Solve all problems in one fell swoop... Consumption tax

[Care4all]

The fact is that a consumption tax would be very feasible. You need to educate yourself.

It would not be feasible, as a sole means to collecting federal revenues to fund the annual expenditures.

And if the consumption tax was in addition to the federal income tax, it would raise our taxes, and if you are going to just raise taxes on us, why not do it with the tax collecting system we have now, instead of creating an additional new govt bureaucracy to do it?

 

[Blaster]

It would not be feasible, as a sole means to collecting federal revenues to fund the annual expenditures.

And if the consumption tax was in addition to the federal income tax, it would raise our taxes, and if you are going to just raise taxes on us, why not do it with the tax collecting system we have now, instead of creating an additional new govt bureaucracy to do it?

Our national debt is too high with bloated non-essential services. It is time to shrink government.

 

[Care4all]

And, in my figures if yearly consumption at $19 trillion, THAT INCLUDES THE CONSUMPTION OF FOOD. And if food is exempted, as it is now at the register, with state sales taxes because it is immoral, you would likely need a 70% consumption tax put on the rest that is consumed to pay for what our govt spends each year.

And of course ALL OF THOSE TAXES will reduce consumption sales and defeat the purpose....with a recession or depression.

It's simply not a good idea....

 

[MarathonMike]

The easiest and most efficient answer to all of the problems that are dominating the news and our political culture of late is simply to change the way we tax the country. A consumption based tax will not only triple the revenue but also eliminate the entire idea of illegal alien entry. Once everyone has skin in the game the resentment will disappear, nobody will mind. There's nothing like partnership to chase away personal resentment and there's nothing like favoritism to make resentment grow.

The frantic screams from marxists and socialists that such a tax would not be progressive is nothing more than class jealousy and the age old stupidity of hating the rich in order to feel sorry for the poor.

There is no question that it is the most efficient way to Garner monetary support for the government from the masses that are ruled by it.
The rich would still pay the Lion's share like they do now but the great big gap in the lower income groups who pay nothing would quickly vanish.

Supply and demand would regulate the tax rate quite nicely. We already have an army of tax collectors out there at the cash registers of every retail establishment in the nation.

The IRS could be reduced to 10% of its size.
Crazy tax burdens could be eliminated and the hundreds of billions spent every year on bookkeeping done away with.

Jo

Yes, a consumption tax would increase tax revenue and greatly simplify our absurdly complicated taxes. This has been floated as a Federal tax alternative for at least 40 years. It will never happen because the people who make the laws (Congress) will never vote to dismantle the trillion dollar industry full of tax lawyers, tax preparers, tax repairers, etc.

 

[leftwinger]

10% tax on $2k rent adds $200. Car insurance (lol! Mexicans and kids don't have clean paper) cost $50-$100 per year. Going to tax food? Utilities? All transactions? Medical. Single mothers with 9 kids pay 10% on kool-aid-aid and diapers? Toilet paper shoots up to $22 at Costco?

But no Income tax? "They" dont work anyways?

 

[Care4all]

Our national debt is too high with bloated non-essential services. It is time to shrink government.

It's been time to cut waste for decades now.

We send, NOW $40 billion to Argentina which we will not get back, we build $200 million dollar plus, ballrooms, we retrofit $1 billion dollar palace in the sky airplanes, we spend $70,000 per each immigrant deported and lose their productivity contribution to the market place by a bloated to the hilt, homeland security budget larger than most all Nations in the world's defense budgets, we fund both Israel and Palestinians, we spend hundreds of millions on the president's golfing outings at his resorts, we spent $200 million on praise Trump ads right after he was elected with the homeland security budget, we gave a tax cut for mostly benefiting the wealthy at $2 trillion dollars over ten years, we have birthday parades for the president costing millions, we call up our military also costing millions for domestic, local law enforcing and power and might displays...and that ain't even the tip of the iceberg, for certain!

