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"Taxes
Today’s federal tax code does all the wrong things. It penalizes productivity, savings and investment, while rewarding inefficiency and designating winners and losers according to political whim."
Very true.
Interesing tax ideas. The more you buy, the more tax you pay, this would encourage savings.
Yes, it will not likely pass the Congress....but here we are again: Congress bought by billionaires.
Supporters of a flat tax believe that the only fair income tax would apply an equal percentage to all taxpayers.
Specifically, many supporters advocate a rate of 17 percent. In other words, if one person earned $50,000 a year and another earned $300,000 a year, both would pay 17 percent of their income to the federal government. Although flat tax plans do away with most of the exemptions, loopholes and deductions that result in much of the complexity of the current system.
Yeah, you see how that works?
The person making $50,000 will pay $8,500 in taxes.
The person making $300,000 will pay $51,000 in taxes.
Yes, some people have such wretched math skills that they don't realize the person making $50,000 is paying six times less in taxes than the person making $300,000. They actually believe $8,500 is more money than $51,000.
That is exactly what Wall Street is demanding by insisting the interest rates remain artificially low.
When will they learn?
I have to wonder if those who want the interest rates to stay low realize this not only hurts the rich but kills the middle class. The only advantage is buying a home. For those trying to make a buck or so on their savings, CDs whatever; OMG, we are making nothing, but we are paying more for food, gas, utilities, and taxes. This is the same with any credit card debt or interest we pay on anything. Keeping the rates low is what is killing the middle class. the only thing we can invest in is the shaky stock market.
Like everything this clown proposes, it's reckless and deceptive.
Replacing the income tax with a purchase tax is just a switcheroo.
98% of Americans buy things all the time. This is 6 of 1, half dozen of the other,
no difference, except the society is more at risk due to the less steady and
less predictable method of purchasing, which is subject to unpredictability
and irregularities.
National Sales Tax of 23% would hurt American businesses who make things and sell things.
Everything would automatically cost more, at the point of purchase, no escape.
Don't forget your states add their own Sales Tax on top of that.
The poor would be burdended with unnecessary paperwork.
End-point customers would complain that the chain of supply is not taxed at all points.
So there's discrimination to favor middle-chain warehousers and this tax could be averted
with clever arrangements. The only way it becomes safer is VAT (Value Added Tax)
and that is hell for the consumer. Gary Johnson is as stupid as he looks, make no mistake.
The best replacement tax we could institute would be a Transaction Tax of 1/2 of 1
percent or 1 percent on financial transactions over a certain threshold, some type of scaled,
automatic tax on Wall Street profiteers, it's all run by computer programs. Banking is being protected
because the banks own the Federal, State, and Municipal governments. They overcharge
the governments for loans. We are all thralls of the banks. By default they own everything.
That has to end.
I have to wonder if those who want the interest rates to stay low realize this not only hurts the rich but kills the middle class. The only advantage is buying a home. For those trying to make a buck or so on their savings, CDs whatever; OMG, we are making nothing, but we are paying more for food, gas, utilities, and taxes. This is the same with any credit card debt or interest we pay on anything. Keeping the rates low is what is killing the middle class. the only thing we can invest in is the shaky stock market.
That's the entire idea. They want everyone to take everything out of savings and put it into the markets to keep it propped up. It's a massive welfare program for Wall Street. It's Socialism to the Nth degree. But for some reason, those who claim to be against Socialism and welfare are reluctant to condemn this.
To be fair, those who claim to support public assistant programs and those being hurt by these low rates are reluctant to say anything either because of the one in the White House.
BS. It works perfectly fine in Scandinavia and Europe.
Scandinavia doesn't have the huge issue of working poor that we have in America, either. Raise the wages and salaries of American workers and then come back with your big sales tax proposal that favors the wealthy.
I think his tax plan is as hopelessly naïve as Reagan's immigration reform was. The inevitable result would be that the sales tax would be enacted but the income and capital gains taxes would not be eliminated. Congress would insist they be phased out and in the end kept in place at some nominal level. Then either the phase out would be rejected by future congresses or the nominal bottom level would slowly rise over time, and we'd just end up with 3 forms of taxation instead of 2. Why vote to give congress the ability to tax us using a new method? Because they promise they will eliminate the old? We already know they cannot be trusted.
I think his tax plan is as hopelessly naïve as Reagan's immigration reform was. The inevitable result would be that the sales tax would be enacted but the income and capital gains taxes would not be eliminated. Congress would insist they be phased out and in the end kept in place at some nominal level. Then either the phase out would be rejected by future congresses or the nominal bottom level would slowly rise over time, and we'd just end up with 3 forms of taxation instead of 2. Why vote to give congress the ability to tax us using a new method? Because they promise they will eliminate the old? We already know they cannot be trusted.
I'd trust Gov Johnson's foresight and ability to solve problems of this sort over Sec Clinton or Trump....just based of a simple comparison of track records - which Trump has none.
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First things first...
