Congress Eliminates Child Tax Credit, Mortgage Deduction And E.I.T.C From Tax

[unsmiley 111]

I'd be for a tax code with no deductions whatsoever. None. Just an exemption that across the board ensures that nobody pays a dime of tax on that first part of the income which is determined to be the existential minimum. If that is $20K a year - or maybe varying amounts based on where one resides - then so be it. First $20K are tax free. Next $30K you owe 5%, next $50K you owe 10%, next $100K you owe 15% and then you need to play that out to where it is revenue neutral to today's tax code. That's it. No shenanigans, no loopholes, no deductions. Income is income whether earned or passive makes no difference. I think you could cap the top tax rate at about 25% and would pull in what you pull in today. Done. I'm in.

How could anyone argue that this would not be fair? Count me in, too.

[Mr. Big Dog 10,747]

Ok the right, left and the Me the middle all agree on a flat tax. why can't we get it done.

We all agree about 90% on immigration, why cant we get it done

Because those that bought the current tax code want to keep their deductions and credits and whatnot.

Same on immigration. They want the cheap labor - both the direct cheap labor provided by illegal immigrants and the lower wages for everyone else that the additional supply of laborers causes. Notice that the Republicans are talking now about pushing a measure that will address two things only - border security and work visas. The former is window dressing, the latter is what they're paid for.

[Karee 4,191]

I'd be for a tax code with no deductions whatsoever. None. Just an exemption that across the board ensures that nobody pays a dime of tax on that first part of the income which is determined to be the existential minimum. If that is $20K a year - or maybe varying amounts based on where one resides - then so be it. First $20K are tax free. Next $30K you owe 5%, next $50K you owe 10%, next $100K you owe 15% and then you need to play that out to where it is revenue neutral to today's tax code. That's it. No shenanigans, no loopholes, no deductions. Income is income whether earned or passive makes no difference. I think you could cap the top tax rate at about 25% and would pull in what you pull in today. Done. I'm in.

Sign me up. Seems pretty straight forward.

[DavenRoxy 1,073]

Hold up just a freaking minute... are we all in agreement here? No way, not on VJ!!

Yeah, I am down with it too. Or even a flat tax (seems like Germany had that years ago when I was there)

The more you earn, the more you pay, but it's the same percentage across the baord. But truth be told, I like MBD's schedule even better.

I'd be for a tax code with no deductions whatsoever. None. Just an exemption that across the board ensures that nobody pays a dime of tax on that first part of the income which is determined to be the existential minimum. If that is $20K a year - or maybe varying amounts based on where one resides - then so be it. First $20K are tax free. Next $30K you owe 5%, next $50K you owe 10%, next $100K you owe 15% and then you need to play that out to where it is revenue neutral to today's tax code. That's it. No shenanigans, no loopholes, no deductions. Income is income whether earned or passive makes no difference. I think you could cap the top tax rate at about 25% and would pull in what you pull in today. Done. I'm in.

How could anyone argue that this would not be fair? Count me in, too.

Sign me up. Seems pretty straight forward.

[The Nature Boy 4,224]

Hold up just a freaking minute... are we all in agreement here? No way, not on VJ!!

Yeah, I am down with it too. Or even a flat tax (seems like Germany had that years ago when I was there)

The more you earn, the more you pay, but it's the same percentage across the baord. But truth be told, I like MBD's schedule even better.

If I was President I would make MBD tsx czar and rieio head of the justice dept

[MyLittlePony 340]

They want much damage on the middle to low income class.