Deficit reduction proposals

Gee, ain't they lucky. Until the last baby's illnesses, they were winners in the genetic game of life. Not everyone is so lucky.

And besides, what if someone loses their job and can't pay the taxes. Will their kids get taken away?

 

My hope with the "flat tax" is that the luxury taxes would off-set it. Everybody pays the same (percentage) but those who can afford it, pay quite a bit in additional taxes if they want certains cars, boats, jewelry etc...

Part of the problem now is people find loopholes that keep them from paying much taxes. With the flat tax where there are no exceptions, you eliminate that.

 

Not to mention, if they're wealthy enough, they could pay in cash, and the seller can reduce the price accordingly to avoid the taxes.

 

The biggest problem is not the percentage that people are supposed to be paying, it's the loopholes. The rich, typically find the loopholes and the poor do not. Get rid of the loopholes and you're going to see a lot more revenue coming in, even if the percentage that they have to pay in is a fixed and flat rate.

As far as the luxury tax is concerned, you should tie in taxes with buying products made in this country. Since I know it's not as clear as some think about which car companies are actually American, it should be like this. If you have manufacturing plants in the US, the taxes on your car will be lower than the ones who don't.

That can mean a lot of jobs as well.

 

And Europe, China and Japan will scream protectionism even though their markets are far from open.

 

Good. Fuck them.

 

I'd say that myself, but the public wants cheap consumer goods and good-paying jobs to afford them.

You would think enough Tea Partiers and liberal Democrats in the house could get together and eliminate tax loopholes for overseas corporations.