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I was just listening to a forum put on by the BBC World Radio on NPR, which included panel members from Arizona, where I live. Some of the questions asked were:
1. Should there be a flat tax rate?
2. Are we helping the poor too much?
3. Should taxation be related to spending? (spend more=pay more taxes)
I agree. That makes the most sense to me too. If people want to pay fewer taxes, they would buy less, use fewer services. But then, would there have to be taxes on public works, like freeways in the form of tolls?
I'm not sure a spending tax would suffice to pay the country's bills unless the tax was jacked so high that it really hurt the poor.
Here's my thinking, a rich person, say Bill Gates has most of his money in business and I would imagine a big chunk in savings. Currently, he pays taxes on the things he's creating (business') and he also pays taxes on a percentage of what he makes in savings.
Spending tax starts. He no longer pays taxes on the money he has in savings. But he's still paying on the business aspect. So his first choice is to pull money out of the business' and put it into savings. He will save "Millions". The same Millions that the country can't use to pay it's bills.
And. the working poor are going to be paying more then what they are now. Making the situation much worse then what it is.
I think, the tax structure we have right now isn't too bad. We can make it work if we smooth out the ruffles a little.
And by the way. We are not helping the poor too much. We are, however, helping the deadbeats too much.
With a spending tax, it's really only on consumer goods, not necessities. The poor do not spend that much on consumer goods and would therefore not be taxed very much if at all. They could also decide if they wanted to spend and incur the tax instead of having it imposed on them. Gates would pay on things that he buys which would be a significant amount. This would include homes, boats, cars etc. These items are now used to deduct from what he pays. Tourists, illegal aliens etc. would all pay.
With a spending tax, it's really only on consumer goods, not necessities. The poor do not spend that much on consumer goods and would therefore not be taxed very much if at all. They could also decide if they wanted to spend and incur the tax instead of having it imposed on them. Gates would pay on things that he buys which would be a significant amount. This would include homes, boats, cars etc. These items are now used to deduct from what he pays. Tourists, illegal aliens etc. would all pay.
The only thing that isn't taxed around here is grocery's. But in some places, you pay sales tax on that also.
But your probably right. I don't know any poor people that have TV's, VCR's, Cars, kids toys, clothes, washer's and dryers, furniture, bedding, dishes, garden tools, bikes, shoes, school supplies, curtains, silverware, plates, etc...
The only thing that isn't taxed around here is grocery's. But in some places, you pay sales tax on that also.
But your probably right. I don't know any poor people that have TV's, VCR's, Cars, kids toys, clothes, washer's and dryers, furniture, bedding, dishes, garden tools, bikes, shoes, school supplies, curtains, silverware, plates, etc...
The Fair Tax accounts for items that are necessary and gives a rebate on those. If poor people decide to buy tv's and vcr's then they make the decision to pay the tax on it.
What I'm saying is that poor people can currently, squeak by and have some luxury's. TV, VCR or DVD player. Garden tools, shoes and such, are not a luxury.
But right now, they can get some. With a consumer tax, we're even going to take that away from them. Or, at least make it harder yet for them.
I was just listening to a forum put on by the BBC World Radio on NPR, which included panel members from Arizona, where I live. Some of the questions asked were:
1. Should there be a flat tax rate?
2. Are we helping the poor too much?
3. Should taxation be related to spending? (spend more=pay more taxes)
What do you think?
FairTax.org!!!
Eliminate income taxes as much as possible, specially for people making under $500,000/year. That wouldn't cripple the economy and would free up some real cash.
I don't make that much (legal staff worker) and I feel OVERWHELMED by taxes. Ihatetaxes.com --> not a real website, but I should make one!
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