National Sales Tax Plan (Fair Tax Act)

[riverc 1,106]

What's y'all opinion on this?

[jeepwm69 7,233]

I like it IF (and this is a HUGE if) they use it to REPLACE other taxes and not stack it on top of all the taxes we already pay.  I also think sales tax on food and medicine should not exist, as those are items that the poor have to have to survive.

 

Consumption taxes shift the majority of the tax to the wealthy, as they are consumption taxes.  In that regard, the wealthy still pay the overwhelming majority of taxes.  The poor, only buying necessities, would still pay little to nothing in taxes.

 

The biggest benefit would be we can CHOOSE to not consume as much, and thus CHOOSE how much we pay in taxes. 

 

That said, it will never happen.  The political class view it as all theirs, and they won't give any of it up.  They pit the rich against the poor, and doing this would harm that constructed conflict that keeps the politicians pitting us against one another instead of against them.

 

Property tax is the most egregious of all the taxes.  You never own your property.  You rent it from the state.  They can take it via imminent domain, they can raise the taxes to the point that you can't afford to keep your property, and if you don't pay your "rent" they will seize your property.  

[riverc 1,106]

Well Jeep don't think it's going nowhere even if it did pass Biden would veto it. It's got it pros & cons, one thing I do like about it is getting rid of the IRS always sticking their nose in people's business. Less government we have the better the country would be without them. I do not like the Federal Government they corrupt from top to bottom on both sides that's why Imo we need term limits.

 

 

 

 

Edited January 28 by riverc

[Goober 1,555]

I think the having a national sales tax would take us a step closer to a cashless society 

[Bighanded 1,220]

nope...it won't float.  But the other worry is that they can decide how much the tax is.

 

they might try to sell the bill to the public as 10% for example..but once they get you hooked, the fine print would say that they can raise as needed..and given the current level of debt, that exceeds our GDP, they would tell us the rate now needs to be 42%.

 

oh..and btw...the largest general consumer group happens to be the black community, that conversely are that lower wealth segment. So this in fact might impact them harder than we'd think.

that means any tax bill would be written by folks that understand this,embed conditions into it ,  and that know they can't endanger their voting base.

[jeepwm69 7,233]

I have briefly looked over the 1040 I’m going to have to submit for this year.

 

I lost my middle kids child tax credit this year because she turned 17 last year. Last year that credit was eligible for anyone under 18, this year it is 17.

 

last year you could deduct charitable contributions up to $600 even if you took the standard deduction. This year you cannot deduct charitable contributions unless you itemize your taxes.

 

last year the child tax credit was 3600, this year it is 2000.

 

But the Democrats only tax the rich right?

[jeepwm69 7,233]

Not to mention that simply by getting married again, my filing status changed from head of household, costing me thousands more. They reward staying single if you have children

These seemingly minor changes will cost us thousands this year. We are not wealthy. Comfortable, but not wealthy.

 

15% to the feds, another 5-6 to the state, 11% sales tax, and another 3% give or take for property taxes

 

So if I had a national sales tax that was anywhere under 35–40% I would be better off.

 

If people ever stopped and figured up what we pay in taxes and more importantly, what we are getting for those tax dollars, tea would get tossed in the harbor again.

 

Dividing all of these taxes up is by design, to keep the serfs working and not realizing how much is stolen from them.

 

Right now people are still comfortable. When people start becoming less comfortable, the political class will rightfully see some pressure and maybe some tar and feathers

 

 

[56Sierra 1,812]

People are rapidly becoming less comfortable.   Either you're not saving as much or you're not spending as much.  The latter causes a recession which causes companies to lay off employees which further exacerbates the recession.   I'm being more careful what I buy, especially food.  If it gets much worse I'll go back to hunting for some of my food.

 

Since Covid the prices have gone up and the quality down.  But corporate profits are on the rise.

 

You're right that a consumption tax will never get passed.   To many loopholes would be closed.

[jeepwm69 7,233]

16 hours ago, 56Sierra said:

People are rapidly becoming less comfortable.   Either you're not saving as much or you're not spending as much.  The latter causes a recession which causes companies to lay off employees which further exacerbates the recession.   I'm being more careful what I buy, especially food.  If it gets much worse I'll go back to hunting for some of my food.

 

Since Covid the prices have gone up and the quality down.  But corporate profits are on the rise.

 

You're right that a consumption tax will never get passed.   To many loopholes would be closed.

 

Our tax code right now is, by design, completely and totally out of control.  It is impossible to know the tax code in it's entirety, and they purposely make it as complicated as possible, so that they can work it to their (politicians and their ilk) to their benefit.

 

 

[LedFTed 1,104]

tax code is written so ya take money from those that might have something and give it to those that do have something.

[LedFTed 1,104]

for about the digital tax thing, they are trying everything.  what a gov loophole.