The Firing Line Forums - View Single Post - How many times does your income get taxed?

pitz96 · October 19, 2007, 05:20 PM

Taxes--yikes! The IRS rules and regs. are so complex its insane. I'd go for either a flat tax or a pure consumption tax just to simplify and eliminate the byzantine system we have to slog through today, even if I had to pay a bit more.

Also crazy is the limit on Social Security deductions. Someone making the limit for deductions of $90,000 or so pays the same as someone making, say, $100,000,000, like a hedge fund manager. No wonder SS is going broke. People cry that it would be unfair for the super rich to pay into SS on their whole incomes because of SS payout caps they's be eligible for. yeah right. and its real fair for them to only pay on the first $90,000 or so out of millions a year in income.

October 19, 2007, 05:20 PM	#12
pitz96 Senior Member Join Date: July 4, 2006 Posts: 218	Taxes--yikes! The IRS rules and regs. are so complex its insane. I'd go for either a flat tax or a pure consumption tax just to simplify and eliminate the byzantine system we have to slog through today, even if I had to pay a bit more. Also crazy is the limit on Social Security deductions. Someone making the limit for deductions of $90,000 or so pays the same as someone making, say, $100,000,000, like a hedge fund manager. No wonder SS is going broke. People cry that it would be unfair for the super rich to pay into SS on their whole incomes because of SS payout caps they's be eligible for. yeah right. and its real fair for them to only pay on the first $90,000 or so out of millions a year in income.