Re: Penn Says: Overpaying Your Taxes

video response to Penn Says: Overpaying Your Taxes

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[ddrfreak4life86]

Current tax structures WOULD work imo if overseas tax shelters were somehow prevented and the rich actually paid the amount they should, of course allowing them to take all legitimate deductions.

To answer a flat % issue, I think it should be divided this way:

<50k yr (per person), 0%

50-100k, 5%

100k-250k, 10%

250k-1M, 20%

1M+, 40%

Then again, I havne't looked too much into the numbers, I just think those numbers would be FAIR, which of course means nothing if it would bankrupt us.

[Truthslayer]

But the Deductions are part of the problem when you get into this. Even the Dems pass MAJOR Loop holes, actualy more so in some cases, for the top 5% which makes the whole Class War far thing even worse.

[reverendyork]

I think your reasoning that particular response is a cop out, is a cop out in itself. The larger the ratio for things I want the government spending money on to things I don't want it spending money on, the more comfortable I am with higher taxes. That's the simple answer, if you want to discuss every dollar of federal spending with a yay or nay, we'll be here for awhile but I absolutely would not be able to find nays forever.

[Truthslayer]

It is a cop out for most people though. Some are going to say the government spends to much on the Military and other say the same thing about social spending. I would say 10% of the people that say that if the government spent it on things they wanted they would pay more aren't using it as a copout. At least in my experience.

[Nervousification]

Don't apologize for being fucking weird dude. Youz ownz that shit!

[ToothSIayer]

LOL video

[TheBuck26]

And get rid of most loopholes and deductions. Maybe keep them for things like dependents, but other than that just make the tax code a lot simpler. The simpler the tax code is, the harder it is to cheat around it. So that's the way to solve that problem if you ask me.

[TheBuck26]

Sorry to double post. Damn 500 character limit.

As for what that percentage should be. It should be about what it was during the Reagan administration, that is between 20% and 30%. Also, I believe the capital gains tax should be eliminated, as well as most other taxes. I also believe in a much smaller government, which we'd need to have if we had taxes that low. That's my ideal scenario.

[TheBuck26]

It was probably a joke, but Bush said in his last State of the Union that the IRS accepts both checks and money orders, so basically if you want to pay extra taxes, they'll be more than happy to take them.

As for me, I believe in a Flat Tax in which everyone pays the same percentage of their income, except those making $40,000 a year or less, who would pay a progressively lower percentage until you get down to $30,000 a year or less at which point you're exempt.

[RPFS2008]

(as far as wage is concerned)

(ie. not talking about corporate, profit based income etc)

[RPFS2008]

A universal 0% income tax.

[visumax]

Not sure about the rest of the world, but where Im from deductions seem to be the problem. The ultra rich have been known to pay allot less tax themselves than the ultra poor. Because if youre smart enough to get rich you are smart enough to avoid your share of Tax. This is why people continual argue for an equal share tax system. i.e. everyone only pays 20%. This only works if tax breaks and deductions stop. Why should people get deductions anyway?

[reverendyork]

Fair enough.

[bigsexywzp]

Here's the way I see it to be fairest. Whatever group is largest population-wise, should be paying the largest share of the tax burden. If 1% of the tax-paying population happens to be the richest, they shouldn't be covering a larger portion of the tax burden than the remaining 99% just because they have more. Unfortunately, this IS the case. The top 50% of taxpayers in this country cover nearly 97% of the tax burden according to the IRS. That just ain't right.