WHo hasnt done there taxes yet?

[Blackgeetee]

What do you guys think of a flat percentage tax? Like a fixed % of say I don't know, 20%? Then eliminate doing annual taxes etc. I know there are pros and cons to this and it has been brought up during election time. I don't understand why it wouldn't work. What are some of the cons?

 

[Big Vito]

if you shoot someone in cold blood that is a con

Originally posted by Blackgeetee
What do you guys think of a flat percentage tax? Like a fixed % of say I don't know, 20%? Then eliminate doing annual taxes etc. I know there are pros and cons to this and it has been brought up during election time. I don't understand why it wouldn't work. What are some of the cons?

 

[Big Daddy]

Well my taxes are completed and my total amount paid for Federal Taxes not SS and Medicare is $25,000!!! That just seems wrong! :cuss: :cuss: :fm: :fm: :mj:

 

[FordSVTFan]

Originally posted by Blackgeetee
What do you guys think of a flat percentage tax? Like a fixed % of say I don't know, 20%? Then eliminate doing annual taxes etc. I know there are pros and cons to this and it has been brought up during election time. I don't understand why it wouldn't work. What are some of the cons?

The most equitable is the GST! Goverment Sales Tax. Simple if you buy a taxable item you additionally pay a set government sales tax. So if you choose to save your cash and invest it multiplies faster and then when you spend it you get taxed at the same rate as everyone else. Plus we catch the entire underground economy of drug dealers and those working off the books, etc.

Joel a flat tax would work. And it would put the IRS almost out of business but that still doesnt catch those operating cash businesses or illegal businesses and we miss taxing the underground economy.

If we were simply able to tax the underground economy we could fully fund medicare with full prescription benefits and social security would be completely solvent. Imagine that.

 

[Big Daddy]

Originally posted by FordSVTFan
The most equitable is the GST! Goverment Sales Tax. Simple if you buy a taxable item you additionally pay a set government sales tax. So if you choose to save your cash and invest it multiplies faster and then when you spend it you get taxed at the same rate as everyone else. Plus we catch the entire underground economy of drug dealers and those working off the books, etc.

Joel a flat tax would work. And it would put the IRS almost out of business but that still doesnt catch those operating cash businesses or illegal businesses and we miss taxing the underground economy.

If we were simply able to tax the underground economy we could fully fund medicare with full prescription benefits and social security would be completely solvent. Imagine that.

I've heard that proposed before (GST) and I think it is the best idea for equitable taxation I've ever seen proposed!

BTW...I'm a CPA who no longer does other peoples taxes!! ;-)

 

[Big Vito]

ok so lets have any pros and cons on GST
an in depth discussion should be had

 

[FordSVTFan]

I ve already listed the majority of the pros. There arent many cons as long as you arent a politician.

 

[lilblond75]

Originally posted by FordSVTFan
Good you shouldnt be!

On the other hand, I am

So why be p!@#$ off at us for it why not the goverment?
I know that money helps me out. But just cause i get more back don't me one of those welfare people!!!

 

[jacob67]

just got everything in today.

don't have any high hopes, i always have to pay in.

really sucks because i claim zero and with hold at higher single rate, even though i am married.

the irs just walks all over me!

 

[xlr8tor]

Haven't got my mortgage interest statement, or my w2's yet

 

[FordSVTFan]

Originally posted by lilblond75
So why be p!@#$ off at us for it why not the goverment?
I know that money helps me out. But just cause i get more back don't me one of those welfare people!!!

No one ever said it made you a welfare person! It makes you someone that qualifies for the unearned income credit. I am not happy with the governments decision on taxes at all.:cryying:

 

[jacob67]

have every thing i need to do my taxes!

I hope to get them done by the 15th of April!

 

[ssssnake]

Did mine, gotta pay. That means that aren't getting my tax return until April 15th. AAAARRRGHHH!!!

 

[lilblond75]

I got my taxes done!!!
Now i have to wait to get them back!!!