Speaking of taxes........

[Hyoi]

At what rate would you tax capital gains? Corporate profits? The above example is for working stiffs like I was for the better part of my life. Now I'm just stiff as a result.

Something wrong with a uniform rate for ALL forms of income? That was the original question, was it not?

[Happy Monkey]

Originally Posted by Hyoi

At what rate would you tax capital gains? Corporate profits?

That's what I'm asking you. There's no line for it on your form.

[glatt]

Just for kicks, I pulled out the 1040 we just filed and then figured out what my tax would be with the form you posted above, and my tax would be 2.8028 times what it is now. I'm opposed to it.

If you are curious as to my economic status, our household is below the average for households in this area. I would consider us to be middle class on the national level, but slightly lower than middle class for this metropolitan area. But then we just have one income, so it's to be expected.

[Hyoi]

Originally Posted by glatt

Just for kicks, I pulled out the 1040 we just filed and then figured out what my tax would be with the form you posted above, and my tax would be 2.8028 times what it is now. I'm opposed to it.

If you are curious as to my economic status, our household is below the average for households in this area. I would consider us to be middle class on the national level, but slightly lower than middle class for this metropolitan area. But then we just have one income, so it's to be expected.

Did you not say that you paid little or no taxes? What is 2.8028 x (little or no) ? You've argued strictly for your individual position but you've yet to state a logical argument against the fairness of the overall plan. Once a money making entity, be it family, sole proprietorship, partnership, or corporation, achieves a predetermined level of income/profit, taxes are levied on such at a single percentage rate. ALL income is equally and therefore fairly taxed. You owe me a donut hole.

Next !

[glatt]

Originally Posted by glatt

my tax would be 2.8028 times what it is now. I'm opposed to it.

Originally Posted by Hyoi

You've argued strictly for your individual position but you've yet to state a logical argument against the fairness of the overall plan. ...

Next !

I'd be a sucker if I supported a flat tax. A flat tax would hurt me. If you were me, would you support a flat tax? I suspect that many middle class people would find themselves in the same situation if they filled out this form.

Fair? Why should I pay more taxes so Donald Trump can get a larger refund?

[Hyoi]

Originally Posted by Happy Monkey

That's what I'm asking you. There's no line for it on your form.

Incorporations can't have children. Use your imagination and visualize the first line reading simply......Gross Profits, Cash accounting method.

Next !

[Happy Monkey]

Originally Posted by Hyoi

Incorporations can't have children. Use your imagination and visualize the first line reading simply......Gross Profits, Cash accounting method.

Corporations are irrelevant. People can have capital gains, by owning stock, among other things. The fist line specifies wages, which are often an insignificant part of the income of the wealthy.