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should be national sales tax levied on purchases, thus the individual has complete control of their finances.
I think if that were the case in would be in the 25-30 percent range on every purchase. Maybe it would be less if there were no exceptions such as services, food and medicine.
Your already paying more than that! Remember, whatever your percentage bracket is you are also paying all the income tax costs plus accounting, etc., for every business that brings the product/service to the final destination, which is the consumer. Business does NOT pay tax...that cost is passed down to the end consumer.
I will also clarify that each business that handles whatever product or supplies the service business with necessary supplies to give that service will also add a percentage to the actual cost of the tax to cover office overhead, outside accounting/tax service, legal costs, etc., etc. and will almost always tack on 1 or 2 % for "contingencies."
[quote=lorrysda;15287383]Your already paying more than that!
*1 Persons that work more than ten months of the year outside the U.S. are tax exempt.
*2 Never gonna happen.
The estate tax disappeared for 2010, in one of the final steps of President George W. Bush’s 10-year tax-cut measure. But next year, when the Bush tax cuts expire, the estate tax springs back to life — at its pre-2001 level of 55%.
Wednesday’s amendment to repeal the estate tax was offered by Sen. Jim DeMint (R., S.C.), in the midst of debate on a bill to extend jobless benefits. The amendment failed by a wide margin of 39-59. The vote was almost entirely on party lines, although two Democrats – Sens. Blanche Lincoln of Arkansas and Ben Nelson of Nebraska – joined Republicans in voting “yes.”
You have heiresses like Paris Hilton who get to be lazy asses and don't have to work because their parents or grandparents were hard working.
Of course I support the estate tax. You call it a death tax, I call it the Paris Hilton tax. *shrug*
How about a "wealth death tax"?
Upon death, all assets above $20,000,000 shall be taxed at a rate no less than 45%.
That way the middle class and even the upper middle class are left untouched while those who don't need the money can do their part to help rebuild America's crumbling infrastructure and public schools.
I'm in favor of depriving today's 20 and 30 somethings any inheritance.
That's sick! Inheritance is passing forth family assets to the next generations (most of who somehow have worked to contribute to same or will). It is sick to think anyone else should benefit from anyone's dying.
That wealth is usually tied up in investments which create far better use of same in the private-enterprise system than the government ever will or ever can. Actually, everything the government touches is so screwed up, usually un-constitutional and almost always illegal of late that unless we stop this "spread the wealth" communist/socialist mentality the America we have now will be gone.
I don't believe in the death tax but I do think anyone that receives income has to pay taxes on it. This should be applied to any church, non-profit, charity etc...you get a buck, you pay taxes.
I don't believe in the death tax but I do think anyone that receives income has to pay taxes on it. This should be applied to any church, non-profit, charity etc...you get a buck, you pay taxes.
I do disagree with your last sentence. These entities are dedicated to supporting those needing charity (which by the way should be on a local basis...never, ever Federal, State our County, since only the local area knows most of those needing same and will weed out the cheaters and muchers), support of groups that do community service (example, Lyons Club for eyes) and groups supporting various animal functions such as horse shows, breed organizations and many more that do good.
The people hired to execute needed jobs for some of the above functions pay all the income tax on payment for services and whatever is purchased for fund-raising functions pay sales tax returned to the community and/or State (depending on that State's laws). The good done by these entities far outweighs any income tax they would have to pay if non-profit were not allowed and the service provided would shrink immeasurably.
Actually, I think income tax is terrible and very depressing on the economy. A National sales tax should replace today's income tax and then every single person buying anything would pay tax, including $'s made from selling drugs and other illegal crap we have going on. Illegals would have to pay sales tax on anything they purchase. Think about it. Right now 50% of our population pay absolutely no tax, but a large percentage of that group receives financial aid from government sources, which is paid by that other 50% who pay income tax. This income-tax mess is really upside down and needs to be replaced with sanity.
That's sick! Inheritance is passing forth family assets to the next generations (most of who somehow have worked to contribute to same or will). It is sick to think anyone else should benefit from anyone's dying.
That wealth is usually tied up in investments which create far better use of same in the private-enterprise system than the government ever will or ever can. Actually, everything the government touches is so screwed up, usually un-constitutional and almost always illegal of late that unless we stop this "spread the wealth" communist/socialist mentality the America we have now will be gone.
I'm in favor of keeping the money away from 20 and 30 somethings because they are responsible for electing the Obamination.
They've cost America trillions. Let them eat cake.
Why are some of you okay with the government mentality that OUR money, we earn...they should get a cut if?! Its disgusting
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