Posted on 05/27/2009 7:11:38 PM PDT by Kaslin
Cut government by 3 percent every year. Every year.
Cut government 100% in 1 year, now, and start over with term limits.
Tax and spend is the Democrats’ religion, and they now have the power to force us to put more dollars in the collection plate for the next 4 years. You may as well get out your wallets and purses brothers and sisters, the plate is about to be passed down your aisle.
..”force us to put more dollars in the collection plate for the next 4 years.”..
Try at least 8. The fix is in.
..”force us to put more dollars in the collection plate for the next 4 years.”..
Try at least 8. The fix is in.
“China has a VAT. My understanding is, they reimburse the VAT on any products exported. In effect, it’s a tax-break to their domestic manufacturers who compete in international markets.”
That is how most VATs work. You are correct that a border adjustment element in a country’s tax system gives it a leg up in international trade. There are 30 countries in the OECD. We are the only one of the 30 without a border adjustment element in our tax system and the only one which has a massive trade deficit. In fact, the other 29 actually have a net trade surplus - even though neither China nor India are in the OECD.
The FairTax would be the most desirable option in this respect because it is the only proposal that takes 95% of federal taxes and includes them in a border adjusted tax. That would maximize the tax system’s competitive position.
I have to admit I had a knee-jerk reaction to the Fair Tax proposal. The more things unfold the better it looks, though. Our tax codes need to be thrown out the window, IMHO and replaced with some type of VAT or consumption tax.
A million screaming CPA’s would be a small price to pay if it rejuvenates the manufacturing sector. Operating a small business would be 10X easier.
Get ready.
Mileage fees, gas tax, VAT, Carbon Penalties.....etc etc.
But they won’t switch to a VAT. They will just ADD the VAT to the dozens of taxes we already pay. And add the VAT to the “cap and tax” plan and we end up paying many thousands of dollars in new taxes each year.
I'm with you. It's looking better than what we have, esp. when the VAT is thrown in.
Having money in post taxed mutual funds and my wife's Roth IRAs, thinking of paying 30% on anything bought (yes, new) was a non-starter for me.
But the prebate really galls me. It's just another welfare giveaway IMHO. Dump it.
Everyone pays something.
“It all costs money, and makes domestic businesses less competitive.”
That seems so obvious; I am constantly amazed at how many people just don’t get that.
This would be a significant issue even if we were operating in a static economic environment. However, globalization is one of the most important transformational changes in world history and it is leading us toward a day in which the global marketplace will be far more competitive than any we have seen before in history.
Have no doubt, a federal sales tax is coming.
Just the thing for the real estate market!
These trial ballons ain’t floating away; if they deflate, they’ll be reinflated and flown up the flagpole again!
Now, if they figure out how to tax texting........
More taxes are coming if we cannot replace the idiots in Washington with statesmen. Probably 75% or more of what the federal government spends money on is outright unconstitutional. Yet the attitude in DC is that the federal government can do pretty much anything it wants to.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.