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re: what should the tax rate be realistically?
Posted on 10/7/21 at 3:00 pm to Taxing Authority
Posted on 10/7/21 at 3:00 pm to Taxing Authority
As a nation of consumers addicted to material possessions the revenue would skyrocket from a national sales tax and capture the freeloaders currently paying nothing.
Posted on 10/7/21 at 3:01 pm to bdavids09
0% income tax. Large tax on items/things. Consumption based - doesn't hurt the poor, you have full control over the amount you spend therefore control how much tax you pay. Richer people end up paying more because they have the means to consume more.
Posted on 10/7/21 at 3:05 pm to bdavids09
Go FairTax all the way (this plan include repeal of the 16th Amendment).
Last calculations I recall under the FairTax would put it at 23%.
But, your take home pay goes up.
Posted on 10/7/21 at 3:06 pm to bayoudude
quote:
I would rather a flat National sales tax. 12-15% with groceries exempt. I keep my check and pay taxes if I choose to spend it. Also gets rid of allot of irs bloat further reducing gov expenditure. Tyrone the drug dealer is now paying taxes on those sweet rims and skittles paint job. Rich people pay more as they buy more expensive shite.
I'm in favor of a VAT + reduction in federal income taxes and corporation taxes by a significant amount.
Take down the top brackets to 20-25%, get rid of federal income taxes for most tax payers and implement a 10-15% VAT.
Posted on 10/7/21 at 3:08 pm to TigerTatorTots
quote:
Richer people end up paying more because they have the means to consume more.
The wealthy spend less of their income on "items/things" than the middle class/lower class. This version of taxation would be regressive.
I think something like a VAT should be part of a scheme, but it can't be all of it.
Posted on 10/7/21 at 3:08 pm to bdavids09
12% on all income earned over 10k. 3% national sales tax on all things except food. You can deduct charitable giving from earned income, up to 50k. No other deductions or credits.
The federal budget should also be tied directly to revenue. Each year's annual budget should be 1% less than the tax revenue from the prior year. Let congress fight over apportionment of funds within thoss boundaries. I would love for this part to be codified in an amendment, but that's the least likely policy in all of this.
The federal budget should also be tied directly to revenue. Each year's annual budget should be 1% less than the tax revenue from the prior year. Let congress fight over apportionment of funds within thoss boundaries. I would love for this part to be codified in an amendment, but that's the least likely policy in all of this.
Posted on 10/7/21 at 3:14 pm to TrueTiger
quote:
Go FairTax all the way (this plan include repeal of the 16th Amendment).
Last calculations I recall under the FairTax would put it at 23%.
But, your take home pay goes up.
I’m all for it. My last year I worked which was last year, my effective rate was just over 36% and trust me while I’m not going hungry, I don’t own a jet, don’t fly charter and don’t own a yacht. I did work my arse off and retired at 55.
That is why I get so pissed about this bullshite about fair share. 36% doesn’t include, property tax, sales tax etc. To be fair it does include full boat an SS tax as I was deemed self-employed.
Posted on 10/7/21 at 3:17 pm to bdavids09
Depends on how many taxes and what kind you are talking about.
It's not just income tax that kills you. It is the litany of all that crushes you. I bet no one can put a number on the amount of different taxes we pay.
It's not just income tax that kills you. It is the litany of all that crushes you. I bet no one can put a number on the amount of different taxes we pay.
Posted on 10/7/21 at 3:18 pm to David_DJS
quote:
I think something like a VAT should be part of a scheme, but it can't be all of it.
You can offset much of the regression by simply exempting essentials like food and health products. Therefore, only taxing non-essentials.
Posted on 10/7/21 at 3:19 pm to bdavids09
10% flat nobody gets refunded more than they pay.
Posted on 10/7/21 at 3:19 pm to bdavids09
The federal government used to run on Tariffs. Go back to that. The entire budget for the federal government should be under a trillion,, and that should be mostly national defense, border protection, large interstate infrastructure.
Posted on 10/7/21 at 3:23 pm to ksayetiger
quote:
10% income
5% sales
this
Posted on 10/7/21 at 3:24 pm to bdavids09
The fair tax bill, as written in HR 25, needs to be 21 to 23% to be Revenue neutral. That goes along with abolishing the IRS, and repealing the 16th Amendment. All households get an allowance at the beginning of the month, based on family size, of the expected amount of tax to be paid on necessary goods and services to alleviate the tax burden at the poverty line.
Prices at the point-of-sale would be approximately the same, as about 22% of the cost of Any Given item at the cash register are embedded corporate income taxes that are passed along all the way from the manufacturer, through the distribution chain, down to the consumer ultimately pays all of those corporate income taxes
Corporations do not pay income taxes, they merely collect them.
Prices at the point-of-sale would be approximately the same, as about 22% of the cost of Any Given item at the cash register are embedded corporate income taxes that are passed along all the way from the manufacturer, through the distribution chain, down to the consumer ultimately pays all of those corporate income taxes
Corporations do not pay income taxes, they merely collect them.
Posted on 10/7/21 at 3:24 pm to bdavids09
There should be no taxes on income, payroll, or death.
Sales taxes on retail goods, usage/permitting fees, tariffs, and MAYBE property taxes are the only acceptable forms of taxation in my opinion.
Sales taxes on retail goods, usage/permitting fees, tariffs, and MAYBE property taxes are the only acceptable forms of taxation in my opinion.
Posted on 10/7/21 at 3:28 pm to saints5021
quote:
Flat tax on everything purchased ... would capture black market and non-American cash. Less taxes that upstanding citizens need to pay.
Also, if you don't want to pay taxes, live in the woods and buy nothing.
Been saying this forever. Can you imagine all the illegally made or underground economy cash being taxed in purchases? It will never happen tho. Sucks
Posted on 10/7/21 at 3:43 pm to bdavids09
quote:Lower.
what should the tax rate be realistically?
Posted on 10/7/21 at 3:50 pm to Taxing Authority
quote:Where can I sign up for this now?
Say goodbye to SS, Medicare and Medicaid.
Add in:
Foreign aid
Most of the Executive departments: DOJ, DOE, DHS, etc
The UN
Any accords, climate or otherwise (China doesn't accept this handicap)
Where does that get me? 8% flat tax?
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