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Old 08-22-2017, 09:39 AM
1,033 posts, read 561,875 times
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Within the thread, "Replacing reduced FICA payroll tax rates with a federal general sales tax" I advocate reducing the FICA payroll tax revenue by 9% and replacing it with a 4.5% general sales tax to increase tax revenues for Social Security retirement and Medicare. Thereafter, FICA would no longer fund Medicare and FICA total rates funding Social Security retirement should never exceed twice the federal general sales taxís effective rate.

[quote=Supposn;49261779]LowExpectations, within post #8 I expressed some of my opinions regarding waivers of general sales taxes.

Iím an advocate of waiving sales taxes upon medicines, or food other than that supplied by restaurants, or caterers.
itís difficult to draft legislation the parses ordinary and luxury priced products. For that reason, Iím advocate of fewer such sales tax waivers upon classes of products. But the political reality is that there will be more than I prefer.

Iím aware to the extent that general sales taxes are waived upon sales of products that are more often or in greater quantities consumed by lower income persons, we can to some limited extent transform a sales tax to be effectively more progressive.
But itís difficult to draft regulatory provisions for such products as not to unduly reduce tax revenues.
Travel within reasonable commuting distances on mass transportation is one of the service products that I would prefer to be waived if the legal drafting did not also allow waivers for longer distances or more luxurious transportation.

Difficulty of legal drafting is much less problematic for products or services that can be linked to individualsí primary residences. Itís feasible to waive a capped amount upon rents, specific utilities, and other services linked to such residences; those capped amounts should be annually cost-of-living adjusted.[/QUOTE
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