Obama Weighs a Broad Tax Overhaul (simplifying income taxes for corporations and individuals)

New York Times ^ | 12/10/2010 | Jackie Calmes

[piytar]

I’d LOVE the idea of a consumption tax, but ONLY paired with a Constitutional amendment banning income taxes.

Otherwise, in 10 years (if not less), we’ll have BOTH our Byzantine income taxes at similar rates as now AND a consumption tax at some ridiculous percentage — and what’s left of our economy will tank, creating an even more massive dependent socialist welfare class and inevitably a marxist state along with all the loss of freedom, death, “re-education,” etc. that goes with that.

[concerned about politics]

As long as it’s not VAT. That is scary.

Nope. No VAT. That still gives the dealers, pimps, and welfare slugs a free ride.
Buy sneakers - pay a higher tax. That goes for everyone. It's the only way to get people to pay attention to taxes and think twice before voting for more of them. If they vote for bigger government and more social programs - EVERYONE pays for it - not just the few tax slaves like it is now. Make EVERYONE feel the pinch. Now THAT'S fair.

[Iron Munro]

Any time a democrat wants to alter the tax system you can be certain that their real objectives are:

- To increase the amount the govenment extorts from taxpayers

- To increase wealth redistribution and stealth reparations

- To further their socialistic agenda

- To create more dependance on the government among the moocher class and protected classes

[concerned about politics]

With the present system, with its unequal application due to special exemptions and deductions, the politicians have the power.

They control the masses through the purse. If they want us to buy houses, they cut us slack. If they want us to stop, they make them unaffordable. That's not liberty. They're deciding for us. A consumer tax - the ONLY tax - would leave the choices to us.

[piytar]

That is, of course, the socialist's ideal society. Also known as H#ll on Earth...

[piytar]

Goofed part of my last post -- bad HTML foo. Trying again:

But what about the effort and ability disparity? Shouldn't all of the smart people have brain surgery to damage their brains and lower their IQs to reduce the disparity? Shouldn't all of the hard working people be forcibly addicted to heroin to lower their work ethic? Shouldn't all of the athletes...

That is, of course, the socialist's ideal society. Also known as H#ll on Earth...

[servantboy777]

National consumption tax.

[servantboy777]

National consumption tax.

[C210N]

Mr. Obama signaled his inclination in off-the-cuff remarks....

0' and Slimes coordinated effort to mold and shape the current discourse into one that furthers his/their agenda, away from the negative, for him, side of wikileaks and the debate around DADT, Dream, and tax "deals".

[paul51]

get rid of the IRS and the hopelessly gerrymandered tax code as well as all the corruption and inefficiencies that go with it. Bring on the Fair Tax

[LZ_Bayonet]

"There is only one tax reform measure worth doing and that is to throw the communist inspired income tax onto the ash heap of history, where it so properly belongs, and replace it with a broad based consumption tax such as the Fairtax bill currently pending in the House Ways and Means Committee!"

Well then, now that they have control, the Republicans should bring it up for a vote in the House.

[FrankR]

[Bigun]

I couldn’t agree more!

[Mouton]

“President Obama is considering whether to push early next year for an overhaul of the income tax code to lower rates and raise revenues”

Now, when most Reaganites read that, they think great. When anyone with any idea of what this guy has in mind read it, they say great, my taxes, which I don’t pay anyway, will remain as is and anyone making more than 75K will pay twice what they are paying now.

This reminds me of something someone told me just before I left for a Johnny Mathis concert. He said, remember this, when he is singing his various love songs, the image he sees in his mind is not the one that you are seeing in yours.

[ridesthemiles]

There are millions of homeowners in the USA who qualified for their mortgages by including the deduction for the mortgage interest & the property taxes.

Making retroactive changes to those homeowners status could be a total disaster.

Making changes for NEW homeowners going forward could be an entirely different thing.

[Myrddin]

Second, the drug dealers and pimps would finally have to pay like everyone else.

Why would criminals suddenly choose to be upstanding citizens? A consumer tax is an invitation to create a black market to move goods without paying the consumer tax. How do you police that? Lots of new government officials prying into private business to make certain they are being collected.

[Spitzensparkin1]

"There is only one tax reform measure worth doing and that is to throw the communist inspired income tax onto the ash heap of history, where it so properly belongs, and replace it with a broad based consumption tax such as the Fairtax bill currently pending in the House Ways and Means Committee! "

Obozo and the RATS trying to head the Fair tax off at the pass. Obozo is not, nor are his quizzlings, qualified to "overhaul" anything.

[jessduntno]

“A consumer tax is an invitation to create a black market to move goods without paying the consumer tax. How do you police that?”

Exactly right. I think a flat tax with a one or two page form would do wonders for us.

[Bigun]

http://www.fairtax.org/site/DocServer/TheFairTaxReducesComplexityComplianceCostsAndNoncomplian.pdf?docID=601

[Bigun]

#39 is for you as well.