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The 7 - Current Events & Politics - Bush thinking about ending IRS and replacing Income Tax with Sales. Your thoughts? Register and log in to post!
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Lafayette
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#1 Posted on 12.8.04 1440.49
Reposted on: 12.8.11 1442.38
Just wanted your opinion on the prospect of ending the bureaucratic mess known as the IRS and replacing it with a National Consumption Tax.

I'm no economics expert by any means but wouldn't this give the richest of us a massive break on taxes? It's true that they on average consume more to maintain their high standard of living but in the end they would still be paying a far amount less then before.

I'm kind of torn on this issue. I'm a middle class, single male who is not a spendthrift by any means. I have no credit cards, cell phone or digital cable. I only buy what I can afford and shop at the discount grocery.

I think then that the consumption tax would work in my benefit and I would reap great gains in my savings account with it in place.

I need to research it more but as of right now I'm in favor of the National Sales Tax. The IRS is a mess and always has been. The less big government overseers we have the better I say. Let me be thrifty and gain from it by being in control of my money and my spending.

What do you think?
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Grimis
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#2 Posted on 12.8.04 1443.18
Reposted on: 12.8.11 1443.19
I think we had this thread...
DrDirt
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#3 Posted on 12.8.04 1610.24
Reposted on: 12.8.11 1617.35
Grimis is right but my two cents. A VAT would only penalize you for spending. The rich spend more. End of story. Exclude food and so much on vehicles and you have a winner. Plus if you watch your pennies you aren't hit.

(edited by DrDirt on 12.8.04 1610)
Lafayette
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#4 Posted on 12.8.04 1624.42
Reposted on: 12.8.11 1628.53
My bad. I looked for a duplicate before posting and saw none.

"Hastert calls for VAT" or whatever means nothing to me.

I don't have time to read every thread on the forum before making one of my own.

Sorry.



DrDirt
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#5 Posted on 12.8.04 1715.54
Reposted on: 12.8.11 1717.58
    Originally posted by Lafayette
    My bad. I looked for a duplicate before posting and saw none.

    "Hastert calls for VAT" or whatever means nothing to me.

    I don't have time to read every thread on the forum before making one of my own.

    Sorry.






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Guru Zim
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#6 Posted on 12.8.04 1957.29
Reposted on: 12.8.11 1958.24
    Originally posted by Lafayette
    I don't have time to read every thread on the forum before making one of my own.


That's a very succinct summary of the problem, yes.
spf
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#7 Posted on 12.8.04 2141.06
Reposted on: 12.8.11 2141.09
    Originally posted by Lafayette
    I need to research it more but as of right now I'm in favor of the National Sales Tax. The IRS is a mess and always has been. The less big government overseers we have the better I say. Let me be thrifty and gain from it by being in control of my money and my spending.

    What do you think?

If anyone with a working brain thinks the apparatus needed to ensure that every single purchase in the country is adequately tracked to make sure that the appropriate tax is paid and that every single merchant in the country pays the appropriate amount to the governemnt will not be just as large or larger than the IRS, you are really quite the optimist.
Eddie Famous
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#8 Posted on 12.8.04 2145.19
Reposted on: 12.8.11 2148.01
Well, the thread WAS dead...and couldn't be added to.

Let's not forget the sales taxes that state, county and local governments take as well.

If states decide to increase their sales taxes and get rid of THEIR income taxes, then you start to have a piling on effect.

Add on the dampening effect the new federal taxes on anything internet (which would be next) would have on the economy and you start to careen towards higher prices for everything, less purchases of high-ticket items, etc., not good at all.

Nothing wrong with a flat income tax. National sales taxes are a slippery slope.
Corajudo
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#9 Posted on 13.8.04 0832.45
Reposted on: 13.8.11 0833.03
Add on the dampening effect the new federal taxes on anything internet (which would be next) would have on the economy and you start to careen towards higher prices for everything, less purchases of high-ticket items, etc., not good at all.

Not only that, but imagine how much tax evasion would occur with a national sales tax high enough to replace the income tax. A lot of people would work around that. I think it would be more pervasive and harder to find than income tax evasion.

Would a national sales tax require us to keep ALL our purchase receipts for 7 years (or whatever the IRS requires for tax documentation)? Or, would it be the responsibility of the merchants to document their sales tax paid plus reconcile their inventory to make sure they were paying the adequate amount of sales tax? Oh yeah, that wouldn't create a bureacracy on the order of the IRS... (what spf said)

And, while we're on the tax subject, I want no part of a VAT either. I want the taxes I pay to be up front and obvious, no hidden taxes (aside from the sin and gas taxes; I don't have much of a problem with hiding those). Also, monitoring a VAT would be expensive and cumbersone as well.
TopTenPro
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#10 Posted on 14.8.04 0305.37
Reposted on: 14.8.11 0307.44
I must disagree with this Bsh proposal.

I am a father who pays child support. My ex, has since remarried and now her husband and her do not work. They live off my child support, while renting a nice home and sending him (her husband) through college.

This new system would in no way benifit me, not like the current system does much for me either. I say if it ain't broke, don't fix it.
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