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I am all for it. It would discourage consumption and accelerate growth by increasing the savings rate.
Getting rid of the fed, its fiat currency and having a market based interest rate will do that. Your way is a recipe for lower standard of livings for us while Caesar continues to thrive and spend
Getting rid of the fed, elimination of an income tax, taxes et al. is never going to happen until the US imperial govt collapses and then there wont be a choice.
Getting rid of the fed, its fiat currency and having a market based interest rate will do that. Your way is a recipe for lower standard of livings for us while Caesar continues to thrive and spend
Getting rid of the fed, elimination of an income tax, taxes et al. is never going to happen until the US imperial govt collapses and then there wont be a choice.
You can thank Nixon for that... Yeah FDR forced people.to turn in gold for USD in 1933, but that was in.the middle of the Great Depression...That said, after reading up on the history, we did fine without it. The Gold Standard really only worked in the Pre-World War 1 era. After that, due to war debts and the Great Depression, it failed and most countries totally got away from it. The US did but they didn't until Nixon... https://www.investopedia.com/ask/ans...d-standard.asp
Whatever messed-up tax system we go with, it's more of a symptom than the root problem. You would see just as much, if not more, abuse from a sales tax as from an income tax. Now the IRS can focus on a tiny minority, namely owners of retail business, and run roughshod as much as they wish.
The vast majority of Americans would not be at risk and therefore would care little. At least until they go to their favorite store and find the doors locked because the IRS has put the owners in prison.
Whatever messed-up tax system we go with, it's more of a symptom than the root problem. You would see just as much, if not more, abuse from a sales tax as from an income tax. Now the IRS can focus on a tiny minority, namely owners of retail business, and run roughshod as much as they wish.
The vast majority of Americans would not be at risk and therefore would care little. At least until they go to their favorite store and find the doors locked because the IRS has put the owners in prison.
Yep. Any Fair Tax believer don't have much to say when you say we will see a vast decrease in tax lawyers, tax accountants and preparers or that the IRS won't be eliminated, simply that they would be drastically reduced and any economic impact that might come from that. Or as seen earlier, the economic impact from "encouraging savings." The Fair Tax quite frankly is a thinly veiled gift to the rich and a way to crash the economy.
You can thank Nixon for that... Yeah FDR forced people.to turn in gold for USD in 1933, but that was in.the middle of the Great Depression...That said, after reading up on the history, we did fine without it. The Gold Standard really only worked in the Pre-World War 1 era. After that, due to war debts and the Great Depression, it failed and most countries totally got away from it. The US did but they didn't until Nixon... https://www.investopedia.com/ask/ans...d-standard.asp
Woodrow Wilson is more to blame than anyone...by far.
Yep. Any Fair Tax believer don't have much to say when you say we will see a vast decrease in tax lawyers, tax accountants and preparers or that the IRS won't be eliminated, simply that they would be drastically reduced and any economic impact that might come from that. Or as seen earlier, the economic impact from "encouraging savings." The Fair Tax quite frankly is a thinly veiled gift to the rich and a way to crash the economy.
I understand that you are against it...but it actually is better for the lower/middleclass, and a system that wont have so much unreported
currently we have a lot of unreported income, that never gets counted, never gets taxed.....economists dicker back and forth on if it is as little as 17% (about 3.5 trillion of unreported income) or as high as 51% (10.7 trillion worth of unreported income)
at the 51% (10.7 trillion worth of unreported income) that is 1.6 trillion worth of income tax not going into the federal coffers, 1.3 trillion not going to SS, and about 100 billion not going to medicare…. that is about 3 trillion of revenue never seen by the government
with the fair tax...there is no unreported income...because your purchases are taxed at the point of sale
i'd like to eliminate property taxes as well, because you never really own your property, you are just leasing it from the government. And, it's sad to see when people decide to remodel their homes, the taxes go so high they have a hard time paying them. I have also seen developers who are after a certain piece of land pay off politicians to raise taxes so high that the residents have no choice but to move out.
The framers couldn't decide if a strong federal government was a good or bad thing.
Yet all one has to do is read what they wrote to understand they thought it was a bad idea. You do remember the Revolutionary War don't you? You know the fight against British tyranny?
Quote:
Originally Posted by mkpunk
Stop posting comments that you know aren't true even if it supports your claim. The question of course of how strong of federal government Adams and Hamilton actually wanted.
lmao Of course they wanted a weak Federal government and the power to be in the hands of the people. That is obvious from the Federalist papers and specifically what was written in the Constitution. Enumerated powers has meaning.
The Constitution was written and ratified to both authorize and limit the government created through it. It was designed to do the latter through the doctrine of enumerated powers. Article I, section 8, grants the Congress only 18 powers.
Stop with the buffoonery.
Last edited by Loveshiscountry; 09-08-2019 at 12:20 AM..
You can thank Nixon for that... Yeah FDR forced people.to turn in gold for USD in 1933, but that was in.the middle of the Great Depression...
And? So? Why does it matter that it happened during the Great Depression? Because you thought it somehow matters? lol
Quote:
Originally Posted by mkpunk
That said, after reading up on the history, we did fine without it. The Gold Standard really only worked in the Pre-World War 1 era. After that, due to war debts and the Great Depression, it failed and most countries totally got away from it. The US did but they didn't until Nixon... https://www.investopedia.com/ask/ans...d-standard.asp
It failed because your progressive buddy FDR was horrific when it came to the economy. Anyone who studies history and cares about the truth can see how bad the economy was the entire time FDR was in office.
He set the price of gold before he stole it. It didn't work because of FDRs theft and manipulation. And anyone who has studied our economic history, which you haven't, fully understands when government gets involved in the economy, things get worse.
And? So? Why does it matter that it happened during the Great Depression? Because you thought it somehow matters? lol
It failed because your progressive buddy FDR was horrific when it came to the economy. Anyone who studies history and cares about the truth can see how bad the economy was the entire time FDR was in office.
He set the price of gold before he stole it. It didn't work because of FDRs theft and manipulation. And anyone who has studied our economic history, which you haven't, fully understands when government gets involved in the economy, things get worse.
And what about the UK or France? Both took themselves off the gold standard as well.
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