spacemonkey wrote:Some piles of wealth are so absurdly large, 90% could be removed, and they would remain absurdly large.
John Galt wrote:VAT is a money making machine, and for that reason i am troubled supporting it (we should starve the beast) however, if e could phase out income taxes for all money under $100,000 while having a resaonable VAT (I've read about 12.5% would cover this) it would address issues of non-reporting, except for black market purchases. remove the drug war and that's most of the black market aside from like, stolen art, which is going to exist with or without VAT. and somewhere along the line that theif is going to buy a cheeseburger from mcdonalds and be hit with VAT anyway, whereas with income taxes that income is never reported
for those making over 100K, rates of today would be alright (remember, they also are paying the VAT), and capital gains should apply the same as any income
i think a lot of the problem with the tax system, regardles sif income tax stays (which it will) or a vat implemented (which it won't be) is that it's way too complex. winchester shouldn't be employed. yeah, maybe some person making a million or more needs a damn accountant to figure everything out for tax purposes, but no one under than should. it should be simple forms to understand
John Galt wrote:why would it be an infringement? jsut because thats what states do? if there is no income taxes for people under 100k, then people have more money, and so more money to spend on things. i would think retailers would be the ones most opposed to VAT, since they can't say something is 4.99 and then be all "oh yeah and there's 35 cents of tax on that" but rather have to say things are 5.34 to begin with.
IronFist wrote:Of course they should pay more. Or just spend their money on charity. They don't have too much to spend there money on anyway. At least they will help some less lucky people in that case.
a777pilot wrote:The answer to the OP's question is....NO!
The problem is we continue to talk about an "income" tax. That is the rub. There ought not be a tax on income or a tax on private real property.
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