Democrat or Republican

[marbleheadmaui]

Killer I concede the current necessity for a federal income tax as a necessary evil but I would get rid of all credits, deductions, loopholes etc and have a simple progressive system based on gross earnings in the year.

1. No income tax paid
2. 0.5%
3. 1%
4. 2.5%
5. 5%
6. 10%
7. 15%
8. 20%
9. 25%

That being said my fantasy federal gov't would not require a federal income tax to fund it.

I sure don't. The income tax is immoral and economically and culturally destructive. It ought to be outlawed permanently. The much better answer is some kind of national sales tax. Why? Several reasons. First it is moral because it is voluntary. Want that $60,000 car? OK, pay the tax on it. Don't want to pay the tax? Don't buy the car. Secondly it punishes consumption not investment, the reverse of what we have today. An economy based on investment is likely to be far more dynamic and reliable than one based on consumption. Third it would really stick a pin in the "keeping up with the Jones" if we had to write a big check to the feds each time we bought a flat screen we didn't need.

Now it's not quite that easy. We must either exclude store-bought food and utilities or we must take the "fair tax" approach and everyone starts the year with a $30k check from the feds to cover the basics.

[Mars_ax]

Republican by default, I can't stand the Democratic party, and I cringe knowing that Obama is in the white house, and Hillary is his secretary of state. Not that Republicans are a hell of a lot better, it's just that much of the time us Americans have to choose between the lessor of 2 evils, that's why I say, Republican by default.