Blow Up the Tax Code and Start Over

[bcoop]

Maybe you make more and are in a higher tax bracket?

Possible, yes, but if I recall correctly my effective tax rate was in the same range when I was single, not making shit, and qualified for EITC.

[slow99]

Possible, yes, but if I recall correctly my effective tax rate was in the same range when I was single, not making shit, and qualified for EITC.

Are you using w2 income or gross income in the denominator?

[Ruffdaddy]

Screw yall. I know i dont make more than all of yall and i pay like 17-18% at least. Screw that shit!

[slow99]

Well this thread made me curious so i checked ... 2014 was 12.4% bitches!

Last full year in San Francisco was 16.2% Federal and 6.5% state.

[Broncojohnny]

Then under Paul's proposal, it would be 14.5%.

It will piss off a lot of poor and middle class people when they realize what a huge drop in taxes that rich people and corporations will get. But you also have to remember that those are the very entities that create jobs. There would be more money to get people into the workforce and upwardly mobile, as opposed to shifting it over to the government black hole of corruption and waste.

I am 100% willing to give it a shot. It is not feasible - or fair - to have the tax system remain the convoluted money redistribution scheme it is today.

Oh Danny, that is trickle down economics. According to the liberals that doesn't work.

I have never had the government mail me a job in an envelope. I have also never been hired for a job by a bum living under a bridge. So I am starting to think maybe it is the liberals who are wrong.

[Broncojohnny]

BP - I'm curious as to how your effective tax rate is under 10% being DINKs. I've got a house, make retirement contributions, donations, and have children, and my effective tax rate is typically 12-15%.

Your income has to be low enough to start getting into that sweet tax credit area of the scale. Like $50K in combined income with a two parent household and four kids. You'll write off $20K of income right out of the gate then the credits start rolling in.

[slow99]

The $2 trillion cut number = the total tax receipts over 10 years would be more than $2 trillion less than the current system.

[BP]

BP - I'm curious as to how your effective tax rate is under 10% being DINKs. I've got a house, make retirement contributions, donations, and have children, and my effective tax rate is typically 12-15%.

Around 35% of my wife's pay is in the form of allowances, which aren't taxed. I'm also figuring combined gross income to actual federal taxes paid. Not considering medicare or social security because I'm guessing a proposed flat tax won't include those.

[Broncojohnny]

The $2 trillion cut number = the total tax receipts over 10 years would be more than $2 trillion less than the current system.

Sounds like a net positive for the economy.

[Roscoe]

I would love to see Rand's tax plan put into place, but the ones (as mentioned above) that use the government as a hand out system would never vote for him.... IF he got the nomination.