Rand Paul tax calculator

P3ter_Griffin

Member
Joined
Jan 4, 2012
Messages
1,979
What?

Rand Paul tax plan calculator.

Why?

To highlight and bring attention to Rand Paul's tax plan, and how much it can save an individual. To motivate an individual to donate to Rand Paul. Possibly a source of ad revenue.

Who?

Collaborative grassroots project meant to reach any and all potential voters, focused towards individuals who think lower taxes are good.

When?

Now. The sooner the completion the better.

Where?

Everywhere. The ability to embed on websites, forums, and money bombs. The ability to interact with the calculator through social media sites like facebook and twitter.

Ownership:

Ronpaulforums.com / open source


Inputs:

Yearly salary or hourly wage and number of hours worked per week. Household size.


Outputs:

Tax savings under Rand's plan:
1. savings from elimination of payroll taxes
2. savings from reduced tax rate
3. total savings
4. savings per week

Blackbox:

1. calculate users (estimated?) payroll taxes ceteris paribus, display amount as payroll savings
2. calculate users (estimated?) tax rate ceteris paribus, calculate users (estimated?) tax rate under Rands plan. Subtract the latter from the former to display savings from reduced tax rate.
3. Add totals from numbers 1 and 2 together to display total savings.
4. Divide total from number 3 by 52 to provide savings per week.

Other possible solutions include figuring a percentage of total savings (6.75% has been offered as it amounts to payroll tax saving iirc) to prompt a user for a donation in that amount. Useful for money bombs and etc.

Data needed for black box functions:

Rand Paul's tax plan in mathematical formula. Current tax plan in mathematical formula, not including tax loopholes etc.


Hosting?:

Ronpaulforums.com? It does provide an opportunity for ad revenue so maybe some else would like to host it? I have not asked RPF admin if they would host it, this is an unknown.


Design

Embed Input:

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Embed Output:

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As mentioned above, we may want the ability to include more functions such as calculating a suggested donation amount, etc.


Twitter in and out:

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Concept is that someone would tweet to RPF (or rand) with a hashtag to signify salary input and a hashtag to signify household size input, then a bot of some sort would send the request to the hosting website, and feed the output back to the user through twitter.

Facebook:

I have never used facebook and I don't know how we could best set up intractability with facebook (ie would embed work? something more similar to twitter?)

Thoughts?



Shout out to Revolution 3.0 for the idea.
 
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Great idea - it might be better to do monthly savings though instead of weekly, most people budget for the month and think in terms of monthly income/rent/car payments/etc.
 
I like it. I could do it if I had the details of the plan.

+rep

That is what I like to hear. Then shall we make it the first order of business to establish the mathematical formulas that best resemble the tax plans? Anyone feel free to beat me to it. I'll work on it over the weekend. If it is agreeable to you puppet, you can take the rein on the Rand Paul tax calculator?
 
+rep

That is what I like to hear. Then shall we make it the first order of business to establish the mathematical formulas that best resemble the tax plans? Anyone feel free to beat me to it. I'll work on it over the weekend. If it is agreeable to you puppet, you can take the rein on the Rand Paul tax calculator?

First question, Rand calls for a $50k standard deduction for a family of 4... does this expand out to 12,250 deduction per individual?
 
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Frikken awesome stuff! This idea needs to be sent to Rand's campaign. It will have to work close with them. I don't understand the plan enough to really comment much. I think it is a good idea, this tax calculator. From what I understand FICA would no longer be automatically deducted from an individuals paycheck. This would be a huge draw in showing what weekly/monthly take home would yield. I've never really understood Rand's pay in. It seems that the paycheck income tax is nullified but what then? One yearly payment?
 
Could possibly use this:

http://taxfoundation.org/blog/economic-effects-rand-paul-s-tax-reform-plan

Personal Income Tax and Payroll Tax:



Compare how much you pay now with how much you'll pay under Rand's plan. To figure out your income tax liability under the current system (assuming you don't know it off the top of your head), use this calculator.Separately, take your total wages and multiply by 7.65% (payroll taxes). Add these two numbers together. To figure out your liability under Rand's system, take your total income, subtract the proper deductions/exemptions (see article above for details), and multiply the remainder by 14.5%.

Tell us how much you'll save!

For a general idea of how this will affect people at different income levels:

Single Filer, 1 Exemption, No Dependents, $15,000 wages
Current System = $485 (income tax) +$1147 (payroll tax) = $1632
Rand's System = $0
Savings = $1632(100% cut)

Single Filer, 1 Exemption, No Dependents, $20,000wages
Current System = $1024 (income tax) + $1530 (payroll tax) =$2554
Rand's System = $0
Savings = $2554 (100% cut)

Single Filer, 1 Exemption, No Dependents, $25,000 wages
Current System =$1774 (income tax) + $1912 (payroll tax) = $3686
Rand's System =$725
Savings = $2961 (80% cut)

Single Filer, 1 Exemption, No Dependents, $30,000 wages
Current System = $2524 (income tax) +$2295 (payroll tax) = $4819
Rand's System = $1450
Savings =$3369 (70% cut)

Single Filer, 1 Exemption, No Dependents, $35,000 wages
Current System = $3274 (income tax) + $2677 (payroll tax) = $5951
Rand's System = $2175
Savings = $3776 (63%cut)

Single Filer, 1 Exemption, No Dependents, $40,000wages
Current System = $4024 (income tax) + $3060 (payroll tax) =$7084
Rand's System = $2900
Savings = $4184 (59% cut)

Single Filer, 1 Exemption, No Dependents, $45,000 wages
Current System =$4774 (income tax) + $3442 (payroll tax) = $8216
Rand's System =$3625
Savings = $4591 (56% cut)

