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If you could change the way our taxes are handled, how would you do it?

Discussion in 'Political Debate & Discussion' started by BigBossman, Feb 3, 2009.

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If you could change the way our taxes are handled, how would you do it?

  1. Income Tax (keep it the way it is currently)

    2 vote(s)
    10.0%

  2. Flat Tax

    6 vote(s)
    30.0%

  3. National Sales Tax

    8 vote(s)
    40.0%

  4. Other - Explain your answer

    4 vote(s)
    20.0%
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  1. BigBossman

    BigBossman Active Member

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    I'm just curious to know what people think about the way our government gets tax money from us. How would you choose to pay taxes? Explain in detail as to how you would want your option handled too. I'll go ahead & explain mine:

    I choose a national sales tax over the income or flat tax.
    Here's how would have it done:

    1. The tax would only apply to non-essential items (items not required for everyday living).

    2. Items exempt from national sales tax would be:
    A. Any food item
    B. Any beverage (except alcohol)
    C. Clothing under $50.00 (individual items)
    D. Fuel & oil
    E. School & office supplies (between July 1st - August 30th every year)

    3. Churches would still maintain their tax exempt status.

    4. The rate would be locked in at 10% to where no one in the future could raise it to line thier pockets. (I figure if God is supposed to get 10%, why should the government get more?)

    5. This form of taxation would tax people according to their spending habits & not penalize them on how much they make. A person could control how much tax they pay by controlling their spending habits.
     
    #1 BigBossman, Feb 3, 2009
    Last edited by a moderator: Feb 3, 2009
  2. rbell

    rbell Active Member

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    #2 rbell, Feb 3, 2009
  3. BigBossman

    BigBossman Active Member

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    I could be wrong, but isn't a fair tax like a flat tax?
     
    #3 BigBossman, Feb 3, 2009
  4. StefanM

    StefanM Well-Known Member
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    There is no way that government could generate sufficient revenues with a 10% tax.
     
    #4 StefanM, Feb 3, 2009
  5. sag38

    sag38 Active Member

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    The Fair Tax is the best plan that I've seen. However, it will never happen. Can you see the howls as thousads of tax prepareres lose thier jobs, as loan sharks who prey on the Earn Income Credit folks lose this lucrative source of income, as hundreds are no longer needed at the IRS, and many others who have thier dirty fingers in our tax system lose their jobs too.
     
    #5 sag38, Feb 3, 2009
  6. BigBossman

    BigBossman Active Member

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    The government would if they eliminated alot of their spending. They would also have to eliminate a good number of their bureaucracies. The government's purpose is to serve, not to make money off its citizens.
     
    #6 BigBossman, Feb 3, 2009
  7. StefanM

    StefanM Well-Known Member
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    Wasteful spending is one thing, but 10% is still very low. National defense would likely eat that up alone.
     
    #7 StefanM, Feb 3, 2009
  8. Revmitchell

    Revmitchell Well-Known Member
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    Where do you get your figures from?
     
    #8 Revmitchell, Feb 3, 2009
  9. BigBossman

    BigBossman Active Member

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    You make a valid point on that (national defense).

    We both know that The House, The Senate, & Chief Executive branches would say that they needed alot more than what they really need.

    I really use 10% as a general figure. If you think about it, I'm not sure how much revenue is received each year, but if the government receives $1 trillion & if they were to only get 10% of that, they would still have $100 billion dollars. When you are talking trillions & billions of dollars, 10% isn't that bad.
     
    #9 BigBossman, Feb 3, 2009
    Last edited by a moderator: Feb 3, 2009
  10. matt wade

    matt wade Well-Known Member

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    The fair tax would put the rate at about 23%. This would be "Revenue neutral". I.e., the government would get the same amount of money as they do now.

    http://www.fairtax.org/site/PageServer?pagename=about_faq_answers#5
     
    #10 matt wade, Feb 3, 2009
  11. ray Marshall

    ray Marshall New Member

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    Well, they wasted the money carelessly, so tel'em pay up and suffer.
     
    #11 ray Marshall, Feb 3, 2009
  12. Ps104_33

    Ps104_33 New Member

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    The current tax code is so complicated even Tom Daschle and Timothy Geithner dont understand it.
     
