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Brian HCM#1

Don’t feed the troll
Sep 7, 2001
32,311
400
Bay Area, California
Steve Jobs had a salary of $1, yet he somehow bought a new Porsche 911 every 6 months to avoid registration. I get that California registration is expensive, but that hardly seems like a good financial move for a guy making $1 a year.

So maybe an income based tax isn't the answer. Maybe a "you have more money than God, so you give 25% of it" is.

I'm all for folks having money, but you can't give me a use case that justifies 400 billion.
Right, however you can't tax unrealized capitol gains. You take home one mega paycheck, pay initial taxes on it and then live off it for 10 +/- years. I'm sure Jobs leases the car, and get the write off too.

I'm for a straight flat tax across the board, say 20-25% for example that would cover fed, state (like here in CA), SS, Medicare etc. Everyone from the ones that make $15K-$400M all pay the same percentage and no write offs. Your paycheck would have the taxes withdrawn and 1099's would pay their 20% per quarter on earnings. That would alleviate April 15th which wouldn't suck. Then EVERYONE would be paying their fair share.
 

ALEXIS_DH

Tirelessly Awesome
Jan 30, 2003
6,270
892
Lima, Peru, Peru
Right, however you can't tax unrealized capitol gains. You take home one mega paycheck, pay initial taxes on it and then live off it for 10 +/- years. I'm sure Jobs leases the car, and get the write off too.

I'm for a straight flat tax across the board, say 20-25% for example that would cover fed, state (like here in CA), SS, Medicare etc. Everyone from the ones that make $15K-$400M all pay the same percentage and no write offs. Your paycheck would have the taxes withdrawn and 1099's would pay their 20% per quarter on earnings. That would alleviate April 15th which wouldn't suck. Then EVERYONE would be paying their fair share.
Anybody who can afford an accountant will pay significantly less than the 25% flat tax.

As you said, once you have significant wealth, you can structure your salary to whatever you want and deduct everything else.
 

Adventurous

Starshine Bro
Mar 19, 2014
10,999
10,234
Crawlorado
Right, however you can't tax unrealized capitol gains. You take home one mega paycheck, pay initial taxes on it and then live off it for 10 +/- years. I'm sure Jobs leases the car, and get the write off too.

I'm for a straight flat tax across the board, say 20-25% for example that would cover fed, state (like here in CA), SS, Medicare etc. Everyone from the ones that make $15K-$400M all pay the same percentage and no write offs. Your paycheck would have the taxes withdrawn and 1099's would pay their 20% per quarter on earnings. That would alleviate April 15th which wouldn't suck. Then EVERYONE would be paying their fair share.
Ah, the flat tax fallacy. One of those things that sounds good, if you don't know how life works.

Know what would make April 15th not suck? Get rid of the tax preparation industry. Boom. Billions of hours and billions of dollars saved.

1000008818.jpg
 

6thElement

Schrodinger's Immigrant
Jul 29, 2008
17,601
15,127
Ah, the flat tax fallacy. One of those things that sounds good, if you don't know how life works.

Know what would make April 15th not suck? Get rid of the tax preparation industry. Boom. Billions of hours and billions of dollars saved.

View attachment 225576
I'd never done a tax return until I moved to the US. As here, tax is deducted by employer but interest on savings is taxed by the financial institutions. There is no prep/return/weird deduction BS to deal with as an employed person.
 

Adventurous

Starshine Bro
Mar 19, 2014
10,999
10,234
Crawlorado
I'd never done a tax return until I moved to the US. As here, tax is deducted by employer but interest on savings is taxed by the financial institutions. There is no prep/return/weird deduction BS to deal with as an employed person.
I don't know about you, but I look forward to doing my taxes every year. Making a good faith effort to accurately record (for the low low price of $80!) all my financial dealings while attempting to interpret an often convoluted and arcane set of tax laws, all under the premise of having life as I know it ruined if I make a mistake, warms the cockles of my heart.
 
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Brian HCM#1

Don’t feed the troll
Sep 7, 2001
32,311
400
Bay Area, California
Anybody who can afford an accountant will pay significantly less than the 25% flat tax.

As you said, once you have significant wealth, you can structure your salary to whatever you want and deduct everything else.
That's why you would do a straight tax with no deductions, so you can't write off mortgage interest, charity donations, child care etc. No accountants necessary. You make $100K for the year, your percentage of $25K is deducted every paycheck until December 31st you owe the government nothing. That money is then allocated to FED, state tax, SS, Medicare & Roth IRA if you have one etc.

Corporations are the tricky one because they provide employment in which that money gets pumped back into the economy like people buying homes, spending at restaurants, buying goods, etc. Right now large companies are leaving CA because of their tax policies and/or government restrictions in which is a big reason CA is in debt up to our ass.

What's is really the fucked up part is the US takes in plenty of money to be debt free, its the wasteful spending by congress that has put us in this mess. Not a Democrat/Republican president, but congress. Case in point, Musk took a 1500 page spending bill and reduced it to 125 pages. There is so much bullshit spending on both sides and it needs to stop now! Take a look at some of the stuff they tried to pass, it's sickening. Unfortunately our government doesn't care what they spend because they aren't the one footing the bill, it's us. Most responsible adults don't spend more than they make and try to live within their means. It would be nice if our government treated it the same.
 

Muddy

ancient crusty bog dude
Jul 7, 2013
2,200
1,162
The Other Farmington CT
Pretty much very accurate
Pithy statement.

Also 'Pretty much very accurate' re: President Hope is while Immigration & Deportation were a policy (waahhhh...) during that Administration, there was never anything resembling what has preceded Donnie J's action(s) in Office.

Insulting Medal Of Honor Recipients, Families of MOH Recipients
Insulting of POW / Former US Senator
Traveling to another Country and the uninvited insulting of Veterans during a Day of Remembrance
Traveling to another Country entirely against US Intelligence Advisory
Cancel Presidential Daily Briefings
Appoint 4x the no. of Lobbyists than previous President
Use public Internet portals as a means and ways of conducting the duties of the White House
Use Sharpie Pen as a means and ways to violate NOAA Administrative Order on Scientific Integrity
Maintain what's so-far been the most fact challenged Presidential Administration
Be forced into a Competency Evaluation

That's just an iota.
 

mandown

Poopdeck Repost
Jun 1, 2004
22,344
9,616
Transylvania 90210
A few examples of folks recognizing that after voting for Trump the chickens that came home to roost aren't bearing any eggs at all.
I watched the first 3 minutes, and skimmed the rest. It is what it you'd expect.

 

4xBoy

Turbo Monkey
Jun 20, 2006
7,464
3,595
Minneapolis
Maybe, I don't know, have more farms with less chickens so if there is an outbreak, half the supply isn't gone in a day.

Kinda like that old line, don't put your eggs in one basket.

Whatever, I'm just talking crazy.