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Why not just abolish income tax for individuals entirely and go to a VAT tax on all purchases? 20% on purchases, or something similar. It would ensure everyone pays, even those who make money but don't report their income to the IRS. I wonder if that would be enough to replace or exceed the current amount of tax revenue for the govt?
I've often asked this and the answer that I get is that this would overwhelmingly affect the poor much more than taxes do currently. Not that they would be paying more in taxes, but that they would not be able to make purchases to some basic needs items.
I've often asked this and the answer that I get is that this would overwhelmingly affect the poor much more than taxes do currently. Not that they would be paying more in taxes, but that they would not be able to make purchases to some basic needs items.
How about a flat tax, where no one is ever forced to pay over 10% of their income in federal taxes, and no one pays less than 5%, for incomes under $30,000.
But all of this is moot, if we do not force the federal budget to reflect a percentage of the revenue collected. As it is now, tax revenue is not even a consideration behind how much the Congress spends. So any talk about tax rates is a waste of time.
People who sell items being shipped on the highways are already paying taxes for them either indirectly through shipping fees paid to ups etc.. or directly through vehicle registration fees and gas taxes.
Logistics have so many "taxes" on them it's ridiculous. The average person really has no clue how much is being paid by trucking companies for "mah roads"!
I don't know what a fair tax would be, but in my fantasy we tax every Congress person and Senator an additional % for every million dollars of our tax money that they send to another country.
We can call it a theft tax.
Last edited by MPowering1; 09-17-2021 at 08:46 AM..
I'd be alright with a return to the mid-20th Century tax brackets. The 1950 numbers here adjusted for inflation should be fine. $1 in 1950 is about equal to $10 today, so most Americans wouldn't be paying any more than they are currently are. https://web.stanford.edu/class/polis...20Brackets.pdf
State income taxes should just be a low flat tax based off post-federal-tax income, which means they'd effectively have the same brackets as the feds. Local governments could tack onto that rather than sucking money off property owners.
Corporate taxes should be eliminated except for all the hack investment firms that should have their profits taxed like income. Property taxes should be eliminated for owner occupied property. Sales taxes should be eliminated except for at the extraction or import of fossil fuels, which should be taxed proportional to carbon content. All the dumb nickling and diming like car registration, hunting permits, etc., should be done away with.
This incentivizes low-waste, owner-occupied homes and businesses. This incentivizes corporations to invest profit into actual capital improvements, not stock buybacks.
Quote:
Originally Posted by lifeexplorer
But you are slaves, says every democrat.
"In this world nothing can be said to be certain, except death and taxes"
- Ben Franklin
I don't like it any more than you, but we live in a society. We have to maintain it lest we wish for early death.
Food, diapers, school clothes, gas. Actual necessities, not luxuries.
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