Coattail tax thread

[Big Frank]

This the base behind the Capital Gain Tax rate.  A reward for investing back into the economy.  Think about the CEO compensated with company stock.  His compensation is tied to the success of the company.  He is compensated with stock, and he sells the stock for his income, or he lives off the dividend.  Either way he is rewarded through the tax code for taking this risk, and when he benefits those tied to his success also benefit.

I have to disagree with this. Some CEOs get millions of dollars of stock options in addition to their salary when they run a company into the ground, and the workers don't gain anything from it. They're more likely to be penalized for not making the company more profitable. GM is a good example.

[MikeBjerum]

capital gains does not help the small guy.  as very few small business ever go public.

Capital Gains helps anybody of any size who invests!  You are a contractor.  Haven't you ever flipped a house or other property?  Buy it, fix it up, rent or use it for a while, then take advantage of increased value and resell - That margin is a Capital Gain!

[Tyler Durden]

Repeal the 16th amendment entirely.

Get rid of the income tax altogether.

Go with a flat sales tax on everything.

The side effect is all those illegals who are working cash on the barrelhead  or cash under the table type jobs will finally be chipping in to the overall fed .gov revenues.

Then in turn, it won't look so appealing to be here illegally and hopefully they will self-deport.

[alfsauve]

Repeal the 16th amendment entirely.

Get rid of the income tax altogether.

Go with a flat sales tax on everything.

I'm with Tyler.  Income tax is an excuse to exercise control over the population.   Grant special exemptions, threaten free speech and numbers of other tyrannical threats if we don't toe the line.

The concept of "non-profit" would basically go away.

[crusader rabbit]

Repeal the 16th amendment entirely.

Get rid of the income tax altogether.

Go with a flat sales tax on everything.

The side effect is all those illegals who are working cash on the barrelhead  or cash under the table type jobs will finally be chipping in to the overall fed .gov revenues.

Then in turn, it won't look so appealing to be here illegally and hopefully they will self-deport.

God Bless You, Tyler.  That's the fairest taxation program around.  If you don't buy something, you don't pay.  If you do buy something, the merchant collects Uncle's mordida.  Stick it all under your mattress, and it's still there when you want it.  All of it.

And the added side benefit (as Tyler noted) there could be a windfall self-deportation action. 

Take a look at the Fair Tax Proposal.  That makes nothing but good sense.

Crusader Rabbit

[Sponsor]

[MikeBjerum]

Can you imagine the screaming when people realize that Local, State, and Federal taxes, all combined into a single sales tax, increase the price of a product by 50% - 60%?

I hate taxes as much as the next guy, and I know that we need them to pay for government services.  However, I am 100% against property tax, because it has no bearing on your ability to pay.  I am for some sort of flat tax, whether it is sales or income.  If we could trust people to report their income, I would go for income tax with only one area of deduction:  Business could deduct cost of doing business - Tax only the margin.  However, since too many cheat the system by under reporting, sales tax is the only viable answer for personal taxes.

Do you want to hear the inevitable scream against this system?  It will be deemed unfair, because the "rich" will pay less BASED ON THEIR INCOME then the poor.