What, everyone but seniors is just SOL. Go back to the drawing board Michelle and come up with plan B.
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I agree with her 100%.
Of course, the income tax would just be on the eeeeeeeeeevil rich. Maybe 1% on people making over $500K.
At first.
IMHO, the system that we've got right now is the worst that there is, except for all of the rest of them.
And several rungs lower in mine.
I don't get this. Is she really saying she wants to abolish all deductions? Mortgage interest deduction? Medical deduction? I've had the impression that most tax filers who are taking deductions are usually the ones who are paying taxes, as opposed to the non-filers and those who pay no income taxes.
Are we still allowed to something nice about Michele Bachmann?
Pass a flat National Sales Tax on goods
???
Profit!!!
Seriously, I know the chances are small, but replacing the income tax with a sales tax would do wonders for the economy, and remove a major progressive social engineering tool from the government toolbox.
The Fed is too big already, one more revenue stream simply increases the size of bloated pig.
The problem is not how to best feed the bloated pig that has a bottomless pit for a stomach but rather how to put the pig on a diet, hold the pig accountable, only feed the pig what it requires for the legitimate tasks the people require done e.g. immigration control.
The government is like a big fat pet that thinks it is the pet owner. Giving the pet another feeding trough does nothing but increase the problem.
And instead of prebates, why not just say: “We have food stamps, subsidized housing and various welfare programs for poor people. If those need to increase to pay for sales taxes, then the taxes they pay will take care of that. No checks!”
Just what we need: another ****ing tax. :(
She’s the real deal.
I’m cool with the idea. Just got a few more major things to buy, and I’ll be set for retirement.
At some point I will give her and the rest of the pack a “fair” tax solution that is not a consumption/sales tax (very regressive), can eliminate the direct personal income tax (with all its credits, re-distributions and exemptions), would be low, would not discriminate by source of income or penalize any source of income.
But so far I own it (am the only one who acknowledges the possibility), so end of statement.