Is There a Home-Sale Tax to Pay for ‘Obamacare’?

[no_such_reality]

[quote=CA renter][quote=no_such_reality][quote=CA renter]So…you’d finally agree with me that the fairest sort of tax system would tax ALL income at the same progressive rates?[/quote]

No the fairest tax system would tax all income like dividends. A flat rate.

Make $10,000, pay 15%, or $1500.
Make $100,000 pay 15%, or $15000.
Make $1,000,000 pay 15% or $150,000.

Then just provide a back credit to poverty level.[/quote]

Depends on what one would call “fair.” A flat tax is patently regressive.

Assuming everyone needs $100,000 in order to live at a particular level (just picking a number, not saying it’s true), then the person making close to that number will not be able to amass wealth in the same way that a person with $2MM in disposable wealth can, yet they will be taxed at the same rate.

Unless you exclude the first, say, $100K or $150K of income, a flat tax will be unnecessarily regressive and damaging to those who work for a living since those who “earn” more than a certain level make most of their money from investments.

So…the fairest tax is one that taxes ALL people’s income at the SAME, progressive rates. That way, everybody is taxed the same.[/quote]

That’s mindless double babble. Same progressive rates, meaningless words meaning nothing.

[Coronita]

[quote=SK in CV] It has become “conventional wisdom” among conservatives and Democrats have been, for the most part, not much better. Either accepting it or fighting weakly against it. It would be ironic if there was any significant movement to tax the rich. There just hasn’t been.[/quote]

SK… That was exactly my point….

I thought all the hand waving recently about “tax the rich more” and “rich people should pay more” and all the tax changes was really suppose to do that.

Then I see this gem of new tax lax for capital gains, and it seems like it’s once again favoring rich(er) people who derive most of their AGI from capital gains versus people who earn salary at the same AGI.

In other words, I think it’s ironic that despite all the calls and hand-waving our politicians have been saying about “tax the rich more”, they really aren’t doing anything to change much.

Where they are taxing people are not necessary “rich”, but upper income people that are just below the rich who derive most of their larger income from wages (IE doctors, lawyers,etc)…..

It’s actually quite comical imho….

Not that I mind the favorable treatments on capital gains. But it does strike me as odd that we would go through tax changes, and fundamentally it’s new bosses doing old bosses same things..

[CA renter]

[quote=no_such_reality][quote=CA renter][quote=no_such_reality][quote=CA renter]So…you’d finally agree with me that the fairest sort of tax system would tax ALL income at the same progressive rates?[/quote]

No the fairest tax system would tax all income like dividends. A flat rate.

Make $10,000, pay 15%, or $1500.
Make $100,000 pay 15%, or $15000.
Make $1,000,000 pay 15% or $150,000.

Then just provide a back credit to poverty level.[/quote]

Depends on what one would call “fair.” A flat tax is patently regressive.

Assuming everyone needs $100,000 in order to live at a particular level (just picking a number, not saying it’s true), then the person making close to that number will not be able to amass wealth in the same way that a person with $2MM in disposable wealth can, yet they will be taxed at the same rate.

Unless you exclude the first, say, $100K or $150K of income, a flat tax will be unnecessarily regressive and damaging to those who work for a living since those who “earn” more than a certain level make most of their money from investments.

So…the fairest tax is one that taxes ALL people’s income at the SAME, progressive rates. That way, everybody is taxed the same.[/quote]

That’s mindless double babble. Same progressive rates, meaningless words meaning nothing.[/quote]

Your words sound like the same garbage that comes from the “trickle-down” theorists. Newsflash: Supply-side economics has been debunked…it does NOT work.

Fair taxation means that every person’s income is taxed at the same levels and at the same rates as everyone else’s. Progressive tax rates make sense since one of the reasons for taxation is to prevent the massive buildup of wealth at the top which is usually the result of the wealthiest and most powerful using their resources to channel more and more money and wealth toward themselves. Additionally, disposable wealth should be taxed at a higher rate than money that is required to live.

[joec]

[quote=flu]

SK… That was exactly my point….

I thought all the hand waving recently about “tax the rich more” and “rich people should pay more” and all the tax changes was really suppose to do that.

Then I see this gem of new tax lax for capital gains, and it seems like it’s once again favoring rich(er) people who derive most of their AGI from capital gains versus people who earn salary at the same AGI.

In other words, I think it’s ironic that despite all the calls and hand-waving our politicians have been saying about “tax the rich more”, they really aren’t doing anything to change much.

Where they are taxing people are not necessary “rich”, but upper income people that are just below the rich who derive most of their larger income from wages (IE doctors, lawyers,etc)…..

It’s actually quite comical imho….

Not that I mind the favorable treatments on capital gains. But it does strike me as odd that we would go through tax changes, and fundamentally it’s new bosses doing old bosses same things..[/quote]

This is why for all the dems claim that they won the tax debate in the deal last year was it? setting capital gains still at 15%/20%, dividends same as before, etc, nearly everything I’ve seen states that the republicans actually “won” the debate when these tax rates were maintained for the foreseeable future. The dems “loss” when the social security holiday was upped by 2% since that affects the poor more.

I’m all for lower taxes all around since the govurnmnent wastes enough of our money…

There’s no tax increase that a politician doesn’t like.

[Aecetia]

[quote=flu]https://www.fidelity.com/viewpoints/personal-finance/taxpayers-guide[/quote]
Thanks for the link.

[Anonymous]

I use free turbotax and I think its benefits won’t be lessen what so ever. So chill and relax your taxes are up and will be safe with deductions.
http://www.a2zdeals.com get yours from here.

[Author]

Posts