Stupid Tax Tricks - Page 4

**AustinChief** · 06-08-2001, 10:00 AM

I just read this article... and it is EXACTLY what I was afraid of...
I think a simple five tier progressive tax with NO exemptions or loopholes is what we need to look at for the future... The Tax Code has become a joke... and G.W. and BOTH parties in the Senate are certainly not helping things...

[url]http://www.time.com/time/magazine/article/0,9171,1101010611-128937,00.html[/url]

--Kyle
~disgusted

**sd4chiefs** · 06-08-2001, 06:57 PM

How about this idea? Get rid of the income tax and replace it with a national sales tax. Say 10 to 15 percent? Everyone at the IRS would be out of a job. Companys would not have to keep track of the income tax. We would not have to pay someone to do our taxes. Also, people who make a lot of money spend a lot of money so they would be paying most of the taxes.

sun · 06-08-2001, 10:14 PM

FOR ANYONE WHO DOESNT LIKE THIS TAX CUT:

DONT CASH YOURE UPCOMING REBATE CHECK, that's right, just tear it up and throw it away........better yet, mail it back to your favorite democratic congressperson and tell them that you want to do your part so the country wont spiral down the tubes, because you certainly dont deserve to have more of your own money under your own personal control.......

Logical · 06-08-2001, 11:10 PM

Folks,

A little bit of information, there will never be a tax change that eliminates the home mortgage interest deduction. It would first be met by the most massive resistance one can imagine, homeowners in every single tax bracket, every lending institution in the country, every building contractor in the country, and you can go on and on from there.

Second it would cause a monstrous devaluation of real estate, because without the deductions people would not put themselves into this kind of debt. The phenomen of buyers moving up would dry up. In short the repeal of the mortgage interest deduction would bring on a full scale depression (not a recession but a true depression.

So the destruction of the tax code to a true flat tax or even a multi-rate simplified tax system is dead before it is ever proposed.

And folks that is a good thing.

gh4chiefs · 06-09-2001, 07:17 AM

Clint,

In response to post #44. For the record, the Clinton tax increase, including the additional gas tax, was passed in 1993. Both houses were controlled by Democratic majorities at that time. The GOP did not take control of Congress until January of 1995, following the fall election of 94.

The tax increase was his idea and Congress passed it. It passed the House without a single GOP vote.

I agree with some of things you're saying Clint, like they need to immediately repeal the gas tax. But let's at least be honest about how we got it in the first place.

And I agree that this tax cut is more of joke than anything. But again let's be honest about who it was that fought this tooth and nail and didn't want us to get any tax cut. We all know who was on TV crying and moaning and bitching about how this was "too big of a tax cut." And it wasn't the GOP.

06-08-2001, 10:00 AM
AustinChief Administrator Join Date: Aug 2000 Location: Austin Casino cash: $2179112	Stupid Tax Tricks I just read this article... and it is EXACTLY what I was afraid of... I think a simple five tier progressive tax with NO exemptions or loopholes is what we need to look at for the future... The Tax Code has become a joke... and G.W. and BOTH parties in the Senate are certainly not helping things... [url]http://www.time.com/time/magazine/article/0,9171,1101010611-128937,00.html[/url] --Kyle ~disgusted
Posts: 19,601

06-08-2001, 06:57 PM	#46
sd4chiefs error 404 Join Date: Aug 2000 Location: Bizarro World Casino cash: $8800445	How about this idea? Get rid of the income tax and replace it with a national sales tax. Say 10 to 15 percent? Everyone at the IRS would be out of a job. Companys would not have to keep track of the income tax. We would not have to pay someone to do our taxes. Also, people who make a lot of money spend a lot of money so they would be paying most of the taxes.
Posts: 3,985

06-08-2001, 10:14 PM	#47
sun Tacklen' Fuel Join Date: Aug 2000 Location: Farmington, Mo. Casino cash: $10004900	FOR ANYONE WHO DOESNT LIKE THIS TAX CUT: DONT CASH YOURE UPCOMING REBATE CHECK, that's right, just tear it up and throw it away........better yet, mail it back to your favorite democratic congressperson and tell them that you want to do your part so the country wont spiral down the tubes, because you certainly dont deserve to have more of your own money under your own personal control....... __________________ "they'll turn us all into beggars cause they're easier to please, i aint gonna eat no government cheese"......the Rainmakers
Posts: 388

06-08-2001, 11:10 PM	#48
Logical Screw U if U can't take a joke Join Date: Aug 2000 Casino cash: $10004900	Folks, A little bit of information, there will never be a tax change that eliminates the home mortgage interest deduction. It would first be met by the most massive resistance one can imagine, homeowners in every single tax bracket, every lending institution in the country, every building contractor in the country, and you can go on and on from there. Second it would cause a monstrous devaluation of real estate, because without the deductions people would not put themselves into this kind of debt. The phenomen of buyers moving up would dry up. In short the repeal of the mortgage interest deduction would bring on a full scale depression (not a recession but a true depression. So the destruction of the tax code to a true flat tax or even a multi-rate simplified tax system is dead before it is ever proposed. And folks that is a good thing.
Posts: 31,579

06-09-2001, 07:17 AM	#49
gh4chiefs Regular Join Date: Aug 2000 Location: Jefferson City, MO Casino cash: $2013592	Clint, In response to post #44. For the record, the Clinton tax increase, including the additional gas tax, was passed in 1993. Both houses were controlled by Democratic majorities at that time. The GOP did not take control of Congress until January of 1995, following the fall election of 94. The tax increase was his idea and Congress passed it. It passed the House without a single GOP vote. I agree with some of things you're saying Clint, like they need to immediately repeal the gas tax. But let's at least be honest about how we got it in the first place. And I agree that this tax cut is more of joke than anything. But again let's be honest about who it was that fought this tooth and nail and didn't want us to get any tax cut. We all know who was on TV crying and moaning and bitching about how this was "too big of a tax cut." And it wasn't the GOP. __________________ Gary
Posts: 1,486