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The Coming Collapse of Income Tax A System on the Verge of Self-Destruction
DaVinci Institute | October 4, 2003 | The Coming Collapse of Income Tax

Posted on 01/26/2006 12:32:20 PM PST by phil_will1

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To: SolidSupplySide

Please quote me wherein you assume I made a wish. Thanks in advance.


41 posted on 01/26/2006 1:36:26 PM PST by Zon (Honesty outlives the lie, spin and deception -- It always has -- It always will.)
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To: mhx

Totally agree. "Universal dislike" merely acts to bring people together in their suffering. Sympathy is not a solution!


42 posted on 01/26/2006 1:40:51 PM PST by AmericanChef
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To: SolidSupplySide
How am I wishing? It's simple economics... the current income tax system encourages current consumption because many expenses are deductible and thus paid with pre-tax dollars. A sales tax would have the opposite effect, and encourage saving. More personal saving = less reliance on social insurance programs, no wishful thinking required.
43 posted on 01/26/2006 1:44:35 PM PST by BubbaTheRocketScientist
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To: phil_will1

When monkeys fly out of Hillery's backside, the income tax system will cease to exist.


44 posted on 01/26/2006 1:44:41 PM PST by MaDeuce (Do it to them, before they do it to you!)
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To: phil_will1
Regarding the "income tax" (so named), we used to get our news over the radio or via Movietone News at the local 9 cent theater on a Saturday. I can still remember the moving picture of that ridiculous Senator saying, "We are just going to take a little bit out of each paycheck." The Fair Tax would work and allow us to control the amount of tax we pay regardless of the capricious behavior of our representatives. And, everyone will participate. The trick is to get the politicians to do something in the best interest of the people instead of their reelection effort.
45 posted on 01/26/2006 1:58:11 PM PST by DX10
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To: SolidSupplySide

Not so ... it's not "inextricable" - it's linked to wages, not income. Income is indeed private under the FairTax and the S/S & M/C entitlements are funded from consumption which has a much larger base than income so that provides more breathing room to get rid of both of them.


46 posted on 01/26/2006 2:00:29 PM PST by pigdog
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To: expatpat

Don't sweat it, pittipat, Congress WILL pass it. they'll soon have no valid alternative in spite of naysayers like you.


47 posted on 01/26/2006 2:02:46 PM PST by pigdog
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To: pigdog
To clarify, I was using "income" in the economic sense of the term. I was not using it using the artificial definition of the tax code.

But you are wrong when you claim that income is private under the FairTax. It is necessary for the government to know income in order to determine SS *benefits*. You can't get around that with the FairTax.

48 posted on 01/26/2006 2:03:41 PM PST by SolidSupplySide
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To: Alberta's Child

And H&R Block stated a few years ago it'd be fine with them to NOT have the income tax so they could concentrate on the more profit-productive business of financial advice.


49 posted on 01/26/2006 2:06:57 PM PST by pigdog
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To: SolidSupplySide

No, you're wrong. With the FairTax there isn't the slightest necessity for the government to be delving tnto everyone's income such as interest, capital gains, dividends, etc. None at all. The only thing that would support the entitlements in question is CONSUMPTION - not income and not (as at present) wages.

With the FairTax a person's income (aside from the wages which must be reported to the SSA under present law since that's what the entitlements are based on) is not reportede to the government at all - nor is there any reason to do so. It's none of the government's busines after all.


50 posted on 01/26/2006 2:16:40 PM PST by pigdog
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To: MaDuce

When monkeys fly out of Hillery's backside, the income tax system will cease to exist.

You've got the hots for Hilary's butt?

51 posted on 01/26/2006 2:17:39 PM PST by Zon (Honesty outlives the lie, spin and deception -- It always has -- It always will.)
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To: Zon

"When monkeys fly out of Hillery's backside, the income tax system will cease to exist.

You've got the hots for Hilary's butt?"

I figure that that would be the most likely place where they would appear ... Wicked Witch and all ... Hilary got back! ;)


52 posted on 01/26/2006 2:21:53 PM PST by MaDeuce (Do it to them, before they do it to you!)
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To: pigdog
I agree with you.

Fairness of the system will soon become an issue, moreso than it is now. The income tax is not fair and it absolutely discriminates against "the rich". Unfortunately, the liberals have been laboring for decades and have succeeded in defining "the rich" as just about anybody who lives above the poverty line. I think that the naysayers would be astounded at the number of people that the income tax impacts with more or less devistating results....

53 posted on 01/26/2006 2:29:08 PM PST by B.O. Plenty (Islam, liberalism and abortions are terminal..)
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To: phil_will1

I would love to see Bush reply repeatedly to the wiretap-invasion-of-privacy issue with a comeback like: "you think that's bad, 200 million tax payers are preparing forms right now that will tell the government alot more about their privacy than we could ever get from wiretaps..."


54 posted on 01/26/2006 2:29:14 PM PST by JTHomes
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To: DX10

"The trick is to get the politicians to do something in the best interest of the people instead of their reelection effort."

Perhaps one way to solve that is to align the interests of the people with that of the office seekers by building enough support for tax reform that opposing it is a sure ticket out of Washington.


55 posted on 01/26/2006 2:29:32 PM PST by phil_will1 (My posts are in no way limited or restricted by previously expressed SQL opinions)
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To: MaDuce

"When monkeys fly out of Hillery's backside, the income tax system will cease to exist."

Your statement assumes that the author is totally worng in that the trends which he points to as unsustainable are, in fact, sustainable. You are also implying that we can continue to add tens of billions to our annual trade deficit numbers without risking our entire economy. Perhaps you are correct and the economists are wrong.


56 posted on 01/26/2006 2:33:04 PM PST by phil_will1 (My posts are in no way limited or restricted by previously expressed SQL opinions)
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To: pigdog; SolidSupplySide
Income is indeed private under the FairTax and the S/S & M/C entitlements are funded from consumption which has a much larger base than income so that provides more breathing room to get rid of both of them.
Your first post and your first lie of the thread.

Income is a larger base than consumption. Income is the sum of consumption and savings so the only way consumption could be larger than income is if savings was negative (and it's not).

You may want to learn the difference between income and consumption and taxable income and taxable consumption.
57 posted on 01/26/2006 2:34:23 PM PST by Your Nightmare
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To: JTHomes

I would love to see Bush reply repeatedly to the wiretap-invasion-of-privacy issue with a comeback like: "you think that's bad, 200 million tax payers are preparing forms right now that will tell the government alot more about their privacy than we could ever get from wiretaps..."

Stellar!!

58 posted on 01/26/2006 2:39:49 PM PST by Zon (Honesty outlives the lie, spin and deception -- It always has -- It always will.)
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To: JTHomes

"I would love to see Bush reply repeatedly to the wiretap-invasion-of-privacy issue with a comeback like: 'you think that's bad, 200 million tax payers are preparing forms right now that will tell the government alot more about their privacy than we could ever get from wiretaps...'"

Ohhhh, I LIKE it!


59 posted on 01/26/2006 2:46:50 PM PST by phil_will1 (My posts are in no way limited or restricted by previously expressed SQL opinions)
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To: Your Nightmare

"Income is a larger base than consumption."

Your first post and your first attempt on this thread at deception.

Taxable income is quite a bit smaller than consumption.


60 posted on 01/26/2006 2:49:16 PM PST by phil_will1 (My posts are in no way limited or restricted by previously expressed SQL opinions)
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