What should the income tax rates be?

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Both corporate and individual, and for churches if you believe they should be taxed.

What would you set the tax rates for corporations?
What tax brackets would you set for individuals and what rates?

No need to explain or justify, just state what the rates should be.

[Donnachaidh]

1. ....

:popcorn:

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2. We pay our taxes in popcorn?

[bbinacan]

4. Can you pass the butter?

Thanks.

:popcorn:

And a little salt too.

[Sherman A1]

3. Return with us know to those thrilling days of yesterday....

Take the rates back to about 1950 or so and I do like taxing churches, but neither idea have a chance of happening.

[nosmokes]

5. If you're gonna tax the racetrack then you sure oughta tax churches

lot more fervent prayers at the track(and praising the lord for that matter) than happens in church I'll wager...
top rate of 95% down to zero

[Skink]

6. It's very hot in Texas. We should tax the heat.

[madinmaryland]

8. I think they tax the Heat in Miami.

Sorry, that was bad!

[Zanzobar]

13. If you try to walk, they'll tax your feeeeet.

[bluestateguy]

7. Hmmmmm

I would have a 40% rate for $250,000-$1,000,000 and then a %50 rate for over one million.

Phase in a gradual lifting of the earnings cap on FICA taxes to keep SS and Medicare solvent forever.

Levy a small tax on every stock transaction.

Corporate taxes rates are fine where they are. It's the damn loopholes that need to be closed.

I oppose any Value Added Tax.

And churches, synagogues and mosques, etc. should pay taxes.

[theothersnippywshrub]

9. I have no idea. But I do have ideas on what the tax code for individuals should be like.

There should be only one federal tax on income.

There should be only one filing status.

There should be only one type of income.

There should be no itemized or standard deductions.

There should be a relatively small personal exemption amount and a relatively large dependent exemption amount. These should be the only adjustments to gross income in determining taxable income.

The lowest marginal rate should be very low, but apply only to a relatively small amount of taxable income.

The top marginal rate should be imposed only on very high income levels.


The corporate tax code is such a morass of corruption and bribery that reform is nearly impossible. However, I like the idea that publicly traded companies must report the same amount of income to both the IRS and the SEC. Non-publicly traded companies should be required to report income using GAAP, with no adjustments.


Churches should be taxed like any other business, but the definition of reasonable business expenses of a church obviously would be different than for most other businesses.

[notesdev]

10. Zero

A less efficient and more invasive tax one could not dream up. Income taxes - especially with the byzantine set of deductions, exceptions, etc. - are the foundation of the astonishingly regressive tax system that we now operate under, to say nothing of the endless opportunities for malfeasance it provides.

The income tax deduction for home ownership played an important role in creating the housing bubble that has wrecked our economy. Other deductions (mostly provided only to the wealthiest) further distort economic activity in non-productive ways.

If you're going to make a tax, make it a sales (consumption) tax. Personally I'd like to see the government mostly funded on tariffs rather than taxes, that would equalize the playing field in international trade and bring back more than enough jobs to get this country working again. But of course that will benefit the lower and middle classes most, so you'll never see it happen.

[txlibdem]

11. Tariffs? With our free-trade-lovin' President?

Tariffs would never even be suggested, let alone signed into law. Now, if we had a Democratic President instead of our current center-right Republican (in Dems clothing) President it'd be a different story.

[Broke In Jersey]

12. Totally agree with Tariffs for taxes

Any nation would kill for the opportunity to sell their goods here and if they don't....just watch them build tons of blue-collar factories here!!!

[Yupster]

17. Our country survived for 100 years

without an income tax by financing its operations with tariffs.

[billlll]

14. New cures 4 your ills wd result if the smart tax experts were shifted

From our insane tax code to med research

Following a dramatic simplification of taxes.

Imagine that army of smart folks finding cures for your ills.

Todays code wastes those brains.

I hate waste.

[krispos42]

15. 60%, with a deductable that is twice the median income

I think median income is about $40k, so everything a a single person makes over $80k gets taxed at 60%. Double that for married couples, and include the usual deductions for kids.


I would add onto this a flat tax of maybe 5% to pay for Social Security, and maybe a 10% tax to pay for universal-single-payer health insurance.

It would look like this for up to $250,000 a year taxable.






And like this for up to $2.5 million a year taxable

[donheld]

16. Is there a tax on Country Club memberships?

Just asking.