Sales Taxes

Sales Taxes:
individuals' annual purchases rather than their paid income taxes, are more accurate indications of their comparative proportional incomes and wealth.
Sales taxes are only regressive in comparison to income taxes, when levied upon those who do not otherwise pay income taxes, (i.e. upon those of much less or no taxable incomes).
[Depending upon the product purchased and the drafting of the law, sales taxes can to some extent be drafted to effectively be greater or lesser regressive].

At some point increases of tax revenues less justify the economic consequences of the increases; those points differ for different tax schemes and their purposes. It's my opinion those points are of comparatively lesser rates for sales taxes rather than taxes on incomes or upon almost any other matters. I also believe it's desirable for all while in the USA, and all USA citizens to the extent we're able, should be equitably required to contribute to our tax revenues.

Respectfully, Supposn
Sales taxes are regressive because poor people spend all or most of their money and wealthy folks do not.

Next.
Poor people also pay the same rate as the wealthy. Just what conservatives want on income tax.

Poor and working people have to spend a large percentage of their earnings on purchases
The wealthy can’t buy that much “stuff”


Actually, you have things half ass backwards.

Wealthy people buy a lot more stuff and a lot more expensive stuff. Very few poor people buying Bentleys, they are saving money by looking for a used Yugo instead.
Actually the Fair tax proposal would not tax used goods at all so that poor guy buying a used car wouldn't have to pay sales tax on it.

Instead of the government taxing the same money multiple times the sales tax is only applied once.
 
Sales Taxes:
individuals' annual purchases rather than their paid income taxes, are more accurate indications of their comparative proportional incomes and wealth.
Sales taxes are only regressive in comparison to income taxes, when levied upon those who do not otherwise pay income taxes, (i.e. upon those of much less or no taxable incomes).
[Depending upon the product purchased and the drafting of the law, sales taxes can to some extent be drafted to effectively be greater or lesser regressive].

At some point increases of tax revenues less justify the economic consequences of the increases; those points differ for different tax schemes and their purposes. It's my opinion those points are of comparatively lesser rates for sales taxes rather than taxes on incomes or upon almost any other matters. I also believe it's desirable for all while in the USA, and all USA citizens to the extent we're able, should be equitably required to contribute to our tax revenues.

Respectfully, Supposn
Sales taxes are regressive because poor people spend all or most of their money and wealthy folks do not.

Next.
Poor people also pay the same rate as the wealthy. Just what conservatives want on income tax.

Poor and working people have to spend a large percentage of their earnings on purchases
The wealthy can’t buy that much “stuff”


Actually, you have things half ass backwards.

Wealthy people buy a lot more stuff and a lot more expensive stuff. Very few poor people buying Bentleys, they are saving money by looking for a used Yugo instead.
Actually the Fair tax proposal would not tax used goods at all so that poor guy buying a used car wouldn't have to pay sales tax on it.

Instead of the government taxing the same money multiple times the sales tax is only applied once.
I pay sales tax now on a used car
 
Wealthy people buy a larger quantity of and more expensive goods so they would pay more sales taxes.

They still end up paying a much smaller portion of their total income

Not really since the poor pay zero income tax now.

Get rid of all the deductions and tax all income at a lower rate. Really what sense does it make to tax income at 25% only to have to give some of it back every year?

Make the income tax 7 or 8 % or better yet get rid of it and institute a national sales tax that exempts the necessities like food clothing and medicine. Since poor people spend most of their income on necessities they will actually be paying less in taxes
 
Stock Transactions are investments, not purchases.
Then stop buying and selling them.

Next.

If people stop investing in business, who will provide the money for manufacturing, farming, commerce, mining? Big government? Is a bureaucrat or politician better at determining what a good idea to risk money at than investors in the market.

The idea of punishing people for doing the right thing and saving for their retirement doesn't seem to be very wise. How do you think having millions more impoverished seniors living in the homes of their younger relatives going to work out?
You think a one percent tax on stock transactions will stop the, from buying? They already pay more than that in brokerage fees
The wealthy can hide their income and capital gains. They can’t stop investing their money and buying and selling huge quantities

Not everyone pays brokerage fees.

