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karynnj

(60,504 posts)
21. The first thing would be a national discussion
Wed Aug 27, 2025, 03:06 PM
Aug 27

Many Democrats have pointed out that our values are in our budget. The same thing can be said of our tax laws.

Some provisions were designed to favor certain decisions. One major one was that decades ago, people argued that home ownership was good both for people who did so and for the overall community. In the tax law, this resulted in being able to lower taxes by itemizing both mortgage interest and property taxes. For some, that savings made ownership more affordable than renting. A less difficult to eliminate change would be the various provisions for things like buying green products.

But, as Democratic legislators pointed out some corporations have entire pages in the tax code that benefit just them.
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So, in designing a fair system, you might have to start from where we are on somethings, phasing out things that large numbers of people would be negatively affected by.

A fair system might streamline income based payments to and from the government. There is some of that now with the Earned Income Credit and other provisions. ( Back in the1960s, there was discussion of replacing welfare with a negative income tax. )

In addition to busting the budget and giving hugh cuts to the wealthy, the 2017 tax law led to more people taking the standard deduction. You could say that that simplified preparing taxes, but it also cynically hurt people in blue states by capping SALT.

Recommendations

0 members have recommended this reply (displayed in chronological order):

Reimpose the tax system from the late 90's WSHazel Aug 27 #1
or reimpose the tax rates from the 1950's under Eisenhower, Jack Valentino Aug 27 #33
Glibly, no more billionaires mr715 Aug 27 #2
Progressive income tax, vat tax for public healthcare, applegrove Aug 27 #26
Tax Laws JustAnotherGen Aug 27 #3
56% on all income above $20,000 ? MichMan Aug 27 #7
240k in today's dollars carpetbagger Aug 27 #12
What i would do is set it at 150k, and anything below that is tax free Volaris Aug 27 #15
Thanks JustAnotherGen, What in specific from 1956 tax code? DUU Aug 27 #14
I think its funny so many MAGAs biocube Aug 27 #17
Both of my grandfathers JustAnotherGen Aug 27 #25
Transaction tax on certain loans Jerry2144 Aug 27 #4
Generally, Ike's tax structure is the closest to my ideal Torchlight Aug 27 #5
Remove the SS cap Freddie Aug 27 #6
A message that will confuse Repubes LR3 Aug 27 #8
First, collect all of the unpaid taxes. nt chowder66 Aug 27 #9
I don't care if it's "fair" to billionaires n/t leftstreet Aug 27 #10
Most billionaires no longer work haele Aug 27 #16
Replace personal and corporate income tax Disaffected Aug 27 #11
What's not to like? Chemical Bill Aug 28 #37
They don't usually stick it under the mattress either. Disaffected Aug 28 #48
How do you collect a progressive sales tax? MichMan Friday #49
The tax charged depends not on the individual purchaser Disaffected Friday #50
I can think of untaxed potential WarGamer Aug 27 #13
That's a fair way to get money and doesn't directly impact even small time investors. haele Aug 27 #19
How do you justify that on things like penny stocks? thatdemguy Aug 27 #30
I'd make exceptions... WarGamer Aug 27 #31
Not trying to be snarky, but what's fair? EdmondDantes_ Aug 27 #18
10% flat tax bif Aug 27 #20
Very regressive compared to even the BBB karynnj Aug 27 #22
Good for the well healed, horrible for the remainder. Disaffected Aug 27 #23
Yes WmChris Aug 27 #29
Flat taxes are unfair to the poor, and a boon to the rich, Bif.... Jack Valentino Aug 27 #34
That's much more painful for a single mother in a minimum wage job with two kids than Scrivener7 Aug 28 #41
The first thing would be a national discussion karynnj Aug 27 #21
The Standard Deduction was increased substantially in 2017 MichMan Aug 27 #24
That's ONE part of the 2017 Trump tax bill that I agree with--- Jack Valentino Aug 27 #35
It lowered taxes for many, if not most, who itemize as well SickOfTheOnePct Aug 28 #44
If the 2017 law had done without lowering the rates at the top, karynnj Aug 28 #46
Masters of war pay the most. GreenWave Aug 27 #27
I have a few things to say that won't don't in the title bar. thatdemguy Aug 27 #28
This message was self-deleted by its author DUU Aug 28 #47
And remove SS cap. Sneederbunk Aug 27 #32
I have not thought long and hard about this question but BlueSpot Aug 27 #36
No state, local, property or sales taxes... Chemical Bill Aug 28 #38
Graduated. No tax on poorest 10% and certainly 95% rate on that second billion an oligarch makes Scrivener7 Aug 28 #39
More of a flat tax Johnny2X2X Aug 28 #40
So that's a graduated tax. And I think that's the fairest answer. Scrivener7 Aug 28 #42
Yeah Johnny2X2X Aug 28 #43
I see your point, but it is a graduated rather than a flat tax. Scrivener7 Aug 28 #45
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