Republicans Fair Tax Act

[Boyz N Da Hood]

This is the hidden content, please

• Sign In
• or
• Sign Up

[Boyz N Da Hood]

It won't pass obviously but I struggle to see how this helps the working ppl, help me out if yall can

Try not to do the "whatabouts" cop out

[JSnipes]

I think it helps the upper class and lower class, but it won't help the middle class...at least from what I have read. I read that if you are under a certain income line you would receive some amount of money each month to help. I think it would keep people who are frugal, like me, from buying some items. Perhaps I'm wrong on that, just my thoughts.  

If you want a Fair Tax then how about you do this...everyone pays the same tax percentage. No matter how much you make everyone pays 10% or 12%. 

[DonTheCon2024]

1 hour ago, JSnipes said:

I think it helps the upper class and lower class, but it won't help the middle class...at least from what I have read. I read that if you are under a certain income line you would receive some amount of money each month to help. I think it would keep people who are frugal, like me, from buying some items. Perhaps I'm wrong on that, just my thoughts.  

If you want a Fair Tax then how about you do this...everyone pays the same tax percentage. No matter how much you make everyone pays 10% or 12%. 

There will never be tax reform because there are entire industries and massive lobbying to keep it the way it is

 

The same way big pharma, cops and prison industrial complex want to keep marijuana illegal 

 

99.9% of the time, you can just follow the money  

[DonTheCon2024]

So I just read the article and that’s stupid as hell. It’s inherently a regressive tax on working class families who spend a higher percentage of their income on necessities and living expenses

[SmashMouth]

7 minutes ago, DonTheCon2024 said:

So I just read the article and that’s stupid as hell. It’s inherently a regressive tax on working class families who spend a higher percentage of their income on necessities and living expenses

Possibly, but in my opinion there's not enough information in the article alone to really understand the proposal.

[TxFan]

More taxes, imagine that... which side is pushing this?

[LumRaiderFan]

6 hours ago, JSnipes said:

I think it helps the upper class and lower class, but it won't help the middle class...at least from what I have read. I read that if you are under a certain income line you would receive some amount of money each month to help. I think it would keep people who are frugal, like me, from buying some items. Perhaps I'm wrong on that, just my thoughts.  

If you want a Fair Tax then how about you do this...everyone pays the same tax percentage. No matter how much you make everyone pays 10% or 12%. 

Agree, been saying this forever, how can it get more fair?

That way when folks start talking about raising taxes, everyone has skin in the game.

[Reagan]

6 hours ago, Boyz N Da Hood said:

This is the hidden content, please

• Sign In
• or
• Sign Up

BTW, it says a "group" of Republicans are pushing this.  I wonder how big this group?  2?   CBS is the source of this so prolly fake news!

[Boyz N Da Hood]

13 minutes ago, Reagan said:

BTW, it says a "group" of Republicans are pushing this.  I wonder how big this group?  2?   CBS is the source of this so prolly fake news!

There's other links you can read up on about it... RINO is a good cop out when your side does stupid stuff.. I'm sure it's coming

[tvc184]

 Notwithstanding that I don’t like the idea of a same percentage flat tax….
 

I find it funny that “tax experts” warn about this plan.

I will translate:

 This plan, WHICH WOULD END “MY” CAREER…. is a bad deal! You people need to keep a system in place where it requires an expert (me) to even understand it and charge you big bucks.

Conflict of interest on an opinion?  

[Eagle11]

16 minutes ago, tvc184 said:

 Notwithstanding that I don’t like the idea of a same percentage flat tax….
 

I find it funny that “tax experts” warn about this plan.

I will translate:

 This plan, WHICH WOULD END “MY” CAREER…. is a bad deal! You people need to keep a system in place where it requires an expert (me) to even understand it and charge you big bucks.

Conflict of interest on an opinion?  

This.......if you read most negative views on this it is from tax people. Heck yeah they won't like it because they will be obsolete. 

I don't know enough about it to know if it is good or bad. I like the idea of having a choice on how much I pay in taxes. Example, when it is time to buy a vehicle do I get the loaded truck and pay a higher tax or do I choose a lesser truck and control what I send the government? 

I know taxes are a necessary evil, my issue with taxation is the tax code. Eliminate the thousands of pages of write-offs and just do a simple tax. You make $100k you owe $15k. You make $10 million you owe $1.5 million. Simple.....every pays their fair share. People mad that Donald Trump paid less taxes than you or I should be mad at the tax code not the percentage. He is just taking advantage of the system. They all do it. Clintons, Rockefellers on and on. 

I believe there should be a corporate tax for the companies. It should be fair. We want to encourage investment and growth but they should not get a free ride.

