Results 1 to 7 of 7
  1. #1 Schwarzenegger suggests state consider flat tax 
    PORCUS MAXIMUS Rockntractor's Avatar
    Join Date
    Apr 2009
    Location
    oklahoma
    Posts
    41,888
    Schwarzenegger suggests state consider flat tax
    12:56 PM | June 5, 2009

    Could the flat tax come to California?

    Gov. Arnold Schwarzenegger said today that he would like to see such “radical” proposals come out of a commission now studying an overhaul of the state’s tax system. The governor told the editorial board of the Sacramento Bee that he hoped the commission would not be afraid to propose something like “a 15% straight tax.”

    “That’s the kind of radical, daring kind of a proposal that I want to see on the table so we can look at it and say, ‘Oh, let’s study this, maybe that is the way to go,’ ” Schwarzenegger said during the discussion, which was webcast.

    The current system, based on highly unstable income tax revenue that fluctuates with the economy, “doesn’t work,” Schwarzenegger said.

    Advocates of a flat tax, which applies a single tax rate to all income, say it increases compliance with the tax codes because it is so simple and easy to understand. But opponents dislike that it taxes the wealthy at the same rates as the poor.
    http://latimesblogs.latimes.com/lano.../flat-tax.html

    What is going on with him? Is he going to start making sense?
    Reply With Quote  
     

  2. #2  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    Quote Originally Posted by Rockntractor View Post
    http://latimesblogs.latimes.com/lano.../flat-tax.html

    What is going on with him? Is he going to start making sense?
    No. Shifting the tax burden from income to a flat tax will not solve the problem. The problem is spending. Liberals and RINO's have a hard time getting that into their thick skulls.
    Reply With Quote  
     

  3. #3  
    Senior Member AlmostThere's Avatar
    Join Date
    May 2008
    Location
    A Great Red State
    Posts
    1,920
    Gov. Arnold Schwarzenegger said today that he would like to see such “radical” proposals come out of a commission now studying an overhaul of the state’s tax system. The governor told the editorial board of the Sacramento Bee that he hoped the commission would not be afraid to propose something like “a 15% straight tax.”
    According to salary.com, http://swz.salary.com/salarywizard/l...axrate_CA.html

    If your income range is between $0 and $7,168, your tax rate on every dollar of income earned is 1%.
    If your income range is between $7,169 and $16,994, your tax rate on every dollar of income earned is 2%.
    If your income range is between $16,995 and $26,821, your tax rate on every dollar of income earned is 4%.
    If your income range is between $26,822 and $37,233, your tax rate on every dollar of income earned is 6%.
    If your income range is between $37,234 and $47,055, your tax rate on every dollar of income earned is 8%.
    If your income range is between $47,056 and $1,000,000, your tax rate on every dollar of income earned is 9.3%.
    If your income range is $1,000,001 and over, your tax rate on every dollar of income earned is 10.3%.


    The highest rate is currently 10.3%, the majority of tax payers are probably paying 8% - 9.3% and Arnold wants a 15% straight tax? He's on drugs, right?

    Talk about a fair system those liberals in Hollywood have. On their multimillion dollar salaries, they pay 1% more than some smuck earning $47,057 a year. And they have the nerve to lecture anyone?
    Better to die on your feet than live on your knees.
    Reply With Quote  
     

  4. #4  
    Power CUer NJCardFan's Avatar
    Join Date
    May 2009
    Posts
    15,908
    Quote Originally Posted by lacarnut View Post
    No. Shifting the tax burden from income to a flat tax will not solve the problem. The problem is spending. Liberals and RINO's have a hard time getting that into their thick skulls.
    QFT. This reminds me of a Ronald Reagan quote that goes something like this:

    "It's not that the people are taxed too little. The problem is that government spends too much."
    Reply With Quote  
     

  5. #5  
    Senior Member cat714's Avatar
    Join Date
    Aug 2008
    Location
    TAXifornia
    Posts
    650
    Quote Originally Posted by lacarnut View Post
    No. Shifting the tax burden from income to a flat tax will not solve the problem. The problem is spending. Liberals and RINO's have a hard time getting that into their thick skulls.
    That's the truth.

    Californians from all political sides are angry at the governor and the legislators. You know things have really gone to shit when you see republicans, democrats and independents working together to prevent these politicians from causing more damage. The rats are working hard to find ways to squeeze more money from us.
    Reply With Quote  
     

  6. #6  
    Senior Member cat714's Avatar
    Join Date
    Aug 2008
    Location
    TAXifornia
    Posts
    650
    Quote Originally Posted by AlmostThere View Post
    Talk about a fair system those liberals in Hollywood have. On their multimillion dollar salaries, they pay 1% more than some smuck earning $47,057 a year. And they have the nerve to lecture anyone?
    On top of that, the recent budget gives about a 20%-25% tax break to the film industry.
    Reply With Quote  
     

  7. #7 Update 
    Banned
    Join Date
    Mar 2009
    Location
    Redondo Beach, CA
    Posts
    1,003
    Update from WSJ: Schwarzenegger Gets Radical

    California's Arnold Schwarzenegger shocked nearly everyone in Sacramento last week when he endorsed a flat tax for the state. Or did he? His exact statement was that a "15% straight tax" is "the radical, daring kind of a proposal that I want to see on the table."

    Gulp. 15 percent! The top tax rate right now is only 10.5%. When I asked the governor's press office about the statement, they assured me, "The governor has not decided on a specific rate. He has only said he likes the concept of a flat tax."
    Where's that list of best cities in the U.S.? -- Also, I need the number of a good mover.
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •