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SuXuemei Profile
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Registered: 04-2009
Location: Anchorage, AK
Posts: 85
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Re: The Declaration of Cumaná: Capitalism 'threatens life on the planet'


Actually, I understand perfectly how taxes work in our current system. What I wanted to know is: in the tax system you would design that you described "Imagine your w2 generates an automatic bill or check from the government every year, No dependents, No tax breaks," how you would deal with 1099 income, non-monetary transactions, Schedule C income, Schedule K income, stock options, and other complexities that our tax system evolved to capture.

It appears that you are not understanding how stock options work as compensation, neither are you understanding the valuation issues involved, and thus the tax issues involved, but that's okay.

The point is, you can start out with what sounds like a perfectly good idea, but complexities that exist / evolve cut you off at the pass.

You said "no deductions." Ok - fine. You'll bankrupt virtually everyone with schedule C and schedule K income, because giving up 15% of their gross margin isn't reasonable and will strangle business. Currently, that income is taxed based on gross receipts less whatever expenses the IRS thinks are reasonable to run a business. And that gets you back in the business of defining deductions. So when you dismiss my question about how you are going to define net income by "oh well they're supposed to pay themselves anyway" ... you didn't really answer the substance of what I said.

As far as your average family statistics: 1) where are you getting those? 2) I can guarantee you that picture is a gross oversimplification.
5/18/2009, 8:40 pm Link to this post Send Email to SuXuemei   Send PM to SuXuemei
 


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