    #12 Ps104_33, Feb 3, 2009
  13. JustChristian

    JustChristian New Member

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    The only problem with a flat tax right now is that it would remove most of the financial incentive for buying a house since mortgage interest and real estate taxes would no longer be deductible. Creating a disincentive for buying real estate is not what we need right now.
     
    #13 JustChristian, Feb 3, 2009
  14. Salty

    Salty 20,000 Posts Club
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    The Best way to provide for govt income is:
    'Financial Transaction Tax - FTT' Click on the link:

    From the web site:
    Just one simple and moderate Debit Tax of ONE THIRD OF ONE PERCENT - 0.33% - added on all monies withdrawn provides the National Treasury with annual revenue of $99 BILLION.
    A Financial Transaction Tax of only 0.33% on DAILY withdrawals of $120 BILLION
    EQUALS
    $396 MILLION IN FEDERAL REVENUE DAILY
    OR EQUALS
    $99 BILLION IN FEDERAL REVENUE ANNUALLY​

    (These figures are based on the 1991 - 1992 Reserve Bank Reports of ​


    NON- CASH withdrawals)​

    The amount of CASH withdrawals made from ATM's and EFTPOS, and withdrawals made on weekends and public holidays are NOT taken into account here. It is estimated that a more realistic figure for 1995 is around $200 BILLION in withdrawals per WORKING DAY.
    **********************************

    Under this plan there are NO execptions. There woudl be a tax on food, cloting, everything. Churches and all other non-profits would pay,

    IF you pay by electronic means - ie check, credit card, debit card, automatic payments.

    NO tax on cash transactions.

    BUT on a transaction of $100, the tax would only be 33 cents!
     
    #14 Salty, Feb 3, 2009
  15. billwald

    billwald New Member

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    I propose to go to 100% electronic money and a 5% transaction tax on every transaction, half to be paid by each end. 90% of our "money" is already electronic transfer. New coins to issued up to $20 for leaving tips and buying newspapers, whatever. Coins heavy enough so that dope money and bribes would not fit in a suitcase.
     
    #15 billwald, Feb 3, 2009
  16. OldRegular

    OldRegular Well-Known Member

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    I favor the fair tax and repeal of the 16th amendment. it is not the government's business how much I make.
     
    #16 OldRegular, Feb 3, 2009
  17. Salty

    Salty 20,000 Posts Club
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    The problem with the FAIR tax is the prebate.

    That is just more goverment red tape. The purpose is to pay the fair tax for necessiaties.

    How many will get the prebate and then blow the money. At the end of the month/quarter - they wont have the $$ to buy food ect.

    If I'm not mistiaken, the tax would be 23%. So $100 of grocries would cost you $123.

    I still say the Transaction tax is the best. Remember it is only 1/3 of 1 percent!

    Lets see on $100:
    Fair tax $23.00 :BangHead:
    Trans tax $ 0.33 :thumbs:
     
    #17 Salty, Feb 3, 2009
  18. matt wade

    matt wade Well-Known Member

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    You are comparing apples to oranges. In your other post about the Transaction tax, you said the government would bring in 99billion dollars a year with this method. That's gonna be a problem...currently the government brings in over 2 trillion dollars a year. Your method would leave us severely under funded. The fair tax would raise 2.5 trillion dollars a year.

    $100 in groceries would not cost $123 dollars. Currently taxes are embedded in the $100 price you pay. When the companies that produce the groceries (farmers, distributers, stores) don't pay taxes the price on the goods will come down. I know you are going to say it won't, but the free market will work and the prices will come down.

    After prebate a normal family will have an effective tax rate of 17%.

    I don't understand your "At the end of the month/quarter - they wont have the $$ to buy food ect." statement. The get a prebate on taxes they spend on necessary items. That isn't money to buy the necessary items...they would still need to work to do that.
     
    #18 matt wade, Feb 3, 2009
  19. StefanM

    StefanM Well-Known Member
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    The FairTax would be an administrative nightmare, which is why it's never going to happen.
     
    #19 StefanM, Feb 3, 2009
  20. matt wade

    matt wade Well-Known Member

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    Please explain. What would be a nightmare about it?

    Currently most people who sell items collect a sales tax. They'll continue to do this. They send it to the government.

    The government cuts a check each month to each household for their prebate.

    Where's the nightmare?

    Do you actually think it will be more of an administrative nightmare than the current system?
     
    #20 matt wade, Feb 3, 2009
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