Tax Reform

[txswinner]

Eliminate income tax and set a federal sales tax on all items except food and medicine. Items imported or build with over 50% imported parts gets charged a double sales tax which goes into the public college school fund.

 

[RubberFrog]

Re: Tax Reform

yeah right....

 

[RubberFrog]

Re: Tax Reform

Poor folks spend a greater percentage of their income on taxable items. Not to mention that they are more likely to be buying the cheap imported items. I am ashamed to hear such an unfair tax plan from a democrat. You're slipin' old boy!

 

[Kenneth Brown]

Re: Tax Reform

We agree TX.

 

[Chief101]

Re: Tax Reform

That would take us into the dark ages.

 

[bekosh]

Re: Tax Reform

Sounds similar to this idea.<br /> Fair Tax <br />It replaces federal income taxes including, personal, estate, gift, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes.<br />Basicly a 23% tax on all new good & services with a monthly rebate.<br />From the faq.<br />

How does the rebate work? All valid Social Security cardholders who are U.S. residents receive a monthly rebate equivalent to the FairTax paid on essential goods and services, also known as the poverty level expenditures. The rebate is paid in advance, in equal installments each month. The size of the rebate is determined by the Department of Health & Human Services’ poverty level multiplied by the tax rate.

This posting does not constitue an endorsment of this idea. I don't think it matters how you collect the taxes. Until the out of control government spending is dealt with, we will continue to pay an outrageous level of taxes.

 

[KaGee]

Re: Tax Reform

I'll bet Jimmy Carter has the answer.

 

[txswinner]

Re: Tax Reform

No Kagee we are much better off with the present administration. Things are so much better since we are controlled by the small government party, reduce taxes, police the world, ole well, we voted this administration into power, they have had the power for 6 years, are our schools better, how is medical care, the economy, jobs for Americans, are we safer, where is world opinion (do we really care), immigration (that would be illegal immigrants Kagee).<br /><br />I know I feel a lot better. And you latex amphi, it would be a burden on the less fortunate, but at least the big spenders would pay a better portion of the taxes.

 

[heycods]

Re: Tax Reform

Originally posted by txswinner:<br /> No Kagee we are much better off with the present administration. Things are so much better since we are controlled by the small government party, reduce taxes, police the world, ole well, we voted this administration into power, they have had the power for 6 years, are our schools better, how is medical care, the economy, jobs for Americans, are we safer, where is world opinion (do we really care), immigration (that would be illegal immigrants Kagee).<br /><br />I know I feel a lot better. And you latex amphi, it would be a burden on the less fortunate, but at least the big spenders would pay a better portion of the taxes.

Now thats the TX we have grown to respect, A man who stands by his principals, right or wrong, a man who speaks his mind, whether hes right or wrong.

 

[tommays]

Re: Tax Reform

Yes please change it again so they so they can find a new way to put the screws to me <br /><br />We have a spend problem that is much bigger than are tax problem<br /><br /><br />tommays

 

[aspeck]

Re: Tax Reform

Txs, I have felt for a long time that a Value Added Tax (VAT) or Federal Sales Tax, whatever you want to call it, would be better. <br /><br />How many poor folk are buying $100,000 boats, $50,000 and up vehicles, etc.<br /><br />Of course the CPA's would be upset, they would lose all their "tax time" income.

 

[alden135]

Re: Tax Reform

Originally posted by aspeck:<br /> <br /><br />How many poor folk are buying $100,000 boats, $50,000 and up vehicles, etc.<br /><br />

A better question may be how many poor folk are BUILDING those boats and cars. <br /><br />Jacking the rich only screws the rest of us. (I'm in that "rest of us" catagory).

 

[aspeck]

Re: Tax Reform

Its just a matter of which hand you take it out of. And one hand you could probably regulate better than the other hand - less loop holes, reward savings and capital growth, etc. It is going to come out somewhere, so why not where it would be fair, regulated, and I wouldn't have to spend as much time or money on preparing a return. Maybe I could save enough for a $100,000 boat and become one of them!

 

[jtexas]

Re: Tax Reform

VAT is a type of sales tax, but not the kind we have in the U.S. VAT taxes are a tremendous regulatory burden...trust me you won't put any CPA's out of work...H&R Blocks maybe. Administration of a VAT would require a beaurocracy at least as cumbersome as the IRS we have now.<br /><br />Sales taxes are generally thought of as "regressive", since the more money you have, the less you have to spend. But there are ways to even that out, such as the example bekosh sited. Everybody gets to spend $xxxx.xx per year before they have to start paying tax. Well, they have to pay it, since the sellers will have to collect it because they won't know who's above the limit. <br /><br />Then get a refund. How will they get a refund? File some kind of form and wait for a check? Sound familiar? It might ease enforcement somewhat...until the smart ones figure out how to work the system.<br /><br />What exactly are the benefits of sales tax over income tax? <br />Compliance, collection, enforcement?<br />Fairness?<br />Are you wanting to shift the tax burden? In which direction?<br /><br />BTW, we have Federal Sales Tax already, only they're called "Federal Excise Taxes" - not all are based on sales (example Heavy Vehicle Road Use Tax). Most are levied at the wholesale level (fuels, tires, batteries, cigarettes), some at retail (air travel, phone service).