Epic Relief

[AKIron]

One can only hope.

http://www.foxnews.com/story/0,2933,140076,00.html

[ra]

It's a great idea, but no income tax means no deducting your mortgage interest payments.   A lot of people say "no way" when they hear that.

ra

[Toad]

It's good they're at least talking about doing away with the IRS.

Don't think that's going to happen and I don't even think it would be best right out of the box.

I still favor a combo flat rate income tax coupled to a national sales tax.

[AKS\/\/ulfe]

Wouldn't a flat rate income tax severly cut down on the amount of money the government gets through taxes? Not that I have a problem with that, they have programs that need to be released back to the cesspool they emerged from... but wouldn't that pose a problem initially, along the lines of a lot of unemployment and in turn a failing economy due the rapid growth in unemployment on a large scale?

Surely you don't propose to tax everyone 50% to make ends meet?
-SW

[AKIron]

To be fair the sales tax must somehow be graduated or there must be some folks exempt. Certain food items for example or those living below poverty level should be exempt. Did you read how much we currently spend on collecting taxes? $400 billion annually. I think it would take only a tiny fraction of that to collect sales tax.



I'm closer to retirement age than many here and this will likely   reduce my retirement income. Still, I think this could be very good for the country overall.

[Muckmaw1]

How did the government raise money before the introduction of the income tax?

[Toad]

That's why I said a combo of sales and flat income tax.

Last I heard they were thinking ~15% flat and ~10% sales.

Muck, primarily indirect taxes. "Imposts, excises, and, in general, all duties upon articles of consumption" as Hamilton said.

[ra]

Property taxes, tariffs, stuff like that.

[AKIron]

One interesting thing to consider.

"Rev.13:

16:  And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

17: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name."


A national sales tax could bring us closer to making this a possibility.

[Chairboy]

Originally posted by Muckmaw1
How did the government raise money before the introduction of the income tax?

First, the expenses were smaller per capita, even adjusted for inflation, because the US foreign policy was limited to recognizing embassies from other countries.

My understanding, and correct me if my schooling is incorrect, is that the income taxes being collected began to increase (as a percentage) dramatically around World War I and have been heading upwards since.  I would speculate, if that's true, that government spending in other departments came about incrementally in bits and pieces because the large numbers attached to keeping a world class military properly trained and equipped made other tiny projects seem suddenly affordable.  Eg, 'Well, if the military can receive the princely sum of $1 MILLION dollars to modernize the inventory of Springfields, then $50,000 is a mere pitt-ance to be requested for funding this gentle-man's new (insert government program here)".

That's my theory, anyhow.

[mars01]

National Sales tax is bad!!!!!


The reason they want to get away from an income tax is partially due to the lack of income tax they will get because the reduced incomes we get due to all of the offshoring etc.

[ra]

The reason they want to get away from an income tax is partially due to the lack of income we will get because all of the offshoring etc.

Huh?  Reduced income means reduced tax revenue regardless of how you collect it.

[ra]

Originally posted by AKIron
One interesting thing to consider.

"Rev.13:

16:  And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

17: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name."


A national sales tax could bring us closer to making this a possibility.

I'll have what you're drinking.

[vorticon]

Originally posted by AKIron
One interesting thing to consider.

"Rev.13:

16:  And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

17: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name."
 

that qoute has been thrown at damn near everything...time to find a new one, maybe...

[mars01]

Huh? Reduced income means reduced tax revenue regardless of how you collect it.

Indirectly and in a much smaller scale then it is now.  No matter what you still have to buy so they get their tax.  

If your income is reduced enough, you pay no tax.