Consumption Tax?

#1
What does everyone out there think of a consuption tax? Eliminate income tax, property tax, inheritance tax, and corporate taxes. Pay about 30% in tax on anything you purchase except ~$15000 a year in food. The more you spend the more you pay. The less you spend the less you pay.

A bill and a book has been written on it. I personally don't have the time and I feel guilty when I read stuff other than what I should be reading for work.

Any thoughts?
 

dirty

EOG Master
#4
yea I got the Fairtax book. Written By John Linder and Niel Boortz



Very Informative.....but the Politicians will fight it becuase they will lose the power they have over americans
 
#6
I dont think it would work even at 30%, wouldnt be nearly enough. probably be a lot more black market for many items to avoid the tax, would have to be an answer for that
 
#7
If the IRS could even make the large corporations pay even 50% of what they cheat right now, the burden on the regualr taxpayers would be severely cut and this wouldnt be an issue. since the IRS cant enforce the Corps is the only reason its got so out of hand to begin with.
 

dirty

EOG Master
#8
Buy the book and read it.....It answers all those questions.....


And if you think Corporations pay taxes you are wrong....They may be taxed But the tax is imbedded in the product and the consumers pay the tax...doesn't hurt the corporations at all to be taxed...it only hurts the american people....


In the Fair Tax the only thing that is taxed is new goods at 23%.....nothing used being sold will be taxed.....This is so because after years of research there is 22-23 cents of Tax Imbedded in each product on Average that you Buy to cover ss, medicare, etc.......


If you are taking home all your pay which is 33% or higher for most americans from what you pay now...and you eliminate all other taxes...You will have Lot's more money to spend and Save....Which is great for the economy


so now if you pay 100 Smackers for something before the 7% sales tax or whatever yours is....then it becomes 107 Bucks....with the Fair tax.....The original cost of the product would be 77 Bucks (100-23 cents embedded tax)...then at the register you are charged the 23 cents back and you pay a flat fee of 100 Bucks...

This even works for Homes as well...if you buy a new home you are taxed...But the cost will not go up..the embedded tax is gone...if you buy a used home you just pay the price...no tax at all...


Just read the book it explains everything....:+thumbs-2
 
Top