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SpartanDem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 05:36 PM
Original message
White House Wants Your Ideas on Tax Reform
Edited on Fri Sep-25-09 05:37 PM by SpartanDem
Hopefully a lot progressive people and orgs get involved with this


President Obama has asked the President's Economic Recovery Advisory Board (PERAB) to develop options for tax reform. The members of the tax subcommittee are preparing ideas to be considered by the board and would like to give anyone a chance to have input into the process on this important issue. Anyone wanting to share ideas and opinions for consideration by the subcommittee can do so here. The deadline for submissions is October 15th, 2009.

Note: The mandate to the PERAB is NOT to recommend a new tax system. They are to consider ideas on tax simplification, better enforcement of tax law, and reforming corporate taxes and to present the pros and cons of potential tax options. They were instructed not to consider options that involve raising taxes on families making less than $250,000 per year. So be mindful of their constraints when submitting ideas.

In general, the tax subcommittee will post all comments online for others to examine and those suggestions may spur other people's ideas. All statements, including attachments and other supporting materials, received are part of the public record and subject to public disclosure. You should submit only information that you wish to make available publicly. Please do not submit materials exceeding five single-spaced pages of text. If submitting via e-mail, please send to perab@do.treas.gov . Please also include a cover sheet including the submitter's name and organization, type of organization (individual, business, government, non-profit organization, or association), submission date, and contact information.

http://www.whitehouse.gov/blog/Tax-Reform-Subcommittee-...
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RUMMYisFROSTED Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 05:45 PM
Response to Original message
1. Zero tax under the median, 100% over.
:think:
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robo50 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 03:34 PM
Response to Reply #1
25. I can go for that. LOL Or how about the bottom 99% pay at a
Edited on Sat Sep-26-09 03:35 PM by robo50
1% tax rate, and the top 1% pay at a 99% tax rate.
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 05:48 PM
Response to Original message
2. Needlessly dancing around the issue
Just roll back all tax rates to the levels that existed when Reagan first took office, problems solved.

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Salviati Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 06:27 PM
Response to Original message
3. I'd just be happy if they treated all income the same.
Why should the income that one earns by the sweat of one's brow be taxed higher than the income generated by a rich man's hoard? Who is it that generates REAL wealth in the world?
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robo50 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 03:38 PM
Response to Reply #3
26. THis should be true for all but the retiree's who planned on
living a modest life based upon dividends and interest from tax free bonds.

They would need a few years to adjust down from a million a year to 30,000 a year per retiree.

Of course, there are only a handful, a few thousand at most, who get a million a year from dividends taxed at lower rates, and I don't mind their losing a few tens of thousands when having to pay more taxes.
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greymattermom Donating Member (680 posts) Send PM | Profile | Ignore Fri Sep-25-09 06:48 PM
Response to Original message
4. self employed
Tax is needed for the self employed. So many jobs are contracts now. without benefits. College educated kids can hope to get medical and retirement when they reach 30. Before then, they pay for everything, can't get married, buy a house, have kids, etc.
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Canuckistanian Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 07:37 PM
Response to Original message
5. Tax the rich. There's my idea.
Allow the Bush tax cuts to die a natural death.

Eliminate the FICA ceiling by taxing everyone at the same rate.

Cut the deductions for things that only families with over $200k income can possibly claim.

Re-instate "luxury taxes" on things like yachts and vehicles over $50k.

And tax Capital Gains at the regular rate.



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Thickasabrick Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 08:49 PM
Response to Reply #5
10. Ditto....I like the way you think. nt
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IndianaGreen Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 07:39 PM
Response to Original message
6. Prepping us for the next BOHICA
Time to stock up with KY Jelly.
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RJDem Donating Member (61 posts) Send PM | Profile | Ignore Fri Sep-25-09 07:47 PM
Response to Original message
7. Why even bother?
Most people want a public option or single payer when it comes to health care reform, and they have already said it's okay if the bill doesn't have one. Apparently they just want to give folks the illusion that their opinion matters.
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IndianaGreen Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 07:53 PM
Response to Reply #7
8. Millions marched against the war in Iraq in 2002 and 2003
and this is what our leaders did:


President George W. Bush along with bipartisan leaders from the House and Senate announced the Joint Resolution to authorize the use of the United States Armed Forces against Iraq. "The statement of support from the Congress will show to friend and enemy alike the resolve of the United States," President Bush said during the announcement in the Rose Garden, Wednesday, October 2, 2002. White House photo by Paul Morse.

http://www.scoop.co.nz/stories/WO0210/S00033.htm

They just give us the illusion that our opinion matters, and we want very much to believe we have some input.
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RJDem Donating Member (61 posts) Send PM | Profile | Ignore Fri Sep-25-09 08:01 PM
Response to Reply #8
9. Exactly
And so far, Obama hasn't demonstrated to me that he is any different in this regard. If he vetos any healthcare reform bill without a public option I MIGHT start to believe he really cares about what his constituents want. Haven't seen a hell of a lot of the "representative" part of our representative democracy the last few decades.
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TheKentuckian Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 03:22 AM
Response to Reply #9
16. Is there some constructive purpose to wallowing in negativity?
Preemptive disappointment isn't some improvement on being a quitter, its the same thing.

