Because They've Earned It

[glatt]

Originally Posted by Flint

Discussing flat tax means we also have to consider polygamy, because the underlying principles would make us a hypocrite othewise.

But only because of the unfair nature of the head of household filing status instead of the multiple discounts one should get for each marriage.

[Flint]

huh? :::shoots you in the face:::

[glatt]

[Shocker]

Originally Posted by Happy Monkey

Further note (I'm not saying you don't know this, but I have run into people who didn't): The top earners are not taxed 35% on their entire income; just the part over a certain limit. Everyone gets a certain amount of income tax-free, then a certain amount taxed at 10%, then a certain amount taxed at the next level, etc, and the remainder is taxed at 35%. There is no point, based purely on the progressive tax system, at which earning a dollar more will cause your taxes to increase by more than 35 cents. Deductions, credits, AMT, etc. can do weird stuff, though.

I actually did know this (I'm an accounting studend for those who wondered) but I didn't mention it for simplicity sake. If you are in the top tax bracket, then the actual amount you will be taxed would be $97,653.00 plus 35% of the amount over $336,550.

Originally Posted by Happy Monkey

The biggest problem with "flat tax" discussion is that the idea of a single tax rate and the idea of eliminating deductions and credits are in no way tied together. Removing deductions and credits could be done just as easily with progressive tax rates, and removing progressive tax rates could be done while leaving deductions and credits in place. Arguing the merits of one doesn't transfer to the other.

You are right that those options are not dependent on each other nor are they mutually exclusive. As they say, only 2 things are certain in this world, death and taxes, and we can talk about the fine points for hours upon hours. I was just trying to give those who maybe didn't know much about any of the options out there a bit of a foundation and starting point so they can begin their own research into what they like and dislike about them. All of them are completely customizable and bits and pieces can come and go to fit most situations. I've heard of flat tax rate plans that are based off of all earnings, regardless. I've also heard of others where there is a generous cost of living deduction for all, anywhere up to $20000 so that the first $20000 you make isn't taxed, and then all income starting at $20000.01 is taxed at the flat rate. Personally, I like what I've seen of the Fair Tax which I linked to in my other post, but like I said, I just wanted to give at least a basic foundation so that others knew some of the options.

***Disclaimer*** the above tax rate is taken from the 2006 Single tax schedule. It could be different based on your filling status.

[Shocker]

Originally Posted by glatt

But only because of the unfair nature of the head of household filing status instead of the multiple discounts one should get for each marriage.

LOL there's a discount? Like buy one get one free? Or just 15% off your 3rd wife?

[glatt]

Originally Posted by Shocker

LOL there's a discount? Like buy one get one free? Or just 15% off your 3rd wife?

I can't answer you, Flint shot me.


But if I could reply, I'd say that while DINKs have a marriage penalty, the polygamists make out like bandits with the multiple marriages. You just have to use form 1040P, for polygamists.

[Shocker]

Thanks glatt! oh and I hear you get an additional deduction off your state taxes if you live in Utah.

[Shawnee123]

Originally Posted by glatt

I can't answer you, Flint shot me.


But if I could reply, I'd say that while DINKs have a marriage penalty, the polygamists make out like bandits with the multiple marriages. You just have to use form 1040P, for polygamists.

Hey man, that's unfair. So, if I were still married, and (theoretically) were ABLE to attract one more man, I'd make out in my taxes? That is discrimination towards the terminally un-mateable.

[yesman065]

Hows the weather in here?

[Shocker]

Originally Posted by Shawnee123

Hey man, that's unfair. So, if I were still married, and (theoretically) were ABLE to attract one more man, I'd make out in my taxes? That is discrimination towards the terminally un-mateable.

Just find a few illegals that want to stay in the country. You can marry them so they get a green card and you save on taxes

[Flint]

Can we not discuss taxation, and polygamy, without flying off the handle on these flights of fanciful emotionality? People don't wanna pay taxes? Boo-Hoo. I don't have the superhuman omnipotence to lump these issues into a neat package that I feel like caring about. Houston, we have a problem. These tax-mongers are hijacking a perfect discussion about automobile maintenance with their blustery hoopla about poor old granny lazy-bones and her addiction to heating oil. Go tell a bigger fool than myself. I hate America, er, I mean, I hate Americans, er, I mean, hate minorities, damnit, why do I keep saying this stuff? No! Listen to me! You are stupid and I am going to save you from yourselves, and the other guy who says he wants to save you, but really wants to teach you about the no-huggy zones.

[Shawnee123]

Quit bogartin' that shit, Flint!

[xoxoxoBruce]

So the Federal Government will flat tax my income at 10% and the State will give up their sales tax revenue? I don't think so.

Is the state going to get a piece of the 10% flat tax to replace the sales tax money?.....and the state income tax money?......and the local income tax, they just instituted, to give property tax relief? No way.

Why not? Each state gets their percentage.

[Happy Monkey]

Originally Posted by rkzenrage

Why not? Each state gets their percentage.

You think they'll be willing to let the Feds determine that percentage?