rockydem
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Thu Nov-04-04 11:41 AM
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Could tax reform be a winning issue for Democrats? |
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Have you ever tried to read the tax code? It's hopelessly complicated and byzantine. It's almost irrational with all the interlocking laws and exemptions and deductions that have been added throughout the years. You can study it for months and still not understand it.
It *feels* like big government. It *feels* like a government that is out of control.
I'm not talking about cutting taxes. I'm talking about making them understandable.
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trotsky
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Thu Nov-04-04 11:42 AM
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1. And Me-publicans have constantly harped about it |
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but have never done a thing to simplify it. Could be a possibility there. But deductions are the lifeblood of the middle-class too - for mortgage interest, kids, etc. And small business.
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rockydem
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Thu Nov-04-04 11:49 AM
Response to Reply #1 |
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But maybe just make it more understandable - more user friendly so to speak. As it exists now - it's a goddamn nightmare.
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napi21
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Thu Nov-04-04 12:01 PM
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3. It could be if it was done right. |
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I happen to think the best idea would be to completely erase the current tax code and start with a blank piece of paper.
Deductions would be made for only a few things: Personal exemptions:
*dependants *medical expenses *interest on anything (mtg., cr. cards. etc) *State income taxes paid
Busniess expense deductions:
*Limited travel expense based on a per day allowence and a standard plane ticket (no first class). *medical expenses *salary expense only up to the companies average (ie: average not including executive pay rate for the individual company)
All other special exemptions would be gone! All income would be taxable based upon the current tax tables, and the rates could be reduced at each level because all the special treatment would be gone!
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rockydem
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Thu Nov-04-04 12:47 PM
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4. I like that kind of thinking |
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Honestly - I think tax reform could be a winning issue for us.
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napi21
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Thu Nov-04-04 12:57 PM
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5. I can honestly see a great celebration burning the 45,0000 pages! |
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The big problem I see is that we would have a couple of big blocks against us. Tax accountants make lots of $$ and they'd be out of a job!!!!
Corporations are getting a HUGH benefit from all those hidden loopholes, and they won't give them up easily either!
I don't know if there are enough individual americans to offset them!
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rockydem
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Thu Nov-04-04 01:19 PM
Response to Reply #5 |
6. Good it would would be good populist fight |
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against the accountants and corporations...
I'm not a tax expert. But I'm going to look into this issue.
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LeftyChristian
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Thu Nov-04-04 01:56 PM
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7. Almost on the right track |
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You have to allow deductions to charitable organizations, otherwise many will have to close their doors due to the loss of a tax shelter for potential donors.
What about the states that have no income tax?
Finally I think that dedcution of ANY interest is a bad idea. You are giving those with giant credit card bills no incentive to pay them off and work toward becoming debt free. I am assuming that you are including property taxes in the ANY interest category.
Home mortgage loans need to be looked at long and hard. On a typical 30 year note, a homeowner will end up paying more than the purchase price of the home over the life of the loan. Banks do not need huge elaborate branches and gaudy main offices. Give me a bare bones building with competent employees and the banks can stop gouging homeowners.
Good start, but a bit rough around the edges.
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oscar111
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Thu Nov-04-04 02:14 PM
Response to Reply #7 |
10. Home loan: 3X the house value is what you pay |
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you end up paying , with interest, three times the house's value.
it is absurd.
Like you build three houses, to get one to live in . The other two are gifts to the banker, to live in.
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Claire Beth
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Thu Nov-04-04 02:00 PM
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8. The tax reform that Bush is wanting.... |
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is to practically do away with the income tax as we know it and have a national sales tax. Sales tax is a regressive tax. It hurts the middle class DEEPLY.
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oscar111
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Thu Nov-04-04 02:11 PM
Response to Reply #8 |
9. Before WW2, only the top ten percent taxed |
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Another idea is Gen Clark's offered during the primaries... shift all off the middle class.
Another idea is the "clean step " tax idea. Same stepwise increases as today, but with all the complex deductions swept away.
Today's code is fully insane. Dont mince words. Future historians will laugh at us and also pity us.
GDP is ten Trillion.
Sales tax should be abolished. Regressive, and millions of man hours wasted on its brainless details. Totally garbage details that waste human thought-time.
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ClassWarrior
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Thu Nov-04-04 02:15 PM
Response to Original message |
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Edited on Thu Nov-04-04 02:15 PM by ClassWarrior
The phrase "tax reform" is a Radical Rightwing phrase that frames all taxes as bad. Therefore, the phrase "tax reform" just reinforces the irresponsible Bush* taxy policy. Yes, we could score points on cleaning up the tax system - and making it fairer - but we need to call it something else. Tax fairness? Responsible taxation? Any ideas?
Read George Lakoff's "Don't Think of an Elephant" for more insight on "tax reform" and framing.
NGU.
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Fri Apr 19th 2024, 04:44 PM
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