Bhairitu, Don't speak too loudly about the 2008 incident. An economic collapse may still come back and haunt us if the multi-trillion national debt is not reduced. Murphy's Law may apply: if anything can go wrong, it will go wrong.
---In FairfieldLife@yahoogroups.com, <noozguru@...> wrote : I like progressive taxes because they discourage money hoarding. Done properly we would not have the huge gap we have today between the richest and the poorest. And look how elitist are those with too much money. Incentives are good but maybe cap the rich at 20 times of the wealth of the poorest. Flat taxes appeal to people because it gets rid of the joke which are the IRS codes. It means simplification. You could also have a progressive flat tax too as there could be levels of taxation. Do we really need a "landed gentry?" The real problem with the US is the standard of living is too high and was created by allowing too much debt especially among the public. The last time the economy was real was in the mid 1970s. But a total economic collapse might solve that. It should have happened in 2008 when it would have damaged the public less than the rich. On 06/19/2015 09:22 AM, Michael Jackson mjackson74@... mailto:mjackson74@... [FairfieldLife] wrote: So what do you think of the flat tax proposal Bhai? From: "Bhairitu noozguru@... mailto:noozguru@... [FairfieldLife]" <FairfieldLife@yahoogroups.com> mailto:FairfieldLife@yahoogroups.com To: FairfieldLife@yahoogroups.com mailto:FairfieldLife@yahoogroups.com Sent: Friday, June 19, 2015 12:10 PM Subject: Re: [FairfieldLife] Rand Paul's Tax Proposal That 14.5% figure is interesting because Donald Trump the last time he ran for President proposed a one-time 14.5% tax on all folks with an estate of $10M or more. He thought that would help reduce the deficit. Hence he was not to popular with Republicans. Flat taxes have often been proposed because our current tax system has been corrupted by special interests. It is no long a fair system nor can it even be interpreted properly even by IRS agents. The $50,000 exclusion for a family of four would help the proposal gain more traction as 14.5% for anyone with that low of income is quite a chunk. Paul is more a populist than a Republican or even Libertarian. Same can be said for Bernie Sanders who is showing great popularity with the millennials. It will be interesting to see what Sanders comes up with for a tax proposal as I'm sure too he feels the IRS codes corrupt. On 06/19/2015 01:03 AM, jr_esq@... mailto:jr_esq@... [FairfieldLife] wrote: It appears that there's a hidden agenda behind his proposal. The sugar coating is that taxes are reduced for everybody. But the hammer is that the government expenses will have to be reduced to fit the new tax income received. What do you think? Presidentialcandidate Rand Paul plans to 'blow up' tax code http://news.yahoo.com/presidential-candidate-rand-paul-plans-blow-tax-code-205639493--election.html?soc_src=mail&soc_trk=ma Presidentialcandidate Rand Paul plans to 'blow up&#... WASHINGTON (AP) — Republican presidential candidate Rand Paul called Thursday for a "fair and flat tax" that would "blow up" the nation's ta... View on news.yahoo.com Preview by Yahoo
