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Tax hikes - Yay or Nay?

Started by merithyn, October 23, 2013, 11:28:25 AM

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Would you be in favor of a federal tax hike in the US to help cover the debt?

American - Yes, we need to pay those bills
American - No way, no how
American - Only if the graduated cuts remain in place/more cuts are made
American - Other option. Please to esplain.
ROTW - Raise taxes, dumbass
ROTW - Don't do it! It's a trap!
ROTW - What do I care? I live in a Utopian socialist society already.
ROTW - Other option. Please to esplain.

merithyn

In general, I think the across-the-board cuts that are going on are a good thing. However, I also think that taxes need to be raised, as well, probably to the 1960s levels. I didn't break it down regarding economic levels because I'm assuming a graduated tax increase.

What say you, Languish?
Yesterday, upon the stair,
I met a man who wasn't there
He wasn't there again today
I wish, I wish he'd go away...

CountDeMoney


Grey Fox

Of course, your taxes are too low. But which one?

What you really need is a Product & Service Tax of 5-8%
Colonel Caliga is Awesome.

merithyn

Quote from: Grey Fox on October 23, 2013, 11:30:51 AM
Of course, your taxes are too low. But which one?

What you really need is a Product & Service Tax of 5-8%

I'd be okay with taxes being on par with how they were in the 1960s, plus adding a VAT. I've long thought we've been stupid not to have that.
Yesterday, upon the stair,
I met a man who wasn't there
He wasn't there again today
I wish, I wish he'd go away...

Grey Fox

Quote from: merithyn on October 23, 2013, 11:36:12 AM
Quote from: Grey Fox on October 23, 2013, 11:30:51 AM
Of course, your taxes are too low. But which one?

What you really need is a Product & Service Tax of 5-8%

I'd be okay with taxes being on par with how they were in the 1960s, plus adding a VAT. I've long thought we've been stupid not to have that.

How different are they now from the '60s?
Colonel Caliga is Awesome.

merithyn

Yesterday, upon the stair,
I met a man who wasn't there
He wasn't there again today
I wish, I wish he'd go away...

lustindarkness

As much as I would like to be taxed less, I know we may need to be taxed more in some areas, less in others and cut spending. Voted option 3. In my opinion, the whole tax law needs to be redone.
Grand Duke of Lurkdom

Grey Fox

Colonel Caliga is Awesome.

merithyn

Quote from: lustindarkness on October 23, 2013, 11:41:16 AM
As much as I would like to be taxed less, I know we may need to be taxed more in some areas, less in others and cut spending. Voted option 3. In my opinion, the whole tax law needs to be redone.

I think that's everyone's opinion. The problem is in figuring out how to get the Dems and the Repubs to work together to find a reasonable compromise. Of course. As if they haven't hit us over the head with that "little" problem already. ;)
Yesterday, upon the stair,
I met a man who wasn't there
He wasn't there again today
I wish, I wish he'd go away...

garbon

"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

merithyn

Quote from: Grey Fox on October 23, 2013, 11:41:34 AM
:blink:

@Meri, you a commie?

That's the tax rate for those at the top tier of income levels, I think. Not your average Joe Shmoe.
Yesterday, upon the stair,
I met a man who wasn't there
He wasn't there again today
I wish, I wish he'd go away...

11B4V

Quote from: CountDeMoney on October 23, 2013, 11:28:57 AM
Raise 'em to the roof.

Yea, the forty seven percenters need their hand outs.
"there's a long tradition of insulting people we disagree with here, and I'll be damned if I listen to your entreaties otherwise."-OVB

"Obviously not a Berkut-commanded armored column.  They're not all brewing."- CdM

"We've reached one of our phase lines after the firefight and it smells bad—meaning it's a little bit suspicious... Could be an amb—".

Eddie Teach

I'd go with something like:
1 million+ - 50%
250k-1mil - 40%
100k-250k - 35%
Under 100k, same rates as now.

Considering there's also state & local taxes to deal with, once over 50% federal income tax you're getting into the area where the Laffer Curve will start having effect.
To sleep, perchance to dream. But in that sleep of death, what dreams may come?

Grey Fox

Quote from: merithyn on October 23, 2013, 11:44:44 AM
Quote from: Grey Fox on October 23, 2013, 11:41:34 AM
:blink:

@Meri, you a commie?

That's the tax rate for those at the top tier of income levels, I think. Not your average Joe Shmoe.

Of course but in this age of world finance anything over 50% is crazy. What's the threshold of the top tier income?
Colonel Caliga is Awesome.

merithyn

Quote from: Peter Wiggin on October 23, 2013, 11:46:34 AM
I'd go with something like:
1 million+ - 50%
250k-1mil - 40%
100k-250k - 35%
Under 100k, same rates as now.

Considering there's also state & local taxes to deal with, once over 50% federal income tax you're getting into the area where the Laffer Curve will start having effect.

I could get on board with that.
Yesterday, upon the stair,
I met a man who wasn't there
He wasn't there again today
I wish, I wish he'd go away...