I sure as hell don't

And you can't hide capital gains to avoid taxes. If you sell an asset for a profit you will pay the CG tax.
You tell me
If I make $100,000 on a stock and use the profit to buy another stock do I pay capital gains or only when I cash out the stock?

In any case capital gains are taxed at a lower rate than earned income. It shouldn’t be
 
Sales Taxes:
individuals' annual purchases rather than their paid income taxes, are more accurate indications of their comparative proportional incomes and wealth.
Sales taxes are only regressive in comparison to income taxes, when levied upon those who do not otherwise pay income taxes, (i.e. upon those of much less or no taxable incomes).
[Depending upon the product purchased and the drafting of the law, sales taxes can to some extent be drafted to effectively be greater or lesser regressive].

At some point increases of tax revenues less justify the economic consequences of the increases; those points differ for different tax schemes and their purposes. It's my opinion those points are of comparatively lesser rates for sales taxes rather than taxes on incomes or upon almost any other matters. I also believe it's desirable for all while in the USA, and all USA citizens to the extent we're able, should be equitably required to contribute to our tax revenues.

Respectfully, Supposn
Sales taxes are regressive because poor people spend all or most of their money and wealthy folks do not.

Next.
Poor people also pay the same rate as the wealthy. Just what conservatives want on income tax.

Poor and working people have to spend a large percentage of their earnings on purchases
The wealthy can’t buy that much “stuff”


Actually, you have things half ass backwards.

Wealthy people buy a lot more stuff and a lot more expensive stuff. Very few poor people buying Bentleys, they are saving money by looking for a used Yugo instead.
Actually the Fair tax proposal would not tax used goods at all so that poor guy buying a used car wouldn't have to pay sales tax on it.

Instead of the government taxing the same money multiple times the sales tax is only applied once.
I pay sales tax now on a used car
And under the Fair Tax plan you wouldn't
 
Stock Transactions are investments, not purchases.
Then stop buying and selling them.

Next.

If people stop investing in business, who will provide the money for manufacturing, farming, commerce, mining? Big government? Is a bureaucrat or politician better at determining what a good idea to risk money at than investors in the market.

The idea of punishing people for doing the right thing and saving for their retirement doesn't seem to be very wise. How do you think having millions more impoverished seniors living in the homes of their younger relatives going to work out?
You think a one percent tax on stock transactions will stop the, from buying? They already pay more than that in brokerage fees
The wealthy can hide their income and capital gains. They can’t stop investing their money and buying and selling huge quantities

Not everyone pays brokerage fees.

I sure as hell don't

And you can't hide capital gains to avoid taxes. If you sell an asset for a profit you will pay the CG tax.
You tell me
If I make $100,000 on a stock and use the profit to buy another stock do I pay capital gains or only when I cash out the stock?

In any case capital gains are taxed at a lower rate than earned income. It shouldn’t be
You have to sell one stock before you can use the proceeds to buy another.


IF the stocks are held in a qualified retirement account like an IRA you can buy and sell stocks with no capital gains because all the gains will be taxed as regular income in retirement.

In private portfolios you can't avoid the CG taxes
 
Stock Transactions are investments, not purchases.
Then stop buying and selling them.

Next.

If people stop investing in business, who will provide the money for manufacturing, farming, commerce, mining? Big government? Is a bureaucrat or politician better at determining what a good idea to risk money at than investors in the market.

The idea of punishing people for doing the right thing and saving for their retirement doesn't seem to be very wise. How do you think having millions more impoverished seniors living in the homes of their younger relatives going to work out?
You think a one percent tax on stock transactions will stop the, from buying? They already pay more than that in brokerage fees
The wealthy can hide their income and capital gains. They can’t stop investing their money and buying and selling huge quantities


Increasing taxes on any activity reduces that activity.

