Posted on 06/19/2024 8:13:57 AM PDT by spacejunkie2001
“The Fairtax was written for businesses collecting and remitting the tax, not the consumer paying the tax.”
So we would have businesspeople now working ~12-hour days having even more work to do than now so some people work save a few hours work each year filling out 1040s?
Great idea. I don’t like the tariff, but at least it doesn’t violate a score of Constitutional rights as the income tax does.
The federal income tax is not fair.
The Fair Tax would be less fair to much of the middle class.
How about concentrating on Making America Great Again so most people can themselves pay for their living expenses?
With a $35 trillion national debt, the rich are going to be a tax target until their financial corpses are cleaned to the bare bone by IRS vultures.
I never got on board with the Fair Tax. Unless something has changed, it relied on silly pre-bates. A massive amount of work. And STILL have progressive effective tax rates.
Nothing wrong with tariffs. I don’t recall a lot of inflation when Trump squeezed China.
Regarding taxing ourselves, the only inherently fair option is consumption tax. Govt should not even know your income rate.
Spending is the real problem. If govt spending affects the rate of the tax on YOUR spending, then you are more likely to oppose wild govt spending. Today, half the population don’t need to care what feds spend because they pay zero net fed tax either way.
People call consumption tax regressive. Nonsense. The tax is entirely fair. Life isn’t.
For those who feel an unconstitutional federal need to address the unfairness of life... please, at least do so on the spending side and quit mucking up the tax side. And, technically, the state level is the only legit place to do such spending.
Even without Amendment XVI, massive federal income taxation is legally possible.
A federal income tax might cut in at $50,000 in California and say $20,000 in Mississippi, with the tax collected on amounts below $50,000 later rebated at 103%.
A federal wealth tax is also legally possible. It might cut in at $5 million in California and $700,000 in Mississippi, with the tax collected on amounts below $5 million later rebated at 103%.
“Nothing wrong with tariffs. I don’t recall a lot of inflation when Trump squeezed China.”
Do you happen to have a currently valid 20% off Harbor Freight coupon?
Do you shop at $1.25 Tree? $1.35 Tree?
Bkmk
Sounds good to me
If three thousand dollars in income was the upper 3% of the population, then it would be more than $200,000 in today's dollars, not $95k. Let's check this with gold prices; in 1914, 3,000 dollars could buy you 150 ounces of gold. Today 150 ounces of gold is worth around $300,000. So yeah, $3,000 then was more like $2-300,000 today, which makes a lot more sense given we know that the initial income tax strategy was to target only a small number of high earners. Why the discrepancy? Because the government lies about the true rate of inflation/devaluation of our currency to minimize payouts to service and civil pensions and social security. Pretty much all of this inflation has happened in just the last fifty years or so, since we went off the gold standard.
Tariffs and reduce income taxes.
I have down that the initial tax brackets, adjusted for inflation to today, were the following:
<$631,000 none
$631,000 - $1,577,000: 1%
$1,577,000 - $2,366,000: 2%
$2,366,000 - $3,154,000: 3%
$3,154,000 - $7,887,000: 4%
$7,887,000 - $15,774,000: 5%
>$15,774,000: 6%
Tariffs are the fairest tax of all. EVERYONE who buys, pays. Don’t want to pay the duty? Then don’t buy.
Social Security, Medicare, Medicaid are not supported with income taxes. Payroll taxes fund those and those funds are stolen.
Funny how many Freepers love income taxes, like good little progs.
Sophistry....
I think a consumption tax is the way to go also, EVERY consumer pays, EVERYONE has skin in the game!! The very wealthy consume much more expensive items than the lower income people do!! NO LOOPHOLES and NO NON PAYING tax payers!! You purchase items you pay!! NO MORE withholding from pay except SS and DONE easy peasy!! There should be a way for this tax to go straight to the treasury electronically through the business computers EVERY DAY, there should NOT BE any bookkeeping for the businesses money goes straight to treasury!!!
In theory, the best thing would be to fund the government 100% by tariffs, like in the old days. But someone else here pointed out that in the old days the government was smaller, and didn’t do as much. That’s a fair point.
Do we need a large military capable of fighting two major wars simultaneously? Do we need a safety net for the elderly? Do we need an advanced system of highways? I dunno. But if we do, I don’t think tariffs alone can cut it.
It’s still money taken out of my paycheck, it’s still money I will never see, and it’s still a part of what makes Fedzilla oversized.
If you want to fund Fedzilla with 1913 style taxes (as the OP to whom I responded suggested), you have to go back to a 1913 style Fedzilla. Whether you like it or not, that means an end to Social Security, Medicare, and Medicaid along with all the other stuff I mentioned.
BTW, I’m sure you already know that Social Security, Medicare, and Medicaid payments combine to significantly more than half of federal monetary outlays.
Direct taxes have to be apportioned. The 16th amendment did not amend the Constitution. It was and is a scam and is not collected in accordance with that amendment.
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