Showing 9 ideas for tag "tax"
(@craighouchin)

Legal & Policy Challenges

Consumption Tax instead of income tax

Our current Income tax system:
1) taxes personal and business production and is an imposed burden and disincentive.
2) gives rise to the myriad shell company, loop-hole exploiting, tax-dodging financial complexities that litter our financial environment.
3) taxes only those who can least afford it and rewards those who can afford to "hide" their earnings, legally or otherwise.

A Consumption based tax:
1) lets individuals... more »

Voting

85 votes
Active
(@soldarith)

Making Government Operations More Open

Tax audit on all government officials

The IRS needs to perform a tax audit on all elected officials in this nation; all governors, all senators, all congressmen, all ranking administration officials.

All too often the public bears witness to a publicly-elected official or government-appointed official who is caught owing sums of money for back taxes to the IRS. No better example could sadly be made of this than the recent confirmation processes for a handful... more »

Voting

73 votes
Active
(@truthsetsyoufree)

Uncategorized

Keep "W" Tax Cuts - don't let them expire

The central provisions of these landmark tax bills are scheduled to expire over the next five years, which means that taxes will rise dramatically for most taxpayers. Between now and January 1, 2011 (five short years away),

•Tax rates will rise substantially in each tax bracket, some by 450 basis points;
•Low-income taxpayers will see the 10-percent tax bracket disappear, and they will have to pay taxes at the 15-percent... more »

Voting

37 votes
Active

Legal & Policy Challenges

Incentivizing Sustainability Through a Tax Code Based on Consumption

Our tax system is screwed up. We're taxed for owning a house; we're taxed for owning land; we're taxed for having a job; we're taxed for pretty much existing. While it's true that taxes are necessary for a government to function, they don't have to be this numerous and/or complicated. There are thousands of pages of tax codes in Washington that are way too complicated for the average American to understand. Corrupt businesses... more »

Voting

31 votes
Active
(@jongalt)

Making Data More Accessible

Full line item detail: Local

Local political institutions including schools, which consume massive proportions of local taxes, often hide their financial details behind large vague budget items. Require any local agency receiving federal money to release full detailed line item expenses at the accounts payable level using an open system such as Google Docs Spreadsheets. If the citizens can see where the money is really going then we can provide better... more »

Voting

15 votes
Active
(@split63)

Making Government Operations More Open

Taxation Awareness

If you performed the man on the street interview, and asked people any or all of the following, the results would be alarming:
1. How much did you pay in state and federal taxes last year?
2. Do you know what your state and/or federal tax rate/bracket is?
3. What percentage of your monthly pay goes to taxes?
4. What forms of taxation do your pay? (SS, Medicare, Fed Income, State,etc.))
The point is that most people... more »

Voting

7 votes
Active
(@bartkleinikink)

Strategic Planning and Budgeting

Lowering taxes and balancing the budget

During the Great Depression in Wörgl Austria a new monetary system was introduced. The economy started to do very well. Money circulated 14 times faster and tax income rose 1,300%. Because the money was backed by Austrian Schilling, this money had the same value. If tax income in the US rises 1,300%, there is room to end the income tax and lower all other kinds of taxes.

You can read more about it here:
http://www.naturalmoney.org/introduction.html... more »

Voting

7 votes
Active
(@jsnow0)

Legal & Policy Challenges

Increase capital gains tax, lower income tax on highest brackets.

http://www.forbes.com/2009/01/29/irs-high-income-personal-finance-taxes_0129_wealthy_americans.html

"WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during... more »

Voting

-34 votes
Active
(@clesiak)

Making Government Operations More Open

Shift employer portion of FIFA taxes to employees with an equal offset in wages

Employees and employers now each pay 6.2% of wages (up to the Social Security Wage Base) for Social Security and 1.45% of wages for Medicare. The proposal is that employees pay the entire amount of FICA taxes with a corresponding increase in wages so that take home pay is not changed.

Although currently the employee pays only half of the total, his labor must provide value to the employer to cover the employer's half... more »

Voting

-39 votes
Active