Bush's "new tax code" = more tax shift from rich to middle/lower

[quinnox]

These new changes to the tax code Bush is talking about I bet it will be more shifting of the tax burden from the rich to the middle and lower classes.

It's robin hood in reverse, I just wonder how much of this America can and will take. You would think maybe there might be some moderate republicans who might have some guts to stand up to Bush, but that's probably wishful thinking.

[The Chronicler]

1. I think they might try and push a FLAT TAX through

It'll be interesting to see how it works out.

[votefordan]

6. A while back he mentioned a NST

or consumption tax.

To me, I dont like the current version of the "fair tax" because it taxes everything and then sends people a check on the "estimate" that they spent on necessities each month.

A good national sales tax that replaces income tax would NOT tax the necessities (like unprepared food, utilities, medical costs, gasoline, the first X thousand on a car the first Y Hundred thousand on a house, 2nd hand items under $200). You can then tax the other goods and services.

If it doesnt tax the necessities then it cannot be seen as regressive. And if it taxes items like a house after 300,000 then the rich will definitely be paying more into the system and wont be able to dive a tax lawyer through anymore loopholes.

Imagine if the gas tax was elimitated. The cost of EVERYTHING would go down. Which would make it even better for people that are poor.

[The Chronicler]

7. I tend to agree. I'm interested in tax reform.

Although the Democratic Party apparently isn't. It will be interesting to see if broad reforms of the income tax will succeed.

[ellacott]

2. It could hurt homeowners

If they eliminate all deductions they would end the mortgage interest deduction. This would cause home sales to slow down and hurt some homeowners who depend on their tax refunds. I'm disappointed that more people aren't discussing this.

During the last election I had an issue with the tax cuts. No one listened, they thought this was just another empty campaign promise. During this election tax reform was a concern of mine. Again I was blown off.

When Dennis Hasert began talking about it when he was doing his book tour I knew this was something they were going to do once they regained control. Hastert was being a maverick in suggesting this. It was all part of the Republican plan. What they did was fool a lot of people and lie about the plans that would give tax incentives. There was no intention to honor this.

[City Lights]

3. This really pisses me off.

I tried to warn a friend of mine about this. They are middle class, but must cut corners to get by. It went in one ear and out the other. Her only issue this time was her safety, and the burden of proof was on Kerry. I asked her why she felt safer with the _chimp but all she would say was that it was up to Kerry to convince her he'd make America safer than _chimpy. This is not a dumb woman either. She's well educated and very :scared: of _chimpy's attempts to tear down the wall between church and state. She was also :scared: of the make up of the USSC under a 2nd _chimp term. I could go on and on because she was more in line with Kerry on every issue, but in the end she went _chimp because of the fear factor. I'll have no sympathy, nor will I tolerate any whinning when she realizes what she did.

[ellacott]

4. I don't understand it

I don't understand how they can be so naive. It angers me.

[HughBeaumont]

5. They can take a lot apparently . . .

Things must be REALLY freaking spiffy if they can elect a president with such glaring failures and think he needs "just another term".