Single Filer, 1 Exemption,No Dependents, $50,000 wages
Current System = $5819 (income tax) +$3825 (payroll tax) = $9644
Rand's System = $4350
Savings = $5294 (55% cut)

Single Filer, 1 Exemption, No Dependents,$60,000 wages
Current System = $8319 (income tax) + $4590 (payroll tax) = $12909
Rand's System = $5800
Savings = $7109 (55%cut)

Single Filer, 1 Exemption, No Dependents, $70,000wages
Current System = $10819 (income tax) + $5355 (payroll tax) =$16174
Rand's System = $7250
Savings = $8924 (55% cut)

Single Filer, 1 Exemption, No Dependents, $80,000 wages
Current System =$13319 (income tax) + $6120 (payroll tax) = $19439
Rand's System =$8700
Savings = $10739 (55% cut)

Single Filer, 1 Exemption,No Dependents, $90,000 wages
Current System = $15819 (income tax)+ $6885 (payroll tax) = $22704
Rand's System = $10150
Savings =$12554 (55% cut)

Single Filer, 1 Exemption, No Dependents,$100,000 wages
Current System = $18334 (income tax) + $7650(payroll tax) = $25984
Rand's System = $11600
Savings = $14384(55% cut)

As reflected in the figures above,Rand's plan eliminates the employee portion of payroll tax, but it also eliminates the employer portion.

The plan also eliminates:

1. estate tax
2. gift tax
3. excise tax
4. customs duties

Finally, the existing corporate income tax will be replaced with a 14.5% flat-rate corporate income tax with fewer deductions.

In total, the plan reduces federal taxes by about $300 billion per year.
 
Great idea - it might be better to do monthly savings though instead of weekly, most people budget for the month and think in terms of monthly income/rent/car payments/etc.

Why not have a drop down box where the user can choose weekly, monthly or yearly savings.
 
+rep

That is what I like to hear. Then shall we make it the first order of business to establish the mathematical formulas that best resemble the tax plans? Anyone feel free to beat me to it. I'll work on it over the weekend. If it is agreeable to you puppet, you can take the rein on the Rand Paul tax calculator?
shoot go for it. I will try to get time but 2 young kids and a full time job and a half keep me busy....and then there's the farm....yeah you better take it if you want. I will offer any assistance you need!
 
First things first. Need a design doc that breaks it down into subtasks. I dont do web dev but if I see item 5a is a jsp that takes yearly income in and spits out estimated payroll tax ( or whatever small task ) I can bang that out between things. Might take me a week compared to a pro doing it in 2 hrs but many hands make light work. Trick is to get it divided early.

I have some space, unlimited hdd and bandwidth (cap is on proc use) but as I said this has never been my strong suit so Id need a grown up helping configure it.
 
For a site + possible mobile apps and several people working on it, might be cleaner to have a web-based backend that accepts GET/POST data and returns JSON or XML.
 
Morning bump

Lol thats what I mean cpud... I understand what you wrote and can do whatever subtasks are defined as long as I can reach Google.
What I can't do is write the spec.
 
Great idea - it might be better to do monthly savings though instead of weekly, most people budget for the month and think in terms of monthly income/rent/car payments/etc.

Why not have a drop down box where the user can choose weekly, monthly or yearly savings.


I agree. If whoever programs the logic and design for this part of the program finds that having a drop down box is too difficult though, a monthly period may be better for the reasons dannno mentioned and that the dollar amount will be larger. Or maybe a function which looks at what, first, the users total 12 month tax savings will be, then divides that by 12 to get monthly savings, compares that to a given value (say < $600) and if it is less than $600, it prints the monthly amount, otherwise divide it by 52 and return a weekly amount.


Make it an app

I agree. After I submitted this yesterday I was thinking... I didn't do anything for a mobile app... lol. probably one of the biggest markets. it shows I don't have a cellphone.

shoot go for it. I will try to get time but 2 young kids and a full time job and a half keep me busy....and then there's the farm....yeah you better take it if you want. I will offer any assistance you need!

Family comes first over this way too. :) Any assistance from you and anyone else is much appreciated. I've done a few code academy programming projects, but I'd say I'm a far cry from even an amateur programmer.

First things first. Need a design doc that breaks it down into subtasks. I dont do web dev but if I see item 5a is a jsp that takes yearly income in and spits out estimated payroll tax ( or whatever small task ) I can bang that out between things. Might take me a week compared to a pro doing it in 2 hrs but many hands make light work. Trick is to get it divided early.

I have some space, unlimited hdd and bandwidth (cap is on proc use) but as I said this has never been my strong suit so Id need a grown up helping configure it.

For a site + possible mobile apps and several people working on it, might be cleaner to have a web-based backend that accepts GET/POST data and returns JSON or XML.

lol. This is a foreign language to me. I think could build the functions within this calculator if given enough time... but it would just be stuck in my compiler after I was done. ;) I'm more than willing to read up on what you guys are talking about if help is needed, advice on good resources would be helpful if help is needed. Thank you!




I'm about to print off 1040 ez and instructions and get to work on putting it in some logical order. I really enjoy math but don't find many practical uses in my everyday life, so I am a little excited. I haven't gotten anything done as far as Rand's plan yet.
 
I think this is a great idea. I don't know how it can be implemented. Whether through campaign or grass roots. But this NEEDS to be done. I cannot think of a better marketing tool. Perhaps farm the idea out to one of the PACs?
 
I think this is a great idea. I don't know how it can be implemented. Whether through campaign or grass roots. But this NEEDS to be done. I cannot think of a better marketing tool. Perhaps farm the idea out to one of the PACs?

Agree, this needs to be sent to the campaign.
 
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