Guess what else is wrong with America, Taxes, even Russia knows better.

I make just above 50 k a year, some of my earnings are automatically deducted.

And some I have to pay, every year I pay around 1900 in income taxes.

My age old friend from back when we were college kids, he dropped out of school and used his programming talents to start a computer business, making security application for Android cell phones (won't
tell you which)

He is on his way to his 7th million.

7 million in earnings, I am happy for him, I really am, he worked hard to get there.

Yesterday I was on the phone with him lamenting about taxes and he just laughed.

I said what up man ?

he said, every year I get about 18-20 thousand dollars BACK IN TAXES

I said WTF, how come the government owes you money

He said how much did you pay your accountant.

I said 200 bucks.

He said my accountant costs 15 k


Even damn Russia has Flat Tax system which is fair, but no, US has got to have poor people pay and wealthy people get a free ride.

How is this Capitalism ?

This is Fascism if I ever saw one.

We gotta bomb Russia, how dare they have Flat Tax

On 1 January 2001, a 13% flat tax on personal income took effect in Russia.

Ukraine followed Russia with a 13% flat tax in 2003, you better believe New Kiev puppet government will change that now.

The Baltic countries Estonia, Latvia and Lithuania have had flat taxes since the mid-1990s

Hong Kong has a Flat Tax

Australia is making preparations to switch to Flat Tax system, (they gotta be bombed too)

(nnooooo not the Aussies)

a reply to: MensaIT3
It doesn't matter if the tax is flat or progressive. What matters is the level of avoidance,,loopholes and the classification of income.
Just introducing a flat tax system benefits the rich.

a reply to: MensaIT3

Flat tax is great.. How about no tax?

I can't name one thing that has come out of the government that has benefited me. (Federally speaking)

But still, my taxes go to people who can vote on whether or not they get a raise.

Something about a fox and a henhouse comes to mind.

originally posted by: MensaIT3
Australia is making preparations to switch to Flat Tax system

Lol the day that happens I will kiss the ass of a flying monkey.

a reply to: MensaIT3

Oh please, wealthy people get a free ride? Are you living in the same world as the rest of us?

originally posted by: rockintitz
a reply to: MensaIT3
I can't name one thing that has come out of the government that has benefited me. (Federally speaking)

The Postal Service, organization of the airwaves (to include the internet you are using), overtime, the interstate system, a safe working environment ... just to name a few off the top of my head.

originally posted by: ScepticScot
It doesn't matter if the tax is flat or progressive. What matters is the level of avoidance,,loopholes and the classification of income.
Just introducing a flat tax system benefits the rich.

Wrong

A complex tax system exactly makes the loopholes possible

It all goes away when you throw that giant tax code book away

originally posted by: AllSourceIntel
The Postal Service, organization of the airwaves (to include the internet you are using), overtime, the interstate system, a safe working environment ... just to name a few off the top of my head.

Wonderful

But you forgot 500 million to Syrian Rebels to help them become ISIS

Among myriad of other things

originally posted by: Ameilia
Oh please, wealthy people get a free ride? Are you living in the same world as the rest of us?

If you are not aware that wealthy use complex tax code to NOT PAY taxes

Then you never talked to anyone wealthy regarding taxes

a reply to: MensaIT3
Yes, the crap does seem to outweigh the gold these days ... for a long time now.

originally posted by: MensaIT3

originally posted by: Ameilia
Oh please, wealthy people get a free ride? Are you living in the same world as the rest of us?

If you are not aware that wealthy use complex tax code to NOT PAY taxes

Then you never talked to anyone wealthy regarding taxes

You're joking right?

Here are Obama's tax numbers. I'm sure you can find other famous wealthy person who release their numbers as well:
Income: 477k, taxes 93k, tax rate 19.6%

Wealthy, paid taxes. Just like everyone else. My household paid over 6k in taxes this year.

