Thread: Taxing Money More Than Once

Originally Posted by Nickelking

Apologies Nord Jim, I apparently misread your post prior to my previous one.

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I like spotted dick.

No problem. On this one, I'm never sure if I've gotten it right anyway, it's so bloody complicated.

Oh, and actually, I like bubble and squeak.

j

Originally Posted by Wildtim

The thing you have to remmeber with capital gains is that is a tax on top of the income tax, in other words you pay tax on the money you made as income, and then you have to pay capital gains too.

If we went with a flat tax system everything would make sense.

Heres a proposed tax code:

1. Tax all individuals at the same percentage for every penny they make from any source.

2. Corporations are legal individuals and pay the same tax on income as the price of the liability protection incorporation provides.

3. thats it. There are no exceptions, or exemptions for anything.

The problem is its still voluntary compliance. people will cheat. People in the positions will find ways to have their income classified in another form to beat the system. people are very ingenious when it comes to criminal enterprises of all types be it very big or very small.