Read Amendment 16 it is the Root Cause of all Our tax problems. Basically it allows government to define what income is and tax based on that definition in any form or fashion. Amendment 16 must be Repealed for any real taxation change to be effective or lasting.
Using that logic slavery would still exist in America today.
Ending government taxation of citizens must be accomplished at the federal level, there is no life, liberty or pursuit of happiness when burdened with taxes that endanger your ability to have a home and eat.
Please communicate the following to Mr. President Trump.
No Taxes, No Tariffs.
Phase 1: 25% income tax for 10 years as a transition: only after a $1,000,000 net income deductible for individuals, after a $5,000,000 net income deductible for corporations.
No tariffs instead we ban trade with Asia, ME, and Africa to protect our companiesā profits, product and service quality and competitiveness.
No tax shelters and money earned in the US must stay in the US unless you have dual citizenship.
Phase 2 (after 10 years of phase 1) : no income tax, tax income to be replaced by government owned new industriesā net income.
Phase 3 eliminate all taxes except sales tax. Sales tax should be 10%, of course, funding the counties.
As for property taxes they should be illegal, why do you have to pay the government rent for your own property?
I am 63 years old, I have owned apartment buildings, Iāve owned a business, I have paid and paid and paid and paid and tax after tax after tax my whole life I think the president Donald J Trump should completely eliminate Social Security tax over 65, eliminates capital gains tax on stock and real estate gains after 65, eliminate paying property tax over 65, the only thing that I think would be fair to continue to pay would be state sales tax over 65!
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> government owned new industriesā net income
Having the government fund itself by assuming direct control of a lucrative industry wonāt work long-term. The problem is that the people hired to run the industry, having no ownership stake in the capital value of its assets, will prioritize immediate gains at the cost of future value. Because the government-held assets will not be for sale, their capital value wonāt even be knowable. With incentives in place to maximize immediate gains, and no good way to measure the damage done by short-sighted policy, such a scheme would be a race to the bottom.
Please elaborate if Iāve misunderstood your suggestion; Iām open to being proven wrong.
Hello, No taxes at all is the goal. Electric companies and Utility companies are working at a profit and they are state owned. We can have government owned businesses and they can support the government and economy. But first we have to ween the government from taxation.
First phase would be a 10 year phase where we would save the middle class and upper middle class people. Providing a $1M net income (after expenses) deductible before taxation at 25%. Businesses would have $5M net income (after expenses) deductible before 25% taxation.
Eventually as industries and businesses are developed within that 10 year period we can ween the government away from taxation.
I think this may also apply as a solution in a broader senseā¦
I agree 100%
I agree, we have worked hard and now need to be able to enjoy what we saved.
I agree with everything but the numberā¦there is nothing magical about 65ā¦someone pulled it out of their ātrunkā a long time ago and it stuck. My two cents.
The problem with an across the board āIf youāre over 65 you never have to pay taxes againā is that it overlooks the existence of people like George Soros and Bernie Sanders who now get to go around doing all the lousy stuff they were doing before but not get an extra tool to do so while most the people theyāre making miserable are still paying taxes simply because theyāre young.
The age should be 62 years! WHY??? Because that is the youngest you can be to be on SSI now.
Such things should logically NOT be taxed! It is STUPID, I man they pay you NDED money to take back some?
IT IS A LIE that SSI is an āUNFUNDED liabilityā. IT IS FUNDED BY THE WORKERS IT IS SUPPOSED TO BE FOR!
What is UNFUNDED is the idea that OTHERS should get money not put into the system!
A guy once came up with a GREAT idea for an investment, and he offered it to the public, much like SSI. Over tie, he realized that people would let the money ride, and h reimbursed people even before being sure he had the money. H took a lot of liberties, and the market became less steady.
Eventually, the act was declard ILLEGAL by th US government. Mr. charles ponzi, creator of the āPonzi Schemeā could no longer legally do what he did, but the us government does it ALL THE TIME, and yet BILKS tax payers!
Absolutely!! Stop giving money to foreign countries and take care of our citizens by letting them truly retire.
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I totally agree. But also add in pensions and distributions from investments. Right now I am a 76 year old widow and I am being taxed as a single woman with minimum deductions and know way to earn extra money. Most of my income is going to local, state and federal income taxes. The book the Great Land Grab is correct. They want to take away from the elderly their residences, and lively hoods through taxation which increases yearly.
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All they have to do is change to a sales tax. If you want to buy a $500 boat you pay taxes on the $500, if you want to buy a million dollar boat you pay taxes on the million dollars. You get to choose how much you want to pay and billionaires pay their fair share. SALES TAX NOT INCOME TAX no exemptions, no tax returns. ALL EXCEPT FOOD- food should be free from ANY tax.
I think a end on property tax for their main home and for those who qualify and are able to receive social security. This should also include health care. ELIMINATE all the āpartsā and all the supplemental part. It has become so complication and NOT cost effective. You have been maid to paid into the system all your life. State pension that do not contribute there should be another āsimpleā health care plan. For those who make over 90K then they can purchase a āsimpleā health care plan. (I just threw a number out there)
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I believe those over 62 that are no longer working AND make less than a specific amount like the average medium income for the USA, and retired military.
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