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I don't see that as a problem, tax the trusts at the same rate as people.
As for the rich buying more, they buy much less than they make and many don't "buy" anything, their trusts buy it.
For churches? Tax the preacher and the trusts, but let the church spend tax-free on their truly charitable activities. The government would probably be doing it if the church didn't, and the donations to the church have already been taxed to the people giving it. You'd be taxing the money twice.
Originally posted by AQuestion
Here is an article explaining what Romney wants to do...
Originally posted by jeanne75018
VAT is the most unfair tax
VAT has to be considered for two people who buy the same product (it has always been evaluated this way by the statistics institutes everywhere on earth and beyond) : if Mitt Romney or yourself buys a iPhone, you will pay the same amount of money, and this is just disgusting. I don't even speak about the yacht, you will never be able to pay yourself a yacht...
The VAT (which is said to be invented by the French...) is now fancied by the rich and they try to stuff people's mind with the idea it is a fair tax, but they do know it is not.edit on 20/10/2012 by jeanne75018 because: typo
The first major tax increase from the president who promised no tax increases on 95 percent of the population goes into effect today, April 1. This is not an April Fool's Day joke - this is a tax increase that hits approximately 21 percent of adults age 18 and over, regardless of income level, and approximately 20 percent of teenagers, many of whom are not normally considered to be among the ranks of taxpaying citizens.
The federal tax, an increase of 62 cents per pack of cigarettes, starts April 1. Here's how this translates into actual numbers, using the assumption that the average smoker smokes one pack of cigarettes per day.
At one pack a day, the average smoker will pay an additional 62 cents per day, or $226.30 per year in additional tax. The smoker who smokes two packs per day will pay an additional $452.60 per year in tax. There are no deductions allowed that might lower this tax. There are no credits available for people who are on a fixed income or who are out of work.
The Americans for Tax Reform Web site mention the following statistics:
•55 percent of smokers are considered to be "working poor."
•One in four smokers lives below the poverty line.
•On average, smokers, whose median income is a little more than $36,000, make about 30 percent less
In late July, Men's Health Editor Peter Moore sat down with President Obama in the Oval Office to talk health care reform. The most controversial part of the interview was on the subject of sin taxes--that is, taxing soda and other sugar-laden products, or on activities that sabotage the health of the masses.
Here's what the President told us: "I actually think it's an idea that we should be exploring. There's no doubt that our kids drink way too much soda. And every study that's been done about obesity shows that there is as high a correlation between increased soda consumption and obesity as just about anything else. Obviously it's not the only factor, but it is a major factor.
if Mitt Romney or yourself buys a iPhone, you will pay the same amount of money, and this is just disgusting. I don't even speak about the yacht, you will never be able to pay yourself a yacht...
Originally posted by ownbestenemy
Here is how politicians are thinking (and Romney needs to dump whoever is feeding him the idea that VAT is the solution): VAT + consumer spending @ 70% of GNP = $$$$$$$. The thing is, we don't have a revenue problem when it comes to taxes taken in, we have a spending problem.
In my opinion consumption tax with rebates is the better way to go and still tax business on their profits and capital gains (at a low rate). Obviously overly simplistic view....
Originally posted by KeliOnyx
Want it illustrated? Just take a moment and consider what happens at tax time. Millions of middle class families file their taxes, after working their way through all the deductions for owning a home, donating to charity, and deducting their overindulged undereducated demon spawn get a nice refund.
They then use that money frequently to pay off the Christmas bills they rang up, and go and buy items that they would not normally buy during the course of the year. Like Big Screen TV's, maybe a down payment on a car. It is an annual economic shot in the arm for the economy, which turns up as pure continuing profit for the investor class.
Originally posted by ownbestenemy
The system is rigged to the nature of 'out of sight, out of mind' and we are now conditioned to think such notions as "take home pay" and "tax refunds"....
Originally posted by Xtrozero
Well first, if you get a refund you just gave the Government a interest free loan...lol
Let's say all said and done they pay 8% in the end...why not just tax them 8%? A flat tax would be a much lower tax amount. They can even pay 10% into it so they get their precious refund. One way they need to jump through many hoops in a complicated tax code with 50k people working for IRS to check their work, and the other way they just pay 8% each month and 1 guy at IRS is now needed...lol
You are suggesting that people can not save per month and so they need someone to hold their hand and force them to save with this type of tax system...I find that ass backwards to say the least.