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Posted on 3/14/25 at 10:27 am to geoag58
quote:
Fair tax plan for the win.
Fair tax takes the form of a national sales tax. And replaces all payroll taxes, among others.
Prebate paid to every citizen in the country makes the fair tax regressive. Non-citizens not eligible for prebate and will pay the tax to be in USA.
Fair tax is only paid on new items at the retail level.
Every time the government wants to raise taxes every person in the country knows instantly.
Critics say because of the tax taking the form of a sales tax at the retail level that it will encourage a black market. Keep the IRS to go after retailers.
And it's within a percentage point or two of the current portion of retail prices that is made up of embedded corporate income taxes that are baked into the final cost at the register, so the impact needle barely moves when those taxes are replaced with the NRST.
Except, of course, the tiniest of details that you're buying things with your whole paycheck.
Posted on 3/14/25 at 10:29 am to stout
You’re 100% correct, Stout. The number of downvotes points to a bunch of fools and or leeches.
Posted on 3/14/25 at 10:30 am to stout
My guess is the threshold for married would be higher than 150k. Also, if they keep the marginal tax structure then your first 150k as a single filer would be untaxed though I imagine the percentage for any dollar amount above 150k will be higher than it is today or the national debt problem is only going to get much worse.
Posted on 3/14/25 at 10:30 am to LSUFreek
quote:
Thomas Jefferson literally wrote in Article 1 of the Constitution there would be no direct tax upon the people, which lasted for 125 years until 1913's 16th Amendment which legalized the stealth of wealth from ALL of it's citizens under the threat of imprisonment.
The concept of the income tax was so patently offensive to the founding fathers that it took sinking the Titanic, a constitutional amendment, establishing the Federal Reserve as the third US National Bank, AND WWI to convince folks that it would only be temporary.
Posted on 3/14/25 at 10:31 am to Flats
quote:
Holy shite.
You're not kidding. Some of these clowns are showing their arse.
Posted on 3/14/25 at 10:32 am to wallowinit
quote:
That sounds great, but actually I would prefer if there were maybe a 10% flat income tax. That way everyone would have skin in the game especially the over 50% that pay no income taxes currently.
That would require a huge budget cut at only 10%. That also needs to be done. The extra 10% from the lowest level incomes is no where near enough to make up the decrease in tax burden from higher incomes being reduced to 10%. It would probably have to be 20% flat tax to make that work.
Posted on 3/14/25 at 10:33 am to TechBullDawg
quote:So would borrowing another $10 trillion in debt.
But 150k proposal would stimulate the economy
Posted on 3/14/25 at 10:34 am to stout
quote:
Whatever but let's stop unevenly distributing the burden.
quote:
Under that proposal, a childless couple making $150K is way better off than a professional couple with 4 kids making $200K even when accounting for child tax credits
How is this not unevenly distributing the burden? Why shouldn’t a couple who chooses not to have kids have more disposable income than a couple who chooses to have 4 kids? You expecting couples who choose not to have kids to carry your tax burden is no different than the people who expect the rich to carry their tax burden.
Posted on 3/14/25 at 10:34 am to Taxing Authority
quote:
So would borrowing another $10 trillion in debt.
So let's dismantle the "bank" that holds that open-ended credit card that we keep taking cash advances from, yes?
Posted on 3/14/25 at 10:35 am to theballguy
quote:.
EVERYBODY should pay taxes, and that includes people making $10K
quote:LIterally proved his point. Great job!
If it's not my money, why would I care what Washington spends it on?
Posted on 3/14/25 at 10:36 am to VoxDawg
quote:Sure. We can "stimulate" the lumber industry by printing all the dollars. The point is... "it would 'stimulate' the economy" isn't an argument of merit he thinks it is.
So let's dismantle the "bank" that holds that open-ended credit card that we keep taking cash advances from, yes?
Posted on 3/14/25 at 10:38 am to Taxing Authority
quote:
printing all the dollars.
Posted on 3/14/25 at 10:38 am to stout
quote:It's page out of Bernie, Pocahontas, and AOC's playbook. But instead of "tax the rich!" it's cut everyone but "the rich" taxes. Populism class warfare at it's finest!
Trump has lost me on this one.
But the clowns think "it's cutting taxes, so it must be conservative!".
This post was edited on 3/14/25 at 10:39 am
Posted on 3/14/25 at 10:40 am to stout
This is the negative about populism. Its core value is remaining popular with the masses.
Posted on 3/14/25 at 10:40 am to VoxDawg
quote:You're arguing something never said. I'm not suggesting printing more money is a good idea. It's a bad idea, but... it would "stimulate" the economy--which is also a bad idea.
printing all the dollars
Posted on 3/14/25 at 10:42 am to Taxing Authority
The entire fiat currency system is a bad one... except for the folks holding the ledger sheets that the made-up money is added to at predatory interest rates.
Posted on 3/14/25 at 10:42 am to Taxing Authority
He was making fun of you
Posted on 3/14/25 at 10:44 am to stout
Agree. Everyone needs to consider that their own personal taxes might increase whenever they go to the voting booth. Even the lower earners.
Our tax policies have circumvented the cost-benefit analysis and lead to massive entitlement and bloat.
Our tax policies have circumvented the cost-benefit analysis and lead to massive entitlement and bloat.
Posted on 3/14/25 at 10:50 am to wallowinit
quote:Some simple math: LINK
That sounds great, but actually I would prefer if there were maybe a 10% flat income tax.
quote:
In 2022, taxpayers filed 153.8 million tax returns, reported earning nearly $14.8 trillion in adjusted gross income(AGI), and paid $2.1 trillion in individual income taxes.
You'd need a flat rate of 14.3% with today's deficit and no cuts. If you want a balanced budget, you'd need get to 27.3% flat rate.
To have a 10% flat rate with current deficit, you'd need to cut over $1 trillion in spending. Can't do that without touching SS/Medicare. If you want 10% and a balanced budget, you'd need no DOD, no discretionary, and cuts to SS/Medicare.
And all of that presumes we keep current payroll taxes where they are..
This post was edited on 3/14/25 at 10:50 am
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