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| Re: LIC Yuppies get steamed (805316) | |||
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Re: LIC Yuppies get steamed |
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Posted by Broadway Lion on Mon Jul 6 08:07:45 2009, in response to Re: LIC Yuppies get steamed, posted by BMTLines on Sun Jul 5 23:24:01 2009. LION is a long time proponent of a three-tier flat tax system.Under $100,000 = 10% tax $100.001 to #1,000,000 = 15% tax Over $1,000,001 = 20% tax (Or whatever percentages are required to fund government. My numbers are explanatory and fungible.) Then: EVERYBODY uses the short form. All tax deductions are eliminated (except, of course for personal tax exemptions). Deductions and credits are a source of fraud and loopholes, and need to be closed. BUSINESS taxes should be 1% or less OF GROSS. First they are a hidden tax on consumers, since they are always passed along. Second they are a fraud: Income taxes in business are currently based on profit after expenses. And who decides what THAT is. The business, of course. Third, in the business world, it is the STOCKHOLDER who is the ultimate owner of the business, and all real profits should accrue to the stockholder WHO DOES PAY INCOME TAX ON THOSE PROFITS. Thus ROARS the LION. ROAR |
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