If anyone of you care to have the Full details... this is the FairTax ,once championed by Neal Boortz and Rep Linder.
It won't ever be passed,shamefully, because within the legislation is the ironclad first step of reminding the 16th Amendment to our Constitution. I can tell you
...as this would be the biggest shift of power from the Govt to the Consumer...they won't ever let that happen.
It's been years since I read thev2 books I bought on it...however:
This is a tax on new items,and services- with a prebate on taxes that would be paid on goods for the first $----? ( below the designated poverty level) for every tax payer. That will be The Only job of the IRS going fwd for household: send them their pre-bates at the beginning of the year.
Buy a new house Pay 23% sales tax. Buy a used home? Pay nothing extra.
If your thrifty, you'll save money. Illegals and tourists will pay 23% on their new goods n services-.adding benefits to the economy-without ever getting $ that citizens get .
The impact of abolishing the IRS and the federal tax code is much further reaching than it appears on the surface.
When one considers how many law makers are corrupted by taking money from lobbyists to author spending bills and laws that permit the wealthy to suck the teat of government, the legions of lawyers and accountant types to support the attempted avoidance and or compliance with a hopelessly impossible and corrupt tax code, it becomes obvious why the establishment has a literal stroke when reforms are merely mentioned in earnest.
The loss of control over the levers of power and the amount of money that would be returned to the economy for the people to use, not the government, is simply too much for the ruling class to even consider.
A tax on goods and services, to finance the legitimate functions of government as defined in the enumerated powers of the Constitution, is the only money the fed should be collecting. Anything beyond those clearly defined functions is unconstitutional and should be terminated without further consideration or debate.
It is only a good deal if it is tied to eliminating the income tax.
I moved to libertaria (in the heart of Woke Crazy Murica. Who knew?) to be w/in driving distance of fam when they lock us down again.
I pay for fire, library and waste separately as indy tax districts. If I do not pay ... pssht. Too bad, for you. Police is catch as catch can, which is dead scary if your neighbors do not like you.
Old America. Lotta hard core Christians, pagans and weirdos.
Reminds me of the time we moved into a house in an older (formerly) suburban neighborhood of a nearby town. Not long after moving in, I looked out my window one morning to see a bare possum skull sitting on top of a deck post, pointed as if looking in to my living room window.
I began to wonder if we'd done something to offend one of our new neighbors, as it was a bit unusual.
I let it sit there for a few days, to see if anyone would move it. It just sat there -- dead possum skull lookin in the window. Well, at least if someone was actively trying to screw with us, they were low commitment.
Once I decided to dispose of the ghoulish thing, I noticed there was another small bone on the ground nearby.
Huh.
Looking up into a nearby pine tree, I saw the skeletal remains of most of a possum, wedged in the crook of of branch at the trunk. On, all settled, mystery solved .
Not many days later, I noticed a hawk looking in through my living room window, perched on the same post which had previously been the resting place of the possum skull.
Ok. Odd. So then I wondered -- was the hawk screwing with my head, or was I just screwing with my own head?
One need only look at the absolute consternation when Dizzy Lizzy attempted to roll back the Uk's tax agenda to something along the lines of 2018, tanking various markets, creating a huge panic and thus was rewarded with (thoroughly deserved, for unrelated reasons) political assassination.
Though, I've also heard it she was the victim of essentially a coup by the WEF globalists, which I'm happy to accept on face value because that's just the kind of shit they do.
TBH this bill sounds like the GOP blowing smoke up the arse of their low-taxation phoney base as it's so obviously doomed to fail.
“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it."
"But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime."
"Now, legal plunder can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right to relief, a right to the tools of labor, free credit, and so on, and so on.”
Governmen will create a 30% VAT --- and not cut any other taxes.
It isn't socialism though, IMO. It's more like oligarchic kleptocracy. Government regulators steal the income of productive people, keep a large chunk of it, and distribute the rest to their wealthy Leftist cronies.
GM: 1) It was not a squirrel. 2) I spend a fair amount, (but try not to waste any) and would be fine with a sales tax. The worst of all worlds would be to have both an income and a VAT as most European countries do. I actually prefer the flat tax over all of them -- it is the gaming of the income tax that makes it noxious. But a VAT is fine. If you can afford to buy a $5M jet, you can afford the extra $1M in taxes. Otherwise, don't buy it and put your carbon footprint money where your mouth is...
Flat Tax makes sense and I am a huge fan. I actually go over it in an article I'm working on :) The prebates keep the burden on the poor low, all the black marketers have to chip in, and of course the best part is the elimination of the income tax. (consumption taxes are far superior)
The shrieking is so people don't run the numbers like you did and realize how badly you're getting screwed.
