House to vote on Consumption Tax and abolish the IRS

[Ray From Cleveland]

Shut up. The only responsible party is the democrats. The Republicans are outrageously incompetent. The Democrats are far more balanced albeit not perfect.

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Why don't you try reading your charts better. The drastic increase in spending not only happened with a Democrat led House, but during the worst pandemic anybody alive in this country has ever seen.

 

[Ray From Cleveland]

Er they still wouldn't get taxed.

Why not? How would they escape an consumption tax?

 

[cnm]

With a consumption tax, nobody is able to escape it because no matter how you make money, it will get taxed when you make a purchase.

And the consumption tax will have to be raised to cover the loss of other taxes. The poor spend all their money, so their effective tax rate will rise. The rich don't spend all their income, their effective tax rate will drop.

 

[citygator]

Why don't you try reading your charts better. The drastic increase in spending not only happened with a Democrat led House, but during the worst pandemic anybody alive in this country has ever seen.

The spending went up before the pandemic and with both houses in the hand of the republicans.

 

[Ray From Cleveland]

And the consumption tax will have to be raised to cover the loss of other taxes. The poor spend all their money, so their effective tax rate will rise. The rich don't spend all their income, their effective tax rate will drop.

I think the rich spend much more money than the middle-class or poor. When our government wastes money, why should the middle-class and poor care? They won't have to pay it. Now if they have to pay for this spending, they will be more concerned about all this wasteful spending. They will finally have a dog in the race and that's a good thing.

 

[Ray From Cleveland]

The spending went up before the pandemic and with both houses in the hand of the republicans.

Are you blind or something. Your chart clearly shows that spending dramatically went up when we got hit with covid which was when Democrats held leadership of the House. It's the House that has the national checkbook, not the President. he only vetoes or signs off on their spending.

 

[cnm]

I think the rich spend much more money than the middle-class or poor.

All their income?

Yeah, right.

You don't really understand these concepts, do you? You're just cheering on your side without a clue in the whole wide world.

Anyone who doesn't spend all their income receives a tax decrease. Anyone who spends all their income receives a tax increase.

Give or take, depending on their spending and current tax scheme. But the tax burden on the poor will increase, I can guarantee that.

 

[citygator]

Are you blind or something. Your chart clearly shows that spending dramatically went up when we got hit with covid which was when Democrats held leadership of the House. It's the House that has the national checkbook, not the President. he only vetoes or signs off on their spending.

Of course it shows that Covid impacted the deficit. It also shows that when Trump took over and had both houses he spent money faster than Obama, thus the increasing deficit. Republicans never spend less. They just complain when they aren’t in power.

 

[Ray From Cleveland]

Of course it shows that Covid impacted the deficit. It also shows that when Trump took over and had both houses he spent money faster than Obama, thus the increasing deficit. Republicans never spend less. They just complain when they aren’t in power.

And Dementia is on his way to surpassing Trump's spending and there is no pandemic any longer. They are just wasting money on vote buying and shit we don't need. Without the recent 1.7 trillion, Dementia with his party in total power spent 3.8 trillion, and he hasn't been in office a full two years yet.

When Republicans had the House, the spending went for rebuilding the military DumBama let go to hell and tax cuts which is not actually spending. Compare that to what the Communists spent money on, stupid shit like tearing down a perfectly good bridge because they deemed the bridge is racist and rebuilding a new one. Over 100 billion that went to Ukraine, and how many hundreds of billions to fight something we can't control like climate change.

 

[Hurricanelover]

I want America to spend money on America. The rich need to pay more and provide better education for our children, better infrastructure and more investment. If we don't then china is going to be rolling their tanks down our streets. That is what loserterianism results in.

 

[Hurricanelover]

Not investing in America results in war and us being fucked in the ass by china.

 

[Ray From Cleveland]

I want America to spend money on America. The rich need to pay more and provide better education for our children, better infrastructure and more investment. If we don't then china is going to be rolling their tanks down our streets. That is what loserterianism results in.

The top 20% of wage earners in this country pay close to 90% of all collected income taxes. if that's not enough, what should they be paying? Keep in mind nearly half of our country pays no income tax at all.

 

[cnm]

Keep in mind nearly half of our country pays no income tax at all.

There aren't many states with 0% income tax rates

Most state governments in the United States collect a state income tax on all income earned within the state,​

Income Tax Rates By State 2025 - Tax-Rates.org

www.tax-rates.org

​

 

[Aldo Raine]

A national consumption tax would result in a big tax cut for the rich and a tax increase for the middle class. Republicans take care of the rich and powerful.

Can you elaborate on that? Not being a dick but I have read a little on the consumption tax but I am not seeing how it would favor the wealthy more.

 

[citygator]

And Dementia is on his way to surpassing Trump's spending and there is no pandemic any longer. They are just wasting money on vote buying and shit we don't need. Without the recent 1.7 trillion, Dementia with his party in total power spent 3.8 trillion, and he hasn't been in office a full two years yet.

