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Originally posted by BorgHoffen
I guess its better than nothing.At least they are suggesting it.
But it will never get through.
National sales tax wouldn't be as much, if people didn't buy as many things.
The amount they make from income tax is absurd.
They wont get rid of it.Besides having income tax makes it easier to spy on people.
Think about it: you earn, say, $1000 per month, and almost all your income goes to buy food, clothing, gas, shelter, etc. Paying a flat tax of say 15% means that about $120-130 of your monthly budget goes to taxes and will not be offset, and you need that money desperately to live a decent life.
A flat consumption tax--standing alone, without a mirroring tax on investment income--and you can be sure you will not hear a word about this, as they try to sell you the horse with three legs--is actually a regressive tax in sheep's clothing.
However, say you make $1,000,000 a year. And there are many who do. These rich people will only pay a relative pittance--perhaps 3-5% of their income--in a tax scheme based on consumption.
How much food, clothing, etc., after all, can even a rich person buy?
And you hear nothing about a similar tax on investment income--passive profit that comes simply from using all your money to make even more. No, God forbid!
This is why these "conservatives" love the flat tax
Originally posted by wutone
Why should one class of citizens be forced to pay taxes or deal with huge penalties while another class gets to snake out of it until the media happens to catch them?
A tax revolt is perfectly sensible at this time.
investment income is exactly what it is, btw
Originally posted by Blaine91555
Two corrupt Politicians does not make a class of people. You want to penalize the innocent along with the guilty???? How disingenuous is that? If a dog bites me, should all dogs be killed?
Originally posted by Desert Dawg
Any comments on what the percentage of tax would be?
Or limits on what would be taxed?
House payments for example.