I now support a consumption tax over a flat tax......

[orogenicman]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

 

[Nutz]

So you want to punish the rich with a consumption tax...or are you already thinkng of ways to give breaks for high priced luxury items?

They already pay most of the taxes anyway, how would a consumption tax be a punishment? They could just not buy as much if they thought they were paying too much.

I can appreciate the idea...but it wouldn't work simply because there will be loopholes...so the most expensve items will be taxed less while everyday items will be taxed more. Loophole free...great system - but I can see corruption.

 

[Nutz]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

 

[Brain357]

hmm, on the surface I'd say I'd support a consumption tax.

Sadly I don't see it flying because of the rate it would have to be set at to cover our current expenses would likely be pretty crazy sounding. Plus all those people who pay no federal tax now, would have to pay "extra"; they'd be pissed and they outnumber us...

Yes it would be interesting to see a rate. And since the lowest income people pay nothing now I don't see how they could pay nothing with a consumption tax. So it would have to be a tax increase for the poorest.

It's been discussed many times. Food would not be taxed. If you're poor, you don't buy luxury and non-essential items anyway. If you have enough money to buy booze, you have enough money to pay the tax on it. If you don't, you have no business buying it in the first place.

How many different rates would a business have to keep track of? I'm assuming it would be calculated at checkout.

It would be a federal tax. There might be state taxes too but there would only be one rate for the federal.

So it would be all or nothing? Food no tax. Alcohol or a sports car would be the same rate?

 

[orogenicman]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

 

[Brain357]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

Yes sales tax is the same rate whether rich or poor. And is a higher % of a poor persons income than a rich person.

 

[Pop23]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

They have a constitional mandate to protect U.S. citizens, but no, they don't need to know what's in my closet to fulfill said mandate.

 

[Pop23]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

Yes sales tax is the same rate whether rich or poor. And is a higher % of a poor persons income than a rich person.

As a %?

Um, no

 

[Nutz]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

What am sayng is the government doesn't need to know how much each individual makes in order to crunch the numbers.

 

[Pop23]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

Yes sales tax is the same rate whether rich or poor. And is a higher % of a poor persons income than a rich person.

You have heard of the prebate? Right?

 

[Pop23]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

What am sayng is the government doesn't need to know how much each individual makes in order to crunch the numbers.

Income can be reported without a tax on it.

 

[S.J.]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

So, what's wrong with that, other than you can't stick your nose into everyone's business and monitor everything they do?

 

[orogenicman]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

They have a constitional mandate to protect U.S. citizens, but no, they don't need to know what's in my closet to fulfill said mandate.

They also have a constitutional mandate to regulate commerce. How many times do I have to say it?

 

[orogenicman]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

What am sayng is the government doesn't need to know how much each individual makes in order to crunch the numbers.

Income can be reported without a tax on it.

Ands where is the money going to come from to run the government?

 

[Brain357]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

Yes sales tax is the same rate whether rich or poor. And is a higher % of a poor persons income than a rich person.

As a %?

Um, no

Poor people tend to have to spend all of their income. Rich people do not.

 

[orogenicman]

The economist who wrote this book.....

Popular Economics What the Rolling Stones Downton Abbey and LeBron James Can Teach You about Economics John Tamny 9781621573371 Amazon.com Books

...was on the Dennis Prager radio show today.....he once again pointed out the advantages of a consumption tax over a flat tax...and of course it makes sense....you get all your money that you work for, and only get taxed on the things you buy.....he pointed out that this way the government doesn't know how much you make, and it is a great way to cut off how much money the government can take from us in taxes.....

the whole point for me is that we need to starve the beast....giving them more tax money doesn't fix the problem....

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

What am sayng is the government doesn't need to know how much each individual makes in order to crunch the numbers.

Try it yourself and see if it actually works.

 

[orogenicman]

The government has a constitutional mandate to regulate commerce. That would be impossible if they didn't know how much income people have at their disposal.

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

Yes sales tax is the same rate whether rich or poor. And is a higher % of a poor persons income than a rich person.

As a %?

Um, no

Poor people tend to have to spend all of their income. Rich people do not.

Poor people tend to have more overhead relative to their income. In other words, it takes more of a poor man's income to pay rent than it does the rich, to whom the poor is usually paying their rent.

 

[S.J.]

I don't agree with that one...they could figure out a lot just from taxes collected...but what happens in a recession when people aren't buyng. What happens to savings...will the interest rates remain the same or will the Treasury department cut the rates because it is more of a benefit to the nation if they do NOT save and spend that money Will it cause inflaton?

A consumption tax is nothing more than a sales tax, which is well known to be a regressive tax. Does the government know how much you pay in sales tax? No it doesn't. It only knows that a transaction took place, and someone paid the sales tax on that transaction.

Yes sales tax is the same rate whether rich or poor. And is a higher % of a poor persons income than a rich person.

As a %?

Um, no

Poor people tend to have to spend all of their income. Rich people do not.

Poor people tend to have more overhead relative to their income. In other words, it takes more of a poor man's income to pay rent than it does the rich, to whom the poor is usually paying their rent.

Translation: How are we gonna make the workers support the non-workers?

 

[Nutz]

I am not against a consumpton tax...but I can't see it being effective. Know a hybrid of a flat tax and a consumption tax on luxury items, alcohol, taxes, and abortions....that could work. 5% tax across the board...the rest to be made up on a luxury item consumption tax. That would include cars, homes, watercraft, tampons, jewelry, mayonnaise...you get the point....the only thing that would have to get approved each year by Congress would be the items on the luxury tax list.

In addition, any product not made in the USA...an additional tax.

 

[Brain357]

I am not against a consumpton tax...but I can't see it being effective. Know a hybrid of a flat tax and a consumption tax on luxury items, alcohol, taxes, and abortions....that could work. 5% tax across the board...the rest to be made up on a luxury item consumption tax. That would include cars, homes, watercraft, tampons, jewelry, mayonnaise...you get the point....the only thing that would have to get approved each year by Congress would be the items on the luxury tax list.

In addition, any product not made in the USA...an additional tax.

Homes are a necessity.