Just my $0.02

[bullets13]

They need to fix the tax return system as well, or just adjust things and get rid of it all together.  In a good year I might get around $1000 back, and some years we owe.  when I taught in beaumont there were parents of kids who lived in govt housing and didn't work, and they'd get $8-10K back every year.  And this was when Trump was in office, so it had nothing to do with these stupid child credits that Biden has been peddling.  How the heck do you get a massive tax return on taxes you didn't even have to pay?

[Big girl]

3 hours ago, bullets13 said:

They need to fix the tax return system as well, or just adjust things and get rid of it all together.  In a good year I might get around $1000 back, and some years we owe.  when I taught in beaumont there were parents of kids who lived in govt housing and didn't work, and they'd get $8-10K back every year.  And this was when Trump was in office, so it had nothing to do with these stupid child credits that Biden has been peddling.  How the heck do you get a massive tax return on taxes you didn't even have to pay?

How can one get money back if he doesn't work? Dont you have to have some income. (INCOME tax)

[baddog]

3 hours ago, bullets13 said:

They need to fix the tax return system as well, or just adjust things and get rid of it all together.  In a good year I might get around $1000 back, and some years we owe.  when I taught in beaumont there were parents of kids who lived in govt housing and didn't work, and they'd get $8-10K back every year.  And this was when Trump was in office, so it had nothing to do with these stupid child credits that Biden has been peddling.  How the heck do you get a massive tax return on taxes you didn't even have to pay?

I think that if you live below the poverty level, you get earned income tax credits and claim head of household.  It’s in the $1000s for sure. 

[LumRaiderFan]

2 minutes ago, baddog said:

I think that if you live below the poverty level, you get earned income tax credits and claim head of household.  It’s in the $1000s for sure. 

Definitely a flawed system that punishes  those that succeed and rewards those that are slackers.

[baddog]

15 minutes ago, LumRaiderFan said:

Definitely a flawed system that punishes  those that succeed and rewards those that are slackers.

Pays to be poor sometimes if you play the system right. 

[bullets13]

1 hour ago, Big girl said:

How can one get money back if he doesn't work? Dont you have to have some income. (INCOME tax)

One would think, but this isn't the case.  You can get it the same way that you can get free food, housing, phones, etc. without working... by the government using money from people who actually pay taxes to give it to you.  

[bullets13]

51 minutes ago, baddog said:

I think that if you live below the poverty level, you get earned income tax credits and claim head of household.  It’s in the $1000s for sure. 

It's well into the thousands.  I've seen signs around beaumont from tax places advertising these returns as well.  "Come to us and we'll get you a tax return up to $9500", or something like that.  I try not to go to beaumont, so I haven't seen one in awhile.

[CardinalBacker]

It's the ironically named "Earned Income Credit" where they "refund" money to you that you never actually paid in.  It's a windfall if you earn little to no money in a tax year, the government will send you a check to make it all better.  It's based on the number of people in your household, etc.  They can (and do) reach into the tens of thousands of dollars.  The best scheme of all is when you work here as an illegal immigrant but "pay" your taxes, you can claim all of your kids back home as dependents and since they aren't American, they have no Social Security Numbers..... and their existence can't be verified.  A citizen from another country can claim as many phantom dependents as he wants with no need to prove their existence, then the fact that he has so many dependents entitles him to Earned Income Payments.  They literally take their W2s to shady tax preparers (you know, the ones with billboards) and collect thousands of dollars from the federal government.  Can you blame them?  It's the IRS that's being stupid.  

I prefer a progressive tax.  People who make more should expect to pay more.  The wheels fell of when you have top earners paying closer to 50% of their top income in taxes, but get accused of "not paying their fair share" by people who not only don't pay, but instead receive generous gifts from the treasury.  And if you threaten to review the Earned Income Credit program, you're accused of "raising taxes on the poor" because you're threatening their gift.  It's insane. 

No one should be receiving a nickel back from the IRS that they didn't pay in.  

The really sad part is that everybody who cares to admit what is happening knows that those giant tax "refunds" are most often wasted.  A down payment on a new Kia, a set of rims, a new tv, or maybe some flashy clothes.... Nobody is setting that money aside to utilize throughout the coming year in an effort to improve their standard of living.  That's why the child tax credits from 2021/2022 were sent out in smaller increments... to space those funds out over time so people wouldn't blow it all on day 1.   So often those big "refund" recipients just head to the dealership, make a big down payment on a car that gets repossessed within six months and all they managed to do look good for a couple of months and ruin their credit.  

[tvc184]

3 hours ago, Big girl said:

How can one get money back if he doesn't work? Dont you have to have some income. (INCOME tax)

You do not need income in order to file a tax return or to get money “back” that you did not pay in.

 

 

[thetragichippy]

3 hours ago, Big girl said:

How can one get money back if he doesn't work? Dont you have to have some income. (INCOME tax)

I work in banking. I was doing a mortgage for someone and reviewed their tax returns. With child credits, they paid I believe $1800 in federal income taxes and received a $9800 or $9600 refund. They had several kids. 

