I sincerely hope this happens
House Will Vote on Bill to Abolish IRS, Replace Income Tax
The Republican-led House of Representatives will soon vote on legislation to abolish the IRS and replace the income tax code with a national sales tax.
But I have serious doubts that it will come to fruition.
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That would be a good start.
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They will vote, it will not pass. Just more smoke and mirrors.........see we TRIED!
They did however vote to cut their budget by a LOT! So there is that. Well, technically they just voted to take back the HUGE 80 billion that they gave em last year. The Senate will not pass it, not will biden sign it. Sooooo.....more smoke and mirrors?
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jimdeere: 30377455246363/comments/30377468449179
That would be a good start.
Yep....
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And then term limits and an across the board % tax for each and everybody. YUP! We dreamers love to dream!
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Not a fan of a consumption tax personally. For it to work it will shift the tax burden to less wealthy, and will result in double taxation on all who have saved post tax income.
There are numerous ways to simplify the current system which, IMO, would be much better.
- Eliminate all 501(c)(3) entities and the tax benefits of charitable giving. The Federal Government does not need to be involved in creating winners and losers regarding the receipt or spending of charitable dollars.
- Tax all income as earned income. The fact that someone's income is based upon investing money should not put them in a lower bracket than someone who invests their time and labor.
- Eliminate the separate taxes for FICA, Medicare, Medicaid, etc. It is pretty much all General Fund money anymore and having separate collection mechanism is inefficient and by now almost meaningless.
- Eliminate all consideration for state and local taxes. You choose where to live and there is no reason the rest of the taxpaying public needs to subsidize it.
Probably a few more simplifications/eliminations that would make sense, but these would be a good start.
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Don McManus: 30377455246363/comments/30377475411227
Not a fan of a consumption tax personally. For it to work it will shift the tax burden to less wealthy, and will result in double taxation on all who have saved post tax income.
There are numerous ways to simplify the current system which, IMO, would be much better.
- Eliminate all 501(c)(3) entities and the tax benefits of charitable giving. The Federal Government does not need to be involved in creating winners and losers regarding the receipt or spending of charitable dollars.
- Tax all income as earned income. The fact that someone's income is based upon investing money should not put them in a lower bracket than someone who invests their time and labor.
- Eliminate the separate taxes for FICA, Medicare, Medicaid, etc. It is pretty much all General Fund money anymore and having separate collection mechanism is inefficient and by now almost meaningless.
- Eliminate all consideration for state and local taxes. You choose where to live and there is no reason the rest of the taxpaying public needs to subsidize it.
Probably a few more simplifications/eliminations that would make sense, but these would be a good start.
With a consumption tax, you can easily ease the burden on low income by exempting necessities: all the staples, food, gas, etc.
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Mr. Perfect: 30377455246363/comments/30377444346011
https://forums.gunbroker.com/discussion/comment/11373700#Comment_11373700
With a consumption tax, you can easily ease the burden on low income by exempting necessities: all the staples, food, gas, etc.
This is what is presented, Mr. P and is what would happen. We all know how successful and pure the EBT system is working, so what could possibly go wrong?
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I would also be very wary of what Congress would do to control our purchases through taxation.
Gas vehicles vs. electric.
Any petroleum product vs. their version of renewables.
Meat taxed at twice the rate of tofu.
Non-organic taxed at twice the rate of organic foods.
Firearms taxed at 200%, ammo at 200%.
In short, giving the political class the ability to set tax rates on consumer products will open up an entirely new field for corruption, manipulation and control.
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Limiting all politicians to just a max of 2 terms would put people who really want to serve this country and its people and not THEMSELVES in office! All those negative points made above @Don McManus would not become an issue IMHO if this policy were to be put in place.
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Since this is a DREAM thread, I'll add just one more thing. Eliminate all the lobbyists on Capitol Hill. There is no room for special interest groups padding the pockets of our representatives and senators for favors. Just pure blatant corruption that has been going on for so long, nobody even sees it anymore.
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When you reach 65 years of age your property taxes on your primary home should be eliminated.
All income, investments, payroll and other earnings should be taxed at a flat 12%, no deductions.
For every dollar the IRS collects congress should cut the budget by a nickle.
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Don McManus: 30377455246363/comments/30377444417051
https://forums.gunbroker.com/discussion/comment/11373703#Comment_11373703
This is what is presented, Mr. P and is what would happen. We all know how successful and pure the EBT system is working, so what could possibly go wrong?
Added:
I would also be very wary of what Congress would do to control our purchases through taxation.
Gas vehicles vs. electric.
Any petroleum product vs. their version of renewables.
Meat taxed at twice the rate of tofu.
Non-organic taxed at twice the rate of organic foods.
Firearms taxed at 200%, ammo at 200%.
In short, giving the political class the ability to set tax rates on consumer products will open up an entirely new field for corruption, manipulation and control.
Yep. That is a problem. Of course taxing income is also a problem as we've seen. I don't know what the solution is, but it looks like a flat "you're alive" tax is probably the closest thing to fair there could be.
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