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re: No income taxes. What would that look like?
Posted on 10/26/24 at 11:02 am to BCreed1
Posted on 10/26/24 at 11:02 am to BCreed1
quote:See the other post. That would be a massive tax increase over current income taxes for like 95% of the population.
Wrong. You are leaving out consumption taxes totally. You did not even address it.
quote:I did. See option 1. "Massive inflation". Imagine all imports doubling in price...
You did not address the tariff policy.
4
Posted on 10/26/24 at 11:05 am to BCreed1
quote:Indeed. It would be a tax increase on them.
Sure I did. Under a consumption tax, they would pay. Are you thinking those that do not pay income taxes don't shop?
quote:Ummm. Check my math, but paying somehitng is more than paying nothing.
No sir it would not.
quote:This isn't releveant. They currently pay nothing. Under your idea they will pay more. What "other people" pay makes no difference.
In order for your thought to be accurate you have to ignore who spend more money. Does the person who pays nothing spend more than those 10% responsible for 75% of the income tax?
Posted on 10/26/24 at 11:06 am to BCreed1
quote:
No income taxes. What would that look like?
Posted on 10/26/24 at 11:15 am to BCreed1
Without income taxes you could all but eliminate the IRS. Just need a small agency to collect tariffs, sales taxes, corporate taxes. Probably 10% the size of the current IRS
Posted on 10/26/24 at 11:19 am to Taxing Authority
quote:
There's a word for that. We love our small government, don't we?
Every quarter, when you pay your taxes, its a reminder you dont own your business. Why on earth should we take those increased taxes to offset some foreign company getting "tax breaks" to build in the US?
Posted on 10/26/24 at 11:21 am to BCreed1
Cut spending by half
Send Illegals home.
Let Gubmint workers take their jobs and see how the rest of us live
Send Illegals home.
Let Gubmint workers take their jobs and see how the rest of us live
Posted on 10/26/24 at 11:25 am to trinidadtiger
quote:Its definately a reminder that I’m the government’s tax collector—and i’m doing the job for free. But it’s not the same as government owning my business.
Every quarter, when you pay your taxes, its a reminder you dont own your business.
Posted on 10/26/24 at 11:26 am to SWINC
quote:Cool. So eliminate SS? Or cut it and DoD by half? You think Congress is going to do that?
Cut spending by half
I’m all for it. But the political reality isn’t.
This post was edited on 10/26/24 at 11:28 am
Posted on 10/26/24 at 11:26 am to Taxing Authority
quote:
You might want to check out the size of federal government then vs. now.
Found your problem.
Posted on 10/26/24 at 11:27 am to Taxing Authority
quote:
See the other post. That would be a massive tax increase over current income taxes for like 95% of the population.
????????? for that 95% that is less than 100 dollars per month, I think its safe to say the average American spends more than 1,000 per month, hence the 10% or 100 bucks.
Posted on 10/26/24 at 11:28 am to Taxing Authority
quote:
That would be a massive tax increase over current income taxes for like 95% of the population.
Considering approximately 22% of the current retail cost of all goods and services purchased by the end user or corporate income taxes that are embedded in passed along down the supply chain, and the proposed national retail sales tax would be 21 to 23%, how do you figure?
Just because Rachel maddow said it, that doesn't make it true.
This post was edited on 10/26/24 at 11:30 am
Posted on 10/26/24 at 11:29 am to Taxing Authority
quote:
I did. See option 1. "Massive inflation". Imagine all imports doubling in price.
Scare tactics.
Ive exported for decades to several countries with various duties, tariffs, replacement value of labor, etc. You adjust your price and your importer adjusts those, or you dont sell it. Price will go up some but it would not double or a local manufacturer would take the market from you......wait thats what Trump was saying hmmmmm.
Posted on 10/26/24 at 11:29 am to VoxDawg
quote:No doubt. But god luck shrinking the government to 1/12th of what it is today. Would love to see it. But you’d have to eliminate SS, almost all defense spending, and default on the debt to get there.
Found your problem.
I don’t see voters supporting that.
Posted on 10/26/24 at 11:30 am to Darth_Vader
quote:While agree that would be wonderful if possible but from an economic standpoint, to do it in a slashing way (very quickly) that's a whole lot of folks on the unemployment lines.
No we wouldn’t. We cut the government down. You could eliminate probably 90-95% of the federal government and the average American wouldn’t even notice. In fact, they’d probably see an improvement in their quality of life.
Posted on 10/26/24 at 11:30 am to trinidadtiger
quote:Indeed. That’s what an increase is.
????????? for that 95% that is less than 100 dollars per month, I think its safe to say the average American spends more than 1,000 per month, hence the 10% or 100 bucks.
Posted on 10/26/24 at 11:30 am to Taxing Authority
quote:
See the other post. That would be a massive tax increase over current income taxes for like 95% of the population.
100% false.
Posted on 10/26/24 at 11:31 am to deltaland
quote:
Without income taxes you could all but eliminate the IRS. Just need a small agency to collect tariffs, sales taxes, corporate taxes. Probably 10% the size of the current IRS
More importantly it would take the power of the pen from lawmakers to decide who the winners and losers are in business, via the thousands of tax "exceptions".
Posted on 10/26/24 at 11:32 am to VoxDawg
quote:We were talking about eliminating income taxes. If you want to eliminate corporate taxes too, the required sales tax rate would be closer to 50%.
Considering approximately 22% of the current retail cost of all goods and services purchased by the end user or corporate income taxes that are embedded in passed along down the supply chain, and the proposed national retail sales tax would be 21 to 23%, how do you figure?
quote:I have no idea what he says. So…
Just because Rachel maddow said it, that doesn't make it true.
I can do simple math tho. Posted on 10/26/24 at 11:33 am to trinidadtiger
quote:
Scare tactics.
Math and historic experience. quote:Exactly.
Ive exported for decades to several countries with various duties, tariffs, replacement value of labor, etc. You adjust your price and your importer adjusts those, or you dont sell it.
Posted on 10/26/24 at 11:35 am to BCreed1
quote:pretty sure paying something is more than paying nothing. But maybe you disagree?
100% false.
This post was edited on 10/26/24 at 11:35 am
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