I don't think someone that makes 20K a year should pay the same percent as someone making 100K a year, it should be lower......but I don't think someone making 20K a year should get a refund 5 times what they paid in....and I don't think you should be shafted with an outrageous percent because you are successful and have more money than most.......  

[Big girl]

7 hours ago, CardinalBacker said:

It's the ironically named "Earned Income Credit" where they "refund" money to you that you never actually paid in.  It's a windfall if you earn little to no money in a tax year, the government will send you a check to make it all better.  It's based on the number of people in your household, etc.  They can (and do) reach into the tens of thousands of dollars.  The best scheme of all is when you work here as an illegal immigrant but "pay" your taxes, you can claim all of your kids back home as dependents and since they aren't American, they have no Social Security Numbers..... and their existence can't be verified.  A citizen from another country can claim as many phantom dependents as he wants with no need to prove their existence, then the fact that he has so many dependents entitles him to Earned Income Payments.  They literally take their W2s to shady tax preparers (you know, the ones with billboards) and collect thousands of dollars from the federal government.  Can you blame them?  It's the IRS that's being stupid.  

I prefer a progressive tax.  People who make more should expect to pay more.  The wheels fell of when you have top earners paying closer to 50% of their top income in taxes, but get accused of "not paying their fair share" by people who not only don't pay, but instead receive generous gifts from the treasury.  And if you threaten to review the Earned Income Credit program, you're accused of "raising taxes on the poor" because you're threatening their gift.  It's insane. 

No one should be receiving a nickel back from the IRS that they didn't pay in.  

The really sad part is that everybody who cares to admit what is happening knows that those giant tax "refunds" are most often wasted.  A down payment on a new Kia, a set of rims, a new tv, or maybe some flashy clothes.... Nobody is setting that money aside to utilize throughout the coming year in an effort to improve their standard of living.  That's why the child tax credits from 2021/2022 were sent out in smaller increments... to space those funds out over time so people wouldn't blow it all on day 1.   So often those big "refund" recipients just head to the dealership, make a big down payment on a car that gets repossessed within six months and all they managed to do look good for a couple of months and ruin their credit.  

So  people can receive an income tax refund even if they didnt work the previous year?

[Reagan]

8 hours ago, CardinalBacker said:

It's the ironically named "Earned Income Credit" where they "refund" money to you that you never actually paid in.  It's a windfall if you earn little to no money in a tax year, the government will send you a check to make it all better.  It's based on the number of people in your household, etc.  They can (and do) reach into the tens of thousands of dollars.  The best scheme of all is when you work here as an illegal immigrant but "pay" your taxes, you can claim all of your kids back home as dependents and since they aren't American, they have no Social Security Numbers..... and their existence can't be verified.  A citizen from another country can claim as many phantom dependents as he wants with no need to prove their existence, then the fact that he has so many dependents entitles him to Earned Income Payments.  They literally take their W2s to shady tax preparers (you know, the ones with billboards) and collect thousands of dollars from the federal government.  Can you blame them?  It's the IRS that's being stupid.  

I prefer a progressive tax.  People who make more should expect to pay more.  The wheels fell of when you have top earners paying closer to 50% of their top income in taxes, but get accused of "not paying their fair share" by people who not only don't pay, but instead receive generous gifts from the treasury.  And if you threaten to review the Earned Income Credit program, you're accused of "raising taxes on the poor" because you're threatening their gift.  It's insane. 

No one should be receiving a nickel back from the IRS that they didn't pay in.  

The really sad part is that everybody who cares to admit what is happening knows that those giant tax "refunds" are most often wasted.  A down payment on a new Kia, a set of rims, a new tv, or maybe some flashy clothes.... Nobody is setting that money aside to utilize throughout the coming year in an effort to improve their standard of living.  That's why the child tax credits from 2021/2022 were sent out in smaller increments... to space those funds out over time so people wouldn't blow it all on day 1.   So often those big "refund" recipients just head to the dealership, make a big down payment on a car that gets repossessed within six months and all they managed to do look good for a couple of months and ruin their credit.  

Quick point:  Even with a flat tax, say 10%, the more you make the more you pay.  This can be done without the tax rate being progressive.  

[Reagan]

3 hours ago, Big girl said:

So  people can receive an income tax refund even if they didnt work the previous year?

I'm curious:  If a lady that doesn't work and has 8 kids, i'm sure she gets welfare.  Now, can she some how claim the Earned Income Tax Credit and and get money back from the IRS?  These are interesting questions.  

I do know that if a lady that does work and, say, has 4 kids and has some income tax withheld, she could eventually get 8 - 9 thousand dollars back from the IRS.  Now, to me, what's fair, is that No One should get back more than they paid in.  But, sadly, that's not the case.