Thread: Support the Flat Tax - calculate your flat tax

The Issue
Today, Americans are paying the highest taxes in the nation's history. The current complex tax system includes several inequities. It penalizes married couples by making them pay higher taxes than single individuals. And many Americans face a death tax that claims a significant portion of their estate after they die.

Our Position
We want to scrap our confusing, unfair tax code and replace it with a simple flat tax of one low rate with no deductions or special interest loopholes. We also want lower taxes at the federal, state, and local levels. We want to keep the Internet free from taxes as well.

http://www.freedomworks.org/petition/fl ... fc729204fd

The question.

How will you pay for all those illegal aliens if you do this?

Sorry, I'd pay a lot more. Right now I'm stuck with two houses I can't sell, and can't rent for enough to cover the mortgage. The interest deduction is saving my butt.

Do you get to deduct interest for two houses?

Yes. I live in one and lived part of the year in the other one. Next year it will be different for the one I am renting out.

After that, the interest for the rental goes on schedule E.

I'm just being nosy - sorry.

I understand if you are renting it, but do you get to deduct the entire year for both if you only lived in each one part of the time?

Don't answer if I'm being no intrustive -

If you live in it for at least a little (14 days I think but I was there for months) it qualifies as a second home. If not, it still gets deducted as a cost of renting it but on a different form.

I don't mind you asking. A lot of homes that were for sale in my neighborhood are now rentals.

I really am asking for a reason - not to nose into your affairs.

I didn't know a second home mortgage interest was deductible - that's interesting.

Thanks.

I like the no tax plan. None of the money we pay in taxes go to the Federal govt. It goes to pay the intrest to the Federal Reserve Bank which has "loaned" money to the united States. Some politician had a great idea. Remove the Federal Reserve and print out own money backed by gold or silver.

Perhaps, we could reopen those gold mines shut down by the US govt back in 1947 and then we will be able to take care of ourselves.

I like Ron Paul's idea of getting rid of the income tax and having user fees instead to pay for the things we need. We would still have to pay SS but it would be optional. The states would have to take more responsibility for their needs. I thought about that part. If the states had to be more responsible for where their money went, they wouldn't be in such a hurry to fund illegals, would they. Bet they'd even let the cops ask a person's status then.