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re: I'd be interested to hear everyone's opinions of a national sales tax...
Posted on 1/29/23 at 5:52 pm to slaughlin
Posted on 1/29/23 at 5:52 pm to slaughlin
The problem is “replacing a federal income tax”.
They won’t want to do that because a sales taxes is more cyclical, making it harder to steal, er, plan for the long term.
On top of that, seeing the national tax rate reflected on purchases will bring attention to exactly how much the government takes from you. Harder to do that with income thanks to withholding being forced unless you are a 1099 worker.
They won’t want to do that because a sales taxes is more cyclical, making it harder to steal, er, plan for the long term.
On top of that, seeing the national tax rate reflected on purchases will bring attention to exactly how much the government takes from you. Harder to do that with income thanks to withholding being forced unless you are a 1099 worker.
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Posted on 1/29/23 at 6:05 pm to slaughlin
Think about the number of people in the tax industry that would be out of a job.
Posted on 1/29/23 at 6:40 pm to slaughlin
They'd have to get rid of most of their meddling in industries. Hands off auto makers so they'll make something the public wants and ask for.
Income tax gets the around capitalism. If it were a true free market they wouldn't have to worry about revenue using the national sales tax
Income tax gets the around capitalism. If it were a true free market they wouldn't have to worry about revenue using the national sales tax
Posted on 1/29/23 at 6:54 pm to slaughlin
The LEFT will explode.....can't tax the wealthy!
This will not happen, federal income tax is here to stay.
This will not happen, federal income tax is here to stay.
Posted on 1/29/23 at 6:57 pm to slaughlin
quote:
Who would benefit the most? Who would be hurt the most? Overall a good idea or no?
The wealthy. The poor. Sure if you're looking to consolidate more wealth at the top, push down on the poor, and ultimately lose the country to the inevitable revolution.
Posted on 1/29/23 at 7:14 pm to slaughlin
Positives: It would tax the purchases of those people being paid “under the table,” including illegals who have no legal SS#. Also, tax those with so much wealth that they purchase from their wealth without earned income. If it includes the 15% social security and Medicare taxes (employer and employee portion), then the income cap on employment taxes would be eliminated, which is both good and bad. This plus the minimum tax rate, around 15%, would equate to the 30% being discussed.
Negatives: No break for the lower income or those on fixed income who spend a much more significant part of their income on living expenses. A “pre-bate” of say $6,000 to everyone to cover 30% of $20,000 would make sense to aid those.
CPAs loosing jobs…since I am one.
Negatives: No break for the lower income or those on fixed income who spend a much more significant part of their income on living expenses. A “pre-bate” of say $6,000 to everyone to cover 30% of $20,000 would make sense to aid those.
CPAs loosing jobs…since I am one.
Posted on 1/29/23 at 8:00 pm to slaughlin
It would help the middle class , mostly middle class that conserve their money . It would be bad for the rich and people getting payed under the table .
Posted on 1/29/23 at 8:06 pm to TBoy
quote:
Dumbest idea ever a
Generally, you are not thought of as being bright given your posting history. Care to redeem yourself with an explanation... pretty sure you won't
Posted on 1/29/23 at 8:09 pm to tjv305
quote:
It would be bad for the rich
Posted on 1/29/23 at 8:15 pm to RoyalWe
quote:
The Fair Tax proposal has been around for a long time. I would support any politician who campaigns on it. It's an excellent proposal.
You people must be intentionally obtuse. The phrase “fair tax” has been around for a long time but has never meant a 30% sales tax. It used to mean a universal 6% to 9% income tax. Now it means a 30% federal sales tax. You ignorant sheep go along with whatever your tribe says.
Posted on 1/29/23 at 8:19 pm to slaughlin
Won’t happen because it makes sense. You’d actually get to tax all of the illegal money made.
Posted on 1/29/23 at 8:41 pm to slaughlin
Should have a flat rate tax all pay! Tax return would be reconciliation to pay whats due on other income, no deductions. Like 5% and a 3% sales tax on all but food and clothing. And then increase payroll ss tax to save that from bankruptcy.
Also, stop all foreign aid until deficit is paid! America first!
Also, stop all foreign aid until deficit is paid! America first!
Posted on 1/29/23 at 8:49 pm to slaughlin
I'm all for it, but the Feds would never go for it because they'd lose control of tax "revenues."
Posted on 1/29/23 at 8:54 pm to TBoy
Fair tax was first introduced as HR 25 in 1999. And every year since then.
Posted on 1/29/23 at 8:54 pm to TBoy
quote:
There are millions in this country who cannot afford the basic levels of consumption required to live. They can’t be “savers.” This would drive them below survival.
So they are saving under the current system?
quote:
How much do you currently have in your savings account? For nearly a third of average Americans, this number is $100 or less.
LINK
Maybe it’s time to start rewarding saving and not consuming. The people you are worried about will adjust their spending and lifestyles accordingly.
Posted on 1/29/23 at 9:03 pm to slaughlin
It’s the fairest form of taxation
Sad thing is that we’ll probably get a sales tax in addition to the income tax
Sad thing is that we’ll probably get a sales tax in addition to the income tax
Posted on 1/29/23 at 9:08 pm to slaughlin
What would the percentage be?
Posted on 1/29/23 at 10:10 pm to TBoy
quote:It sounds like you're uneducated on this issue, TBoy. I'm referring to Neal Boortz's FairTax proposal.
You people must be intentionally obtuse. The phrase “fair tax” has been around for a long time but has never meant a 30% sales tax. It used to mean a universal 6% to 9% income tax. Now it means a 30% federal sales tax. You ignorant sheep go along with whatever your tribe says.
Neal Boortz Explains the FairTax
Posted on 1/29/23 at 10:12 pm to slaughlin
I would be all for a 5% sales tax but 30%? Thats fricking insane and will kill the middle class. For a good portion of the middle class, that is more than their income tax bracket.
Posted on 1/29/23 at 11:58 pm to Landmass
All other federal taxes would be eliminated. The 23% tax would replace the embedded taxes in all products at this time.
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