Deciding how to finance a massively bloated federal government with taxes of any sort ignores the reality that the government is massively bloated and needs to go on not just a diet but have liposuction and then have the skin tightened. But as we know from obese people, even these things don't help take off the weight long term.
It is time to perform gastric bypass on the federal government. Cut out everything that isn't specifically Constitutionally mandated, all the alphabet agencies that are corrupted, that would be all of them in my view and keep the current tax system in place to pay off the debt which would take about 15 years if we act now and then end the tax system altogether and replace it with the only tax system mentioned, tariffs. Put those in place and the US would become fully employed again and foreign governments would lose their ability to buy politicians.
One thing about a VAT is that if it is included in the price, it is very easy to implement and raise. If NOT included in the price, it tends to make the customers too angry when it exceeds 10% or so.
Canada vs. New Zealand is a good example. In the former it is not included in the price, while in the latter it is. Both started out at 7% and 10%, respectively, at around the same time. But the former cut it over time to 5% under public pressure, while the latter raised it over time to 15% while the people didn't seem to care enough to complain.
I don’t buy shit. I can’t after Turdeau has taken 1/3 of my paycheque so I’m frugal too. Now I’m freaking out about interest rates and will I be able to keep my shitty house that I actually would like to give my kids some day. Now I’m not so sure anymore.
So this is really boring but since you're talking about taxes, I have to throw in the way my community caret system does it (once we kick out the banks). The commonwealth issues all mortgages priced in carets, and distributes targeted dividends to all residents for locally produced food, wellcare, education and home improvements. Once other people earn the carets by doing nice things for each other, they can spend them how they like. If spent on local goods, housing or services, there's no income tax or sales tax, only soc sec, which is really a pension plan. If cashed out for dollars to buy foreign stuff, there's a 50% tax, protecting local producers. There's also a 2:1 exchange rate of dollars to carets so that local workers pay half what hedge funds or invading Californians would to buy or rent a house. So people can work where they live and live where they work. End of pitch.
If anyone of you care to have the Full details... this is the FairTax ,once championed by Neal Boortz and Rep Linder.
It won't ever be passed,shamefully, because within the legislation is the ironclad first step of reminding the 16th Amendment to our Constitution. I can tell you
...as this would be the biggest shift of power from the Govt to the Consumer...they won't ever let that happen.
It's been years since I read thev2 books I bought on it...however:
This is a tax on new items,and services- with a prebate on taxes that would be paid on goods for the first $----? ( below the designated poverty level) for every tax payer. That will be The Only job of the IRS going fwd for household: send them their pre-bates at the beginning of the year.
Buy a new house Pay 23% sales tax. Buy a used home? Pay nothing extra.
If your thrifty, you'll save money. Illegals and tourists will pay 23% on their new goods n services-.adding benefits to the economy-without ever getting $ that citizens get .
https://video.foxbusiness.com/v/933172980001#sp=show-clips
A fast 5 minutes,if you don't want to buy either book ( Answering the Critics I think is the best book)
The advantage of the VAT is that it would place the onus on mindless consumer cows, while the rest of us are busy building parallel economies.
The impact of abolishing the IRS and the federal tax code is much further reaching than it appears on the surface.
When one considers how many law makers are corrupted by taking money from lobbyists to author spending bills and laws that permit the wealthy to suck the teat of government, the legions of lawyers and accountant types to support the attempted avoidance and or compliance with a hopelessly impossible and corrupt tax code, it becomes obvious why the establishment has a literal stroke when reforms are merely mentioned in earnest.
The loss of control over the levers of power and the amount of money that would be returned to the economy for the people to use, not the government, is simply too much for the ruling class to even consider.
A tax on goods and services, to finance the legitimate functions of government as defined in the enumerated powers of the Constitution, is the only money the fed should be collecting. Anything beyond those clearly defined functions is unconstitutional and should be terminated without further consideration or debate.
In case you missed it GM added Kofi to this stack. Now go buy her a coffee! GM, you could mention this to the rest of the world.
It is only a good deal if it is tied to eliminating the income tax.
I moved to libertaria (in the heart of Woke Crazy Murica. Who knew?) to be w/in driving distance of fam when they lock us down again.
I pay for fire, library and waste separately as indy tax districts. If I do not pay ... pssht. Too bad, for you. Police is catch as catch can, which is dead scary if your neighbors do not like you.
Old America. Lotta hard core Christians, pagans and weirdos.
Nice. But not easy.
Cute squirrel.
Reminds me of the time we moved into a house in an older (formerly) suburban neighborhood of a nearby town. Not long after moving in, I looked out my window one morning to see a bare possum skull sitting on top of a deck post, pointed as if looking in to my living room window.