We right now, have a BIG SPENDER on himself and friends President...all considered waste imo.

 

[Blaster]

It's been time to cut waste for decades now.

We send, NOW $40 billion to Argentina which we will not get back, we build $200 million dollar plus, ballrooms, we retrofit $1 billion dollar palace in the sky airplanes, we spend $70,000 per each immigrant deported and lose their productivity contribution to the market place by a bloated to the hilt, homeland security budget larger than most all Nations in the world's defense budgets, we fund both Israel and Palestinians, we spend hundreds of millions on the president's golfing outings at his resorts, we spent $200 million on praise Trump ads right after he was elected with the homeland security budget, we gave a tax cut for mostly benefiting the wealthy at $2 trillion dollars over ten years, we have birthday parades for the president costing millions, we call up our military also costing millions for domestic, local law enforcing and power and might displays...and that ain't even the tip of the iceberg, for certain!

We right now, have a BIG SPENDER on himself and friends President...all considered waste imo.

All your venom is aimed at the Republican party. Folks like you are what is hurting America. I think as an independent.

 

[leftwinger]

It's been time to cut waste for decades now.

We send, NOW $40 billion to Argentina which we will not get back, we build $200 million dollar plus, ballrooms, we retrofit $1 billion dollar palace in the sky airplanes, we spend $70,000 per each immigrant deported and lose their productivity contribution to the market place by a bloated to the hilt, homeland security budget larger than most all Nations in the world's defense budgets, we fund both Israel and Palestinians, we spend hundreds of millions on the president's golfing outings at his resorts, we spent $200 million on praise Trump ads right after he was elected with the homeland security budget, we gave a tax cut for mostly benefiting the wealthy at $2 trillion dollars over ten years, we have birthday parades for the president costing millions, we call up our military also costing millions for domestic, local law enforcing and power and might displays...and that ain't even the tip of the iceberg, for certain!

We right now, have a BIG SPENDER on himself and friends President...all considered waste imo.

All BS as usual. One Obiden vacation in seperate 747 with entourage eats up $100B yu dumb OX every month for a6 years do math.

 

[leftwinger]

President Trump does not give money away. I would bet $20B to Argentina will flow back in one way or another rather quickly. PC sales, military hardware, soybeans.

The art of the deal of which you know less than nothing.

 

[Care4all]

Yes, a consumption tax would increase tax revenue and greatly simplify our absurdly complicated taxes. This has been floated as a Federal tax alternative for at least 40 years. It will never happen because the people who make the laws (Congress) will never vote to dismantle the trillion dollar industry full of tax lawyers, tax preparers, tax repairers, etc.

A consumption tax is not simple either...you have to decide what to tax, what is exempt, if it will be a flat tax or also be higher on luxuries, you have to decide how much and whom will get a check from the govt to compensate for the consumption tax not allowing them to even feed themselves...which is part of every consumption plan that I have seen proposed...a rebate check for the poor, you have to set up a system for all store registers and online check outs to include the tax, and a system to send the customers tax, to the federal govt...and set up an auditing system to make certain the states are all doing it, everywhere in the state....it's endless as well and a costly transition

And MOST IMPORTANTLY a consumption tax on just consumable material goods and not on services as well, will fall very short on revenues needed for the budget and be extremely regressive, and reduce taxes on the wealthy who spend most of their monies on non durable goods...on services....and the likes....will buying stocks be taxed?...too many unanswered questions imo.

 

[justoffal]

A consumption tax is not simple either...you have to decide what to tax, what is exempt, if it will be a flat tax or also be higher on luxuries, you have to decide how much and whom will get a check from the govt to compensate for the consumption tax not allowing them to even feed themselves...which is part of every consumption plan that I have seen proposed...a rebate check for the poor, you have to set up a system for all store registers and online check outs to include the tax, and a system to send the customers tax, to the federal govt...and set up an auditing system to make certain the states are all doing it, everywhere in the state....it's endless as well and a costly transition

And MOST IMPORTANTLY a consumption tax on just consumable material goods and not on services as well, will fall very shirt on revenues needed for the budget and be extremely regressive, and reduce taxes on the wealthy who spend most of their monies on non durable goods...on services....and the likes....will buying stocks be taxed?...too many unanswered questions imo.

