Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 10-14-2007, 07:30 PM   #21
Recycles dryer sheets
Join Date: Jun 2007
Posts: 316
Originally Posted by kjpliny View Post
Flat tax? I say abolish the IRS and save some money!
Where I live, the lower income marginal rate is 25.5%, and the big earners pay 39%. So would the rich pay less, or would the poor pay more, or would it be a bit of both. I admit, a flat tax on wages is probably how things should be done, but no matter where you set the rate, you'd have a political firestorm on your hands.

As far as different investments receiving different tax treatments, I believe that those who are willing to risk their money by investing in those things that are currently taxed as capital gains generally boost the overall economy of the nation more than those who squirrel away money in savings accounts. I'm not sure how it would play out, but the act of taxing both at the same rate would definitely make for some interesting times on Wall Street.

Grizz is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
TY 2008 Tax Rates BOBOT FIRE and Money 6 07-11-2007 06:30 PM
Tax rates after FIRE aenlighten FIRE and Money 0 04-28-2007 01:36 PM
Medicare payroll tax rates. Lakewood90712 FIRE and Money 3 01-03-2007 06:42 AM
Tax Rates now and 2011 Gearhead Jim FIRE and Money 25 12-10-2006 08:07 AM
Pinging Martha - Minn Estate Tax Rates...... Cut-Throat FIRE and Money 2 08-16-2006 07:58 PM


All times are GMT -6. The time now is 08:50 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.