Tax policy

[Minor Axis]

Wow, first post I've seen from you where I agree with everything you said. :thumbup

And now you all just proved my noobishness by calling it a consumption tax - duh, I knew that, really.

Anyway, like I said, my only concern with a consumption tax is that it would cause people to stop consuming, especially rich people. They'd get stingier, and that means less money being dumped back into the economy. Anyone else feel that a consumption tax would actually be bad for the economy, but still sounds like a good idea? Lol...

I think most rich people like enjoying their wealth, ie spending money, otherwise why have it? I'm sure there could be some exceptions. What I don't know is how constant a income stream a consumption tax would be in comparison to a flat tax.

 

[SgtSpike]

I think most rich people like enjoying their wealth, ie spending money, otherwise why have it? I'm sure there could be some exceptions. What I don't know is how constant a income stream a consumption tax would be in comparison to a flat tax.

Especially if the economy went south...

 

[Minor Axis]

Here is something to ponder, if we took a flat tax and set it to a rate where the tax revenue is at the same level it was before our economy took its dump, who would end up paying more tax and who would pay less, or would we all pay about the same? I guarantee that if a flat rate means the lower and middle class pays more taxes and the rich pay less, it would never fly.

 

[SgtSpike]

Here is something to ponder, if we took a flat tax and set it to a rate where the tax revenue is at the same level it was before our economy took its dump, who would end up paying more tax and who would pay less, or would we all pay about the same? I guarantee that if a flat rate means the lower and middle class pays more taxes and the rich pay less, it would never fly.

Haha, I agree with you there. Heck, the rich are one of the most persecuted minorities in this country anymore, lol.

 

[Peter Parka]

I'm not going to pretend I know about the USAs tax policy because I dont. In general though, I'm most concerned with how its used and wasted. It's sad that people unrealistically seem to always expect better service for less tax, it simply dosen't work like that!

 

[Ryder]

Can anyone explain taxes to me?

 

[SgtSpike]

I'm not going to pretend I know about the USAs tax policy because I dont. In general though, I'm most concerned with how its used and wasted. It's sad that people unrealistically seem to always expect better service for less tax, it simply dosen't work like that!

Lol, 100% agree there. Actually, I think it's also sad how people seem to think that the government can handle our money better than we can. Or they think the government is actualy efficient at spending it. Right... and I'm Madonna.

 

[Alien Allen]

I'm not going to pretend I know about the USAs tax policy because I dont. In general though, I'm most concerned with how its used and wasted. It's sad that people unrealistically seem to always expect better service for less tax, it simply dosen't work like that!

and equally is unrealistic is that if the govt gets more money they won't piss it away

our problem is not tax revenue

except for very rare exceptions the govt gets fed more money each year than the one before.

but they raise expenditures at a higher rate greater than the income. in the real world that means bankruptcy eventually.

now we just print more money and raise the taxes higher under the mistaken belief that the rich can pay our way out of the mess we are in. that never has worked before and won't now