Woolfsmck 2,763 Posted May 13, 2015 Share Posted May 13, 2015 http://finance.yahoo.com/news/ben-carsons-flat-tax-poor-175214945.html The pure flat tax concept hurts the lower income segment, and helps the upper . But giving the first 25k earned a tax exempt clause pretty much eliminates this flaw ....the goal is to simplify the tax process to make it fair for everyone and preserve the incentive to invest.the current system encourages and rewards those who can find and exploit loopholes to evade taxes like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
TiphEret 1,320 Posted May 13, 2015 Share Posted May 13, 2015 What is the current system exactly? Here (in Denmark) I am on the lowest wage and I pay 38% taxes it's huge! the only 6000€ are tax free which is nothing really. I think the taxes raises when you earn at least 60000€ and then you will pay not more than 50% of your income which is a lot but the difference between rich and poor is not so big while it will have a huge impact on a low salary to give more than a third... I wish I would pay less to be honest maybe the flat taxes with 25k exemption is a good idea Sur le sable sur la neige, Sur les images dorées,Sur le front de mes amis, J’écris ton nom Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted May 13, 2015 Author Share Posted May 13, 2015 What is the current system exactly? Here (in Denmark) I am on the lowest wage and I pay 38% taxes it's huge! the only 6000€ are tax free which is nothing really. I think the taxes raises when you earn at least 60000€ and then you will pay not more than 50% of your income which is a lot but the difference between rich and poor is not so big while it will have a huge impact on a low salary to give more than a third... I wish I would pay less to be honest maybe the flat taxes with 25k exemption is a good idea I am not familiar with Denmark economic's. ... This article refers the the U.S. ... Sorry .... But the concept would be the same IMO for any free economy basing its revenue on the taxation of the populous. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
TiphEret 1,320 Posted May 13, 2015 Share Posted May 13, 2015 Yes I understood it was about the US system but what is the current taxe rates and how does it work? Sur le sable sur la neige, Sur les images dorées,Sur le front de mes amis, J’écris ton nom Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted May 13, 2015 Author Share Posted May 13, 2015 Yes I understood it was about the US system but what is the current taxe rates and how does it work?K....current tax rates? Good question ... It varies depending on what you do. Being self employed and owing your own business vs. working for some one else. Married, home owner...? Children? So many variables its confusing . Generally , individuals pay 35 to 40 percent of their income one way or another ...The caveat is that larger wealthier corporations and their management get more breaks or looploles than other segments... Creating a wealth gap like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
TiphEret 1,320 Posted May 13, 2015 Share Posted May 13, 2015 K....current tax rates? Good question ... It varies depending on what you do. Being self employed and owing your own business vs. working for some one else. Married, home owner...? Children? So many variables its confusing . Generally , individuals pay 35 to 40 percent of their income one way or another ...The caveat is that larger wealthier corporations and their management get more breaks or looploles than other segments... Creating a wealth gapOk so that's actually a lot, especially considering it doesn't cover as much as the welfare system comparing to Denmark. So there is a need for a reform then? Sur le sable sur la neige, Sur les images dorées,Sur le front de mes amis, J’écris ton nom Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted May 13, 2015 Author Share Posted May 13, 2015 Ok so that's actually a lot, especially considering it doesn't cover as much as the welfare system comparing to Denmark. So there is a need for a reform then?The tax reform needed is mainly to simplify who pays what and to make it a fair level system that doesn't favor anyone. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
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