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originally posted by: Chrisfishenstein
a reply to: wasaka
GO RAND!!!
Tax cuts, YEP...Limit congress/judges terms, YEP....Salary cuts, YEP....Repeal Obamacare, YEP....Balance the budget in 5 years, YEP....Not only is this man talking the talk, but he said he has bills and plans to present on how this is to be done! Now this is the kind of talk/actions I like to hear/see from a presidential candidate! Let's get someone in office not named Clinton/Bush....The last 16 years (almost) have been atrocious thanks to Obama/Bush....We may just have a small chance to fix some of this mess....I am in Mr. Paul! Get some good pointers from Daddy also and you will be in good shape to make changes for the better!!!
originally posted by: Boadicea
a reply to: wasaka
I wish I could believe this would change anything. I don't trust our elections enough any longer to believe it will though.
And I'm afraid that in the final analysis, this is just more divide-and-conquer. As long as we have to pay any income tax on our earned income, it will be a source of contention among the people about who "should" pay more or less or whatever, when NO ONE should be paying any income tax on their labor. Instead, take away the corporate welfare and put the burden on those fictional legal entities that are simply profit-generating machines.
Obviously, I want a complete overhaul of the tax code and the IRS... preferably a reform that eliminates the IRS altogether!
originally posted by: babybunnies
The idea of taxing American corporations on their worldwide profits is INSANE.
originally posted by: babybunnies
The only true answers are (A) get rid of income taxes completely...
...and replace them with a flat, across the board sales tax, zero loopholes.
You'd need a sales tax of about 15-18% to raise the revenue lost from income tax....
You close all corporate loopholes and have corporations pay their fair share, but ONLY on money made in the USA. The idea of taxing American corporations on their worldwide profits is INSANE.
originally posted by: Boadicea
originally posted by: babybunnies
The only true answers are (A) get rid of income taxes completely...
That's a good start, but...
...and replace them with a flat, across the board sales tax, zero loopholes.
This is where I disagree. No sales tax either. Especially because it would unduly burden the youngest taxpayers with young families, who consume the most by necessity. Nor will that help a struggling economy if consumers are penalized for spending their hard earned cash.
You'd need a sales tax of about 15-18% to raise the revenue lost from income tax....
Much of that, if not all of that "lost" revenue, would be made up by eliminating corporate welfare... and whatever isn't, they don't need. That's how much they need to cut spending.
You close all corporate loopholes and have corporations pay their fair share, but ONLY on money made in the USA. The idea of taxing American corporations on their worldwide profits is INSANE.
I agree there. I've never understood the idea of taxing companies on dollars earned outside the country, especially assuming that they are paying taxes on those profits in those countries. It's not fair (or practical) to tax them double. If they're bring those monies back and spending them here, it's still a plus for our economy. At least I think it is!
originally posted by: greencmp
Repeal the 16th amendment and don't pass an amendment allowing a national sales tax, let the states try to make up the lost revenue so citizens can use the non-political mechanism of voting with their feet to force limits to taxation.
Repeal the 17th amendment to restore senators to being chosen by their state legislatures as it was meant to be to maintain the carefully planned balance of powers.
No welfare at all (corporate or otherwise) at the national level, let the states handle that too.
Close the loopholes and drop the corporate tax rate which is a major reason we are losing so many corporations and so few are choosing to incorporate here.
Let them repatriate their profits, don't force them all the way out by trying to confiscate their foreign capital returns.
Basically, follow the constitution.