A Quote by Steve Forbes
And it would be fair. Everyone will pay the same tax and it will eliminate tax cheaters and corporate shenanigans.
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I support both a Fair Tax and a Flat Tax plan that would dramatically streamline the tax system. A Fair Tax would replace all federal taxes on personal and corporate income with a single national tax on retail sales, while a Flat Tax would apply the same tax rate to all income with few if any deductions or exemptions.
If I could wave a magic wand, we would eliminate income tax; we would eliminate corporate tax. We would abolish the IRS, and we could replace all of it with one federal consumption tax.
Let's abolish the IRS, let's eliminate income tax, let's eliminate corporate tax, let's balance the federal budget, and if we need a tax, it can be one federal consumption tax.
Research has shown that middle-income wage earners would benefit most from a large reduction in corporate tax rates. The corporate tax is not a rich-man's tax. Corporations don't even pay it. They just pass the tax on in terms of lower wages and benefits, higher consumer prices, and less stockholder value.
We need to lower tax rates for everybody, starting with the top corporate tax rate. We need to simplify the tax code. The ultimate answer, in my opinion, is the fair tax, which is a fair tax for everybody, because as long as we still have this messed-up tax code, the politicians are going to use it to reward winners and losers.
Everyone else is parsing it in terms of lowering the corporate income tax. Eliminate it. It's not that big of a generator of income, and it's a double tax. Get rid of it, and you would have an explosion of hiring.
We will lower the tax burden on middle class Americans by asking the very wealthy to pay their fair share. Middle class taxpayers will have a choice between a children's tax credit or a significant reduction in their income tax rate.
Millions and millions of people don't pay an income tax, because they don't earn enough to pay on one, but you pay a land tax whether it ever did or ever will earn you a penny. You should pay on things that you buy outside of bare necessities. I think this sales tax is the best tax we have had in years.
There are big winners in Paul Ryan's 'Roadmap,' and you can guess who they are. He would cut taxes for the wealthy, completely eliminate the corporate income tax, and create a value added tax.
We will also target tax evasion and off-shore tax havens... Everyone must pay their share.
God forbid that the United Kingdom should take a lead and introduce a sensible tax system of its own which would probably comprise a very low level of corporation tax - tax on corporate profits - and perhaps a low level of corporate sales tax, because sales are where they are, and sales in this country are sales here, which we can tax here.
Now, the president would like to do tax reform, which would obviously lower rates for most people in America and make the tax code fair and get rid of loopholes and special treatment. But absent tax reform, the president believes the right way to get our fiscal house in order is ask the wealthy to pay their fair share.
You got to remember, S corporations pay one layer of tax, corporations pay two layers of tax. So we basically see equivalent, but here`s the point. The rest of the world, they tax their businesses at an average rate in the industrialized world of 23 percent. Our corporate is 35. Our top S corporate, small business rate is 44.6 effectively. This is killing us.
The most pernicious of his [Obama] proposals will be the massive Make Work Pay refundable tax credit. Dressed up as a tax cut, it will be a national welfare program, guaranteeing a majority of American households an annual check to 'refund' taxes they never paid. And it will eliminate the need for about 20% of American households to pay income taxes, lifting the proportion that need not do so to a majority of the voting population.
As president, I would promote a Fair and Flat Tax plan, known as the 'EZ Tax.' My tax plan would be the largest tax cut in American history, reforming individual, business, and worker taxes.
No one making less than $250,000 under Barack Obama's plan will see one single penny of their tax raised, whether it's their capital gains tax, their income tax, investment tax, any tax.
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