ABC source: link

Oh, one of my degrees is in Accounting. I'm sure you must have at least an equal qualification?

a reply to: Ameilia

LOOOOOOLLL

You believe that wealthy pay their fair share in taxes

That is so naive it isn't even funny

When wealthy in US pay taxes they pay token taxes

Those in politics show their taxes for few years because they want a career in politics

You are perfect example of educated person that doesn't know how the real world works

a reply to: Ameilia

Link you posted says

President Barack Obama and his wife, Michelle, paid more than $93,000 in federal taxes last year on an adjusted gross income of more than $477,000, according to tax returns released Friday by the White House.

I bet you didn't know Obama paid in full 8 million for an estate in Hawaii

Wow he saved his salary it seems for a few years


Stop being naive for your own good, not for me, I don't care

a reply to: MensaIT3

Tell your friend to fire his accountant hes lazy. Hes just paying quarterly taxes and overpaying by 18k, If he was doing his job should get back around 5k. Your friend is letting the government borrow his money without interest. By the way ask your friend what he pays on quarterly taxes for his business. Ill bet its what you earn in a year anyone with taxable incomes of $100,000 and above uses the Tax Computation Worksheet, not Tax Tables. The tax rate on taxable incomes over $372,950 is 35 percent. On $1 million dollars, this amounts to $350,000.I made 290000 this year in taxes i paid 84700 counting my deductions. I got back 2100.00 meaning the government borrowed 2 grand intrest free. I know for me a flat tax would be better cut the government a check and be done with it. Bo need to hire someone to keep track of my finances and id keep more of my money progressive incomes the more you make the more you lose.

a reply to: MensaIT3
Ehmmm not wrong at all. It isn't the rates that make the tax code complex and subject to avoidance. It is all the other rules and get out clauses that go with it.
You can have a flat tax rate that has every bit as many allowances, loop holes and exemptions as a progressive one.
If you want to argue that the US code ( and most western countries) is too complex you have my complete support. If you think a flat rate solves this by itself or indeed is the best solution then I think it is you who is wrong.

a reply to: MensaIT3

Fascism is terrible and what you are describing has nothing to do with it.

Confiscatory tax policy results in massive grabs of private resources. When people talk about unequal taxes between rich and poor it is actually the difference between income taxes and capital gains taxes.

Income taxes are always high and rich people are not excluded, they pay the largest percentage and quantity of taxes.

Then, they pay taxes again on what is left from the first round of taxes in the form of capital gains taxes on the profit from their investment of the remainder.

Their "winning" investments are taxed again. There are actually people out there who want to tax their "losing" investments too.

Rich people do not pay less taxes but, when the tax code is complicated, wealthy people can figure out reasonable ways of avoiding or even evading them (including leaving the country entirely), poor people cannot.

Summary, low taxes are best for everybody.

originally posted by: rockintitz
a reply to: MensaIT3

Flat tax is great.. How about no tax?

I can't name one thing that has come out of the government that has benefited me. (Federally speaking)

But still, my taxes go to people who can vote on whether or not they get a raise.

Something about a fox and a henhouse comes to mind.

The government has not done anything in years. We are funding them to sit there, argue and pretend to be important while they never accomplish a dam thing. They can't even vote yes or no anymore. It is a sham and a disgrace to our people, our founding fathers and all those who have died fighting for this nation.

a reply to: rockintitz

I'm not an American so I find this sentiment completely alien. Really, no taxes? You don't get anything for your money?

How about roads, bridges, police, firefighters, infrastructure? I mean come on, what am I missing here? Are you seriously suggesting we skip all these things or do you have a superior system in mind?

Sure there's a lot of waste and a lot of things could be done better but I don't think we're quite at the level where we can live in a modern technologically advanced World and still be completely anarchistic. Maybe we could approach something like that but it would require a lot of work decentralising all of our societal functions. And what would we do about massive projects? Privatize everything?

I'm not denigrating your position, I'm honestly curious.

the best and fairest tax system is by having a percentage come from what you spend or take from the bank. Say 1% tax on all transactions, you take 20 bucks from an atm 1 percent goes to the tax office same as anything that is bought. You then get rid of all other taxes and no one tries to find loop holes because there are none and you pay for what you spend.

As far as I know Australia isn't talking about a flat tax rate for the people but the businesses cause they need more concessions for bulk profit.