Fair Tax Act of 2011

[TheHippi]

I think that we need to lower taxes for people who make less than a few hundred thousand a year and get rid of all the loopholes for the rich before we get rid of income taxes. Sales taxes in general are bad for economies.

 

I think that a national sales tax would be a great idea. There are a lot of people out there that are making money "under the table" and not paying tax, and this would throw them under the bus.

 

Especially people like illegal immigrants.

The best way to solve that is to re-open the border's and let people who want to live in America live here, like the way it used to be.

Edited March 9, 2011 by TheHippi

[CowKing]

I'm going to put this here because I know this thread will touch this topic at one point.

[TheHippi]

I also think a sales tax would hurt the upper class less because they don't spend as much of a percentage of their wealth.

[malmsteenisgod]

I'm going to put this here because I know this thread will touch this topic at one point.

 

Fixed. Communism FTW!

 

Lol jk

Edited March 9, 2011 by malmsteenisgod

[flareback]

I think that we need to lower taxes for people who make less than a few hundred thousand a year and get rid of all the loopholes for the rich before we get rid of income taxes. Sales taxes in general are bad for economies.

 

Can you give me an example of a country that has seen the economy go bad because of the change? Or an example of a bad economy because of a national sales tax?

[Guest_Jim_*]

I'm going to put this here because I know this thread will touch this topic at one point.

But don't neglect how much the wealth pay in taxes right now. In 2008 the top 50% paid 97.30% of the money brought in by the federal income tax. Top 25% (of the whole, not that 50%) was 86.34% and top 10% (still of the whole) paid 69.94%. Top 5% pays 58.72%. Looking at your graph, that's actually about the same distribution as their income tax.

I haven't the time now to generate a graph like yours, but here's my data source: SOI Tax Stats - Individual Statistical Tables by Tax Rate and Income Percentile

Remember though, that's is only income tax I'm reporting on, no other taxes which may have different distributions. I can look for it later, but I do have to go now.

[d3bruts1d]

Personally, I'm for the repeal the income tax, the 16th amendment, and abolishing the IRS. Allow the states to levy their own taxes (income, sales, property, etc.) as they see fit, and require the states to fund the federal government based on population / income, so that the government can operate the tasks explicitly set in the constitution (i.e. provide for the common defense, regulate interstate commerce).

[wevsspot]

I think that d3bruts offers the best solution.

 

But to expand;

 

1. Exit the UN and end all contributions

2. Cap the amount of yearly foreign aid dollars the U.S. spends (that means the money that individuals and corporations pay for taxes that get shelled out to other countries)

3. Stop meddling in other countries and gracefully exit/end all of our "wars"

4. Invest the money being spent on the UN, Foreign Aid and the war and use it to promote domestic energy sustainability of all forms, fossil fuels, coal, natural gas, solar, wind nuclear etc.

5. Offer incentives to the oil and automotive industries to develop, engineer and produce zero footprint transporation modes - in the styles, sizes, features and performance capabilities that the American consumer would desire

[SpeedCrazy]

wev for President!

But seriously, to my ignorant self(not very up on politics) that seems like the best solution. Historically the more the government meddle with the citizen the more the country goes down hill, reverse this trend and we will be the worlds superpower once again.

[dr_bowtie]

Screw taxes.....

 

you know the federal income tax was supposed to be OVER when the war ended long ago... It was implemented during one of the World Wars and was supposed to be repelled once the war was over but alas it never was and then the real greed set in...

 

Fired them ALL and start over...talk about a major drop in prices and Inflation that will almost totally disappear....

 

EDIT.... I totally vote for wevsspot and D2 as President and vice president elect or CEO and slacker, which ever you prefer to call them

 

 

you guys are on the money....

[TheHippi]

Can you give me an example of a country that has seen the economy go bad because of the change? Or an example of a bad economy because of a national sales tax?

It's more of an economic principle really. Adding a sales tax changes the demand curve and less people are willing to pay for a given product. You would have to take an economics class to understand it better because I'm probably explaining it horribly.

[flareback]

It's more of an economic principle really. Adding a sales tax changes the demand curve and less people are willing to pay for a given product. You would have to take an economics class to understand it better because I'm probably explaining it horribly.

I have had economics. It may change how much they pay for an item but they have more income. It's not like adding a sales tax when an income tax is still in place.