A Flax Tax Lesson from Mexico

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To implement a new taxing system - we need to dump all the politicians. I mean all. I come to that conclusion by simply looking at their track records. ... Read More 

To implement a new taxing system - we need to dump all the politicians. I mean all. I come to that conclusion by simply looking at their track records.
Next - do away with all these insane government jobs. In other words - shrink the government down. ... It will probably shrink itself - because, shortly the government is going to finally admit the US is bankrupt.

In short - we have to clean up and get rid of the dipsticks that are the driving force in the directions our government is going.
We can not throw new ideas into this endless pit of corruption and expect them to work.

 

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I believe that all income should be taxed. The rates
should be set based on the amount needed to fund a
reduced government and start paying down our debt.
Even if the ... Read More 

I believe that all income should be taxed. The rates
should be set based on the amount needed to fund a
reduced government and start paying down our debt.
Even if the low income person pays only one or two
percent, it would give them a skin in the game. All
deductions and exemptions would be eliminated.
The maximum monthly social security benefit for
2012 is $ 2513.00 a month resulting in excess of $30,000.00 annually or about 14.50 per hour. I think the refund
should probably kick in at the minimum benefit.
The national sales tax could accomplish all of
the above but should result in all contributing no
matter how small.
As usual, I enjoy the debate and certainly value
your opinions. Have a great weekend.

 

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There would have to be a mechanism within the sales tax law to allow for refund of most of the tax if the taxpayers income is below a certain amount, perhaps an amount equal ... Read More 

There would have to be a mechanism within the sales tax law to allow for refund of most of the tax if the taxpayers income is below a certain amount, perhaps an amount equal to the maximum SS retirement benefit. This would not be an exemption. If you have read the fair tax proposals you realize this is not a simple fix. Or perhaps you are satisified with the current tax plan. Or maybe you have a plan that you consider to be a better one. If so I would like to hear of it.

 

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Muse......my apology.....I assume that since your
national sales tax proposal would tax all persons
on social security, you are not against taxing
all persons on social ... Read More 

Muse......my apology.....I assume that since your
national sales tax proposal would tax all persons
on social security, you are not against taxing
all persons on social security regardless of what
the tax is called. Am I correct ? Or maybe you
omitted exemptions for certain special interests in
your proposal.

 

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Grouch you should not put words in other peoples mouths. I did not say that I was against taxing SS benefits on high income level folks. The original intent of SS as far ... Read More 

Grouch you should not put words in other peoples mouths. I did not say that I was against taxing SS benefits on high income level folks. The original intent of SS as far as I know was to assist lower income level folks. Of course, as with most government programs, the original intent was lost long ago.

 

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Clarification.....the total amount of money cited as received
from Social Security is in 2012 dollars.

 

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Muse and One Voice.....You both support a national
sales tax which would impact persons on social security
but are outraged about income taxes on social security
benefits ... Read More 

Muse and One Voice.....You both support a national
sales tax which would impact persons on social security
but are outraged about income taxes on social security
benefits for certain income level folks. That sorta
strikes me as being slightly inconsistent.

 

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One Voice.......I pay taxes on a portion of my Social
Security but I could avoid them by making less money.
I also pay income tax on my military retirement pay
which I ... Read More 

One Voice.......I pay taxes on a portion of my Social
Security but I could avoid them by making less money.
I also pay income tax on my military retirement pay
which I don't mind. I believe that all income should
be taxed which would enable each of us to maintain
a measure of self respect. Since you believe that a tax
(such as the national sales tax) where everyone pays would be a fair tax, I'm sure you agree.
During my working years, the social security tax
and taxes associated with it have increased 21 times.
In 1949, the maximum annual contribution was 30 dollars.
With the matching employer contribution this comes to
5 dollars per month. In 1969. the annual contribution
had increased to 374 dollars which matched with the
employer contribution resulted in a maximum contribution
of just over 62 dollars a month. It should be pointed
out that the above amounts are the maximum amount and
that everyone did not pay that much. So we have a large
portion of persons receiving social security benefit
(myself included) who did not contribute a fair amount
for their retirement. I have received over a quarter
of million dollars in social security checks which I
can assure you is in considerable excess of my
and my employers contributions. Of course people paying
the current rate will not be as lucky. Thank you Ponzi.
I'm just hoping no claw back is planned....LOL

 

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Muse - we are on the same page.

What is completely insane is - if a MFJ makes over a certain amount (I believe this year it was $32,000.00 - that will include 50% of their ... Read More 

Muse - we are on the same page.

What is completely insane is - if a MFJ makes over a certain amount (I believe this year it was $32,000.00 - that will include 50% of their SS check)..
These elderly get taxed on their SS.
Just insane.

 

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The selfish mental attitude of "do away with all the loopholes and exemptions except mine" is part of what got us into this financial morass in the first place. ... Read More 

The selfish mental attitude of "do away with all the loopholes and exemptions except mine" is part of what got us into this financial morass in the first place. Face facts folks, if this Nation is to survive as a Constitutional Republic many unpopular but necessary decisions are going to have to be made. Government size and spending must be cut. I am talking about real cuts to spending, not cutting the increase in spending. Everything must be on the table. Moaning about about cuts to your favorite program does not balance the budget. This is going to hurt everyone if it is done properly. Those of us that are older are the most to blame. We allowed most of the social programs to be passed and the governmant nany state to be born. We should have stood up years ago and put a stop to it. Thank God for the current conservative uprising. We may yet survive.