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The time is now 10:03 pm
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April 26, 2024, 6:13 am
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Taxation in the US
Published:
Updated:
The middle class and the lower-middle class have been victims for years in our economy and tax-paying obligations.
The solution, contrary to Abraham Lincoln's income tax, is a consumption tax as opposed to a production tax.
Similar to a "state tax" on your purchases, the federal government should eliminate income taxes and should establish a flat rate tax on your (and other country's) purchases, or consumption of goods purchased in the U.S.
This has several advantages, among them,
1) The elimination of tax breaks, deductions and loopholes.
2) The complete simplification of the current tax codes that would save us billions of dollars a year on the IRS, not to mention the time for the American worker to figure out his taxes.
3) The software implementation is already in place in every single cash register in the US that collects sales tax via state and local sales taxes.
4) Most important of all, the person consuming more pays more and the person consuming less pays less.
My point is that if a person can afford to buy a Lear Jet he should pay the equivalent percentage of taxes on that purchase as a person buying a pair of work boots.
The current tax system is not only extremely confusing and unfair, it encourages consumption and discourages production (and savings...note that we are one of the lowest of the industrialized nations in this regard).
When a millionaire pays less taxes than a middle class worker, something is wrong. If the millionaire and the money launderer were to be forced to pay their taxes at the cash register, it would eliminate loopholes, deductions and "laundering".
Am I the only one who sees this?
Comments
Can we include "crooks" in next week's lesson...lol
There's a reason why the supreme court ruled against the ten commandments being posted in federal buildings.....Can you imagine........
Imagine putting up a sign that says ...thou shalt not steal, lie, and murder in a building full of lawyers, judges, and politicians? They would be scrambling for the exits..........LOL
FRANKIE89520
Good points and I'll have to look up that Bank Act because I'm not familiar with it. I spent 12 hours doing my taxes this year....but I mailed my state tax forms in before I realized I made a mistake on my federal tax. I had to re-do my federal tax forms and then had to get an ammended state tax form and submit further info and rigamarole, another 8 hours of my life wasted.
The instructions are so complicated that I think they do it purposely to force 50% of us to make mistakes and therefore eligible for audit and further intrusion.
To take taxes from the point of purchase would put a lot of this created bureaucracy out of business but when you multiply 150 million taxpayers and x amount of corporations by the amount of time and money THEY spend on doing their taxes, it exceeds the amount of time and money the bureaucacy spends on processing it and hassling the American workers. The money and time wasted could be used for a lot of other far nobler causes.
This definitely is bad and mark my words, there will be a taxpayer revolution in this country opposing this antiquated method of collecting revenue.
I could go on all day about this but the bottom line is KISS. Keep It Simple, Stupid!
Thanks for your input.
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