Posted by
Message
LSURussian
LSU Fan
Member since Feb 2005
113349 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

Fairtax goes into effect after the 16th is repealed.
There's no way a national VAT would have the low income earners NOT getting some type of guaranteed income to offset their increased point-of-sale taxes.

To pay them that guaranteed income would mean a continuation of some type of income tax or surcharge on the top income earners.

Retail sales would stall, unless you believe higher prices means everyone would continue spending the same amount. That doesn't happen. Ever.

That's just the practicality of it. Anything else is a pipe dream.


Barneyrb
Arkansas Fan
NELA
Member since May 2016
2023 posts

re: Repeal the 16th Amendment and abolish income taxes
I would support either a national sales tax or a flat tax. What I DON'T support is "earned income credit". People receiving EIC are getting assistance all year long and then we give them a lump sum to go blow on tats, rims, and other non-essential items.


Replies (0)
Replies (0)
30
Zach
LSU Fan
Member since May 2005
93470 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

Eveyone should have to write a check


Racist! Some POC do their banking at the Liquor Store (on Friday) and they won't issue checks.


Replies (0)
Replies (0)
20
LSURussian
LSU Fan
Member since Feb 2005
113349 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

If they got rid of their income taxes, and only had vat taxes,
That will happen as soon as we get rid of unicorn farts fueling our levitating transportation devices.....


weagle99
Valparaiso Fan
Member since Nov 2011
29457 posts

re: Repeal the 16th Amendment and abolish income taxes
Everyone gets a prebate check each month to cover the taxes on necessities.

Plus the price change for retail items is a wash due to the elimination of embedded income taxes that we are paying now.

Have you read the plan? All of your concerns are covered on the site I provided.
This post was edited on 4/15 at 12:04 pm


stuntman
LSU Fan
Florida
Member since Jan 2013
5907 posts

re: Repeal the 16th Amendment and abolish income taxes
How did America ever make it for its first 120 years....


LSURussian
LSU Fan
Member since Feb 2005
113349 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

Everyone gets a prebate check each month to cover the taxes on necessities.
Guess who gets the biggest checks? And what's a 'prebate' check? Is that a check in advance of spending?

quote:

Plus the price change for retails items is a wash.
Most large corporations in the U.S. pay single-digit percent effective income tax rates (as Rush would say, "that means less than 10% for those of you from Rio Linda"). A VAT tax would have to be considerably more than that to create a revenue neutral plan.

Thus, those corporations would have their after-tax profit margins negatively impacted if they didn't raise their prices for their goods and services.

Companies like Amazon have a 0% federal income tax rates but the products they sell would have a VAT on them. Their sales would decrease.

A VAT decreases incentives for investing in new technology because that new technology would have a VAT due on it.

In theory, having no income tax but having a VAT would be wonderful and it would likely save me a ton of money in taxes.

But the unintended consequences would cause a terrible shock to our economy.

As Forrest Gump would say, 'that's all I have to say about that....'


jnethe1
LSU Fan
Youngsville
Member since Dec 2012
5243 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
That’s the way it was originally intended..


Replies (0)
Replies (0)
00
LSURussian
LSU Fan
Member since Feb 2005
113349 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

How did America ever make it for its first 120 years....
So, you want our country to go back to the way it was 120 years ago? No strong military? No social services safety net? No federal spending on science research? No, infrastructure spending?

Seriously, whenever I read a cop-out statement that you just made I just have to .


The Baker
This is fine.
Member since Dec 2011
13862 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

Yeah, that wouldn't throw our consumer/retail driven economy into a deep depression at all!

You mean with all the extra cash in everyone’s pocket that will be spent on stuff?


Replies (0)
Replies (0)
22
TD SponsorTD Fan
USA
Member since 2001
Thank you for supporting our sponsors
Advertisement
weagle99
Valparaiso Fan
Member since Nov 2011
29457 posts

re: Repeal the 16th Amendment and abolish income taxes


stuntman
LSU Fan
Florida
Member since Jan 2013
5907 posts

re: Repeal the 16th Amendment and abolish income taxes
How is it a cop out? You basically just saud that only having sales taxes is a total impossibility.

I just showed you it has already happened.

And yes, I would LOVE to not be world police. Roads can be handled at the state level. And we had massive advances in sxience before the fed gov stuck their nose in it.

Oh, and I'm 100% agaimst government "social welfare" programs. They incentivize failure.


Replies (0)
Replies (0)
22
Janky
LSU Fan
Team Primo
Member since Jun 2011
24717 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

No social services safety net?


This one could go.


Replies (0)
Replies (0)
22
ShortyRob
LSU Fan
Member since Oct 2008
65774 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

Repeal the 16th Amendment and abolish income taxes



Check my answer in the "You're dictator for a month" thread!


Replies (0)
Replies (0)
00
yatesdog38
Mississippi St. Fan
in your head rent free
Member since Sep 2013
5402 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
That site is designed for old people that are simple minded and think it is still 1960. The economy has evolved since you were born into a global service based economy.

You must be a sales rep for books supporting the FairTax.


Replies (0)
Replies (0)
31
ShortyRob
LSU Fan
Member since Oct 2008
65774 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

So, you've never been to Europe??

TOTAL taxation in Europe is greater.

But, if my income is $1K greater and my cost of goods goes up $1K, that's a wash(intentionally simple for illustration purposes)


Replies (0)
Replies (0)
02
ShortyRob
LSU Fan
Member since Oct 2008
65774 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

The U.S. economy looks like Shangri-La compared to Europe's economy. But, sure, let's be more like Europe....

Europe is being double whammied

Taxing income is retarded because that is a tax on productivity which, we want MORE of.

Taxing consumption on the other hand encourages savings....which we want more of.......while simultaneously reducing the cost of production!


Replies (0)
Replies (0)
12
ShortyRob
LSU Fan
Member since Oct 2008
65774 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:

Retail sales would stall, unless you believe higher prices means everyone would continue spending the same amount. That doesn't happen. Ever.

Actually, it happens every year and has forever.

It happens because income rises generally speaking with those prices.

No income tax, by definition, puts more $$ into people's pockets.


yatesdog38
Mississippi St. Fan
in your head rent free
Member since Sep 2013
5402 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
what about taxes on investments? If I buy a municipal bond for tax exempt interest i'm gonna be charged 15% on the front end? That's gonna hurt a whole lot of cities and raise the costs of their borrowing which will raise property taxes and state taxes to cover the raise in interest rates.


ShortyRob
LSU Fan
Member since Oct 2008
65774 posts
 Online 

re: Repeal the 16th Amendment and abolish income taxes
quote:


what about taxes on investments?
Nope

quote:

If I buy a municipal bond for tax exempt interest i'm gonna be charged 15% on the front end?
My knee jerk is to say no.

quote:

That's gonna hurt a whole lot of cities and raise the costs of their borrowing which will raise property taxes and state taxes to cover the raise in interest rates

Hmm

I think I need to add banning property taxes.


first pageprev pagePage 2 of 3next pagelast page

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram