Posted on 04/18/2017 4:55:47 AM PDT by Kaslin
Really....I want to know.
The cost includes :
-—the massive accounting departments maintained by businesses ( these hidden expenses are passed to the consumer),
—the costs to the taxpayer to hire professional help and computer programs,
—and the cost of the massive government collection agency ( the IRS)
We need a system that is transparent ( abolish hidden taxes passed the consumer in the form of higher prices, and is inexpensive to collect.
Please see my post #21.
Not if there is a minimum income tax rate regardless of deductions or credits. Currently, people with low incomes can reduce their taxable income to zero with deductions and even get refunds so they pay negative tax rates via child tax credits, EITC, etc. If there was a minimum tax rate of 10% of GROSS Income, including everything as Income like government benefits and muni bonds, then those people would not be able to skate.
The problem with a sales tax is that it encourages people to spend their money outside the country instead of here. The Fairtax, for example, NEEDS the very wealthy to spend all their income in America — if the top 1% does not spend their $3T annual income in America, the Fairtax has a huge hole in its claimed revenue to the tune of $700B/yr.
There are many other problems with the FT in particular, but any tax that has high rates at the margin and low rates at the bottom are bad. It pushes the idea that government should be free for the less successful citizens and expensive for the more successful.
Agree. My cousin and I sat down and figured up, total taxes take close to 50% of your income. The depth of greed by politicians for other people’s money does not have a bottom.
I paid my tax preparer $595 this year.
A 20% import tariff and a NRST and eliminate the income tax. Step back and watch the economy on rocket fuel.
If you defend the income tax in any way shape or form then you are a progressive.
Sales tax for all. It’s simple and extractable. If money is spent outside the country, goods brought back are still taxable. Remember the declaration form we all fill out on return. The benefit dependent still spend their benefits and when they do, they still pay the sales tax.
We need a sales tax plus a tariff. Then your talking business. Re industrialization will make the economy sky rocket.
That assumes they will return and bring foreign purchases with them. What about those who live abroad, return only to visit friends or make business deals, and spend very little of their US earned income here in the states ?
No doubt some would slip through the net.
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