 Will i be done for tax invasion? |
| i decided to leave my job september 05 and try setting up my own business. Within that year i made 33 k but did not pay any tax out of this i paid for all new computer etc and needed a care to ... |
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 I have a question about the President tax check.? |
| My aunt is disabled and is raising my cousin also getting county aid and she wanted to know if she will be included in getting the tax check?... |
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 Why do I pay Medicare Tax when I'm not even past my probation period at my job? |
| Does everyone gets deducted no matter what their status is? (FT, PT, PD, etc)... |
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 Can I use my daycare providers social to get a tax credit even though she is not licensed? |
| It is my understanding that a daycare provider must be licensed to be able to get a tax credit or use the Dependant Care benefit through work. But I hear of people using the social security number ... |
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 When will i get my refund? |
| ok so i filed electronically this year on Jan 21st, the person who filed for me told me i should be getting my check deposited into my bank acct by the 1st...and I just checked the irs website and ... |
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 IRS refund date change? |
| I filed my taxes using Turbo Tax on 01/17. It was accepted by the IRS on 01/18 and at the time, it said that I would get my refund buy 01/30. I ended up checking the IRS website a few days later and ... |
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 Is it a rip-off to have a third party prepare my tax return? |
| I have a lot of friends who do it themselves and say it's simple. There are also people who say you get more back if you take them to a place like HR Block or a CPA. Will I be able to maximize ... |
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 Can I deduct electic and phone bills? |
| I currently work part time as a medical transcriptionist at home. The only expenses I deduct at the end of the year are books and equipment, etc. and also my DSL but can I deduct part of all of my ... |
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 Tax Question, 10 points for best answer!!? |
| So back in 2005 I worked at a summer job for about 2 months and earned around $1,000 point being that I was not required to file taxes that year because I earned so little that year. My question is ... |
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 Is there a legal way to avoid supporting the war through taxes? |
| Is there any way to ensure that my income tax will not be used to support war? I am looking for a legal method, NOT simple refusal to pay.... |
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 If someone else files your kids on the their taxes, is it illegal? |
| I mean i know two people cant file the same child but if you let some else file your child becuz they can get more money than u can, is it illegal?... |
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Alexia h | Do you think a flat tax with no loopholes would work? Explain.? |
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Bill M
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Politically it hasn't worked yet. |
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wandererthelost
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It would work, but that's not to say that the current system does not work. All I am agreeing with is that it would work. I do however feel that is a bad idea. The economy is currently build such that people with money can make more money far easier then someone with less money. This being said, it only seems fair to tax them more because they not only usually maintain wealth but gain in if they have any real idea what they are doing financially. Some people sight that some rich people do become poor but I would argue that the opposite is within comparable amounts. As it is often stated, "The rich get richer and the poor get poorer." |
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Ralfcoder
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Maybe, but I think that it has a poor chance of being enacted.
The current system allows Congress to add or eliminate tax breaks so that they can reward friends or penalize enemies. It's a favorite way for them to reward big campaign contributers. If you take that ability away from Congress, they will have to resort to kickbacks and other schemes. |
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wizbangs
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Yes, however there still needs to be some safeguards.
If you are talking a flat income tax (thus, a regressive tax), it would work, but you'd need to have a cost-of-living deductible. For example, if it is determined that it takes at least $20,000 a year to live on your own in America, then the first $20,000 should be excluded and everything above that taxed on a flat tax basis.
The biggest argument against flat tax right now is that it would hurt the poor the most, since they pay a much lower rate than the wealthy. 15% from some one who makes $8 and hour is a lot worse than 15% from some one who makes $100,000 a year.
In my opinion, we should move to a flat income tax (as the current system dissuades advancing oneself financially) and supplement it with a consumption tax (technically, a National Sales tax that taxes you on how much you spend and consume). This would encourage saving and get us away from all the debt that is inherent in our society. |
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freshmeatz
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probably not, a flat tax would catch itself with the current dollar before distribution is in debt all ready.. Eliminate the debt of the dollar before introduced to circulation and apply the direct tax to it from corporations and it would stand a better chance then a snowball in hell effect of surviving.. |
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brianjames04
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With no loopholes? I can't see that happening. The original income tax was relatively flat with no loopholes and look where we are today.
I actually feel we should return to a much more progressive income tax. Since Regan real wealth and power has rapidly concentrated in the top 1% and for the vast majority Americans the standard of living has remained the same or has gone down.
I could support a flat income tax of 33% on all income over 150K without any loopholes or deductions. Of course the 150k threshold would be adjust for inflation every year. This would historically be in line with the original income tax and it would be ecomomically fair and viable.
Also I would drop the corporate income tax but the second that money goes to a person as compensation or benefits then that person has to declare it as income.
I would also allow for capital gains to be indexed for inflation but the actual profits would be taxed as income. |
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faerieshy
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YES... YES..... YES!!! I KNOW it would work. Simple math: at the present time there are BILLIONS of dollars going untaxed by drug dealers, prostitutes, illegal aliens, and tax fraud. My son & I earn the roughly same amount, but he pays 12.5% in taxes, while I pay 33% in taxes, just because I'm self employed. Does that make any sense to you? some legal immigrants carry a tax exemption card, do you get the same break? why should I pay more in taxes than GM? They can afford to pay their CEOs more than I will earn in my lifetime, but they can't afford to pay taxes? The IRS has the authority to level grandiose amount of liens, late fees and penalties against people who could NEVER earn enough to live on (meagerly) and give them their ransom. our national debt could easily be payed off by the fair tax and the (currently) hidden revenues it will produce. |
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Bart S
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Not really. It has to be a sliding scale based on income and offset by outgoings, or else it is fundamentally unjust. |
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qwerty
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i don't think so because then the government would run out of money to support programs such as car insurance and stuff and they'll have to go out of business. |
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Kat Man Do
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it's a good concept, but people who get government handouts now will still not have to pay so there will become a great big situation with a bunch of exceptions and will be will all messed up like today |
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axextopher
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Yes the flat tax is the way to go. Everyone wins this way and everyone is usually paying taxes. What most people don't understand is that it's all baised on a single percent. Take Russia for example. Russia has implemented a flat tax of 27 %. It just takes out twenty seven percent of your total earnongs. The Rich are still paying more but this way everyone is paying. Another fact for you guys out there the way Americans do taxes now it takes 6.6 billion hours to complete and only 51 % of americans are actually doing taxes. The goverment also spends 194 billion annualy just to process the tax returns. If switched to the flat tax the govermnet would save around 94 % of that money. Thats around 180 billion in extra savings for the goverment. |
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