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And put in place a massive bureaucracy to decide what an art collection is worth? Hard Pass. We want smaller government, not bigger.
No need for a “massive bureaucracy” to asses art collections. Not everyone owns art collections. Only a few do. Regardless, the insurance value of the collection can provide a guideline. At the end, taxation of wealth is more efficient and fair than income, which is always problematic. Did you know how much Apple pays? corporations declare ZERO income every-year. Overall such agency can be less than what IRS is today.
Would You Be In Favor Of Doing Away With The Income Tax - Yes
And Replacing It With A Consumption Tax - No
And…what about those nuclear submarines, stealth airplanes and aircraft carriers? What about “war on drugs” that the US spends billions on every year? And the anti immigration agents on horseback? Do they work for free? I almost forgot prisons. Roughly two million inmates (a higher number than any nation on earth)….All these expenses, who will fund them?
Do you believe it would be fairer than our current system where everyone pays their “fair share’ as the left likes to say!
I'd prefer a 10% federal income tax for all, from dollar 1, no exemptions, no deductions. One rate on individuals (no marital status nor dependent questions) plus corp earnings. Set up as a Constitutional Amendment disallowing prior laws allowing the rate to be modified or allowing exemptions or deductions-w/o going through full amendment process again.
No need for a “massive bureaucracy” to asses art collections. Not everyone owns art collections. Only a few do. Regardless, the insurance value of the collection can provide a guideline. At the end, taxation of wealth is more efficient and fair than income, which is always problematic. Did you know how much Apple pays? corporations declare ZERO income every-year. Overall such agency can be less than what IRS is today.
It still requires a bureaucracy to process the paperwork and all government agencies ultimately become massive, bloated and unproductive. Bureaucracies are like cancers.
A consumption tax is collected at point of sale and the entire IRS bureaucracy can be replaced with a database. TBH government spending, payrolls and headcounts should be tied to private sector GDP and employment. If the private sector loses a million jobs, the government has to lay off a portion of their workforce commensurate to that. If the private sector loses 2% of GDP, the feds have to cut the budget by 2%.
Last edited by albert648; 10-03-2021 at 02:19 AM..
No need for a “massive bureaucracy” to asses art collections. Not everyone owns art collections. Only a few do. Regardless, the insurance value of the collection can provide a guideline. At the end, taxation of wealth is more efficient and fair than income, which is always problematic. Did you know how much Apple pays? corporations declare ZERO income every-year. Overall such agency can be less than what IRS is today.
I come taxes are punitive to success. Why would you be in favor of penalizing success? Consumption taxes are paid by everyone. Even corporations. How is that not fair? No arbitrary level of "wealth" or income targeted. A simple you bought it, you pay
A Consumption Tax will affect the Poor way more.
If you think the Underground Economy is big now just wait and see what will happen if this is passed.
Products can be tracked when they are sold but not all services can be.
"A Consumption Tax will affect the Poor way more."
Don't know how you came up with this,
The poor CANNOT AFFORD to buy as much, which is WHY they are the POOR!
And…what about those nuclear submarines, stealth airplanes and aircraft carriers? What about “war on drugs” that the US spends billions on every year? And the anti immigration agents on horseback? Do they work for free? I almost forgot prisons. Roughly two million inmates (a higher number than any nation on earth)….All these expenses, who will fund them?
Why don't you research and figure out how we survived as a nation that for the most part didn't have a Federal Income Tax until 1913. Can you do that?
The highest percentage of the budget, by far is welfare. Did you know that? I asked because you never mentioned the largest item.
Our Federal government has a small defined role. The progressives ignored the actual role and grew government. Reduce it, get rid of the iRS, get rid of the welfare state, get rid of the Dept of Education. All of that, every single bit, is the responsibility of the states.
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