Huckabee's fair tax

C

Chapdog

Abreast of the situations
Now that Huckabee and Thompson.. Republicans... have proposed a consumption tax (traditionally a very liberal idea.. look at Europe)...

Are all the dems on this board now anti consumption tax?
 
It won't fly, HR Block and those types will spend their last dime defeating it.

Pipe dream if you want though.
Many were dreaming when they voted for bush.
Kinda turned out to be a nightmare as well.
 
im sort of glad the republicans are saying they want it.. like dominoes the democrats will rally against it (even tho its much more progressive and will bring in more revenue).

I dont think i want this tax.
 
that would be wretched for the big consumers. cause you know we would still have investment taxes, our state taxes, social security and Medicare, and probably some flat tax.

Id get killed.
 
pass the consumption tax at the SAME time as you eliminate the income tax, no fed consumption tax on food, or medicine and I think it would be a fine idea. Lefties don't like it anymore cause it is toooooo hard to fund universal health care with a consumption tax. The people this really hurts are those with new car habits every 3 or 4 years and those that buy big ticket luxury items. I think USC is right though, tax prep people are going to revolt. Hell my accountant makes lots of money off of me and other like me doing our income taxes. She will still have to figure my state imcome tax and gross reciepts for the business but with no fed tax to figure she probably thinks she is in for lean times.
 
Chapdog said:
that would be wretched for the big consumers. cause you know we would still have investment taxes, our state taxes, social security and Medicare, and probably some flat tax.

Id get killed.
Click to expand...
So you like the IRS and Income tax BETTER?
 
Socrtease said:
pass the consumption tax at the SAME time as you eliminate the income tax, no fed consumption tax on food, or medicine and I think it would be a fine idea. Lefties don't like it anymore cause it is toooooo hard to fund universal health care with a consumption tax. The people this really hurts are those with new car habits every 3 or 4 years and those that buy big ticket luxury items. I think USC is right though, tax prep people are going to revolt. Hell my accountant makes lots of money off of me and other like me doing our income taxes. She will still have to figure my state imcome tax and gross reciepts for the business but with no fed tax to figure she probably thinks she is in for lean times.
Click to expand...
Imagine tax systems like CO that is based on a portion of what you pay to the feds...
 
im shocked that the republicans are taking ownership of this. I wouldnt have ever guessed Americas march to a duel tax would be driven by republicans.
 
Tax Reform and Social Security Reform are maybe the 2 most important issues, too bad no one will actually address them until it's too late.
 
Obfuscate said:
Tax Reform and Social Security Reform are maybe the 2 most important issues, too bad no one will actually address them until it's too late.
Click to expand...

in terms of social security reform its easy.

#1) tax income to no limits.. but add donut hole to middle class.
#2) make it binding that the SS money be separated from the general fund. Also assurances that you will get your SSI at 100% funding and at age thats determined now.
 
A flat tax is the way to go. Fixed rate at say 20%. Only deduction is a standard deduction. Say 30k per person. That eliminates the low income and lower middle income from paying taxes. It also eliminates any chance of the wealthy getting their effective tax rates below that of those that make less than them.

This rate would be on ALL income, whether from earned income, investment income, capital gains etc...

If a compromise is needed for Dems to get on board, then include a bump... 30% on all income over $5mm adjusted annually for inflation.
 
super - sounds like under that plan the government would be raking in far more then the 2.6T in 2007 they will get. How much do you think they need? And what are they going to do with the money?
 
Superfreak said:
A flat tax is the way to go. Fixed rate at say 20%. Only deduction is a standard deduction. Say 30k per person. That eliminates the low income and lower middle income from paying taxes. It also eliminates any chance of the wealthy getting their effective tax rates below that of those that make less than them.

This rate would be on ALL income, whether from earned income, investment income, capital gains etc...

If a compromise is needed for Dems to get on board, then include a bump... 30% on all income over $5mm adjusted annually for inflation.
Click to expand...


A flat tax is the way to go. Fixed rate at say 20%


That would be a massive tax increase on the middle class and the poor, if you replaced the federal income tax with a flat tax of 20%. I don't even pay 20% in federal income tax now. And I'm sure that anyone making under 50k, pays far, far less than 20% in federal income tax now. What you're suggesting is a massive tax increase that will disproportionatly impact the middle class and the working class. .
 
Chapdog said:
super - sounds like under that plan the government would be raking in far more then the 2.6T in 2007 they will get. How much do you think they need? And what are they going to do with the money?
Click to expand...

Yes they would. I would expect them to pay down the $9 trillion in debt so that WE pay for it rather than future generations.
 
You must log in or register to reply here.
Back
Top