House GOP Now Have a Tax Code Reform Plan

[Frodo]

Link.

[True Federalist (진정한 연방 주의자)]

Link.

What about Zelda?

[Small Business Owner of Any Repute]

The GOP wants to drop the top tax rate down to 25% and close the budget hole. Joke party.

[King]

Flattening the tax code only has a remote chance of working if all tax dollars collected go 99 percent to the poor. 

[AggregateDemand]

The GOP wants to drop the top tax rate down to 25% and close the budget hole. Joke party.

You don't know much about the tax code, do you?

The rate reduction would obviously be achieved by eliminating deductions, like mortgage interest deduction (corporate welfare). Furthermore, FICA tax is regressive, and many reformers have wanted to uncap the FICA system to stop bracket creep abuse of the middle class by federal administrators. This reform also appears to include a Buffet rule of sorts.

[Indy Texas]

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So basically, they want to punish the sort of near-rich professional classes who have been part of the Democratic Party's "gentry coalition" in the Obama Era, while exempting their own base of farmers, extractors of natural resources, and the One Percent.

[hopper]

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So basically, they want to punish the sort of near-rich professional classes who have been part of the Democratic Party's "gentry coalition" in the Obama Era, while exempting their own base of farmers, extractors of natural resources, and the One Percent.

1 percent: George Soros, Lloyd Blankfein, and Jamie Dimon are part of the 1% and are Democrats.

[hopper]

Even the Romney plan was more comprehensive and plausible than this lazy excuse of a tax plan, and Herman Cain's far more interesting.

What 9/9/9?

[True Federalist (진정한 연방 주의자)]

Even the Romney plan was more comprehensive and plausible than this lazy excuse of a tax plan, and Herman Cain's far more interesting.

What 9/9/9?

Interesting doesn't necessarily mean good.

[hopper]

This is the same reform as 1986. Democrats may go for most of this with some modifications like they did in 1986 because it eliminates junk loopholes.

[All Along The Watchtower]

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So basically, they want to punish the sort of near-rich professional classes who have been part of the Democratic Party's "gentry coalition" in the Obama Era, while exempting their own base of farmers, extractors of natural resources, and the One Percent.

1 percent: George Soros, Lloyd Blankfein, and Jamie Dimon are part of the 1% and are Democrats.

Ok, but that doesn't mean that most super-rich Americans aren't Republicans.

[AggregateDemand]

This is the same reform as 1986. Democrats may go for most of this with some modifications like they did in 1986 because it eliminates junk loopholes.

deductions are just corporate welfare anyway. The more deductions, the more forms to file. The more forms to file, the more people look to Turbo Tax, H&R Block, etc. Business capture a sizable chunk of the tax savings, and the push the boundaries of proper tax-preparation which reduces government revenues further.

Inefficiency doesn't help taxpayers, and deduction-based social-engineering is never as effective as promised.