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My taxes would go up but i must admit I like the idea of a flat tax. I have heard of the transaction tax where every transaction has a small tax on it. So many possibilities. I could Google this, but are there any countries that use a flat tax system and is it liked?
Maybe I am missing the point (which is possible) but with all the deductions my income taxes have been extremely low. Ah, maybe I am missing the point, tax bracket vs actual tax rate (with deductions).
I like the transaction tax too. It's cool because it's completely based on how much you consume. More empowering. And yeah, just googled it and a lot of countries do a flat tax! https://en.wikipedia.org/?title=Flat_tax#Around_the_world
People argue that it isn't fair for poor people because the tax is a larger percentage of their income but they don't understand that that doesn't matter. They pay the same as everyone else which is exactly how it should be.
Also with a system like the Fair Tax plan you would get a credit for taxes paid on a certain amount of food based on the size of your family, since that's required for life. So as long as poor people aren't trying to eat t-bone steaks every night they're not worse off and will almost assuredly have more money in their pocket year after year.
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[–] brechmos 0 points 2 points 2 points (+2|-0) ago
My taxes would go up but i must admit I like the idea of a flat tax. I have heard of the transaction tax where every transaction has a small tax on it. So many possibilities. I could Google this, but are there any countries that use a flat tax system and is it liked?
[–] johnsmith21 0 points 2 points 2 points (+2|-0) ago
How are you paying less than 14.5% in taxes??
[–] brechmos ago
Maybe I am missing the point (which is possible) but with all the deductions my income taxes have been extremely low. Ah, maybe I am missing the point, tax bracket vs actual tax rate (with deductions).
[–] zambeezy ago
Probably making very, very little money
[–] ilikemyname [S] 0 points 1 point 1 point (+1|-0) ago
I like the transaction tax too. It's cool because it's completely based on how much you consume. More empowering. And yeah, just googled it and a lot of countries do a flat tax! https://en.wikipedia.org/?title=Flat_tax#Around_the_world
[–] zambeezy 1 point 1 point 2 points (+2|-1) ago
People argue that it isn't fair for poor people because the tax is a larger percentage of their income but they don't understand that that doesn't matter. They pay the same as everyone else which is exactly how it should be.
Also with a system like the Fair Tax plan you would get a credit for taxes paid on a certain amount of food based on the size of your family, since that's required for life. So as long as poor people aren't trying to eat t-bone steaks every night they're not worse off and will almost assuredly have more money in their pocket year after year.