posted on Sep, 3 2015 @ 01:21 AM
a reply to: infolurker
Flat tax or no exemption consumption tax (sales tax) works. Consolidating duplicate function Government agencies would save billions.
The idea of a 'flat tax' is just another cover for trickle down economics, nothing more. It benefits the top 1% the most and makes little difference
to the middle and working classes. The people who gain the least
from a flat tax system are the working class and poor as their taxes don't
change much at all. It does little money wise.
If you want a reference, look no further to Reaganomics in the 80s and its continuation to this day. Prior to Reagans historic tax cuts in 1981, the
most wealthy were paying tax rates of 70%. Today it's 34%, that's the top rate. This certainly benefited the wealthy who saw their incomes grow
dramatically to this day. But with the middle and working classes, growth has been minimal at best. Trickle down economics only benefits the wealthy.
It comes with this 'assumption' that the wealthy will reinvest the wealth into job creation, but we've seen time and time again that this isn't really
the case. The wealthy like to hoard their wealth. Also note, 50% of businesses are considered 'small' businesses in american. The owners of these
businesses are outside the 1%, even the 10%.
Refocus the IRS completely to investigate fraudulent claims (Medicare, etc.).
Do you have any stats concerning how much of an issue welfare fraud is compared to other issues? Did you know that only 7% of households in America
received direct cash assistance from the government. We're not talking about food stamps or subsidized lunches, not partial assistance. We're talking
about government cash, that's 7%. So do you have any stats, impartial sources to show that show the significance of fraud here? I doubt you'd be able
to find any because the rightwing like to overexaggerate the issues with welfare.
Reducing Business Taxes (we are currently one of the highest % in the world) will spur massive growth.
I actually don't have an issue with reducing business taxes (the US has a 40% corporate tax rate, the highest) however if we are going to be reducing
business taxes, we better ensure that we're getting something back from the businesses. I don't agree with this idea that we should just cut taxes for
all businesses and assume it will trickle down again. I mean how many billions do we subsidize corporations a year only for them to continue shipping
jobs overseas and cut jobs here? Businesses need to demonstrate they are actively investing back into the country. If they can't, giving them any sort
of tax cut is a waste.