I began to wonder if we'd done something to offend one of our new neighbors, as it was a bit unusual.
I let it sit there for a few days, to see if anyone would move it. It just sat there -- dead possum skull lookin in the window. Well, at least if someone was actively trying to screw with us, they were low commitment.
Once I decided to dispose of the ghoulish thing, I noticed there was another small bone on the ground nearby.
Huh.
Looking up into a nearby pine tree, I saw the skeletal remains of most of a possum, wedged in the crook of of branch at the trunk. On, all settled, mystery solved .
Not many days later, I noticed a hawk looking in through my living room window, perched on the same post which had previously been the resting place of the possum skull.
Ok. Odd. So then I wondered -- was the hawk screwing with my head, or was I just screwing with my own head?
I still haven't figured it out.
Yeah. This is the stuff I post for.
(Narrator: “he paid for the pumpkin head boar, because he’s shallow, but loves to be an in guy”)
One need only look at the absolute consternation when Dizzy Lizzy attempted to roll back the Uk's tax agenda to something along the lines of 2018, tanking various markets, creating a huge panic and thus was rewarded with (thoroughly deserved, for unrelated reasons) political assassination.
Though, I've also heard it she was the victim of essentially a coup by the WEF globalists, which I'm happy to accept on face value because that's just the kind of shit they do.
TBH this bill sounds like the GOP blowing smoke up the arse of their low-taxation phoney base as it's so obviously doomed to fail.
Taxation is Legalized Theft!
“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it."
"But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime."
"Now, legal plunder can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right to relief, a right to the tools of labor, free credit, and so on, and so on.”
― Frédéric Bastiat
Governmen will create a 30% VAT --- and not cut any other taxes.
It isn't socialism though, IMO. It's more like oligarchic kleptocracy. Government regulators steal the income of productive people, keep a large chunk of it, and distribute the rest to their wealthy Leftist cronies.
GM: 1) It was not a squirrel. 2) I spend a fair amount, (but try not to waste any) and would be fine with a sales tax. The worst of all worlds would be to have both an income and a VAT as most European countries do. I actually prefer the flat tax over all of them -- it is the gaming of the income tax that makes it noxious. But a VAT is fine. If you can afford to buy a $5M jet, you can afford the extra $1M in taxes. Otherwise, don't buy it and put your carbon footprint money where your mouth is...
Flat Tax makes sense and I am a huge fan. I actually go over it in an article I'm working on :) The prebates keep the burden on the poor low, all the black marketers have to chip in, and of course the best part is the elimination of the income tax. (consumption taxes are far superior)
The shrieking is so people don't run the numbers like you did and realize how badly you're getting screwed.
Deciding how to finance a massively bloated federal government with taxes of any sort ignores the reality that the government is massively bloated and needs to go on not just a diet but have liposuction and then have the skin tightened. But as we know from obese people, even these things don't help take off the weight long term.
It is time to perform gastric bypass on the federal government. Cut out everything that isn't specifically Constitutionally mandated, all the alphabet agencies that are corrupted, that would be all of them in my view and keep the current tax system in place to pay off the debt which would take about 15 years if we act now and then end the tax system altogether and replace it with the only tax system mentioned, tariffs. Put those in place and the US would become fully employed again and foreign governments would lose their ability to buy politicians.
One thing about a VAT is that if it is included in the price, it is very easy to implement and raise. If NOT included in the price, it tends to make the customers too angry when it exceeds 10% or so.
Canada vs. New Zealand is a good example. In the former it is not included in the price, while in the latter it is. Both started out at 7% and 10%, respectively, at around the same time. But the former cut it over time to 5% under public pressure, while the latter raised it over time to 15% while the people didn't seem to care enough to complain.
I don’t buy shit. I can’t after Turdeau has taken 1/3 of my paycheque so I’m frugal too. Now I’m freaking out about interest rates and will I be able to keep my shitty house that I actually would like to give my kids some day. Now I’m not so sure anymore.
So this is really boring but since you're talking about taxes, I have to throw in the way my community caret system does it (once we kick out the banks). The commonwealth issues all mortgages priced in carets, and distributes targeted dividends to all residents for locally produced food, wellcare, education and home improvements. Once other people earn the carets by doing nice things for each other, they can spend them how they like. If spent on local goods, housing or services, there's no income tax or sales tax, only soc sec, which is really a pension plan. If cashed out for dollars to buy foreign stuff, there's a 50% tax, protecting local producers. There's also a 2:1 exchange rate of dollars to carets so that local workers pay half what hedge funds or invading Californians would to buy or rent a house. So people can work where they live and live where they work. End of pitch.