Left vs right

[Iriemon]

Sure do. Since we are in two wars, let us reinstate the tax structure of WW2 until both are done.

Virtually every democratic capitalistic system in the world has a progressive income tax. It works. If you find it so objectionable, I suggest you go to a nation where it does not exist.

Income tax like pens are obsolete. Fairness is the best way rich will
pay more because they want things not just money. Give aways
are always abused and never appreciated so even the poor would have to pay something oh yea Rocks now your in my world I know
how to make money might not be able to recite all the bullshit you can but I know how to acquire wealth in the free market place..
Taxes only hampers growth--Tax me to much and I will roll up the carpet and wait 4 or 8 years to lay another carpet.. Just like most things you only check out part of the idea Americans For Fair Taxation: Americans for Fair Taxation and follow you nose if you can find it

Finally something with some numbers; is the Fair Tax an across the board 23% tax? That's what I read.

It's really a 30% tax that the look at the internal rate to make it look like a lower figure.

So if something costs $100 now it sounds like it will cost $123 after the tax, right? No, it will cost $130. Rather than looking at the tax relative to the pre-tax cost ($100) they compare it to the after-tax cost ($130) and say the tax rate is only 23% (30/130).

It's a bit deceptive. However, they point out it is a valid number to compare to our current system. If you make $100k and pay $25k in taxes, we think of that as a 25% tax rate, though if you compare it to your after tax income it si 33% (25/75). There is some validity to that point.

 

[Iriemon]

I have a better way.

The editecian 100% inheritance tax.

No taxes to be paid AT ALL during your lifetime, but a 100% taxation at death.

All money goes to the state to be totally distributed into the bank accounts into the National FED (that is actually a public bank) of the each citizen, every quarter.

How do our governments support themselves, you ask?

Excellent question. Same way they've been expecting education to do it....bake sales.

Just kidding..same way they did if for the first 150 years or so by imposing tariffs.

NOw I hear people bitch about taxes all the time.

But oddly, when I give them a surefire way to end all taxes, none of my wealthy scion chums buy into that.

Wonder why?

Oh, yeah, that's right...because they are already wealthy and know they don't really pay all that much in taxes.

And the thought of a meritocratic society where everyone REALLY has a chance of making it scares the hell out of them.

Although I do agree with reinstating the inheritance tax--100% is totally unacceptable.

In fact, I disagree with taxations of any kind that takes away 50% or more from an individual/corporation(yep, even with the Cigarette makers and the Bonus hogs over at AIG should not recieve over 50% taxation on their earnings.)

Do not forget, the deceased have family,friends and ceremonial preparations that could be paid for by the deceased. In fact, One could institute an inheritance tax in which the Government is treated like a step child(no kids, spouses, friends thought about--then Charities,Church, civic groups the individual were apart of in life recieve the bulk of the money, and government behaves like one such group. )


But government, nor the redistribution of the money into the general society(by the way, not everyone has a bank account, so not everyone will recieve the money) is a sensible approach.

I guess the thing is, you shouldn't be so pro-gov. Inheritance is characterized as an individual matter--Contributions to the collective should be small if any.

A 50% tax rate wasn't necessary when the Govt debt was $5.7 trillion. A 40% tax rate was just fine. With the Govt now $11 trillion in debt, we are getting closer to when a 50% rate will be necessary.

But those tax cuts were nice back then.