[BipiewExifese]

Die in a fire.

[teridbruse]

You can die in a fire too.

[TheReallyBest]

we should eliminate the ... tax preferences for 401(k)s and IRAs.


Why would you want to do that? Americans need to be saving more, not less.

[55TRATTERENRY]

There needs to be a flat tax.

No.

There is nothing wrong with a progressive tax system; the problem lies in all the complicated deductions and alternative minimum this and credit that, etc. etc. etc.

Make your taxes your taxes, and be done with it.

I do seem to recall the VAT being spelled out on every receipt I received in Canada, but I haven't been in Stratford for a couple years, so I could be misremembering.

[StitsVobsaith]

we should eliminate the ... tax preferences for 401(k)s and IRAs.

Why would you want to do that? Americans need to be saving more, not less. Inasmuch as possible, I think it would be a benefit to savings if savings and consumption were put on an equal footing. Likewise, I don't think one goal of savings such as retirement should be advantaged over another goal such as paying for your kids' education.

That said, I don't think we know what a good savings rate is. Certainly we don't know enough to target a savings rate.

[SkapySisy]

Incidentally, I also think 529 plans should be eliminated. Why are you OK with the government being so involved in your spending and savings decisions?

[ChuttyAmult]

It would be great if these changes were part of a larger package. You're too sanguine about the possibility of a real overhaul. I just don't think that it's not doable politically.

[Pharmadryg]

No.

There is nothing wrong with a progressive tax system; the problem lies in all the complicated deductions and alternative minimum this and credit that, etc. etc. etc.

Make your taxes your taxes, and be done with it.

That's a flat tax, using more words.

[indianstory]

The internet is responsible for a considerable loss of revenue for states. Some states try to recover the sales tax but enforcement and loopholes make it difficult. The original purpose was to encourage the internet. I really don't think that's a valid issue anymore. I think the internet is doing just fine. A national sales tax for internet sales would make a lot of sense. Instead of having to deal with 50 different set's of rates and rules, one set would be much easier to implement and administer. And at least for now, based on the demographics of people that shop on line, it would impact poor people less.
And most importantly, I think it would be more politically acceptable.

[WXQMQFIr]

we should eliminate the ... tax preferences for 401(k)s and IRAs.

Why would you want to do that? Americans need to be saving more, not less. Consider taxes national savings.

[wmhardware]

I thought we wanted Americans spending like idiots to keep our consumer-based economy afloat.

[vvxtiopmx]

Good ideas.

Good Grief

I say we do the exact opposite, and reduce corporate income taxes... we need to supply care not cash. We think the government spend unwisely, how many "poverish" ppl do you know with big screen TVs?

[stastony]

we need to supply care not cash. We think the government spend unwisely, how many "poverish" ppl do you know with big screen TVs?

What does this mean?

[ImmitsRom]

It would be a good start.

Reduce corporate taxes.

Reduce income taxes.

Cut government spending.

Put a freeze on future spending.

Wait ten years and you'll be back on track again.

A modest national sales tax wouldn't be a bad idea It would be a disaster for the USA. One of the few business advantages is that you don't have one. It's a huge job killer.

The flat tax is a much better idea. Rather then having a sales tax, just make it so that everyone pays the same amount as a percentage of their income. It's still progressive, because people who make more pay more.

[DEMassteers]

Why am I wrong?

Isn't a tax progressive when rich people pay more than poor people?

[Pippoles]

I see nothing that says it is limited only to percentages.

[bestonline]

Commies love twisting words. The flat tax is progressive and fair.

[MontyP@thon]

I think reducing corporate taxes would be of great benefit to the US. We have among the highest corporate tax rates -- or perhaps the highest -- in the world, which pushes economic activity overseas.

Corporate income taxes aren't very stable, so the utility of the tax within a cyclical economy is suspect.

These days, the competitive stature of the United States isn't often challenged by low labor rates. Rather, it's the corporate investment incentives in other countries that makes companies move their operations overseas. If you care about manufacturing in the United States, you should be for a reduction of corporate taxes.

[12Cickprior]

What Does Regressive Tax Mean?
A tax that takes a larger percentage from low-income people than from high-income people. A regressive tax is generally a tax that is applied uniformly. This means that it hits lower-income individuals harder.
Investopedia explains Regressive Tax
Some examples include gas tax and cigarette tax. For example, if a person has $10 of income and must pay $1 of tax on a package of cigarettes, this represents 10% of the person's income. However, if the person has $20 of income, this $1 tax only represents 5% of that person's income.

Sales taxes that apply to essentials are generally considered to be regressive as well because expenses for food, clothing and shelter tend to make up a higher percentage of a lower income consumer's overall budget. In this case, even though the tax may be uniform (such as 7% sales tax), lower income consumers are more affected by it because they are less able to afford it.

[Crazykz]

Consider taxes national savings.


Why would I do something stupid like that? Given that the vast majority of federal spending goes to the military and transfer payments to seniors, only a tard would see increasing tax revenues flowing to the federal government as an efficient way to boost national savings (and therefore investment).

Good ideas.


Kiddy's agreeing with you now, Dan. Don't you think it's time to reevaluate your position?