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...Which is why we need to slash government welfare programs so that people who are out of work actually make the effort to find work instead of relying on the government...
Ok, as long as we cut oil company subsidies instead of them relying on the government; as long as we get rid of carried interest, that let's billionaire hedge fund managers pay their fair share; as long as we get rid of tax incentives that encourage companies to export jobs, instead of them relying on government handouts, etc.
Ok, as long as we cut oil company subsidies instead of them relying on the government; as long as we get rid of carried interest, that let's billionaire hedge fund managers pay their fair share; as long as we get rid of tax incentives that encourage companies to export jobs, instead of them relying on government handouts, etc.
I agree, let's eliminate all taxes, loopholes and social welfare programs and go to a flat consumption tax system for everyone.
And as a side note, how do billionaire's not pay their fair share today? They pay more in effective rates than any other income category in this country.
I agree, let's eliminate all taxes, loopholes and social welfare programs and go to a flat consumption tax system for everyone.
And as a side note, how do billionaire's not pay their fair share today? They pay more in effective rates than any other income category in this country.
They also pay less of their share in almost 100 years.
I agree, let's eliminate all taxes, loopholes and social welfare programs and go to a flat consumption tax system for everyone.
And as a side note, how do billionaire's not pay their fair share today? They pay more in effective rates than any other income category in this country.
I happened to catch this from Mark Levin the other day, found it striking, and decided to look it up on line when I got home. Mark Levin
Economist Mark J Perry found this interesting factoid. According to 2009 IRS data, the 400 top taxpayers in 2009 shelled out $16.1 billion, while the bottom 50% of taxpayers totaled $19.5 billion in taxes, or less than 25% more.
Something to cite next time someone claims that the rich don't pay their fair share in taxes.
Note also how inherently unstable this structure is. What happens if just a few of those 400 decide to take their money and go to some small offshore tax haven? Wouldn't it be more stable to have a much more broad-based structure instead of trying to drain so much dough from such a tiny group?
This is such a tired old argument. TOTALLY misleading. It's utter BS! Those 400 people are who exactly? Some of the richest families in the entire WORLD! Like the Walton Family. Guess how much the Walton family makes in the stock market EVERY SINGLE MONTH? You're just another braindead American. Not only that the top 400 families probably suck off more wealth from the US economy and hide it overseas than they've paid in taxes in the last 20 years.
They are tiny that's for sure...........but they are WEALTHY beyond belief and very powerful group of people. Trust me you could tax these people at 99% and they'd still be a million times wealthier than the average America.
I agree, let's eliminate all taxes, loopholes and social welfare programs and go to a flat consumption tax system for everyone.
And as a side note, how do billionaire's not pay their fair share today? They pay more in effective rates than any other income category in this country.
I know we've done this before, you seem to like turning every tax thread into a discussion of your lame fair tax...
Consumption tax will never fly. You're dreaming. Why?
1) Consumption is not predictable, it can very greatly from year to year.
2) the wealthy always find ways around taxes, this one would be no different, black market, grey market, business exemption used for personal purchases, overseas purchases, whatever the latest work around they deploy... Leona's "we don't pay taxes, little people pay taxes" would still apply.
3) the tax burden would disportionally fall on the working poor. A billionaire pays the same price as the poor for most things, everyone pays the same price for toothbrushs and toilet paper, yet the true cost to the poor is much greater.
4) it is a tax on borrowed money which negatively impact the poor who live on borrowed money.
5) finally, the wealthy will just move off shore beyond the tax, earning their wealth tax free here and spending it in consumption tax free countries. Again, increasing the burden on those that cannot jet set around the world like the wealthy.
I agree, let's eliminate all taxes, loopholes and social welfare programs and go to a flat consumption tax system for everyone.
And as a side note, how do billionaire's not pay their fair share today? They pay more in effective rates than any other income category in this country.
LOL haha it's pretty simple stupid. You make $150K a year and pay 30% in taxes and someone makes $20,000,000 a year and pays 30% in taxes. Don't see anything wrong with that?
You're a dolt like most Americans when it comes to understanding basic economics let alone economic systems. The entire essence of Wallstreet is to redistribute wealth from the working class to the wealthy class. And lemmings like you and many others are brainwashed into going along with and participating in the scam because one day you just might invest enough to retire with your measly 401k and "stock options" while you work like a dog until the age of 75! The entire history of America has been one of redistribution. The rich should and can pay A LOT more than they do. Otherwise this country will implode. Even the great capitalists John Locke and Adam Smith warned us that too much wealth concentration in too few hands will destroy a country via capitalism. Most of these billionaires are not only personally wealthy they own huge companies that also pay little to no taxes. In the 1950's the US government got 1/5 of its revenue from corpporate taxes. Today in 2010 that has dropped to less than 1/10. Oh boo hoo! The big rich pay too much in taxes! :c rying: Wake up or you'll be living in a third world country before you know it.
I know we've done this before, you seem to like turning every tax thread into a discussion of your lame fair tax...
Consumption tax will never fly. You're dreaming. Why?
1) Consumption is not predictable, it can very greatly from year to year.
2) the wealthy always find ways around taxes, this one would be no different, black market, grey market, business exemption used for personal purchases, overseas purchases, whatever the latest work around they deploy... Leona's "we don't pay taxes, little people pay taxes" would still apply.
3) the tax burden would disportionally fall on the working poor. A billionaire pays the same price as the poor for most things, everyone pays the same price for toothbrushs and toilet paper, yet the true cost to the poor is much greater.
4) it is a tax on borrowed money which negatively impact the poor who live on borrowed money.
5) finally, the wealthy will just move off shore beyond the tax, earning their wealth tax free here and spending it in consumption tag free countries. Again, increasing the burden on those that cannot jet set around the world.
The only reason rich people find ways around paying their taxes is because our corrupt bought and paid for government allows them to. Make the tax laws more strict, actually punish those rich who skirt the tax law and send the IRS after them like they do the little guy and you'll clean up the loopholes in a heartbeat. Most of the business exemptions are for corporations who pay little in taxes as it is. Another example of how our politicians have sold us out. GE and Obama is a perfect example and GE has been around a lot longer than Obama so you can blame just about every President for the last 50+ years.
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your "fair tax" scheme is a con job.
