23% sales tax; no fed. income tax

[Rupert Pupkin]

Originally Posted by SniperSB23

How about a luxury tax? A certain amount of every product is untaxed and anything over that is taxed at 23%. So any car you buy isn't taxed on the first $8,000 but anything beyond there is taxed at 23%. Seems that would accomplish the goal of replacing income tax more effectively.

That sounds like a better idea than just a flat 23% sales tax. I agree with others that a flat 23% sales tax would be be too big of a burden on the poor.

I still think the best idea would be a combination of a flat tax and some type of less complex, progressive income tax. For example, maybe they could have a 10-12% flat sales tax and also a simple, progressive income tax where people who make under $25,000 a year pay no income tax, people who make $25,000-$50,000 a year could pay a 5% income tax, people who make $51,000-$100,000 a year could pay a 8% income tax, people who make $101,000-$200,000 a year could pay around a 10-12% income tax, and people who make over $200,000 a year could pay around a 15-20% income tax.

Originally Posted by Rupert Pupkin

That sounds like a better idea than just a flat 23% sales tax. I agree with others that a flat 23% sales tax would be be too big of a burden on the poor.

I still think the best idea would be a combination of a flat tax and some type of less complex, progressive income tax. For example, maybe they could have a 10-12% flat sales tax and also a simple, progressive income tax where people who make under $25,000 a year pay no income tax, people who make $25,000-$50,000 a year could pay a 5% income tax, people who make $51,000-$100,000 a year could pay a 8% income tax, people who make $101,000-$200,000 a year could pay around a 10-12% income tax, and people who make over $200,000 a year could pay around a 15-20% income tax.

And then the very rich give birth to a cow. If the trend above continues.

[timmgirvan]

Originally Posted by pgardn

And then the very rich give birth to a cow. If the trend above continues.

I'm not sure what that means but unless you own your house free and clear, 25 grand a year is not gonna cut it! My insurance covers meds and such, which saves me at least 800-1000 bucks per month. Everything has such a 'domino effect' on everything else! Pretty bleak unless you are making 100,000 per yr and then you still have to have a pretty good tax man!

Originally Posted by timmgirvan

I'm not sure what that means but unless you own your house free and clear, 25 grand a year is not gonna cut it! My insurance covers meds and such, which saves me at least 800-1000 bucks per month. Everything has such a 'domino effect' on everything else! Pretty bleak unless you are making 100,000 per yr and then you still have to have a pretty good tax man!

Oh Im sorry. the baby cow would be born with the following trend continuing:

That sounds like a better idea than just a flat 23% sales tax. I agree with others that a flat 23% sales tax would be be too big of a burden on the poor.

I still think the best idea would be a combination of a flat tax and some type of less complex, progressive income tax. For example, maybe they could have a 10-12% flat sales tax and also a simple, progressive income tax where people who make under $25,000 a year pay no income tax, people who make $25,000-$50,000 a year could pay a 5% income tax, people who make $51,000-$100,000 a year could pay a 8% income tax, people who make $101,000-$200,000 a year could pay around a 10-12% income tax, and people who make over $200,000 a year could pay around a 15-20% income tax.


For the very rich... It would mean they would get the heck taxed out of them, but I assume there would be an upper limit.

[Rupert Pupkin]

Originally Posted by pgardn

Oh Im sorry. the baby cow would be born with the following trend continuing:

That sounds like a better idea than just a flat 23% sales tax. I agree with others that a flat 23% sales tax would be be too big of a burden on the poor.

I still think the best idea would be a combination of a flat tax and some type of less complex, progressive income tax. For example, maybe they could have a 10-12% flat sales tax and also a simple, progressive income tax where people who make under $25,000 a year pay no income tax, people who make $25,000-$50,000 a year could pay a 5% income tax, people who make $51,000-$100,000 a year could pay a 8% income tax, people who make $101,000-$200,000 a year could pay around a 10-12% income tax, and people who make over $200,000 a year could pay around a 15-20% income tax.


For the very rich... It would mean they would get the heck taxed out of them, but I assume there would be an upper limit.

That's not what I was saying. I was saying that the highest tax bracket would pay 15-20% in income tax. Nobody would pay more than 20% in income tax even if they make $20 million a year.

[Cannon Shell]

Originally Posted by Rupert Pupkin

That's not what I was saying. I was saying that the highest tax bracket would pay 15-20% in income tax. Nobody would pay more than 20% in income tax even if they make $20 million a year.

Oh good, I was worried about that

[somerfrost]

Originally Posted by Cannon Shell

Oh good, I was worried about that

\


Again, I disagree there...I'd tax the rich as I said previously...90-95% of income over some set amount...nobody needs all the money in the world!

[Danzig]

i guess the question i have as far as taking from the rich ala robin hood. who decides how much is enough? i have more than some, is it too much? others have more than i do. who decides? does bill gates have a crapload? well, yeah. and he also is very charitable. so should someone take what he is already giving, so they can give according to who needs it--who decides who needs it?
thing is, if there is a flat tax-i pay 10% (for instance) and gates pays his 10%...now obviously, he has more, so he should give more according to some--but isn't 10% of a billion a hell of a lot of money??
basketball players make a ton of money--too much? well, if they didn't get paid so much, you think the guy selling beer in the stands would make more? hell no, the owner would pocket more!
there is no easy answer as to what to do.

[Rupert Pupkin]

Originally Posted by Danzig188

i guess the question i have as far as taking from the rich ala robin hood. who decides how much is enough? i have more than some, is it too much? others have more than i do. who decides? does bill gates have a crapload? well, yeah. and he also is very charitable. so should someone take what he is already giving, so they can give according to who needs it--who decides who needs it?
thing is, if there is a flat tax-i pay 10% (for instance) and gates pays his 10%...now obviously, he has more, so he should give more according to some--but isn't 10% of a billion a hell of a lot of money??
basketball players make a ton of money--too much? well, if they didn't get paid so much, you think the guy selling beer in the stands would make more? hell no, the owner would pocket more!
there is no easy answer as to what to do.

Exactly. I agree with you 100%.