Comments on: Happy Tax Day!

By: David Campbell

David Campbell — Mon, 09 May 2011 17:17:58 +0000

UPDATE: More evidence that taxes are at historically low levels.

By: David Campbell

David Campbell — Tue, 08 Feb 2011 18:05:38 +0000

UPDATE: According to a new analysis: taxes this year will be the lowest since 1950. And for the third straight year under President Obama, American families and businesses will pay less in federal taxes than they did under President Bush.

By: LittleDavid

LittleDavid — Mon, 22 Nov 2010 19:55:59 +0000

Emilee,

Evidently you’re still misinformed about the Tea Party.

By: Emilee Friot

Emilee Friot — Mon, 22 Nov 2010 06:22:54 +0000

I was also misinformed about the tea party movement until I found a great site that made me understand it better. I met alot of friends there and must admit I was impressed with the way they think. I assumed they were all crazy people then I found out why they are the tea party movement. It is because they worry about the United States and the constitution.

By: VB Dems » Blog Archive » Republicans against tax cuts

VB Dems » Blog Archive » Republicans against tax cuts — Thu, 21 Oct 2010 23:09:11 +0000

[...] posted on this before, but it seems to keep slipping down the memory hole. Only 1 in 10 Americans are even aware of [...]

By: Bret Huffer

Bret Huffer — Sat, 29 May 2010 19:21:54 +0000

You got to admit, there is no fast solution.

By: LittleDavid

LittleDavid — Sat, 22 May 2010 12:06:52 +0000

It would be pretty difficult to obtain a Lexus on the black market because of all the trails left. Every vehicle has a VIN (Vehicle Identification Number) so it would be pretty easy to trace back whether the fair tax had been paid.

You seem to be in favor of completely changing the Social Security System. Right now it is something like insurance. You pay in so much based upon lifetime earnings, up to a limit, and you receive benefits based upon how much you paid in.

Are you in favor of changing it into a welfare system? You have stated you would remove the cap. Would you then also remove the cap on benefits? If Bill Gates is forced to pay Social Security taxes on all of his income would he then receive a multi-million dollar check each month back out of the system once he retired? If you are only going to remove the cap on tax payments without removing the cap on benefits then you change it from an insurance system into a welfare system and I think you then threaten the broad popular support for the system as it presently exists. I myself would not object to your proposal, but I think I would only be joining with you in a minority opinion.

By: David Campbell

David Campbell — Fri, 21 May 2010 20:05:06 +0000

The Social Security tax is regressive. It taxes every dollar earned by the minimum wage worker and none of the rich man’s income in excess of $106,800.

If the “Fair Tax” tries to tax the underground economy, more of the economy will be driven underground to avoid the “Fair Tax.”

The proponents of the “Fair Tax” want to replace the income tax, not supplement it. It will not be progressive.

By: LittleDavid

LittleDavid — Fri, 21 May 2010 19:23:25 +0000

David,

The Social Security tax is supposed to be something like insurance, it is not regressive. You pay into the system based on your income and your receive a benefit in retirement based upon your past earnings.

Will you be willing to consider that the fair tax might rightfully tax the underground economy? If a further income tax was imposed only on the wealthy it could still be described as progressive.

By: David Campbell

David Campbell — Fri, 21 May 2010 18:28:33 +0000

Taxing all income at the same rate seems fair to me. Currently, income above $106,800 isn’t subject to the Social Security tax at all. That’s regressive. Eliminating the income cap wouldn’t solve all the other problems, but it would fix Social Security for the next 75 years.

According to the CBO, health reform will extend Medicare’s solvency by 10 years.

The so-called “Fair Tax” would decrease the tax burden on the poor and rich, shifting it onto the middle class. Proponents of the “Fair Tax” are not willing to compromise on retaining an income tax on wealthy individuals. The real winners would be the rich. (The drug dealer will buy his Lexus on the black market and still avoiding paying taxes.)