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A radical new idea for taxation, your thoughts please.

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posted on Jan, 1 2015 @ 05:17 PM
a reply to: nonspecific

Yes, but then to raise any money the "free" tax period would have to be quite short, or taxes punitive. A tax system that is punitive serves no one.

In the UK, the top 1% earners pay 25% of the taxes. The top 10% pay 50% of the tax take. The lowest 50% earners provide a net contribution of c. 12% of the tax take.

I imagine this model is similar to most other Western nations.


posted on Jan, 1 2015 @ 06:08 PM

originally posted by: andy06shake
a reply to: Edumakated

It's not about just helping me its about helping one another and a fair days pay for a fair days work!

Less rich people means wealth could be distributed more evenly hence more equality among our population. Then you can tax people fairly and generate a more stable revenue stream simply because people are on a more even keel. We don't need more millionaires or billionaires we need parity among the masses. The uneven distribution of wealth simply creates more and more of a social divide between the haves and the have nots of society and simply brings us one step closer to economic oblivion.

What you are asking for is pure fantasy. There never has been and never will be even distribution of wealth. All anyone can ask is equal opportunity to succeed and fail. There will never be equal outcomes.

You could take all the money away and redistribute a fixed amount to everyone and I guarantee within months, some people will be broke and others will have exponentially grown their wealth.

Wealth creation is not a fixed pie. The entire pie grows and the productivity gains allow people to live better lives. There are countless benefits to even the poor from the innovations that make some immensely wealthy.
edit on 1-1-2015 by Edumakated because: left out point I wanted to make.

posted on Jan, 1 2015 @ 07:13 PM
a reply to: Edumakated

What I am asking for is a change regarding the basic human paradigm. And today's fantasy is tomorrow's reality.

posted on Jan, 1 2015 @ 10:13 PM
The primary problem with a "Flat Tax" scheme is that is places an unfair burden on the poor and lower income earners, who, in many cases, have little recourse to "better" their financial circumstances, because it is not the poor and middle classes who control the economy, and thus the means of job-creation and acquisition.

By way of example, with a Flat Tax of, say 20%:

I make $1,000,000 ($1 million), and at 20%, I have to pay $200,000 in taxes. OK, I still have $800,000 to live off...tough life!

You make $10,000, You have to pay $2,000 in taxes.
That leaves you only $8,000 to live off for the year.

I can buy a house with what I have left for the year.
I can buy a very nice house.
I can buy a couple of very nice houses!

You won't be buying a nice house.
You probably won't be buying any kind of house.
You might not even be able to afford to buy a new car.
Which is a bit of a bummer because after paying for a year's worth of grocceries, you might have to live in your car,

If you could afford a car.

A flat tax sounds real good, Until you realize that it has absolutely no effect on the cost of things you need to buy to survive.

posted on Jan, 2 2015 @ 03:13 AM
a reply to: nonspecific

I don't think much of your idea because I suggest you that you learn about how money is created and you will learn that we should not have to pay tax anyway. No country paid tax until they got a central bank.

Henry Ford once said that if the ordinary working man understood and how money works there would be a riot before dawn.

Goverment treasury can print all they money need. So long as they dont print more than the gross domestic product of the nation there is no probelm because the money printed = the the wealth created.

However to answer your question directly, the tax system would be much more equitable if share trades were taxed at 15- 20% as this would be unavoidable for the rich and raise huge sums of money.

Most taxes that are currently paid are only paid by wage and salary earners. The business community pay relatively little tax at all by consume most of the recourses and infrastructure the tax is used to provide.

This is becauses the masses are the easiest to tax because they are disunited and put up the least resistance.

posted on Jan, 2 2015 @ 08:10 AM
This is what I believe should be done. Close loop wholes for big business and corporations. Ensure that instead of some of the biggies paying in negative numbers, ie that means the tax payers give to them, they pay a good hefty amount.

What I would do is:

1. Ensure that no one pays a dime in taxes or sales tax, if they live below the middle middle class level for their family size. Note the poverty level for a single person in 1990's was close to or around 2000 a month. Those statistics now cost money, but it seems while prices tripled and rents tripled, wages have been pretty frozen for nearly half a century. No one should be paying taxes. Then 10% until you reach upper middle class.

Banks would be required to pay, 20% of all profits.

2. Abolish money altogether. I like this the most.
edit on 2-1-2015 by Unity_99 because: (no reason given)

posted on Jan, 2 2015 @ 08:14 AM

originally posted by: infolurker
Flat tax with NO exemptions is the better way to go. Simple, easy, no more lobbyist favors, less corruption, easy, fair, etc.

^^ I fully agree with this. A flat tax so no one is rewarded or penalized on how much or how little they earn. A flat tax is the only fair tax.

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