[QUOTE="ShadowMoses900"][QUOTE="mattbbpl"][QUOTE="ShadowMoses900"]
Agreed 100%.
I believe if we took away the income tax and implemented a 10% value added sales tax on all goods (besides essentials like food, medicine ect..) this would force everyone to pay their fair share in taxes. Rich people don't pay income tax because they put their money in Switzerland banks and investment firms, which you cannont tax. They also have personal accountants who know how to hide money. Alot of people are under the impression that rich people get a paycheck in the mail like the rest of us, but they don't.
Rich people still buy things though, and this tax solution would close loopholes.
You and I may have discussed this in a prior conversation. I don't remember, so forgive me if I retread old ground.The "fair tax" benefits the wealthy because they spend a smaller proportion of their income than those in lower income levels.
Indeed we did, but I was being a bit of a jackass in that thread so I deleted my post. I will try and be more civil and politeon here.
Anyways the Income tax already is hurting poor people so it obviously is doing the thing you are against. And I don't understand the whole "poor people spend more" argument, can you please explain?
If I have 100$ and someone else has 10$ than who is going to buy more stuff? Obviously the person with 100$. i don't understand the argument that poor people spend more, is there something I'm not understanding?
It's a percentage thing. If you compare someone making an income of $50,000 (Net) to someone making a comparatively high income of $1,000,000, then the spending and saving habits of each will likely vary widely. The person making $50,000 may spend 90% of their income and saves/invests 10%. Under the "fair tax" scenario, 90% of his income ($45,000) would be taxed. However, say the person making $1,000,000 spends 50% of his income and saves/invests 50%. 50% of his income ($500,000) would be taxed. While the higher income would contribute more tax dollars, his tax burden would be significantly less.
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