Sales Taxes

[Orangecat]

No he is alluding to percent for their income. A million dollars a year sniff at sales tax compared for a person on 40 grand a year.

That depends on how much spending each person does, not their income.

 

[Blues Man]

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

The revenue wouldn't be nearly as much as you think. The number of people saving for retirement in stocks would decline precipitously.

People would look for other ways to invest, like lottery tickets, greyhound racing and beanie babies.

IRA’s and 401ks are tax free. Retirees will continue to invest.

The money generated from the wealthy will help pay for healthcare, education, infrastructure

A net win

No they aren't tax free.

They are tax deferred.

Retirees will pay regular income tax on every red cent in those accounts

 

[Orangecat]

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

Why is that such a problem?

 

[Blues Man]

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.

Which is why all that need to be done is to exempt necessities like food, clothing, medicine, and utilities from the sales tax that way lower income people actually pay less tax

 

[Blues Man]

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

Why is that such a problem?

These people think that if one person pays 75% of his income to live that everyone should have 75% of their income taken from them

 

[Orangecat]

It will keep the wealthy from protecting their riches

What wrong with people wanting to protect the money they've earned from marxist wealth redistribution?

 

[Orangecat]

I‘m thinking of Government providing services like we used to before we sold out to Supply Side Economics
Modern infrastructure, low cost healthcare, affordable higher education

Only children and losers think the government should provide things that adults have historically done for themselves.

 

[Orangecat]

They will benefit much more from public services

 

[Blues Man]

 

[Orangecat]

These people think that if one person pays 75% of his income to live that everyone should have 75% of their income taken from them

Marxist useful idiots.

 

[Supposn]

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Orangecat, "business" expenditures reduce taxpayers' taxable incomes and there are many tax reduction items more available to wealthier taxpayers.
individuals' purchases rather than paid income taxes are more accurate indications of their incomes or wealth. Respectfully, Supposn

 

[rightwinger]

I‘m thinking of Government providing services like we used to before we sold out to Supply Side Economics
Modern infrastructure, low cost healthcare, affordable higher education

Only children and losers think the government should provide things that adults have historically done for themselves.

Like modern infrastructure?
Good schools?

 

[Orangecat]

Only children and losers think the government should provide things that adults have historically done for themselves.

Like modern infrastructure?
Good schools?

Like healthcare, income, housing, and food.

 

[rightwinger]

Only children and losers think the government should provide things that adults have historically done for themselves.

Like modern infrastructure?
Good schools?

Like healthcare, income, housing, and food.

Good things for a modern society

 

[Blues Man]

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Orangecat, "business" expenditures reduce taxpayers' taxable incomes and there are many tax reduction items more available to wealthier taxpayers.
individuals' purchases rather than paid income taxes are more accurate indications of their incomes or wealth. Respectfully, Supposn

There are no extra deductions on the personal tax returns of the wealthy.

 

[rightwinger]

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Orangecat, "business" expenditures reduce taxpayers' taxable incomes and there are many tax reduction items more available to wealthier taxpayers.
individuals' purchases rather than paid income taxes are more accurate indications of their incomes or wealth. Respectfully, Supposn

There are no extra deductions on the personal tax returns of the wealthy.

Then why is the form so fucking long?

 

[Blues Man]

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Orangecat, "business" expenditures reduce taxpayers' taxable incomes and there are many tax reduction items more available to wealthier taxpayers.
individuals' purchases rather than paid income taxes are more accurate indications of their incomes or wealth. Respectfully, Supposn

There are no extra deductions on the personal tax returns of the wealthy.

Then why is the form so fucking long?

The 1040 isn't that long

 

[rightwinger]

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Orangecat, "business" expenditures reduce taxpayers' taxable incomes and there are many tax reduction items more available to wealthier taxpayers.
individuals' purchases rather than paid income taxes are more accurate indications of their incomes or wealth. Respectfully, Supposn

There are no extra deductions on the personal tax returns of the wealthy.

Then why is the form so fucking long?

The 1040 isn't that long

See the forms it refers you to?

 

[Polishprince]

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Working people spend a larger percentage of their income than the wealthy. They have to.

And the wealthy spend far more actual money than the poor, which equates to a far bigger portion of actual tax revenue under a consumption tax.

Orangecat, "business" expenditures reduce taxpayers' taxable incomes and there are many tax reduction items more available to wealthier taxpayers.
individuals' purchases rather than paid income taxes are more accurate indications of their incomes or wealth. Respectfully, Supposn

There are no extra deductions on the personal tax returns of the wealthy.

Then why is the form so fucking long?

The reason why the form is so long is that the government uses tax policy to influence other economic actions by the taxpayers. There are credits for all sorts of things the government wants to encourage or discourage.

 

[rightwinger]

The reason why the form is so long is that the government uses tax policy to influence other economic actions by the taxpayers. There are credits for all sorts of things the government wants to encourage or discourage.

Its the “Golden Rule”
He who has the Gold makes the rules

Not many deductions or exemptions in there for regular working folk