When Republicans had the House, the spending went for rebuilding the military DumBama let go to hell and tax cuts which is not actually spending. Compare that to what the Communists spent money on, stupid shit like tearing down a perfectly good bridge because they deemed the bridge is racist and rebuilding a new one. Over 100 billion that went to Ukraine, and how many hundreds of billions to fight something we can't control like climate change.

No. Not even close.

Trump's Big Budget Deficit​

President Trump continued the trend of pushing the deficit higher as he sought massive tax cuts and increased defense spending. His first budget, for the 2018 fiscal year, recorded a deficit of $779 billion.4

Under Trump, the deficit reached $984 billion in 2019 and hit more than $1 trillion in 2020—and that was before Congress passed a $2 trillion stimulus package to fight the economic fallout from the coronavirus pandemic.412

Biden's Smaller Budget Deficit​

One of Joe Biden's campaign promises was to reduce the federal deficit, and there's been progress on this account. The Congressional Budget Office (CBO) estimated that the federal budget deficit was $475 billion in the first five months of fiscal year 2022, which represented an amount lower than those for the years 2021 and 2020.

"It is less than half the shortfall recorded for the same months of fiscal year 2021 ($1.047 billion) and three-quarters of the deficit recorded in 2020 ($624 billion), just before the start of the coronavirus pandemic," noted the CBO. The turnaround is due to more robust revenues and fewer expenses—from October 2021 through February 2022, revenues were $371 billion (or 26%) higher, and outlays were $201 billion (or 8 percent) lower than they were during the same period a year ago," CBO estimates.

MerleFest

MerleFest, considered one of the premier music festivals in the country, is a celebration of “traditional plus” music.

merlefest.org

 

[Moonglow]

The implementation of a flat tax would be the single greatest thing to happen to our country in generations...

Why? People already pay sales taxes.

 

[Aldo Raine]

Democrats are never for shrinking government, only growing it. Statistics show that federal workers overwhelmingly vote Democrat. Closing down the IRS would shrink government and likely Democrat voters, so they would fight this tooth and nail to it's grave.

When exactly has a Rethugikkkon shrunk the debt in modern times? I will wait!

 

[Aldo Raine]

That would be if each American spent the same amount in purchases, which of course is not reality. If I buy a $250,000 home and a rich guy buys a 1.5 million dollar home, what I don't pay in the consumption tax, the wealthy will.

There are a lot of people that make money doing cash jobs and illegal money making like drugs, prostitution, gambling and so on. With a consumption tax, nobody is able to escape it because no matter how you make money, it will get taxed when you make a purchase.

Interesting, are there any exceptions or loop holes in this basic plan? I would assume food at the least would be excluded.

 

[Ray From Cleveland]

Interesting, are there any exceptions or loop holes in this basic plan? I would assume food at the least would be excluded.

It didn't go into it that deep. But as you know, we have a consumption tax over here and the only way around it is if you leave the county. Unless it's a big ticket item and you live near the border you're not going to save that much. With a national consumption tax, that would be near impossible to do unless you go into Canada or Mexico, and the border cops check your vehicle now and then for cigarettes and alcohol and things like that.

When my mother was working she was a waitress. She often got unfairly taxed because during the Reagan administration they placed an automatic tax on tips whether you got them or not. At one point our tax guy told my parents it's not worth her time to go to work. After taxes she's almost working for free.

 

[Ray From Cleveland]

No. Not even close.

Trump's Big Budget Deficit​

President Trump continued the trend of pushing the deficit higher as he sought massive tax cuts and increased defense spending. His first budget, for the 2018 fiscal year, recorded a deficit of $779 billion.4

Under Trump, the deficit reached $984 billion in 2019 and hit more than $1 trillion in 2020—and that was before Congress passed a $2 trillion stimulus package to fight the economic fallout from the coronavirus pandemic.412

Biden's Smaller Budget Deficit​

One of Joe Biden's campaign promises was to reduce the federal deficit, and there's been progress on this account. The Congressional Budget Office (CBO) estimated that the federal budget deficit was $475 billion in the first five months of fiscal year 2022, which represented an amount lower than those for the years 2021 and 2020.

"It is less than half the shortfall recorded for the same months of fiscal year 2021 ($1.047 billion) and three-quarters of the deficit recorded in 2020 ($624 billion), just before the start of the coronavirus pandemic," noted the CBO. The turnaround is due to more robust revenues and fewer expenses—from October 2021 through February 2022, revenues were $371 billion (or 26%) higher, and outlays were $201 billion (or 8 percent) lower than they were during the same period a year ago," CBO estimates.

MerleFest

MerleFest, considered one of the premier music festivals in the country, is a celebration of “traditional plus” music.

merlefest.org

U.S. National Debt by President

Check out how the national debt has increased by year and president. Depending on how you measure it, the answers may differ.

www.thebalancemoney.com