It is pretty much spamming to respond to every post with handwringing and an angry woe is me.
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RJDem Donating Member (61 posts) Send PM | Profile | Ignore Sat Sep-26-09 01:34 PM
Response to Reply #16
20. The main problem as I see it
... Is that we work hard (very hard in fact) to elect leaders based on the promises they make. And then a good portion of us sit back and give them our deepest idolatry instead of holding them accountable. And so far my disapointment with Obama is real time - not preemptive.

Just one example - the people he has put in charge of regulating the financial sector were just as at home in the Bush administration as they are in his. AIG exec million dollars bonuses have to be paid using OUR money? Oh yes we are told because AIG gave them contracts and contracts can't be broken. But if you're a union auto worker then no problem - your contract isn't worth the paper it's printed on.

Now please explain to me.... How is that any different than something the Bushies would have done? Please help me understand.
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applegrove Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 09:18 PM
Response to Original message
11. A value added tax on luxury items like getting your hair streaked.
Focus it on expensive things and a family struggling will never get taxed by the vat tax.
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Wilms Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 11:49 PM
Response to Original message
12. k&r n/t
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4lbs Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 11:52 PM
Response to Original message
13. Raise the Social Security tax cap from $90,000 to $1 million. (n/t)
.
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4lbs Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-25-09 11:53 PM
Response to Reply #13
14. Any company that ships jobs overseas pays a $12K tax per job to offset the increased costs
Edited on Fri Sep-25-09 11:54 PM by 4lbs
for that laid-off worker's unemployment, health care, and retraining.


EDIT: Oops. Replied to my own reply. :shrug:

Oh well... :blush:
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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 02:20 AM
Response to Original message
15. Toss graduated rate brackets. Use an exponential curve to calculate the tax rate
Create it where the people earning nothing will pay nothing, and the top 1% will carry the bulk, adjusted at such a way that the sum of the area under the curve is equivilent to the desired government revenue. The area under the top 1% should be equivilent to the area under the bottom 95% of the graph.

Also, tax capital gains at the same rate as income.
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TheKentuckian Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 03:34 AM
Response to Original message
17. #1. Restore value and respect to workers by giving balance to income from work
vs. income from investment.

#2 for fairness in the tax code and to begin to turn away from social engineering either expand deductions to give renters back some value or end them for home owners.

#3 End credits and/or penalties for marriage in the code. All citizens should be equal under the law.

#4 Those that benefited the most over the past decade of deregulation need to pay more into the system.

#5 We need to begin to address the sustainability issues with Medicare and Social Security.
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boppers Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 03:59 AM
Response to Original message
18. Fix the circular loopholes.
There are HUGE, TRUCK-SIZED, loopholes for "small business".

One year, my father took in $257K in personal income and benefits, and reported on $17.50 in taxable income.

Legally.

Not from investments, we're talking retail business.

His car was a "company" car, for example, which the company bought, and then "sold to him" at a massive loss (deduction for the company), which he then "rented back" to the company (also at a massive loss, deduction for him), and he then drove it, and got mileage deductions on.

This kind of gaming is all over the tax code.

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Orsino Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 07:24 AM
Response to Original message
19. No, it doesn't. It really doesn't.
I'm a fan our our president, but he's not going to push--or even consider--proposals that I would make in this arena.
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joeycola Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 01:50 PM
Response to Original message
21. they wanted our advice about health care reform also then kicked single
payer under the table.

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brentspeak Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 01:57 PM
Response to Original message
22. In the same way Obama claimed to want our input on healthcare reform
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Autumn Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 03:20 PM
Response to Original message
23. Why? No one will listen to us on health care
why mess with tax reform.
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masuki bance Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 03:24 PM
Response to Original message
24. How about no new taxes for those under 250k, including for insurance mandates? nt
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leddytech Donating Member (9 posts) Send PM | Profile | Ignore Sat Sep-26-09 04:43 PM
Response to Original message
27. 0% or 100%
0% for people making under 30k
100% for everyone making over 30k
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tabbycat31 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-26-09 10:56 PM
Response to Original message
28. a few things
cap the child tax credit at four children. You can have as many as you want, but i really don't want Uncle Sam subsidizing the Duggar Family.
raise the EITC income levels and credit amounts for people without children.
End the cap on Social Security taxes. A CEO should pay the same percentage as I do.
Tax capital gains as regular income.
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