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UNFAIR FAIR TAX
Remember, there is no such thing as a fair "Fair tax”. And the national retail sales tax on consumption is an unconstitutional excise tax that extends into states. Remember, government instituted to secure rights cannot tax rights - only privileges. WHAT FEDERAL PRIVILEGE ARE YOU EXERCISING WHEN YOU BUY AT RETAIL?
No taxpert here, thus I never understood that whole tax jungle.
Why are there so many kinds of taxes in the first place? At the end of the day they are all just ways of giving money to the government. Paying VAT on a product or service for instance is a kind of punishment for buying something. Now, if you don't spend your money and just sit on it like in a bank account you are only feeding the banks and hurting the economy. Still, I don't think there are taxes on savings in bank accounts. I don't pay any taxes on my thousands of Euros in my bank account.
Here we go again, the old absolute vs relative thingy...
I am all for progressive taxation, I think there should not even be brackets, but one formula, with which everyone can calculate exactly how much they have to pay, a separate bracket for every taxpayer so to speak. Brackets are much to coarse to be fair.
I think wealthy people should also pay more for the same product than poorer people. Some shops in India do that, they charge foreigners higher prices than Indians, assuming foreigners have much more money than the average Indian.
Unfortunately there is no way to enforce such a policy without abuse. Wealthy people would simply pay poorer people to do the shopping for them
How would many of the developments that funded our advancement into a superpower been achieved on the severely reduced tax revenue of a national sales tax, VAT, or flat tax?
You adjust your sales tax so it meets your revenue goal and one thing I most certainly want to see is it listed on the invoice. This shouldn't be a new tax but a replacement tax and you eliminate this tax for business because as the consumer this only gets passed onto you anyway. These taxes are then fully exposed to the consumer instead of hidden in the price of the product, if they are paying $200 for a TV now and the cost of that TV is going to be $120 plus $80 tax you're going to open a lot of eyes to how much they are really paying in tax. .
I am all for progressive taxation, I think there should not even be brackets, but one formula, with which everyone can calculate exactly how much they have to pay, a separate bracket for every taxpayer so to speak. Brackets are much to coarse to be fair.
If I recall correctly it was you that listed what they though was a "fair" progressive tax and I showed you would be making only a little bit more between $250K and $500K. That's the issue with a progressive tax, you penalize success. The incentive to make more money is increasingly less desirable, if I own a business why do I want to invest more time in effort into it if the government is going to take most of it? There is little incentive for me to expand my business and do things like hire more people.
If I recall correctly it was you that listed what they though was a "fair" progressive tax and I showed you would be making only a little bit more between $250K and $500K. That's the issue with a progressive tax, you penalize success. The incentive to make more money is increasingly less desirable, if I own a business why do I want to invest more time in effort into it if the government is going to take most of it? There is little incentive for me to expand my business and do things like hire more people.
Well, I am not a capitalist, money was never an incentive or source of motivation for me. I give my best when I like doing what I do, when I do something meaningful, etc.
So, say I make a good product that a lot of people like and demand and thus I earn a lot. I would expand and hire anyway, regardless whether I paid 30 or 50% in taxes. As long as can lead a decent middle-class life, who cares about the excess money?!
Each household would pay a tax of 23% on every thing they buy. Of course, that sounds horrible until you know something about the plan. Each household would get a monthly probate amounting to the amount that has been determined necessary for them to live on. They would also get a probate monthly based on what it takes for the average family to buy housing, clothing, medical care, and other necessities. Now I am sure that many families would get more in those rebates (probates because they come a month early so it is a rebate ahead of time) than they have in money to pay taxes on.
I'm not sure what the best way to do this is but I think you eliminate or curtail the tax on the necessities of life; heat, power, clothing and food. Set a threshold for average expenditures per household*occupants and refund those taxes. Refunding becomes a PITA but I don't see how else you would do it.
Well, I am not a capitalist, money was never an incentive or source of motivation for me. I give my best when I like doing what I do, when I do something meaningful, etc.
So, say I make a good product that a lot of people like and demand and thus I earn a lot. I would expand and hire anyway, regardless whether I paid 30 or 50% in taxes. As long as can lead a decent middle-class life, who cares about the excess money?!
It's not the money necessarily but the work required to make that money, if there is very little return why bother? In the business I was in if we considered just working average days that was 60% of my revenue, for 9 months it was average days. Average for me was M-F, 10 hours each day.
There was a 3 month period where the additional 40% came from and I'm going to describe that time for you. I'd wake up about 4AM. I'd do all my accounting from the previous days receipts, get the deposit ready, write out that days invoices. I'd be out the door by 5:30-6. I'd stop at the bank on the way and be in my truck by 6:30 watching the sun come up. I could only get product until 4PM so I'd set a long delivery for that time. I'd usually be parking the truck between 6 and 8 PM. Then it was home......... where I would spend another 1 to 2 hours on the phone each night. I be done and in bed by 11 or 12 only to have to get up and do it again the next morning. I'd do that Monday to Saturday and a half day Sunday, as long as nothing needed fixing on the truck which was rare I'd get a break on Sunday Afternoon.
If you ask any small business if they have similar experiences they are going to tell you the same thing. Why does anybody have any ncentive to work like that if the government is going to be taking increasingly larger piece of the pie?
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