How about this %0 income tax idea?

[Heavy]

I heard alittle bit about this a few days ago but missed most of the discussion. I guess the theory behind this is to jack up sales tax way up and it would also cut out on people working off the books.

Thihs a good idea or not?

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[HBox]

Have you ever seen the sales taxes in Canada? It would just give people a different thing to bitch about.

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[Aggie]

Well, there's no state income tax in Texas but there is an 8.25% tax on pretty much everything I buy. I don't know if I'd want that to be federal though. I can't imagine how high it might get.

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This message was edited by Aggie on 7-30-03 @ 12:19 PM

[TheMojoPin]

What's the estimate as to how high it would make sales taxes? And would there be TWO sales taxes, one state and one federal?

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[DarkHippie]

Hmmm . . . then to pay less taxes, you only have to buy less?

This doesn't sound very healthy for the economy.

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[Heavy]

Well I think I'd buy more stuff if they didnt take $400 a week out of my check. In any case this does make sense if you consider that people with higher incomes spend more and therefor would pay more in taxes, and "luxury" items like sports cars, boats, jewerly etc would carry the highest taxes. I mean how often does the avg middle income person buy somehting with a diamond in it? A few times in his life maybe.

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This message was edited by johneewadd on 7-30-03 @ 8:57 PM

[Recyclerz]

Here's a pretty good summary discussion. It is from a right-wing web site and about 10 years old but is a pretty good analysis IMO

Consumption Tax (http://www.econlib.org/library/Enc/ConsumptionTax.html)

I like this idea a lot better than the flat tax ones that get passed around. The biggest plus is that it would encourage savings and probably encourage the largest number of working poor to accumulate some wealth. (As a commie symp liberal that is important to me.) The negatives are that the system would be somewhat regressive and it would be difficult to enforce. In Europe, with the VAT, there is always a thriving black market. However, couple it with a re-instatement of the estate tax over say a threshold of $ 5 mil and I'm in. :)



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This message was edited by Recyclerz on 7-30-03 @ 9:57 PM

[Heavy]

I'm not sure if you covered this in your post, mostly because i wasnt concerned enough to read it thoroughly, but in Europe (I blieve all of Europe, but definatly in Germany) they have a furniture tax. So if you drive around during the week before you can pick up some nice things, sometimes branfuckinew, because the owner had a run of bad luck and cant afford to pay the tax on it.

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[high fly]

carpet tacks are cool.
heart attacks are not cool.

" and they ask me why I drink"

[DJEvelEd]

carpet tacks are cool.


I guess you've never stepped on one.

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[high fly]

Yeah, you're right DJ. They're also in the way a lot when you do remodelling.
Carpet tacks now in the uncool column.

" and they ask me why I drink"

[Doctor Manhattan]

make pot legal and tax the hell out of it. Also tax Booze and Cigarettes. then 0% on everything else (or at least food and clothes and other essentials).



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[furie]

I like getting that fat tax refund back mid-summer. granted it's my own money. it's like a forced christmas club account.

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