More polls by Drue-AFCL

The correct take-home lesson of the IRS scandal is that no society, that needs such an intrusive tax agency that even CAN do things this way, can call itself free.

If everyone including all the corporations paid the same percentage

PDark, if you own shares of a corporation and the business pays taxes on its profits, the dividends paid to you are AFTER the corp pays the tax. you then receive that dividend and are taxed on the net profit AGAIN. Bottom line, regardless if the tax RATE is the same, you are still subject to having that dollar of profit taxed twice, so why do you thank that would be okay?

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that would close all the loopholes of hiding money in foreign accounts as a means of not paying taxes on it.

If you invest money in a foreign venture and make, say. $50,000 in profit, you rightly would pay taxes on that $50k in the country where the profit was earned. If we pay, say $15k in tax to that foreign nation, you now have $35,000 in net after tax profit. Under today’s U.S. tax code, if you bring that after tax $35k into the U.S. you will be subjected to ANOTHER tax on your NET profit. THAT is why people leave their net earnings off shore. Having the same tax rate between individuals, businesses, corporations, estates, dividends, etc, doesn’t prevent the IRS from making a claim against whatever earnings you bring into the country.

That’s why we need to reject the Flat tax idea in favor of the FairTax bill curr.

If everyone including all the corporations paid the same percentage

PDark, if you own shares of a corporation and the business pays taxes on its profits, the dividends paid to you are AFTER the corp pays the tax. you then receive that dividend and are taxed on the net profit AGAIN. Bottom line, regardless if the tax RATE is the same, you are still subject to having that dollar of profit taxed twice, so why do you thank that would be okay?

== == ==

that would close all the loopholes of hiding money in foreign accounts as a means of not paying taxes on it.

If you invest money in a foreign venture and make, say. $50,000 in profit, you rightly would pay taxes on that $50k in the country where the profit was earned. If we pay, say $15k in tax to that foreign nation, you now have $35,000 in net after tax profit. Under today’s U.S. tax code, if you bring that after tax $35k into the U.S. you will be subjected to ANOTHER tax on your NET profit. THAT is why people leave their net earnings off shore. Having the same tax rate between individuals, businesses, corporations, estates, dividends, etc, doesn’t prevent the IRS from making a claim against whatever earnings you bring into the country.

That’s why we need to reject the Flat tax idea in favor of the FairTax bill currently in congress (with almost SEVEN DOZEN COSPONSORS). If you bring your net profits back to the U.S. you are free to invest it, save it or spend it. But only if you choose to spend it will taxes be paid as the FairTax is a consumption (sales) tax imposed on all new goods and services. The difference is that YOU choose when, where, and how much taxes are paid.