Brainstorm How to improve the tax code?

[SuperSpreader]

Curious to hear opinions on things that you believe might make taxation more fair. Not looking for solved ideas, just thought it would be a fun discussion.

 

Random thought: If the Electoral College means land = votes, maybe reduce taxes, by a lot, over 50%, but create a Federal Property & Asset Tax instead rather than income. Including using Stock Valuation for annual corporate taxes.

 

 

[SuperSpreader]

Ooh, what if a corporation could balance how that's paid, they can either pay monies based on their assessed value or do some sort of equity/cash mix so the gov owns a part of the companies who choose to pay less. 

[b_m_b_m_b_m]

Lvt, vat, progressive income (same rates for cap gains) and that'll do it for me

[Guest]

I’m going to have to write a check for $85k in property taxes in January, so the one that lowers that.

[Remarkableriots]

8 minutes ago, sblfilms said:

I’m going to have to write a check for $85k in property taxes in January, so the one that lowers that.

Wouldn't it raise it by a lot since you would have state and federal property taxes?

[Chairslinger]

Shake Jeff Bezos by the ankles until stuff stops falling out of his pockets.

[Spawn_of_Apathy]

31 minutes ago, SlipperySlope said:

Curious to hear opinions on things that you believe might make taxation more fair. Not looking for solved ideas, just thought it would be a fun discussion.

 

Random thought: If the Electoral College means land = votes, maybe reduce taxes, by a lot, over 50%, but create a Federal Property & Asset Tax instead rather than income. Including using Stock Valuation for annual corporate taxes.

 

 

i wonder what this would do to Apartment and residential rental businesses. In that every time property values and property taxes go up so too does rent. If this tax affects them it could price apartments beyond the means of many more Americans. 

[SuperSpreader]

7 hours ago, Spawn_of_Apathy said:

i wonder what this would do to Apartment and residential rental businesses. In that every time property values and property taxes go up so too does rent. If this tax affects them it could price apartments beyond the means of many more Americans. 

Not if there's very little income tax. They would have to manage the cost of renting v the average salary v the cost of ownership (tax). Otherwise they'd be stuck with an expensive empty building. 

 

Maybe the idea is silly. I'm just thinking of taking the burden off of income and shifting it to wealth. 

[SuperSpreader]

7 hours ago, Chairslinger said:

Shake Jeff Bezos by the ankles until stuff stops falling out of his pockets.

If you tax the value of the company and the value of his wealth you're doing that. 

[SuperSpreader]

7 hours ago, Remarkableriots said:

Wouldn't it raise it by a lot since you would have state and federal property taxes?

I mean, if he went with my brainstorming idea, but this thread doesn't have to be about that specifically.

[Firewithin]

Simple.....

 

EAT THE RICH 

[stepee]

1 hour ago, Firewithin said:

Simple.....

 

EAT THE RICH 

 

I like this idea actually.

[Joe]

9 hours ago, Chairslinger said:

Shake Jeff Bezos by the ankles until stuff stops falling out of his pockets.

 

I want a solution within the century plz.

[Kal-El814]

9 hours ago, b_m_b_m_b_m said:

Lvt, vat, progressive income (same rates for cap gains) and that'll do it for me

 

Income above, say, $400K should be taxed at 90%

[Pikachu]

What do you guys think about a progressive consumption tax like this: 

 

What is the Progressive Consumption Tax? | Progressive Consumption Tax | U.S. Senator Ben Cardin of Maryland

WWW.CARDIN.SENATE.GOV

---

The Official U.S. Senate website of Senator Ben Cardin of Maryland

 

?

[Kal-El814]

2 hours ago, Kal-El814 said:

 

Income above, say, $400K should be taxed at 90%

 

@sblfilms 'd me for this, which I assume is because I didn't bring the rate to its peak in the 40's ' 50's, 92%. I am a fair man, so I will go with what it was shortly thereafter, 91%. The absolute lowest rate I'd tolerate is where it was in the 80's, 70%.

[Commissar SFLUFAN]

I will give this some thought, but my immediate reaction is one that strenuously attempts to curtail resolutely obscene concentrations of intergenerational wealth.

[gamer.tv]

How does the system in the US compare to the UK system?

 

We pay National Insurance which covers state benefits (maternity pay, pension etc) and income tax which covers our National Healthcare Service, Education, Welfare etc. It's based on your current earnings, so increases the higher your income bracket - although everyone is guaranteed to have 12,500 as personal allowance (which isn't taxed) with the remainder looking like: 

 

Band                                         Taxable income                Tax rate
Personal Allowance           Up to £12,500                 0%
Basic rate                           £12,501 to £50,000        20%
Higher rate                         £50,001 to £150,000      40%
Additional rate                   over £150,000                 45%

 

Then for National Insurance, if you earn more than £183 a week, you pay 12% of your earnings, up to £962 per week. 

 

[b_m_b_m_b_m]

14 minutes ago, Kal-El814 said:

 

@sblfilms 'd me for this, which I assume is because I didn't bring the rate to its peak in the 40's ' 50's, 92%. I am a fair man, so I will go with what it was shortly thereafter, 91%. The absolute lowest rate I'd tolerate is where it was in the 80's, 70%.

Marx was right-- ones material conditions determines how one upvotes

[Guest]

14 minutes ago, Kal-El814 said:

 

@sblfilms 'd me for this, which I assume is because I didn't bring the rate to its peak in the 40's ' 50's, 92%. I am a fair man, so I will go with what it was shortly thereafter, 91%. The absolute lowest rate I'd tolerate is where it was in the 80's, 70%.

If we use the same income level inflation adjusted, I’ll agree to it.

[Dodger]

Sbl just mad because he has to worry about “tax the rich” plans.

 

I think flat taxers at least have the right idea in mind, they just set the rate too low. A lot of the problems are tax avoidance. Set a tax rate, everyone pays it, and then you can redistribute as necessary. 
 

 

[Massdriver]

Land Value Tax
Progressive consumption tax
Estate Tax (20 million exempt then 90%) coupled with unrealized capital gains taxed upon death at that estate size 
Carbon Tax

Alcohol Tax

Gas/Milage Tax

[Commodore D]

9, 9, 9.

[Commodore D]

Seriously though, is the SECURE Act not enough for you people? MAN!

[Remarkableriots]

80% tax on computer parts

@Mr.Vic20

 

 

 

 

 

Spoiler

 

[Anathema-]

Seize total control of businesses vital to national security such as all energy, transportation, and communication companies. Use the profits to fund social goods. 

[CayceG]

35 minutes ago, Anathema- said:

Seize total control of businesses vital to national security such as all energy, transportation, and communication companies. Use the profits to fund social goods. 

 

 

God yes