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Originally Posted by joshbaumgartner
FICA is one of our most regressive taxes. Barack had some interesting things to say on taxes tonight in the debate. Simplification of the tax system and elimination of the imbalances figured in prominently into his talk. This bit is from his official literature:
Some of these address the 'incentive to work' issue, and I do think that a lot of this is good stuff. Not a total fix of the system by a long shot, but some good ideas.
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Without commenting on the merits of each proposal, it seems to me that these will add hundreds of pages to the thousands of pages already in the tax code and add additional complication to tax filing. Each deduction/credit listed will probably require more tax forms to determine eligiblity etc..
It seems to me that the best way to make tax filing simpler is to eliminate deductions and loopholes not add more. Maybe something that could be printed on a postcard like (income = X then taxes = Y) with no deductions.
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Originally Posted by Ustwo
The problem with taxes is not enough people pay them. If everyone who voted had to pay at least 10% in taxes you would see a far better more responsible government. I'd also move tax day to voting day, there is a reason its on the other side of the calender.
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I think many poor and middle class people pay way more than 10% (indirectly) even if they pay little income tax because of the embedded taxes in goods and services. Probably the best way to reduce taxes for them would be to eliminate corporate taxes which are added to the cost of everything they buy.