This is why the estimates of the amount of money a tax will generate are usually greater than what is actually realized. Putting a tax on investing and saving will reduce that activity , just like putting a high tax on cigarettes reduced the number of pell mells people bought and smoked.
 
Stock Transactions are investments, not purchases.
Then stop buying and selling them.

Next.

If people stop investing in business, who will provide the money for manufacturing, farming, commerce, mining? Big government? Is a bureaucrat or politician better at determining what a good idea to risk money at than investors in the market.

The idea of punishing people for doing the right thing and saving for their retirement doesn't seem to be very wise. How do you think having millions more impoverished seniors living in the homes of their younger relatives going to work out?
Invest in business.

When you buy and sell stocks repeatedly you aren't investing in business, you buying and selling stocks. Pay sales tax.
 
Sales Taxes:
individuals' annual purchases rather than their paid income taxes, are more accurate indications of their comparative proportional incomes and wealth.
Sales taxes are only regressive in comparison to income taxes, when levied upon those who do not otherwise pay income taxes, (i.e. upon those of much less or no taxable incomes).
[Depending upon the product purchased and the drafting of the law, sales taxes can to some extent be drafted to effectively be greater or lesser regressive].

At some point increases of tax revenues less justify the economic consequences of the increases; those points differ for different tax schemes and their purposes. It's my opinion those points are of comparatively lesser rates for sales taxes rather than taxes on incomes or upon almost any other matters. I also believe it's desirable for all while in the USA, and all USA citizens to the extent we're able, should be equitably required to contribute to our tax revenues.

Respectfully, Supposn
Sales taxes are regressive because poor people spend all or most of their money and wealthy folks do not.

Next.
Poor people also pay the same rate as the wealthy. Just what conservatives want on income tax.

Poor and working people have to spend a large percentage of their earnings on purchases
The wealthy can’t buy that much “stuff”


Actually, you have things half ass backwards.

Wealthy people buy a lot more stuff and a lot more expensive stuff. Very few poor people buying Bentleys, they are saving money by looking for a used Yugo instead.
Actually the Fair tax proposal would not tax used goods at all so that poor guy buying a used car wouldn't have to pay sales tax on it.

Instead of the government taxing the same money multiple times the sales tax is only applied once.
I pay sales tax now on a used car
Me too.
 
Stock Transactions are investments, not purchases.
Then stop buying and selling them.

Next.

If people stop investing in business, who will provide the money for manufacturing, farming, commerce, mining? Big government? Is a bureaucrat or politician better at determining what a good idea to risk money at than investors in the market.

The idea of punishing people for doing the right thing and saving for their retirement doesn't seem to be very wise. How do you think having millions more impoverished seniors living in the homes of their younger relatives going to work out?
You think a one percent tax on stock transactions will stop the, from buying? They already pay more than that in brokerage fees
The wealthy can hide their income and capital gains. They can’t stop investing their money and buying and selling huge quantities

Not everyone pays brokerage fees.

I sure as hell don't

And you can't hide capital gains to avoid taxes. If you sell an asset for a profit you will pay the CG tax.
You tell me
If I make $100,000 on a stock and use the profit to buy another stock do I pay capital gains or only when I cash out the stock?

In any case capital gains are taxed at a lower rate than earned income. It shouldn’t be
Only when it's gets taken out of the market.
 
Stock Transactions are investments, not purchases.
Then stop buying and selling them.

Next.

If people stop investing in business, who will provide the money for manufacturing, farming, commerce, mining? Big government? Is a bureaucrat or politician better at determining what a good idea to risk money at than investors in the market.

The idea of punishing people for doing the right thing and saving for their retirement doesn't seem to be very wise. How do you think having millions more impoverished seniors living in the homes of their younger relatives going to work out?
Invest in business.

When you buy and sell stocks repeatedly you aren't investing in business, you buying and selling stocks. Pay sales tax.
It is pure speculation
Pay a fee on each transaction
 
Stock Transactions are investments, not purchases.
Then stop buying and selling them.

Next.

