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re: Spent a week in Boston, sales tax was a surprise!
Posted on 8/11/14 at 10:32 am to Aubie Spr96
Posted on 8/11/14 at 10:32 am to Aubie Spr96
quote:
Penalizes the spenders and reward the savers.
Are you saying you want to pay a 23% sales tax when you purchase a home or car? I know I don't
I much prefer a "flat" tax over a "fair" tax.
2
Posted on 8/11/14 at 10:34 am to BACONisMEATcandy
Yeah, folks wanting consumption taxes are dumb as shite.
Posted on 8/11/14 at 10:35 am to BACONisMEATcandy
quote:
Are you saying you want to pay a 23% sales tax when you purchase a home or car?
the way taxes are set up now, the rich already pay a lot more than the poor, so if its switched wholly to sales tax, the outcome would be similar
you just also get to account for the black market money or whatever someone called it earlier
i don't think it would be anywhere near 23% or anything like that
also, didn't jindal try something to this effect last year and said that state tax may not even have to go up based on his plan?
i remember something about it, but not the details
Posted on 8/11/14 at 10:49 am to Jcorye1
quote:
Not that I would know anything about this, but you should be claiming that on your taxes and paying a consumer use tax
Technically yes. I have yet to meet anyone that does it.
Posted on 8/11/14 at 11:26 am to Croacka
quote:
i don't think it would be anywhere near 23% or anything like that
Well you'd be wrong.
quote:
Under the Fair Tax, every time you pay for new goods or services, you would pay 23 percent tax. That is, for every dollar you spend, you'd pay 23 cents tax.
Why 23%? That is the lowest current income tax bracket of 15%, plus 8% employee payroll taxes. Both of those taxes would be wiped out, along with the Internal Revenue Service.
LINK
Posted on 8/11/14 at 11:27 am to MSTiger33
Last year in LA:
$2.627 billion collected in sales tax at 4%
$2.611 billion collected in income taxes
Get rid of income taxes and make sales tax 8%
$2.627 billion collected in sales tax at 4%
$2.611 billion collected in income taxes
Get rid of income taxes and make sales tax 8%
Posted on 8/11/14 at 11:34 am to BACONisMEATcandy
Posted on 8/11/14 at 11:35 am to Isabelle
There's no state sales tax on food in Louisiana either.
And they pay about 5x what we do in property taxes.
And they pay about 5x what we do in property taxes.
Posted on 8/11/14 at 11:37 am to Golfer
Tennessee has no income tax, just sales/property taxes. I like it just fine.
Posted on 8/11/14 at 11:44 am to Isabelle
In many progressive cities they do not have a sales tax because they have... a progressive system.
Things are taxed according to their value and what they cost the city. Things like food, cheap clothing, etc. do not cost the city much in terms of management.
Things like $10,000 suits, alcohol, cigarettes do cost the city in terms of management. Alcohol and cigarettes is obvious, but so is the $10,000 suit when you realize that store is taking up incredibly scarce land at the same time it bars 95% of the residents from being able to afford a purchase.
And the craziest thing about all of that is the cities are better, offer better services, and there's even way more rich people. Time for you southerners to make the connection.
Things are taxed according to their value and what they cost the city. Things like food, cheap clothing, etc. do not cost the city much in terms of management.
Things like $10,000 suits, alcohol, cigarettes do cost the city in terms of management. Alcohol and cigarettes is obvious, but so is the $10,000 suit when you realize that store is taking up incredibly scarce land at the same time it bars 95% of the residents from being able to afford a purchase.
And the craziest thing about all of that is the cities are better, offer better services, and there's even way more rich people. Time for you southerners to make the connection.
Posted on 8/11/14 at 11:46 am to recruitnik
quote:
And the craziest thing about all of that is the cities are better, offer better services, and there's even way more rich people. Time for you southerners to make the connection.
You do realize the effective tax rates in these "progressive" cities is much higher than their peers in the south, right?
Posted on 8/11/14 at 11:59 am to BabyTac
Tennessee zero income tax, but over 9% sales tax, hurts
Posted on 8/11/14 at 12:01 pm to haveagreatday
Dam Guide, Chattanooga is a killer little hip city, only thing good over here in Knoxville area is the outdoors
Posted on 8/11/14 at 12:06 pm to haveagreatday
quote:
Dam Guide, Chattanooga is a killer little hip city, only thing good over here in Knoxville area is the outdoors
I don't like Chattanooga, about the only thing that I really enjoy is the gigabit internet. Not a fan of the government or how the city is planned. If I could have my same job in Knoxville, I would be moving back in a second. I enjoy the surrounding area of Knoxville so much more than Chatty. I am not a city person though.
Posted on 8/11/14 at 12:37 pm to haveagreatday
The additional burden on businesses from collecting a sales tax is often overlooked. I'm a CPA and for your average small business collected and paying in sales tax is a never ending pain in the arse. Part of these "consumption" tax discussions is making just about everything sales taxable. Everyone offering a service would have to start charging sales tax.
Consumers do not know or care about the difference between what you are receiving for your goods or service and the sales tax on it. The fact is it would end up making everything look more expensive, causing small businesses to have to eat some portion of the sales tax percentage by lowering their prices.
Consumers do not know or care about the difference between what you are receiving for your goods or service and the sales tax on it. The fact is it would end up making everything look more expensive, causing small businesses to have to eat some portion of the sales tax percentage by lowering their prices.
Posted on 8/11/14 at 12:46 pm to Tenforty1728
quote:
Consumers do not know or care about the difference between what you are receiving for your goods or service and the sales tax on it. The fact is it would end up making everything look more expensive, causing small businesses to have to eat some portion of the sales tax percentage by lowering their prices.
Yet again, not that I would know anything about this, but there are some very odd taxation rules in regards to sales/use tax.
Posted on 8/11/14 at 12:49 pm to Isabelle
Yep sales tax is awesome here. Don't worry, you pay for it in property tax.
Posted on 8/11/14 at 2:02 pm to AbitaFan08
If you did pay sales tax but had a Louisiana level property tax rate, how would that compare?
Posted on 8/11/14 at 2:05 pm to Isabelle
It all evens out in the wash. The cost of living here is higher, property tax and income tax is higher, but salaries are much higher and sales tax is lower. Living on 80k/year here is about the same as living on 55k/ year back home.
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