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toldailytopic: It's tax time! What are your thoughts about the US income tax system a

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  • #31
    Originally posted by chrysostom View Post
    is that a serious question
    or
    are you trying to be funny?
    Did you mean pay for schools and parks by using the sales tax revenue?

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    • #32
      Originally posted by Knight View Post
      What do you think would be a good solution to fix the tax system we have in the USA?

      - Reform the current system
      - Move to a national sales tax
      - Move to a flat tax
      - Other (please explain)
      I like the idea of a flat tax system, a straight percentage off of the bottom line income. The national sales tax or consumption tax also seems rather intriguing, this sort of taxation will hit the underground economy as well. Even illegal immigrants need to buy goods and services, so do other criminal elements and consumption tax would capture them all. I think we would see more bartering for services in this scenario to avoid taxation. In either case we need taxation that is fair across the board with no loopholes for anyone.
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      • #33
        Personally, I am content with the current system. Over the years I have grown accustomed to tracking expenses, taxes, and income, such that my annual visit to my accountant is relatively painless. I have a spreadsheet I have developed for all these things and transferring information from Quicken (or the equivalent) and my paper records takes me a few hours, then I am all set with my visit. Everything is filed electronically and refunds or payments owed occur within a day or so. I have a relatively complex tax situation, with several businesses owned and tax time, while a temporary chore, generally works out well for me each year.

        The key is good record-keeping. Even if you throw everything into a box throughout the year and reconcile/categorize one's bank statements monthly in another tool, e.g., Quicken, which I do, going through said box is a couple of hours work.

        Another tip for business owners is to use one credit card for all that businesses expenses. That way at the end of the year you can download the card's annual statement with categories assigned and transfer that information to your records.

        AMR
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        • #34
          Well, I just finished filling mine out, and I have to conclude they're more confusing than ever.

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          • #35
            Originally posted by rocketman View Post
            . The national sales tax or consumption tax also seems rather intriguing, this sort of taxation will hit the underground economy as well. Even illegal immigrants need to buy goods and services, so do other criminal elements and consumption tax would capture them all. I think we would see more bartering for services in this scenario to avoid taxation. In either case we need taxation that is fair across the board with no loopholes for anyone.
            this is the best argument yet
            a voice crying in the wilderness :chrysost:

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            • #36
              The good news is we're getting a very hefty return this year. But then again, it was our money in the first place.




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              • #37
                National sales tax steals from the poor. And the idea of having poor folks apply for a credit is bogus, the least and the lost won't apply for any credits.

                Graduated tax, no deductions, period.

                A nation is judged based on how well it takes care of its widows and orphans, that message is everywhere in the OT, and caring for the least and the lost was Christ's number one priority if anyone cares to actually read the gospels. When we feed and clothe and visit the poor, we are feeding, clothing, and visiting God Himself.

                This nation is doomed, and not because of Obama, but because of the greedy self centered right wing who sell lies in order to fill their coffers.
                1 John 4:7-8 "Beloved, let us love one another, because love is from God; everyone who loves is born of God and knows God. Whoever does not love does not know God, for God is love."

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