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What is fair is a flat tax

What is fair is a flat tax

Rayday | Dec 5, 2012 03:41 PM ET No, what is fair is a flat tax. No deductions and simply a percentage of your gross pay for everyone. Say either 10% or 15% of your income. Period. Now that is fair.

mark46077 | Dec 5, 2012 03:51 PM ET Andrew Hansen`s quote "They`re not at the margin between renting and buying. They`re between buying something and buying something bigger." He is missing the point. What is wrong with butying a bigger home? Someone had to build the bigger home, that means jobs. Real Estate Tax revenues go up with a more valuable home, that improves communities. And the smaller house gets bought by someone, which creates more jobs and income to the community. Mr. Hansen, do we all have all live in a two bedroom shack with no mortgage interest deduction? You don`t have to take ithe deduction so go ahead and rent all you want. Taking the deduction away just means more taxes on a specific group, and less money in the hands of that group which will negatively affect overall economic

ninthgate | Dec 5, 2012 03:54 PM ET @Rayday, How about flatter? Meaning, why not just say $20k per adult. You keep the rest. We`ll even exempt those in Active Duty service. Some folks would find that to be pretty fair. Or how about $20k per adult, but you`re allowed to opt out. If you opt out, you don`t get to vote, and you need to pay for four years contiguous years, else you don`t get to vote for any Federally elected position. I think that`s a fair, modest proposal.

Dcall1714 | Dec 5, 2012 03:55 PM ET LOL. Feinroth proposes that the effect of the homeowner mortgage interest deduction is not to assist the rental class into homeownership, but to help existing homeowners into housing that they would not be able to afford without the deduction. I wonder what his thoughts are on the FHA program? I wonder how he feels about my 4.15% fixed interest rate on a 30 year loan? 1 of the premises of his argument is that government subsidizing and my money returned to me enter the economy through a similar method, and r therefore equal on some level. I EARNED my money. Allowing me to retain more of my productivity, in order to incentivise me into homeownership - which stimulates the economy and encourages pride in the neighborhood and more - is a different universe than the fed lending out money it c

Dcall1714 | Dec 5, 2012 03:58 PM ET reates out of debt, or the treasury backing mortgages to lower the borrowing rate for sub-prime lenders. One set is inflationary and a direct link to the 08` crash. You can pick. Why don`t you fixate your aim on beaurocracies that tax or create credit through debt to stimulate any given market

Jeff7112 | Dec 5, 2012 04:13 PM ET All that the deduction does is rewards those who go into debt. END IT!!!

WxTrender | Dec 5, 2012 04:14 PM ET Another easy way to kill the housing market...if the more expensive homes lose the deduction those homes are harder to sell. If you cannot sell out of the big house to retire when the family is gone the price comes down it will flow right on down the line just like when they raised the write off on a home profit...that one little change ignited the housing runup in the first place...

drace1948 | Dec 5, 2012 04:23 PM ET @ninthgate, what are you smoking? So you are suggesting that Jamie Dimon only gets to pay $20,000, and his janitor who he pays $21,000 also gets to pay $20,000???? Oh, so he can opt out by giving up his RIGHT to vote? Sounds like a Republican plan for Corporations to continue to control the polictical process. But why not, they failed to do it with unlimited Corporate contributions, lets try something else.

ninthgate | Dec 5, 2012 04:31 PM ET @drace. "Modest Proposal". Jonathan Swift. Look it up.

tradereye | Dec 5, 2012 04:38 PM ET I would jump at a 10% tax...the lowest tax bracket is 15% PLUS 7.5% SS/medicare.......so lowest is about 23% base. Instead of capping out SS/medicare at 140K (approx)....and then there is nothing deducted...make it a lower amount up to ALL amounts of earned income. And that is for starters. We would ALL be paying a lower tax rate, but you have H**L to pay trying to convince a millionaire Repub of that fact! They like their loopholes WAY too much.






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