What is a fair tax for the government?

@bobmnu (8160)
United States
August 9, 2010 4:15pm CST
I have seen several discussion on who should be taxes and what should be taxed. I have a question. How much of a person income (from all sources) should he/she have to pay in taxes. Please tell me a percent of total income should be paid in all taxes, Federal, State and Local?
2 responses
@Destiny007 (5820)
• United States
10 Aug 10
I believe that no more than 10% should be paid in total taxes on a person's income. Anything more is tyranny. If the taxes were 10% for everyone, then the economy would explode. Spending would have to be cut to the bone, and the government should have to follow the Constitutional limits on it.
@bobmnu (8160)
• United States
10 Aug 10
I agree that lower taxes means more investment and economic growth.
• United States
11 Aug 10
I don't fully agree with that logic. If you don't have a job it doesn't matter how much your taxes are, you still don't have a job. I also don't agree that lower taxes will increase hiring, most corporations are making record profits right now, and they are doing this with incredible productivity. So why would you hire more people if you don't need them?
• United States
11 Aug 10
It isn't a matter of logic, it is a matter of established historical fact... lower taxes lead to greater economic growth... and great tax revenues as a result of that growth. Reaganomics proved that to be true, and it took the libturds 26 years to undo the good that Reagan did. Small business is what drives the economy, not the mega-corporations. It is the small businesses that benefit most from the lower tax rates, as it frees up more money for everything from investing to hiring. If you don't have a job, then you have no income, which means that you have no taxes to pay on income. Meanwhile, increased taxes also mean increased production costs as well as increased consumer costs... because the dirty little secret is that corporations do not pay taxes, they simply pass them on to the consumer as higher prices. Actually, if you had been following the news, you would know that the corporations are sitting on huge sums of money right now, not using it for anything, simply because they are waiting to see what is going to happen with taxes. These corporations are neither hiring or investing, and I have no doubt that if taxes do skyrocket as 0bama wants, then we are going to hear another great sucking sound as even more companies leave the US and even more jobs are lost.
• United States
11 Aug 10
My personal idea is to have a flexible flat federal tax, you really can't do anything about the state and local taxes because those aren't controllable. I think that the federal tax should be flat, but based on GDP. It would start off at 10% when the country is considered to be in a recession to depression, then go to 12% when the country is in full recovery, to top out at 14% when the economy is growing. This way the government brings in more revenue when times are good, and the average American makes more money when times are good, and they get a tax cut when times are bad. Plus, the government will have added revenue from the boom times to assist when they get bad. That should do it!
@bobmnu (8160)
• United States
11 Aug 10
History has shown that the government will spend all it takes in. The Federal Budget is figured on what was spend last year then a factor increase and then you build the budget from that base and ask for increases from there. By locking it to the GDP you don't have to increase the % factor. As the economy grows so does the amount of taxes the government collects. If the GDP is $100,000 the government gets 410,000. If the GDP increases to %200,000 then the tax revenue also goes up to $20,000. I like your idea of a fixed rate for all but I would also like to see the government spending limited to a % of the GDP and it can be increased only by a 2/3 vote in both houses. Taxes for specific programs such as Social Security, Medicare, or Highways should be placed in a trust fund and used only for that. gasoline tax money is for highway construction and maintenance - not to fund bus terminals, walking paths, bike trials, light rail or other mass transit programs.
1 person likes this
• United States
11 Aug 10
See Bob, we can compromise, and use your theory of tying government spending (minus defense). When the income taxes go up, spending goes down, and when the income taxes go down, the spending goes up. Thus, most people are happy. I agree that we should have Al Gore lock boxes for ALL specific taxes, so that the money is ONLY used for that. Now, if we just to put this into law.