Posted on 08/10/2004 7:08:18 PM PDT by NormsRevenge
NICEVILLE, Fla. (Reuters) - President Bush (news - web sites) said on Tuesday that abolishing the U.S. income tax system and replacing it with a national sales tax was an idea worth considering.
"It's an interesting idea," Bush told an "Ask President Bush" campaign forum here. "You know, I'm not exactly sure how big the national sales tax is going to have to be, but it's the kind of interesting idea that we ought to explore seriously."
Republican economists who speak regularly to the White House have said that the Bush campaign has been mulling the idea of an overhaul of the tax code as part of an agenda for a second term should Bush win reelection.
Some lawmakers have floated ideas of simplifying the tax code by putting in place a "flat" income tax rate or a national sales tax. But those ideas have so far not gained much traction in Congress. Opponents say such a system would not be in the best interests of the poor and the middle class who would pay the same tax rate as the wealthy even though they have less disposable income.
Do you guys not realize that the consumer pays for all taxes corporations are responsible to pay today? We currently have an imbedded tax in the price of goods today, we just don't get to see that tax with each purchase. Corporations don't pay taxes, customers do!
"but alot of those people who are self incorporated or who have small businesses, write off alot of stuff they should not. especially cars, I think half the Mercedes I see on the road are probably writeoffs for small business owners.
straight W2 wage earners paying the income tax, probably have near zero fraud in their tax payments and deductions."
I love the smell of class warfare and envy in the morning. Who are you to declare what cars a business owner can purchase?
For instance I could start my own company and purchase anything tax free but never resell it.
BUMP
" am saying that anyone who decides to vote for an incumbent on the basis of an "idea" that the incumbent didn't do anything about during a first term is a fool."
Then I must conclude that any person casting a vote for JFnK must be a fool 5x as foolish as anyone casting a vote for GWB.
Federal labor union just too an involuntary dump.
They were dancing with the idea of a security czar so they could have a patsy to push around for more federal employees. Now they may be loosing, again.
Hey labor, remember the air traffic controllers. This is not socialist EUland.
Great points! I never considered how such a simple change could effect state sales taxes!
"Even the illegals we have to support would have to pay a little."
Actually, they would have to pay a LOT, at least relative to legal residents. Because you have to have a valid SSN to file for the rebate (or Family Consumption Allowance), illegals would in actuality be paying a higher effective tax rate than the rest of us.
You don't get rid of the IRS with a flat tax. The Fair Tax (national sales tax) is the way to go.
Some lawmakers have floated ideas of simplifying the tax code by putting in place a "flat" income tax rate or a national sales tax. But those ideas have so far not gained much traction in Congress. Opponents say such a system would not be in the best interests of the poor and the middle class who would pay the same tax rate as the wealthy even though they have less disposable income
GOOD
Now everyone pays the same rate. The entire idea behind a sales tax is that EVERYONE pays. Don't tax items necessary for life, i.e. clothes, food, medicine, but everything else CAN be taxed.
Well, the obvious counter to this is to tax the government via charity funding of an opposing militia... but sheeples are afraid of gun dealers and exchanges as well as gunshows.
Meaning that the process can take months, even years, to repeal the 16th.
This is a REVENUE bill. It has no effect on spending.
Then where will the money go to then? The rate will be have to be high in order to accompany the out-of-control government spending. Without meaningful cuts in spending, the NRST will be in the high 30s and low 40s percentages.
Before we will ever get a handle on spending, we must shift to this type of tax system where everyone pays.
Totally agree - but we need to do it the right way AND we need to make sure the income tax is completely killed off.
The bill has to be revenue neutral. To achieve that, the rate will start at a much higher rate
Special-interests will circle like vultures then and force the rate to go up higher and riddle the NRST with a bunch of loopholes, just like the income tax is now.
The tax is only on new goods by the end user. This is NOT a VAT.
I know it's not a VAT but Hastert stated that a VAT is also part of the tax reform equation.
I heard the Boortz interview this morning with the guy who asked DubYah about the NRST -- Boortz called him a hero!
Boortz also mentioned that Vice President Cheney, after being briefed on the Fair Tax by (I assume) Rep. Linder, thought the Fair Tax was a great idea and wanted to know when the Congress was going to pass it!
if they use them for personal use (and most do), then I care. that's fraud.
the cars I use for personal use - I have to pay for with after tax money.
Iraq invaded Kuwait under Bush 41 - there wern't 3000 dead americans in the streets. Its different this time.
If Kerry loses - it will be because Americans don't trust him to be a leader on national security. It won't be because of the swift vets, because of the clean room suit photos, because his wife is a headcase. None of those issues are going to make a difference against Kerry.
you mean, I should start a business so that I can illegally write off a car that I use for personal use - as a business expense?
people will run out and buy cars before the tax hits - that's human nature, and that's the way consumers will behave. it happened in California when Davis went with his auto tax. it happened when there was a luxury tax on boats also.
its simply too late in the election cycle to come out for something like this, the sheeple will look at it as a ripoff, as soon as they hear "national sales tax".
How are you able to figure out the specific use that they are conducting at any given time? How do you know that they don't only deduct the percentage of use attributed to their business and not for their personal life?
"Even the illegals we have to support would have to pay a little."
You're absolutely right. You've brought up a point that even major proponents haven't mentioned. The "subterranean" economy is estimated at over $1.5 Trillion per year. The Fair Tax would be able to recapture at least some of it.
because I know some people who do this. and they aren't using these cars for business purposes.
automobiles is probably one of the biggest areas for tax abuse for small business and the self incorporated.
if you want to argue that taxes are too high, that the system needs reform - that's one thing. but to argue that some people should be able to take these writeoffs, while W2 wage earners have to pay for their cars with after tax money, is simply not right.
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