Simplified tax plan: Tax Equity Act 1. All non-tax exempt corporations and all individual persons will calculate their gross income from all sources and without any exemptions or...

justkillingtime

Tax Equity Act
1. All non-tax exempt corporations and all individual persons will calculate their gross income from all sources and without any exemptions or deductions for each fiscal year and report the amount to the federal government.
2. Each fiscal year the federal government will calculate the national gross income of all individual and corporate taxpayers and report this amount to the taxpayers.
3. Each fiscal year all individual and all corporate tax payers will pay a tax according to the formula (A/B)(C) where A = the taxpayers gross income for the previous fiscal year; B = the national gross income for the previous fiscal year and C = the taxpayers gross income for the current fiscal year.
4. Corporations and organizations that are exempt from federal income taxes prior to the enactment of TEA will retain their exempt status under TEA.

ghost1954

want to bet they will find a way to scrue the public again as always? and would you care to bet that the unions find a way too bee exempt along with congress and who knows who else/

andrew998 Loc: NYC

justk*****gtime wrote:

Tax Equity Act br 1. All non-tax exempt corporatio... (show quote)

So, if corporations are exempt from federal income taxes, they will probably stop offering health insurance since there is no longer a deduction for same.
Keep Obamacare?

AuntiE Loc: 45th Least Free State

andrew998 wrote:

So, if corporations are exempt from federal income taxes, they will probably stop offering health insurance since there is no longer a deduction for same.
Keep Obamacare?

As you well know, I am not good at math; however, did I miss percentages for this tax plan?

andrew998 Loc: NYC

AuntiE wrote:

As you well know, I am not good at math; however, did I miss percentages for this tax plan?

There is no math. Corporations provide health insurance for their employees because they get a tax break for doing it. Under any flat tax plan they may lose that deduction and therefore stop offering it. Now what do we do? Keep Obamacare is one solution you may propose others.

AuntiE Loc: 45th Least Free State

andrew998 wrote:

There is no math. Corporations provide health insurance for their employees because they get a tax break for doing it. Under any flat tax plan they may lose that deduction and therefore stop offering it. Now what do we do? Keep Obamacare is one solution you may propose others.

I was speaking of the Simplified Tax Plan. I saw no numbers, even a flat tax rate. Did I miss it?

justkillingtime

andrew998 wrote:

So, if corporations are exempt from federal income taxes, they will probably stop offering health insurance since there is no longer a deduction for same.
Keep Obamacare?

I didnt say corporations would be exempt, jackass. I said that corporations that are now exempt, i.e., churches and charities, would remain exempt. For profit corporations would pay taxes like everybody else would.

justkillingtime

andrew998 wrote:

There is no math. Corporations provide health insurance for their employees because they get a tax break for doing it.

Explain Walmart.

andrew998 Loc: NYC

andrew998 wrote:

There is no math. Corporations provide health insurance for their employees because they get a tax break for doing it. Under any flat tax plan they may lose that deduction and therefore stop offering it. Now what do we do? Keep Obamacare is one solution you may propose others.

Its more of a rant than a tax plan.

sandra1938

many people who rant ( extravagant speech)can also make sense.

sandra1938

many people who rant (extravagant speech) can also make sense.

andrew998 Loc: NYC

justk*****gtime wrote:

I didnt say corporations would be exempt, jackass. I said that corporations that are now exempt, i.e., churches and charities, would remain exempt. For profit corporations would pay taxes like everybody else would.

I read the statement "Corporations and organizations that are exempt from federal income taxes prior to the enactment of TEA will retain their exempt status under TEA." as applying to corporations also.

justkillingtime

andrew998 wrote:

I read the statement "Corporations and organizations that are exempt from federal income taxes prior to the enactment of TEA will retain their exempt status under TEA." as applying to corporations also.

There is no way you could have legitimately interpreted the word prior in this manner. You simply read what you wanted to read for the sake of justifying an argument.