Your fair share

[Salty]

We are told that we should pay our fair share

But exactly what is our fair share


POLL allows for multiple answers

THANKS

 

[Winman]

I voted the more dependents you have, the less % you pay. We have had 8 children, so that is 8 new taxpayers in the future. The more children you have, the more you contribute overall.

 

[LadyEagle]

I believe the fair way is for everyone to have skin in the game, a fair tax. Do away with Federal Income Tax and everyone pay a flat Federal Sales Tax on whatever you buy, excluding prescription medicine, principal residence, and food. The Rich consume more so would be paying more. Poor people should have to pay something, not get tax refunds when they don't pay into the system, IMO.

 

[blackbird]

I believe the fair way is for everyone to have skin in the game, a fair tax. Do away with Federal Income Tax and everyone pay a flat Federal Sales Tax on whatever you buy, excluding prescription medicine, principal residence, and food. The Rich consume more so would be paying more. Poor people should have to pay something, not get tax refunds when they don't pay into the system, IMO.

Federal Sales tax is probably the most logical of all avenues----it doesn't take a Rocket Scientist to figure that one out----which perhaps is the reason congress and "O" hasn't caught on!!

But a quick question----wouldn't a Federal sales tax put a damper on our desire to purchase luxeries--such as cars, pleasure boats, etc????

 

[InTheLight]

I believe the fair way is for everyone to have skin in the game, a fair tax. Do away with Federal Income Tax and everyone pay a flat Federal Sales Tax on whatever you buy, excluding prescription medicine, principal residence, and food. The Rich consume more so would be paying more. Poor people should have to pay something, not get tax refunds when they don't pay into the system, IMO.

The Fair Tax would be the biggest tax cut for the wealthy in history! The rich do not consume the equivalent of their taxation in a one year period.

 

[Salty]

...But a quick question----wouldn't a Federal sales tax put a damper on our desire to purchase luxeries--such as cars, pleasure boats, etc????

Lets just take cars - about 16 million a year are sold.
for easy computation, lets say that the average price is $20,000. If the tax is 1/2 of 1 % the tax on a car would be $100 dollars per car - 16 million cars would bring in 160 million dollars. The point is to keep the tax rate low -

 

[preachinjesus]

Taxes are the price we pay for living in a civilized society.

They are also, imho, a pox on humanity and I will do everything I can to legally reduce my tax burden.

Recently, because of legal accounting methods, I've dropped my taxable income level to nearly a 0% tax bracket. I don't like taxes. I pay plenty. Everytime I buy something, fill up, almost anything involves multiple lines of taxation.

We've really become the exact kind of society we opposed in 1776.

 

[Salty]

What we need to do is to stop so much spending......

 

[LadyEagle]

The Fair Tax would be the biggest tax cut for the wealthy in history! The rich do not consume the equivalent of their taxation in a one year period.

The rich are the ones paying for yachts, etc. (Remember John Kerry's yacht??) The rich usually have multiple homes, not just 1 principal residence. The rich also usually purchase multiple automobiles, expensive jewelry, race horses, real estate investments, expensive clothing, etc. (Remember the "private jet owners?")

On the other hand, I would also like to point out that if the rich are too heavily taxed, they will move off shore, such as the corporations have been doing - all perfectly legal - according to the tax code as it now exists.

The tax code needs overhauled. Long overdue.

 

[Matt Black]

Sales taxes tend to disproportionately hit the poor if levied on things other than luxuries. So, it depends what you mean by a sales tax...

There is also the point that taxes pay for services and the sort of society successful entrepeneurs need to make their millions, such as a good education system, law enforcement agencies, trasnport and other infrastructure etc. If you really don't like taxes, then there are one or two places to which I can suggest you might wish to relocate where none are paid, for example, Mogadishu. Any takers? No? Funny that...which is I guess why Bill Gates set up Microsoft in Seattle rather than Somalia...

 

[Salty]

I see that two people vote that the rich should pay a higher %. Just curious, what % of tax those two folks pay?

 

[Matt Black]

I voted thus and I pay higher rate income tax again now (I used to prior to the credit crunch/ recession(s)/ downturn/ whatever you want to call it but then didn't between 2008-11 because of my business taking a hit).

 

[InTheLight]

The rich are the ones paying for yachts, etc. (Remember John Kerry's yacht??) The rich usually have multiple homes, not just 1 principal residence. The rich also usually purchase multiple automobiles, expensive jewelry, race horses, real estate investments, expensive clothing, etc. (Remember the "private jet owners?")

The rich do not consume the equivalent of their taxation in a one year period. Furthermore, the rich do not buy houses (or yachts, or race horses) every year. Investments are exempt under the Fair Tax. Also, the Fair Tax proposals I've see would treat a mortgage as an investment so only the down payment on the property would be subject to taxation.

The Fair Tax would be the biggest brake on economic growth ever conceived. Who would want to spend money if every time you spent you were taxed 25% of the purchase price? The barter system would flourish. Cash transactions for "used" goods would skyrocket. (Used goods would be exempt.) You think people are doing their best to avoid taxes now? Just imagine how much harder they will try to avoid a consumption tax if every time they open their wallet to buy something new they will be taxed. Solution? Don't open the wallet.

 

[saturneptune]

The rich do not consume the equivalent of their taxation in a one year period. Furthermore, the rich do not buy houses (or yachts, or race horses) every year. Investments are exempt under the Fair Tax. Also, the Fair Tax proposals I've see would treat a mortgage as an investment so only the down payment on the property would be subject to taxation.

The Fair Tax would be the biggest brake on economic growth ever conceived. Who would want to spend money if every time you spent you were taxed 25% of the purchase price? The barter system would flourish. Cash transactions for "used" goods would skyrocket. (Used goods would be exempt.) You think people are doing their best to avoid taxes now? Just imagine how much harder they will try to avoid a consumption tax if every time they open their wallet to buy something new they will be taxed. Solution? Don't open the wallet.

I used to think a consumption tax was a good idea, but no more. Purchasing items drives the economy as do jobs. I get so tired of hearing about the evils of the rich. Why should we be jealous because they figured out how to make more money than us? On top of that, where does everyone think paychecks come from? A money tree?

I am all for laws that enforce fairness and stop excessive greed, but the whole Democrat agenda, besides being totally immoral, is a class system argument. It is me the average worker vs the rich evil CEO. Has anyone ever heard the saying about biting the hand that feeds you? If one is that jealous, then go out and make that amount of money. God gave everyone a brain.

To me, the focal point of this campaign comes down to this. Do you have ny pride in self accomplishment and a job well done, or do you want a baby sitter from cradle to grave?

 

[LadyEagle]

Well said, SN.

ITL, you weren't talking about MY Fair Tax proposal, just ones you have read about. I would make all ladies exempt, lol.

 

[Matt Black]

LOL! Does that mean that we can deprive you of the vote - kind of a reverse of the 'no taxation without representation' principle? :tongue3:

 

[FR7 Baptist]

The Fair Tax is unconstitutional because it is a direct tax that is not apportioned among the several States.

 

[billwald]

Why do some of you think pensions should be taxed but not social security?

Why do some of you think that social security is NOT a pension? You agree with me that SS is a universal welfare program? IfSSt is not welfare and not a pension, then what is it?

 

[LadyEagle]

LOL! Does that mean that we can deprive you of the vote - kind of a reverse of the 'no taxation without representation' principle?

:laugh:

@billwald: Old people shouldn't have to pay any tax. I say that because I am getting old, lol.