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| *Loan,banking and credit>>>income tax |
Inspired by voteronpaul08. Let's talk about income tax.? |
Do you think our nation could survive without income tax but with sales tax? I'm kinda skeptical about the no income tax approach because yes I would love to keep our earnings and it would be great to hear less people complaining about where their taxes go to (usually getting pissed at the poor soaking up their income tax) So, let's say the income tax were phased out. What would happen? Would we sink or swim? Would we have to get rid of government programs for this change like welfare and how would that work out? Would celebrities donate to poor americans? What would need to be done to our current system for this drastic change in order for it to work? Think, healthcare poor people rich people (would they be happy too) public schools what would happen? When it comes to low income to middle, would the 200-400 saved make up for medical bills and would schools become run down? What would you do to balance it out? Linda, I hate to be critical (I really do!) but you have bought into what they have been shoveling out and that usually is for fertilizing gardens! If they say they will abolish the IRS and do a fair tax but they need to leave it in place for a while just how long do you think it would take for people to realize they never had any intension of actually abolishing it, months or years? It is another BIG lie! Can you imagine the fed getting into every cash register in the country and knowing every cent you spend? Just imagine the bureaucracy! No, this is not the answer! If you listen to the good Doctor his plan would work. It is to phase in the governments own printing of green backs replacing the reserve notes till we no longer use them at all. This is interest free money so doesn鈥檛 require tax collection to pay for it. The fed and IRS would become defunct in short order! With the bankers source of control gone we could become a free constitutional country again! But the nicest thing is we wouldn鈥檛 have to resort to our second amendment rights to cause it to happen! I also would like to allay your fears about the government falling apart with no income tax money coming in. The government runs a second set of books called the comprehensive annual financial report and if you look into it they are making enough money in interest on all the businesses they have invested in to not only pay the complete budget but to actually return money to every tax payer! Just like what Alaska does only now it would be national. Our income tax collected by the private corporation the IRS is deposited in an off shore bank and from there goes into the coffers of the IMF and World Bank, it is not used to support the government at all. The government mostly runs on borrowed money! Schools and local community functions are funded from property taxes. I know this is a very bitter pill to swallow but do your own research and check it out. Bobo, I do like your thinking but using gold to back our bucks means we need to have some! We could use the military to recover all our gold that was stolen from Fort Knox by the bankers, it has been cleaned out! Using gold with out having any would put them back in control as they have the vast majority of it and control the prices as well as the availability. Silver wouldn't work for the same reason! It is just too easy to manipulate the prices and supply. The early English had something called tally sticks and this worked quite stably for hundreds of years till the Rothschild鈥檚 established the English central bank and recalled the sticks. It has been all down hill ever since! Point is the money only has to be backed by a competent government for it to work. We have used government issued green backs twice in our history. Lincoln and Kennedy both did it, both were going to do away with the central bank and both were assassinated, coincidence? I think not! In fact there were papers uncovered that linked a central banker to Booth! I'm for income tax cuz these wars culd not be waged without it. War on Terr--dont forget. Of course it couldn't. The issue is the wrong people are paying most of the taxes. I know that some Republican is going to remind me that the top 50% pay all of the taxes. Thats true, but most of the top 50% earn $44,000 dollars a year, unlike those who average $26.4 Million a year who got most of the tax cuts! I think we'd sink. I think it would be a fair way to tax, but I don't think it would work. Wealthy people make a lot of money that goes strait to the bank and sits there- sometimes for generations. If it's only taxed when it's spent, it's not going to be taxed. Poor people will pay tax on every penny earned because they have to spend it to survive. Unfortunately, the income from their taxes won't be sufficient to keep things going at the level they are at now. Anything other than Ron Paul in 2008 will be more of the same. Democrats had all the momentum, and nothing has happened. Ron Paul has vision, he can revive America, after all, he IS a doctor, he doesn't just play one on tv. I have been a tax accountant for 27 years and I have studied all the proposals out there, such as the "National Sales Tax" or the "Flat Tax" or the "Fair Tax." All of these ideas come with their own sets of fatal flaws. For example, under the "Flat Tax" system, it has been estimated that the tax rate would have to be at least 18% in order to pay for everything, with no way to keep that 18% from becoming 25% or 30% or even higher. Why? It doesn't address spending! We could all end up paying 60% of every dime we earn to the government. It also taxes every damn thing, not just wages. You sell your home and get hit with an 18% tax? What idiot came up with this idea is what you'll ask yourself then. Also, these proposals to end income tax as we know it fail to recognize that the progressive tax system we have now (meaning rich pay higher rates than poor) allow the government to target weaker areas of the economy and strenghthen them by providing tax incentives. Under all the proposed alternatives, there is just no way to do that. Tax codes should not be written by people who can't see past their own circumstances at the wider implications of their proposals. I could go for a change in the current income tax system,but the sales tax idea,the supposed "fair tax" idea would be the biggest tax break for the wealthiest individuals in America in the history of our country. A flat tax,where everyone pays the exact same percentage of all income,along with a tariff system that makes it impossible to avoid US taxes by making your products overseas when the intended market is the US,that I could accept. This isn't some tangent against the rich,it's simple fairness. Right now if you look at the facts some of the wealthiest individuals in America have some of the lowest tax rates. Lets take Warren Buffett for example,who makes almost his entire income through either dividends from investments or capaital gains when he sells off an investment. Both sources of his income have had their rates lowered to I believe 15%,the actual number is irrelevant the point is that it's been lowered. Also since both forms of income are not treated like regular income there is no Social Security tax,there is no Medicare deduction etc,so therefore he has effectively about a 20% lower tax rate than you or I from the start. A flat tax solves this issue,and puts every American on the same playing field,and is really the only "fair tax" AD |
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