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I personally think we should eliminate all income taxes and instead reinstitute prtective tariffs to pay for everything.
thats an even worse idea than the one the op linked to. the best way is to eliminate income taxes at all levels, and go to a consumption tax. that way everyone pays their fair share.
thats an even worse idea than the one the op linked to. the best way is to eliminate income taxes at all levels, and go to a consumption tax. that way everyone pays their fair share.
Yes however, when would the tax be collected??
Would tax be collected at every step of production???
Would tax be collected at every step of production???
that would depend on the tax rate imposed. make it small enough and tons of money will roll into the federal coffers, and the burden will remain fairly small on the consumers.
if say a rate of 2% was levied at all levels of production, it would translate into lower overall taxes being paid by the individual, but again lots of money to the government.
I have a hard time believing such a tax would be able to tax enough to get the money needed.
Maybe if it went to 5%, as the article lists, but then thats more taxes than I'm paying now.
No thanks. Flat tax, everyone benefits from the government in the same percentage, we should all have the exact same percentage tax rate. Upper, lower, and middle classes should all pay the exact same tax rate. You could still disengage the IRS, because the tax code would be significantly smaller.
"You make x dollars? x percent of those dollars are needed to run the government duly elected by the population" x could be anything from 1 to 1,000,000.
It smells too much like the Value Added Tax. A tourist back from Europe wondered why he got charged VAT on his rental car, how could he be adding value by driving it 700 km?
Great idea but will never see the light of a day because our so called leaders use the tax code as a political football.They also use it as a weapon of division, you have one camp of tax cutters and the other camp as tax raisers.Lets also recall that the progressive tax code is one of the tenets in Marx's manifesto,funny how two parties that supposedly have different ideology both embrace it.
Then our Friends on the left that claim to be champions of equality throw it out the window and want discrimination against others with a fatter wallet.I think there is a word for that it begins with a H.I agree with the 10% with no write off and what ever the amount of total receipts our gvt should limit spending on that restraint.
You are correct about that. And lets not forget that we still pay all kinds of taxes not mentioned, on top of all federal taxes. For example, we all pay State property taxes, sale tax, federal/state/city fuel taxes, communication taxes, sports items taxes (firearms, sports equipment, and so forth), and everything under the sun taxes. In general, working Americans pay over 40% in taxes already!
It is very simple - every electronic transaction will be taxed - checks, ATM, credit card ( if you pay greenback cash - no tax) The amount would be less than 1%! In addition there would be no exceptions. That means, churches, non-profits ect would pay. But remember the % is so low it will hardly be noticeable. And keep in mind - this replaces all other taxes!
Think of it, no tax forms to fill out, no need to keep receipts for tax credits.
Take a peek here and see the silly things that OUR
money is being spent on
Eric Cantor || Republican Whip || YouCut (http://republicanwhip.house.gov/YouCut/ - broken link)
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