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re: No income taxes. What would that look like?
Posted on 10/26/24 at 9:23 am to brdogman48
Posted on 10/26/24 at 9:23 am to brdogman48
quote:
legalize marijuana as long as it's produced domestically and place some type of production tax on it.
Or… and here’s a crazy idea. Stop taking money that doesn’t belong to you.
Posted on 10/26/24 at 9:24 am to BCreed1
I suspect it will work as well as the US did pre constitution under the articles of confederation.
Posted on 10/26/24 at 9:25 am to stout
quote:
Several industries would collapse overnight if all taxes were eliminated. Accounting firms,
Why couldn't accounting firms be hired to help folks deal with that extra 20-35% that they earned that is rightfully restored back into their paychecks?
H&R Block and TurboTax can suck a big one.
Posted on 10/26/24 at 9:26 am to themunch
quote:
we would need to replace 2.18 trillion dollars why?
Our national debt grows more than that.
That would 100% be the topic if they were to do this. 2.18 is what the Fed Gov took in income taxes in 2023.
I agree with all of the cut spending and eliminate the bloated agencies.
Posted on 10/26/24 at 9:29 am to VoxDawg
quote:
Why couldn't accounting firms be hired to help folks deal with that extra 20-35% that they earned that is rightfully restored back into their paychecks?
Wouldn't that fall under financial planning firms?
Posted on 10/26/24 at 9:29 am to BCreed1
- cut spending
- increase other consumption taxes
- keep the current income tax in the highest earners (i.e. the “rich” not paying their “fair share”) who already pay the majority of taxes anyway so we’re not losing that rev
this would allow the middle class to explode and thrive in this country
- increase other consumption taxes
- keep the current income tax in the highest earners (i.e. the “rich” not paying their “fair share”) who already pay the majority of taxes anyway so we’re not losing that rev
this would allow the middle class to explode and thrive in this country
Posted on 10/26/24 at 9:30 am to Eighteen
quote:
- keep the current income tax in the highest earners (i.e. the “rich” not paying their “fair share”) who already pay the majority of taxes anyway so we’re not losing that rev
No go sir.
Posted on 10/26/24 at 9:31 am to stout
quote:
Several industries would collapse overnight if all taxes were eliminated. Accounting firms, tax attorneys, etc
Imagine the innovation we could have as a country if these smart people weren’t focused on this mundane bullshite everyday
Posted on 10/26/24 at 9:31 am to BCreed1
Inflation would happen, but the benefits would far outweigh the negatives.
Demand for loans would drop, credit debt would drop, and the American Dream would explode.
Demand for loans would drop, credit debt would drop, and the American Dream would explode.
Posted on 10/26/24 at 9:31 am to oklahogjr
quote:
I suspect it will work as well as the US did pre constitution under the articles of confederation.
Trying to turn the clock back to before 1789 to score points is retarded.
That's ignorant at best and more likely disingenuous and intellectually dishonest, especially coming from you. The income tax wasn't legalized and introduced until the lead-in to WWI. Before that, we had roads, schools and infrastructure appropriate for the day/age.
Reminder - the concept of an income tax was so onerous to the founding fathers and every subsequent generation that it took a constitutional amendment just to LEGALIZE the practice, much less implement it. Pair that shell game with the lion's share of opponents to the Federal Reserve system going down on the Titanic and you have a recipe for the economic sovereignty of the United States being seized by the western European Central banking system.
The Federal Reserve is neither a part of the federal government, nor do they hold anything in reserve
They are essentially a credit card company whose sole cardholder is the United States federal government, who perpetually takes cash advances on a line of credit which has no appreciable limit.
Your money is worth as much as they tell you it is.
Posted on 10/26/24 at 9:32 am to BCreed1
Income taxation is immoral. It needs to be cut out.
But we need to fund government.
We’d have to tax consumption, use tariffs and a few other avenues to raise money
We have 400million people. We need 5 trillion minimum to win this country at current expenses. That could be reduced with clean up of waste and cut programs.
But we need to fund government.
We’d have to tax consumption, use tariffs and a few other avenues to raise money
We have 400million people. We need 5 trillion minimum to win this country at current expenses. That could be reduced with clean up of waste and cut programs.
Posted on 10/26/24 at 9:33 am to Eighteen
[quote]keep the current income tax in the highest earners (i.e. the “rich” not paying their “fair share”) who already pay the majority of taxes anyway so we’re not losing that rev
[/quote
frick. That.
I paid just over $300k in personal income tax last year.
I would let Trump bang my wife if it meant I didn't have to have that money stolen from me.
[/quote
frick. That.
I paid just over $300k in personal income tax last year.
I would let Trump bang my wife if it meant I didn't have to have that money stolen from me.
Posted on 10/26/24 at 9:33 am to stout
quote:
Wouldn't that fall under financial planning firms?
It may in many instances. They're welcome to bring on as many of the former tax accountants and CPAs as they'd like to deal with the tidal wave of new investors.
Posted on 10/26/24 at 9:33 am to GEAUXT
I don’t think the accountant lobby will every let this happen
Posted on 10/26/24 at 9:34 am to BCreed1
It’s right wing utopian magical thinking.
How about the right wing utopians start up a new country somewhere, maybe on an island, and they can test out their fantasies. No taxes, 100% tariffs, and one party rule with no regulations. Should be perfect, right?
How about the right wing utopians start up a new country somewhere, maybe on an island, and they can test out their fantasies. No taxes, 100% tariffs, and one party rule with no regulations. Should be perfect, right?
This post was edited on 10/26/24 at 9:35 am
Posted on 10/26/24 at 9:35 am to VoxDawg
Aside - watching progressive simps white knight for giving a wholly uncreditworthy organization like the US government prima nocte rights to their earnings is the definition of Stockholm Syndrome.
This post was edited on 10/26/24 at 1:24 pm
Posted on 10/26/24 at 9:36 am to GEAUXT
quote:
paid just over $300k in personal income tax last year.
I would let Trump bang my wife if it meant I didn't have to have that money stolen from me.
that’s for bragging dude
we would have to start somewhere and phase it in
keep income tax on the highest 1% of earners to start, then phase those out over time
Posted on 10/26/24 at 9:37 am to SlidellCajun
quote:
We have 400million people. We need 5 trillion minimum to win this country at current expenses. That could be reduced with clean up of waste and cut programs.
We do not take in 5 trillion in income taxes. We take in 2.18 trillion.
Consumer spending is a major driver of the economy, making up around 70% of the American GDP. The (GDP) in 2023 was $27.36 trillion.
what % would need to be added in a consumption tax that EVERY American pays to replace that (and yes I agree with cutting spending)
Posted on 10/26/24 at 9:37 am to Eighteen
quote:
increase other consumption taxes - keep the current income tax in the highest earners (i.e. the “rich” not paying their “fair share”) who already pay the majority of taxes anyway so we’re not losing that rev
No more taxes!
And why should someone who earns more be punished?
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