On Mon, 23 Oct 2017 16:16:08 -0000 (UTC), Bill
wrote:

wrote:
On Sun, 22 Oct 2017 17:53:33 -0400, Keyser Soze
wrote:

On 10/22/17 1:53 PM, Bill wrote:
wrote:
On Sun, 22 Oct 2017 12:56:36 -0400, Keyser Soze
wrote:

On 10/22/17 12:05 PM, Mr. Luddite wrote:


You just seem to be opposed to anything others have that you don't.

Not at all. Too many of the rich have too many ways to avoid manner of
serious taxation. Trump also wants to eliminate the AMT. If, if you want
to eliminate the estate tax and perhaps the AMT, just tax all income as
ordinary income, okay? Okay?

The AMT ends up grabbing a lot of middle class people. It was a "good
idea" that backfired.

As for tax, I would go with a flat tax if I wanted to be fair. Just
set a pretty high personal exemption and tax the rest at a flat rate,
no deductions. If it was 16%, guys like Buffett would be paying more
... if you believe what he says.


I have no problem with taxing all income as ordinary income. But qualified
dividends were already taxed at the 39% corporate tax rate, and then the
person getting them pays 20% of that money to the Fed. Seems as if that
makes a tax rate of about 51%. Fair?


I doubt many corporations are paying at the 39% rate.

It depends on 39% of what?
That is what they pay on their profits but like most taxes, with the
right accountant, you can reduce your tax liabilities. If you had a
simpler tax code, you could reduce the rate and still get as much if
not more money.


Sort of like Toyota. Few years ago, they made no profit in the USA.
Seems as if the supplies from Japan cost the same as the income derived
here.

That is one of the ramifications of the global economy. A
multinational corporation prices their goods coming and going from
each country that they pass through so they can take the profits in
the one with the most favorable tax code. There are very few things
that are sold here that do not have significant content coming from
other places. Mexico will give them significant tax incentives to do
the most profitable assembly there and then they get to import it here
tax free under NAFTA.