This is fair??
Pay no taxes and still get a refund
Monday, February 18, 2013 by Uvah | Discussion: Community
Sorry but this has to be said. Facebook posted an enormous profit for 2012 to the tune of 1 Billion dollars. Paid no income taxes and got a refund of 429 million dollars. No wonder this country is so f****d up. It really pissed me off!
 |
|
Page 2 of 2 | |
|
|---|
Reply #22 Tuesday, February 19, 2013 5:18 PM
Cut out most of the costs dealing with collecting taxes. No tax forms to fill out, not deductions or exemptions to worry about, and take away the fear of some folks about earning too much money (there may be some). Flat Tax is the answer, your employer all ready deducts estimated taxes and sends them to the Government. Why must they be estimated. What ever the rate, 5 or 10 cents of each dollar earned goes to the Government, end of story. Do the same for states that have Income Tax.
Yeah, there will be lots of folks that will say that can not work, but really there is no logical reason why not.
Give it some thought, it won't hurt.
Agreed, but no breaks at all for corporations or the rich! If they were to have a flat let's say 10% tax for everyone that earns above poverty level, but not retirees (unless they make over $250K a year) or the disabled, that should do well enough. Gee, let's see... if Facebook and all those other rich companies/individuals would have had to pay a 10% tax.... lets see, uhmmm... well, that should cover the government programs I would think.
Reply #23 Tuesday, February 19, 2013 5:39 PM
No exceptions or exemptions across the board LightStar. I know it sounds harsh and cruel when you talk about poverty levels, retirees and disabled. As soon as you allow 'wiggle room' everyone will want on the dance floor. Heck the rate if applied to everyone equally might be able to be less then 10%, maybe more in the 5% range. The important thing is you cut out the cost of the IRS and other oversight costs. That has to be a big savings there. The revenue from Income Taxes just goes straight into the Treasury.
It's not like the wheel is being reinvented here, just some logic and common sense being applied to solve a problem.
Reply #24 Tuesday, February 19, 2013 6:08 PM
Here's a though that might make your head explode. Raise taxes on the corporations - will they just eat that? Of course not, they'll raise prices to cover it, plus a percentage of that to get their desired rate of return. If what they sell goes to say a distributor, then the distributor will raise their prices the amount of the increase to them, plus an extra percentage to get their rate of return on that increase, plus an extra percentage to pay for their own new higher tax costs. Then the retailer will raise their prices to cover the additional cost to them, plus an extra percentage to get their rate of return, plus an additional percentage to pay for their own new higher tax costs. The end consumer will, naturally, pay for all that.
I started to do the math on that but I don't think I want to.
Much better to tax everything more effectively on the tail of the process so it doesn't get all that marking up.
Please login to comment and/or vote for this skin.
Welcome Guest! Please take the time to register with us.
There are many great features available to you once you register, including:
- Richer content, access to many features that are disabled for guests like commenting on the forums and downloading skins.
- Access to a great community, with a massive database of many, many areas of interest.
- Access to contests & subscription offers like exclusive emails.
- It's simple, and FREE!
|
|
Page 2 of 2 | |
|
|---|
Reply #21 Tuesday, February 19, 2013 3:48 PM
If there was a way to just cut out some of the nonsense dealing with Income Taxes. We are going to pay taxes, I'm sure everyone will agree with that. The Government needs money to function, but they sure don't need to pay folks to audit tax forms.
Cut out most of the costs dealing with collecting taxes. No tax forms to fill out, not deductions or exemptions to worry about, and take away the fear of some folks about earning too much money (there may be some). Flat Tax is the answer, your employer all ready deducts estimated taxes and sends them to the Government. Why must they be estimated. What ever the rate, 5 or 10 cents of each dollar earned goes to the Government, end of story. Do the same for states that have Income Tax.
Yeah, there will be lots of folks that will say that can not work, but really there is no logical reason why not.
Give it some thought, it won't hurt.