Thursday, April 2, 2009
My tax plan
You tax every dollar of income that a person receives at 30% federal and say 10% state. No credits no nothing. That way everyone gets some "skin" in the game. In the future if you want to raise taxes you raise them on everyone. Either that or constitutionally fix the income tax rates and 30/10 and be done. Eliminate every other tax that is out there. No gas tax, alcohol tax, etc... If you have a revenue problem, cut spending.
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I like the idea that they're constitutionally fixed. When new programs and expenses come up it would force a look at old things that should be cancelled.
ReplyDeleteYou want cake? Then you can't have pie. Make a choice because the dinner tab can't exceed eighy gazillion dollars no matter how much you want cake and pie.
How much state tax do you pay in MN? 10%. You're killing me.
ReplyDeleteMN income tax is 6-7%. MN sales tax is 7%ish (most clothing and store-bought food are not sales taxable). Throw in property taxes at an average of say 3% of your gross income, and top all that off with excise taxes (e.g. $.25/gallon gas tax)...you've got yourself well over 10% to the state of MN.
ReplyDeleteSorry this link isn't hypertext, but it's a good webpage to help depict what i'm talking about..
http://www.taxes.state.mn.us/taxes/all_tax_types.shtml