You do make some very good points.
However the current system is also failing and failing fast.

 

[Care4all]

All your venom is aimed at the Republican party. Folks like you are what is hurting America. I think as an independent.

Then give me your examples..., I'm all ears...

and what I listed, which was for this year's wasteful spending that I have witnessed, was NOT even the tip of the iceberg on what this country wastes.

 

[Care4all]

You do make some very good points.
However the current system is also failing and failing fast.

It didn't fail us that terribly before say...Reagan or even as far back as Kennedy... when tax rates were higher on those incomes earned over certain higher levels....the rich still got richer, and we had a closer to balanced budget.

But you are correct, it is failing us...mainly with new added exemptions/deductions for each congressman's favored donor or favored local corporation or industry, each year, and lowering tax rates on corporations who never lowered their prices for us, after their humongous tax break....

We need to increase taxes collected, whether by eliminating deductions, or increasing tax rates, and for the dear Lord's sake, we need to eliminate real waste and abuse which reduces our spending.

 

[Care4all]

All BS as usual. One Obiden vacation in seperate 747 with entourage eats up $100B yu dumb OX every month for a6 years do math.

Phony numbers, in fact impossible numbers...silly one!
FAKE NEWS.

 

[MarathonMike]

A consumption tax is not simple either...you have to decide what to tax, what is exempt, if it will be a flat tax or also be higher on luxuries, you have to decide how much and whom will get a check from the govt to compensate for the consumption tax not allowing them to even feed themselves...which is part of every consumption plan that I have seen proposed...a rebate check for the poor, you have to set up a system for all store registers and online check outs to include the tax, and a system to send the customers tax, to the federal govt...and set up an auditing system to make certain the states are all doing it, everywhere in the state....it's endless as well and a costly transition

And MOST IMPORTANTLY a consumption tax on just consumable material goods and not on services as well, will fall very short on revenues needed for the budget and be extremely regressive, and reduce taxes on the wealthy who spend most of their monies on non durable goods...on services....and the likes....will buying stocks be taxed?...too many unanswered questions imo.

Those are fair points. Nothing on the scale of Federal taxation is simple. The additional revenue raised I believe would easily provide for lower income consumers.

But in reality, the tax code is a monster that has grown to the point that it is probably unchangeable. Aside from the fact that the lawmakers themselves have no desire to change it.

 

[justoffal]

Those are fair points. Nothing on the scale of Federal taxation is simple. The additional revenue raised I believe would easily provide for lower income consumers.

But in reality, the tax code is a monster that has grown to the point that it is probably unchangeable. Aside from the fact that the lawmakers themselves have no desire to change it.

Yep....
Billions would be saved just an IRS expenditures alone.

 

[Winston]

All BS as usual. One Obiden vacation in seperate 747 with entourage eats up $100B yu dumb OX every month for a6 years do math.

So, we spend 1.2 billion dollars a year on Obama's Secret Service protection?

 

[Dekster]

The current national debt equals roughly 5.2T hours of labor at federal minimum wage. That is roughly 15,300 hours of labor per person or 7.5 years of each person's life working at 40 hours per week. That is the only intrinsic value of money--it directly or indirectly buys labor.

 

[justoffal]

The current national debt equals roughly 5.2T hours of labor at federal minimum wage. That is roughly 15,300 hours of labor per person or 7.5 years of each person's life working at 40 hours per week. That is the only intrinsic value of money--it directly or indirectly buys labor.

Yeah .... We can't work our way out of it.
Collapsing the dollar system is really the only alternative. And yes the man-hour is the oldest and truest currency there is.