Quote:
Originally Posted by Azure
The fact that so many people in the US aren't paying any taxes is probably a good as reason as any to support a flat tax on income.
20% across the board. Anyone under $25,000 in income is exempt.
Put that together with a consumption tax of say 5% federally, with things like groceries, baby clothes, pills, etc, etc being exempt, and you're probably in a much better situation that you are now.
But either way, Obama told the Republicans today that he is willing to look at tax reform and entitlement reform, and willing to write some sort of law that forces them to be accountable to making those reforms happen.
Still think the $3 trillion in cuts along with $600 billion more in revenue is the best plan going forward.
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You do realize the US effectively has a consumption tax system for 98% of Americans? Almost every dollar earned by Americans is spent within the year, and what is saved is tax deferred, leaving essentially a consumption tax on almost all earned income in the US.