If people stop investing in business, who will provide the money for manufacturing, farming, commerce, mining? Big government? Is a bureaucrat or politician better at determining what a good idea to risk money at than investors in the market.

The idea of punishing people for doing the right thing and saving for their retirement doesn't seem to be very wise. How do you think having millions more impoverished seniors living in the homes of their younger relatives going to work out?
Invest in business.

When you buy and sell stocks repeatedly you aren't investing in business, you buying and selling stocks. Pay sales tax.
It is pure speculation
Pay a fee on each transaction


I suppose that the millenials will have no problem supporting the old timers and having them in their homes when they are destitute?


To me, its best for people to save for their own retirement, instead of ending up as an indigent geezer.

I guess that's what libs want, however.
 
Stock Transactions are investments, not purchases.
Then stop buying and selling them.

Next.

If people stop investing in business, who will provide the money for manufacturing, farming, commerce, mining? Big government? Is a bureaucrat or politician better at determining what a good idea to risk money at than investors in the market.

The idea of punishing people for doing the right thing and saving for their retirement doesn't seem to be very wise. How do you think having millions more impoverished seniors living in the homes of their younger relatives going to work out?
Invest in business.

When you buy and sell stocks repeatedly you aren't investing in business, you buying and selling stocks. Pay sales tax.
It is pure speculation
Pay a fee on each transaction


I suppose that the millenials will have no problem supporting the old timers and having them in their homes when they are destitute?


To me, its best for people to save for their own retirement, instead of ending up as an indigent geezer.

I guess that's what libs want, however.
Kind of being hyperbolic aren’t you?
No, a small fee on transactions will not put old people in the poor house
It will keep the wealthy from protecting their riches
 
Sales Taxes:
individuals' annual purchases rather than their paid income taxes, are more accurate indications of their comparative proportional incomes and wealth.
Sales taxes are only regressive in comparison to income taxes, when levied upon those who do not otherwise pay income taxes, (i.e. upon those of much less or no taxable incomes).
[Depending upon the product purchased and the drafting of the law, sales taxes can to some extent be drafted to effectively be greater or lesser regressive].

At some point increases of tax revenues less justify the economic consequences of the increases; those points differ for different tax schemes and their purposes. It's my opinion those points are of comparatively lesser rates for sales taxes rather than taxes on incomes or upon almost any other matters. I also believe it's desirable for all while in the USA, and all USA citizens to the extent we're able, should be equitably required to contribute to our tax revenues.

Respectfully, Supposn
Sales taxes are regressive because poor people spend all or most of their money and wealthy folks do not.

Next.
Poor people also pay the same rate as the wealthy. Just what conservatives want on income tax.

Poor and working people have to spend a large percentage of their earnings on purchases
The wealthy can’t buy that much “stuff”


Actually, you have things half ass backwards.

Wealthy people buy a lot more stuff and a lot more expensive stuff. Very few poor people buying Bentleys, they are saving money by looking for a used Yugo instead.
Actually the Fair tax proposal would not tax used goods at all so that poor guy buying a used car wouldn't have to pay sales tax on it.

Instead of the government taxing the same money multiple times the sales tax is only applied once.
I pay sales tax now on a used car
And under the Fair Tax plan you wouldn't
Is there a Fair Tax Plan that doesn’t end up making the working class pay more and the rich pay less?
 
Sales Taxes:
individuals' annual purchases rather than their paid income taxes, are more accurate indications of their comparative proportional incomes and wealth.
Sales taxes are only regressive in comparison to income taxes, when levied upon those who do not otherwise pay income taxes, (i.e. upon those of much less or no taxable incomes).
[Depending upon the product purchased and the drafting of the law, sales taxes can to some extent be drafted to effectively be greater or lesser regressive].

At some point increases of tax revenues less justify the economic consequences of the increases; those points differ for different tax schemes and their purposes. It's my opinion those points are of comparatively lesser rates for sales taxes rather than taxes on incomes or upon almost any other matters. I also believe it's desirable for all while in the USA, and all USA citizens to the extent we're able, should be equitably required to contribute to our tax revenues.

