Time for a flat tax

[724Skinsfan]

Originally Posted by jsarno

Watch, it's simple...charge everyone the same percentage. Let's call it 20%.
So here is the example:
1mil / year = 200k in taxes
200k / year = 40k in taxes
100k / year = 20k in taxes
75k / year = 15k in taxes
50k / year = 10k in taxes
25k / year = 5k in taxes

You take it directly out of the paycheck and no exceptions, and poof...no April 15th, no complications etc. Of course that is about as simple as you can make it.

LOL! Can you even comprehend what devastating impact 5k in taxes would do to the first year teacher, farmer or factory worker's ability to even attempt to provide basic food/clothing/shelter for his/her family?

[jsarno]

Originally Posted by 724Skinsfan

LOL! Can you even comprehend what devastating impact 5k in taxes would do to the first year teacher, farmer or factory worker's ability to even attempt to provide basic food/clothing/shelter for his/her family?

Well, yeah...if they are a first year, they were in school making NOTHING, so they are still 20k richer. Also, the first year teacher here in SE New Mexico makes around 40k. Ouch.
ps- farmers can easily make 200k+ a year. Don't let their bitching and moaning fool you. It's just a hard job. I have friends that are farmers (cotton and chili peppers) they make a killing...and when the weather doesn't cooporate with them, they get government assistance.

[724Skinsfan]

Originally Posted by jsarno

Well, yeah...if they are a first year, they were in school making NOTHING, so they are still 20k richer. Also, the first year teacher here in SE New Mexico makes around 40k. Ouch.
ps- farmers can easily make 200k+ a year. Don't let their bitching and moaning fool you. It's just a hard job. I have friends that are farmers (cotton and chili peppers) they make a killing...and when the weather doesn't cooporate with them, they get government assistance.

Umm...errr...never....mind...{sigh}.