policy 5.0: Can a blind nut find a squirrel?

unofan said:
The things that stand out to me are: repealing the estate tax, eliminating the AMT (though if they really get rid of most deductions, that becomes less necessary anyway), and lowering the corporate rate.

The home building industry will throw a fit, but Fark them anyway.

I'm not saying it's a great plan, but in normal times it wouldn't be horrendous as a starting point for negotiations. Obviously this isn't normal times and there won't be any compromises to get any dems on board.

But I was expecting worse.
Click to expand...

Anything cutting the estate tax is a non-starter. My offer, Senator, is nothing.

<img src="https://i.ytimg.com/vi/KjNe9fuqQ8o/hqdefault.jpg" height="300"> </img>

I would be willing to cut corporate rates in exchange for raising capital gains to the level of earned income and raising the higher income personal tax rates. The people who make the money from corporations should pay taxes. The companies themselves should just be regarded as machines for creating products and jobs.

I would cut taxes on the middle class and raise them on the rich. The Democrats never make the obvious trade-off -- the rich have gotten fat and happy and looted the treasury since 1981, if not 1961.

We gave them a 30- to 50- year loan.

Time to pay it back.
 
Re: Business, Economics & Tax Policy 5.0: Can a blind nut find a squirrel?

Kepler said:
-- the rich have gotten fat and happy and ...
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Kep, it's you and Dr. Mrs. right? Sounds like two solid earners.

Are you sure you're not ... < dramatic bah-buh-bah music here > ... the rich ...?

How about you and the good missus out of the "pay it back" spirit just 2x what you owe the IRS this year. Or 3x? 5x?


Anybody who makes less than me is destitute.
Anybody who makes more than me is rich.

(It's like Carlin's theory of drivers: faster are maniacs, slower are morons.)
 
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