Respectfully, Supposn
Sales taxes are regressive because poor people spend all or most of their money and wealthy folks do not.

Next.
Poor people also pay the same rate as the wealthy. Just what conservatives want on income tax.

Poor and working people have to spend a large percentage of their earnings on purchases
The wealthy can’t buy that much “stuff”


Actually, you have things half ass backwards.

Wealthy people buy a lot more stuff and a lot more expensive stuff. Very few poor people buying Bentleys, they are saving money by looking for a used Yugo instead.
Actually the Fair tax proposal would not tax used goods at all so that poor guy buying a used car wouldn't have to pay sales tax on it.

Instead of the government taxing the same money multiple times the sales tax is only applied once.
I pay sales tax now on a used car
And under the Fair Tax plan you wouldn't
Is there a Fair Tax Plan that doesn’t end up making the working class pay more and the rich pay less?
Yeah it's called the Fair Tax.

Look it up
 
Stock Transactions are investments, not purchases.
Then stop buying and selling them.

Next.

If people stop investing in business, who will provide the money for manufacturing, farming, commerce, mining? Big government? Is a bureaucrat or politician better at determining what a good idea to risk money at than investors in the market.

The idea of punishing people for doing the right thing and saving for their retirement doesn't seem to be very wise. How do you think having millions more impoverished seniors living in the homes of their younger relatives going to work out?
Invest in business.

When you buy and sell stocks repeatedly you aren't investing in business, you buying and selling stocks. Pay sales tax.
It is pure speculation
Pay a fee on each transaction


I suppose that the millenials will have no problem supporting the old timers and having them in their homes when they are destitute?


To me, its best for people to save for their own retirement, instead of ending up as an indigent geezer.

I guess that's what libs want, however.
Kind of being hyperbolic aren’t you?
No, a small fee on transactions will not put old people in the poor house
It will keep the wealthy from protecting their riches

1% isn't a "small fee" at all. Its actually quite high will billions of shares of stock being traded on every business day.

Most pension funds trade stocks back and forth all the time, as checks are written, the formula gets out of balance and contributions are received. Stock purchases aren't a "one time " expense.
 
I also believe it's desirable for all while in the USA, and all USA citizens to the extent we're able, should be equitably required to contribute to our tax revenues.

Respectfully, Supposn
I also believe it's desirable for all while in the USA, and all USA citizens to the extent we're able, should be equitably required to pay the least amount of taxes possible.

Government is inefficient, bloated, corrupt and out of control. It is that way all levels. Spending is way out of control and unnecessary.

It is our responsiblity to fight big government and hold the elected officials accountable
 
Stock Transactions are investments, not purchases.
Then stop buying and selling them.

Next.

If people stop investing in business, who will provide the money for manufacturing, farming, commerce, mining? Big government? Is a bureaucrat or politician better at determining what a good idea to risk money at than investors in the market.

The idea of punishing people for doing the right thing and saving for their retirement doesn't seem to be very wise. How do you think having millions more impoverished seniors living in the homes of their younger relatives going to work out?
Invest in business.

When you buy and sell stocks repeatedly you aren't investing in business, you buying and selling stocks. Pay sales tax.
It is pure speculation
Pay a fee on each transaction


I suppose that the millenials will have no problem supporting the old timers and having them in their homes when they are destitute?


To me, its best for people to save for their own retirement, instead of ending up as an indigent geezer.

I guess that's what libs want, however.
Kind of being hyperbolic aren’t you?
No, a small fee on transactions will not put old people in the poor house
It will keep the wealthy from protecting their riches

1% isn't a "small fee" at all. Its actually quite high will billions of shares of stock being traded on every business day.

Most pension funds trade stocks back and forth all the time, as checks are written, the formula gets out of balance and contributions are received. Stock purchases aren't a "one time " expense.
Exactly
Think of the revenue that would be generated

It will become the cost of doing business
 

Forum List

Back
Top