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Started By
Message
MAGA’s Tariff idea…been wanting a “consumption tax” FOREVER
Posted on 6/15/24 at 8:56 am
Posted on 6/15/24 at 8:56 am
Flat tax on goods and services makes sure EVERYONE pays- RICH AND POOR.
NO MORE “cheating” on income taxes.
NO NEED FOR IRS AUDITS
I know he just floated the idea, but a “consumption” tax is fair.
LFG!!
NO MORE “cheating” on income taxes.
NO NEED FOR IRS AUDITS
I know he just floated the idea, but a “consumption” tax is fair.
LFG!!
16
Posted on 6/15/24 at 8:58 am to Covingtontiger77
This is what Herman Cain wanted to push for when he ran for the GOP nomination in 2012. Instead, Republicans laughed at him and chose Mitt Romney.
Posted on 6/15/24 at 8:59 am to Covingtontiger77
quote:
Flat tax on goods and services makes sure EVERYONE pays- RICH AND POOR.
The rich will celebrate the lower tax rate
The middle and lower classes will be upset at the higher tax rate
quote:
NO MORE “cheating” on income taxes.
NO NEED FOR IRS AUDITS
There will always be a tax authority overseeing the implementation of these taxes.
Posted on 6/15/24 at 8:59 am to Covingtontiger77
Consider me always paranoid but will they eliminate cash and force the use of a digital currency in order to combat people trying to circumvent the consumption tax?
Posted on 6/15/24 at 9:00 am to BigPerm30
quote:
Consider me always paranoid but will they eliminate cash and force the use of a digital currency in order to combat people trying to circumvent the consumption tax?
Very likely.
Posted on 6/15/24 at 9:03 am to SlowFlowPro
quote:
The middle and lower classes will be upset at the higher tax rate
But this is offset by them being ecstatic by not having a frick around with any IRS forms every April, or worrying about IRS agents coming to their door with guns.
Posted on 6/15/24 at 9:04 am to TrueTiger
quote:
But this is offset by them being ecstatic by not having a frick around with any IRS forms every April,
Instead you have to deal with the new consumption tax monitoring office every day
quote:
or worrying about IRS agents coming to their door with guns.
The 3 letters will be different. I agree.
Posted on 6/15/24 at 9:06 am to SlowFlowPro
Dude, it is 9:00 AM and you have over 40 posts today. Get a life.
Posted on 6/15/24 at 9:07 am to SlowFlowPro
quote:
Instead you have to deal with the new consumption tax monitoring office every day
That's a passive non intrusive system.
The taxes built right into the price of whatever I buy IF I choose to buy.
Posted on 6/15/24 at 9:08 am to SlowFlowPro
Fewer blacks have credit cards than other races. Digital currency is racist.
Posted on 6/15/24 at 9:10 am to Covingtontiger77
Income tax accounts for about $2.5T, which roughly 1/2 of the government cash flow....
Can you imagine the economic growth if federal income taxes were eliminated.....would it create inflation? Demand for products would skyrocket......I say it's worth a try.
IMO, it would have to be a gradual process, say over a 5-10 year period.
Something has to change, our system is super antiquated, complex, and cumbersome....and too expensive on many fronts.
Can you imagine the economic growth if federal income taxes were eliminated.....would it create inflation? Demand for products would skyrocket......I say it's worth a try.
IMO, it would have to be a gradual process, say over a 5-10 year period.
Something has to change, our system is super antiquated, complex, and cumbersome....and too expensive on many fronts.
Posted on 6/15/24 at 9:13 am to TrueTiger
quote:
The taxes built right into the price of whatever I buy IF I choose to buy.
At a store? Sure.
Posted on 6/15/24 at 9:14 am to Covingtontiger77
quote:
I know he just floated the idea, but a “consumption” tax is fair.
Tariff =/= fair consumption tax.
Posted on 6/15/24 at 9:14 am to oldskule
quote:
Can you imagine the economic growth if federal income taxes were eliminated.
The new system would have to take the same amount out of the economy or else
quote:
would it create inflation?
This would happen (which is a tax in of itself)
quote:
Demand for products would skyrocket
Demand would skyrocket after a massive increase in prices?
Posted on 6/15/24 at 9:14 am to BigPerm30
quote:
Consider me always paranoid but will they eliminate cash and force the use of a digital currency in order to combat people trying to circumvent the consumption tax?
There is no distinction among taxation systems when it comes to digital currency. They will go for digital currency regardless.
Posted on 6/15/24 at 9:15 am to SlowFlowPro
quote:
At a store?
Well duh, that's where the sale taxes are administered, at the retailer.
Posted on 6/15/24 at 9:16 am to TrueTiger
quote:
Well duh, that's where the sale taxes are administered, at the retailer.
And when I buy something not at a store? Like FB Marketplace?
Or when I buy a house?
This post was edited on 6/15/24 at 9:17 am
Posted on 6/15/24 at 9:18 am to Covingtontiger77
Remember Neal Boortz’s “Fair Tax” book?
Who did he co write that book with?
EDIT
It was John Linder.
The FairTax Book is a non-fiction book by libertarian radio talk show host Neal Boortz and Congressman John Linder, published on August 2, 2005, as a tool to increase public support and understanding for the FairTax plan.
Who did he co write that book with?
EDIT
It was John Linder.
The FairTax Book is a non-fiction book by libertarian radio talk show host Neal Boortz and Congressman John Linder, published on August 2, 2005, as a tool to increase public support and understanding for the FairTax plan.
This post was edited on 6/15/24 at 9:21 am
Posted on 6/15/24 at 9:19 am to SlowFlowPro
quote:
And when I buy something not at a store? Like FB Marketplace?
Or when I buy a house?
Well, if those are electronic payments then they will be taxed just like they added the sales tax to any other online purchases.
Houses: seriously, you can’t figure this out? There will be a set percentage of tax based on sales price that will be collected at closing.
Really not that hard to understand.
Posted on 6/15/24 at 9:21 am to Covingtontiger77
quote:
Well, if those are electronic payments then they will be taxed just like they added the sales tax to any other online purchases.
And what if they're not electronic payments?
quote:
Houses: seriously, you can’t figure this out? There will be a set percentage of tax based on sales price that will be collected at closing.
Oh, you aren't paying attention. We are discussing the monitoring agency for these transactions that will be implemented.
quote:
Instead you have to deal with the new consumption tax monitoring office every day
As a replacement for the IRS.
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