What is a "Fair Share" of taxes? (Congress, weapons, carry)
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Get taxed on what you buy not what you make the fair tax
That's not fair because people with low incomes often must pay MORE for stuff than people with higher incomes, also because some favored classes would get to consume without paying tax.
Look if your idea of fair taxation is to tax the vast majority of what the poor buy and sell, but not the rich then you're not discussing fair taxation, you're describing a favorite method of taxation that hits the poor and middle class but not the rich.
A poor person wont fly to England to buy a watch, a Rich guy will fly to England, and buy a 500K watch...and not pay taxes.
A poor person buys his canoe at the local shop, a rich person goes to germany to buy his yacht.
etc etc
Your idea only works for those whose purchases arent worth the money for a flight overseas.
What do the rich buy? Investments.....
And you're going to compare putting your money into a savings account.....to purchasing shares ina company? Theyre NOT the same thing...but thats your argument?
My idea of fair is not to tax anyone's investments.
Investments are a risk, there is no guarantee of a return. So keeping them tax free or at least minimally taxed is an incentive to those risking the money to be more willing to take that risk. Investments help spur the economy and keeping them relatively tax free helps everyone, not just the rich.
For instance, what do you think would happen to the availability and costs of small business loans if the provider of these loans had to pay higher taxes on the returns?
What would your share be if we had to pay off our Natianl debt?
The 1% would be saying the same of you.
Would you say some people's share of the national debt is a positive surplus of money? If they make a profit off of the federal income tax...isn't that the same thing...pay nothing in, get money back.
Quote:
Originally Posted by FloridaPirate355
The tax problem can be solved easily.
1-Throw away both the federal and state income tax.
2-Throw away the property tax.
3-Implement a sales/consumption tax of 10% on all goods and services (with food, medicine etc... Obviously being tax exempt). 5% of all tax revenue goes to the local state, the remaining 5% goes to the Federal Government.
4-The Government adheres to a strict budget. It is not allowed to borrow or spend more than it makes.
5- Watch the economy flourish.
Also under this system everyone would pay their fair share, especially the wealthy because there would no longer be loopholes for them to exploit with their income taxes.
I agree and you can even make the consumption tax progressive.
Should be a flat tax across the board. However, give some kind of incentives for multi-millionaires and billionaires to give to those who are struggling. I'm not sure what that incentive would be.
I'm not in favor of higher taxes for the rich. If you've made it to the top financially, you shouldn't be punished for it, you should enjoy it.
Maybe a solution is higher sales taxes for certain products that only the rich purchase; like 30%.
That's not fair because people with low incomes often must pay MORE for stuff than people with higher incomes, also because some favored classes would get to consume without paying tax.
You can make a consumption tax progressive.
Just hypothetical examples:
#1 All families get a monthly payment based on their composition. The payment would be set so those in and near poverty would equal their estimated consumption tax.
#2 Cars above $50K face a higher consumption tax rate. Homes above $400K face a higher consumption tax rate.
That's not fair because people with low incomes often must pay MORE for stuff than people with higher incomes, also because some favored classes would get to consume without paying tax.
Quote:
Originally Posted by Phil P
Sales tax has the same effect as income tax, except it gets regressive at higher amounts.
Always a hoot to watch people arguing this when they have no idea what they mean by "fair".
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