Doing away with income tax... !

Jarod

Jarod

Well-known member
Contributor
I am all for it, I belive this tax is of the most unfair. It hits the person who is doing exactly what they should be doing, working for a living. It limits single generational upward or downward mobility.

But the government still needs $, so where should we make up the difference?

I belive the most fair place is with inhertance tax. This is money that is no longer in the hands of those who earned it.

Any other fair ideas? I perfer something that does not hit the poor more than the rich...!
 
if you eliminate the income tax the only possible way you could still raise 2.6T the government needs for their bloated spending is with consumption taxes
 
Chapdog said:
if you eliminate the income tax the only possible way you could still raise 2.6T the government needs for their bloated spending is with consumption taxes
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Okay, then lets lower income tax and increase consumption tax on luxuary items such as cars over $50,000 and pleasure boats and private jets and such!
 
An estate tax of any size large enough to fund the federal government would pretty much get rid of inheritance in America. The estate tax is also intrinsically unfair; why should a family of people who usually die at 70 be taxed more than a family of people who usually die at 120?

A consumption tax would be good. You could even give back rebates, to make it into a progressive.
 
Well think about it, Jarod. If we had a consumption tax of 20%-30%, and we gave a rebate back large enough so that a family who made 30K or 40K a year would basically pay not taxes, wouldn't we have a progressive tax system?
 
Watermark said:
An estate tax of any size large enough to fund the federal government would pretty much get rid of inheritance in America. The estate tax is also intrinsically unfair; why should a family of people who usually die at 70 be taxed more than a family of people who usually die at 120?

A consumption tax would be good. You could even give back rebates, to make it into a progressive.
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I like that rebate idea and make it progressive. I just belive strongly that income tax henders the one thing we try to encourage, getting ahead with hard work.

People I know who work hard are the middle class, the rich people I know work much less and live off family money.
 
the best thing would be to:
1) shrink the military and overall reform of social programs.. - brings us down to like 1.5T of spending
2) tax ss on 200plus income - refunds and solves ssi problem
3) perhaps a flat tax of 10% with deductions still intact.. add consumption tax.
4) increase deductions for personal savings.

should be an overall reduction for the poor and middle classes up to 200k or so.. and a break even / increase for the rich.
 
Chapdog said:
the best thing would be to:
1) shrink the military and overall reform of social programs.. - brings us down to like 1.5T of spending
2) tax ss on 200plus income - refunds and solves ssi problem
3) perhaps a flat tax of 10% with deductions still intact.. add consumption tax.
4) increase deductions for personal savings.

should be an overall reduction for the poor and middle classes up to 200k or so.. and a break even / increase for the rich.
Click to expand...

How is that going to make it more likely that the hard working will get ahead, while those who dont work hard will fall behind?
 
because hard working people will be less inclined to buy items thus there savings will be far greater.
 
Chapdog said:
because hard working people will be less inclined to buy items thus there savings will be far greater.
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Lets just find a way to gradually do away with income tax and increase other more fair taxes. Id love to do away with most inhertance in America. It causes too many nare-do-wells who do not contribute as much to society as they could or should. Let those who work hard benefit from the work, not those whose great grandparents raped and pillaged.
 
Chapdog said:
the best thing would be to:
1) shrink the military and overall reform of social programs.. - brings us down to like 1.5T of spending
2) tax ss on 200plus income - refunds and solves ssi problem
3) perhaps a flat tax of 10% with deductions still intact.. add consumption tax.
4) increase deductions for personal savings.

should be an overall reduction for the poor and middle classes up to 200k or so.. and a break even / increase for the rich.
Click to expand...

1.5T is hard to do.
 
Jarod said:
I am all for it, I belive this tax is of the most unfair. It hits the person who is doing exactly what they should be doing, working for a living. It limits single generational upward or downward mobility.

But the government still needs $, so where should we make up the difference?

I belive the most fair place is with inhertance tax. This is money that is no longer in the hands of those who earned it.

Any other fair ideas? I perfer something that does not hit the poor more than the rich...!
Click to expand...

That's fine with me.

I doubt I'll be getting an inheritance.
 
people will just move there assets out of the country and change citizenship before they let the us government double tax there money upon their death. only people who pay the price are the ones that have land.
 
Chapdog said:
people will just move there assets out of the country and change citizenship before they let the us government double tax there money upon their death. only people who pay the price are the ones that have land.
Click to expand...

Good point, but we have been successfull, for the most part, at preventing that type of thing with income? People dont, for the most part, get there income via other nations to avoid income tax!
 
The inheritance tax is not the answer. At a certain point, it's immoral (imo), and wouldn't come close to generating the revenues we need.

You could start moving toward more of a consumption-related tax, but I think income tax has to be part of the equation. I am for setting a cap on the income tax at 33%.
 
i know when i have 50M in the bank when im 95years old I will just move it to a different country.. no way in hell im letting govt get their greedy hands on my savings.
 
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