Tax deal
Comments
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Income is income. If you sell stock, land, holdings or anything else for more than you paid for it that's income.2001400ex said:
You forget one concept. Determination of income, which the 15% doesn't help.Mosster47 said:You could get rid of property, death, capital gains, and everything else if you just did a 15% flat tax of all personal income regardless of method.
You would get rid of all the hiding and complicated maneuvering. -
Let's say you own a small business, say party light candles. Can you deduct your car? Cell phone? Medical insurance? Business use of your home? What is timing of inventory? When do you write off capital assets, like say a laptop? If you buy a tractor?Mosster47 said:
Income is income. If you sell stock, land, holdings or anything else for more than you paid for it that's income.2001400ex said:
You forget one concept. Determination of income, which the 15% doesn't help.Mosster47 said:You could get rid of property, death, capital gains, and everything else if you just did a 15% flat tax of all personal income regardless of method.
You would get rid of all the hiding and complicated maneuvering.
Like I said, the vast majority of the tax code is determination of income and the tax "reform" doesn't touch one bit of it. -
As long as I'm paying less than the half blood prince was stealing I'm good!2001400ex said:
Let's say you own a small business, say party light candles. Can you deduct your car? Cell phone? Medical insurance? Business use of your home? What is timing of inventory? When do you write off capital assets, like say a laptop? If you buy a tractor?Mosster47 said:
Income is income. If you sell stock, land, holdings or anything else for more than you paid for it that's income.2001400ex said:
You forget one concept. Determination of income, which the 15% doesn't help.Mosster47 said:You could get rid of property, death, capital gains, and everything else if you just did a 15% flat tax of all personal income regardless of method.
You would get rid of all the hiding and complicated maneuvering.
Like I said, the vast majority of the tax code is determination of income and the tax "reform" doesn't touch one bit of it.
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One wonders how many tax threads by hondo are really enuff?
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US government spending is around 35% of GDP. Not sure how we get there taxing 15%...
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Burn the whole shit to the ground. Flat tax and a VAT on everything else. Consumption/luxury oriented and move the fuck on.
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It's really simple, you stop spending 35%.AZDuck said:US government spending is around 35% of GDP. Not sure how we get there taxing 15%...
We have 50 states that all have a government structure, with counties that all have a government structure with cities that all have a government structure. They all have their own National Guards, etc.
Our federal government is into way too much shit. -
You just answered your own question. Business expenses are business expenses, just like now. Whatever you bring in that equals more than you spend you pay taxes on. Sound familiar?2001400ex said:
Let's say you own a small business, say party light candles. Can you deduct your car? Cell phone? Medical insurance? Business use of your home? What is timing of inventory? When do you write off capital assets, like say a laptop? If you buy a tractor?Mosster47 said:
Income is income. If you sell stock, land, holdings or anything else for more than you paid for it that's income.2001400ex said:
You forget one concept. Determination of income, which the 15% doesn't help.Mosster47 said:You could get rid of property, death, capital gains, and everything else if you just did a 15% flat tax of all personal income regardless of method.
You would get rid of all the hiding and complicated maneuvering.
Like I said, the vast majority of the tax code is determination of income and the tax "reform" doesn't touch one bit of it.
Whatever that number is you owe 15% to the government. -
That's all true except the "it's really simple" part.Mosster47 said:
It's really simple, you stop spending 35%.AZDuck said:US government spending is around 35% of GDP. Not sure how we get there taxing 15%...
We have 50 states that all have a government structure, with counties that all have a government structure with cities that all have a government structure. They all have their own National Guards, etc.
Our federal government is into way too much shit.
Some states would be just fine, or better off going it fiscally alone. Some would starve and see their homeless population multiply 100 fold. Guess which ones?
