Many countries have VAT's. What it does is prevent loopholes and cheating. You buy something, you pay the VAT. Businesses would still be held responsible for record keeping just as they are now. You just don't want to give up the control the government has over its citizens with the current tax code. You still haven't told me how it would be different from now in collecting taxes from businesses?
retired benefits major hike
- Thread starter fedupforsure
- Start date
His math is correct.
Wally
BrownCafe Innovator & King of Puns
So the rich guy pays a whole lot more!
DriveInDriveOut
Inordinately Right
I checked it.
The data seems to add up, and it all points to the conclusion that you're butthurt about money.
You constantly cry and complain about money. Vantexan's money, rich people's money, church money, tax money, oil money, money money money.
It's a strange obsession.
if the individual was making 200 million rather than 20 million
Looks like you've become a member of Van's..... Protect The Rich Club.
DriveInDriveOut
Inordinately Right
Geeeezus try a calculator.
SMH
And you're always the first one in line to defend the rich while crying about the deficit. The Bush tax cut in 2001 added 4 trillion to the total national debt. The Trump tax cut added 8 trillion dollars to the national debt. Those numbers were published by WAPO a few weeks ago AND they were number confirmed by the CBO. Now haven't we done enough for the rich in recent years.
DriveInDriveOut
Inordinately Right
No, I'm not.
Because I'm not absolutely obsessed with other people's money like you are. You're constantly obsessing about how it's not fair other people have more money than you. It's so weird man. It's their money, not yours. Why don't you worry about your money, or lack of money I should say.
3% of one million is $30k. $30k times 20 is $600k.
DriveInDriveOut
Inordinately Right
Be easy on him, these leftists think math is racist. Calculators are basically Adolf Hitler.
No, I'm just not willing to lie like you do to get at other people's money.
By your own admission your income hasn't exceeded the minimum filing requirements in recent years meaning no federal liability. Now replacing the FIT with a VAT will slap a 23% surcharge onto nearly everything you buy . Now just how will it benefit you when you have no FIT liability to begin with?
A VAT would require a degree of voluntary compliance higher than could be reasonably expected.
Now over here sits my piano. Now let's say that you came here and bought my piano for let's say $500 and you paid me in paper dollars. Now do you actually think that I would go to the bother of filling out a VAT voucher, stroke a check and mail it in?
Whatever benefit a VAT might have means nothing if it can be easily cheated on.
Wasn't it other people's money who paid for your heart operation?
Wally
BrownCafe Innovator & King of Puns
It's not my money to protect.
The Bush tax cut as well as Trump's greatly improved the economy. But as usual the Democrat controlled Congress spent plenty. On top of two wars being fought. Y'all demonized all those older mostly white folk protesting the spending back when the national debt was $10 trillion in 2010. Now it has more than tripled and you still squeal like a stuck pig over any proposed cuts.
Wasn't it other people's money that paid for your heart operation?
Try this one out. Bryce Harper and Trea Turner each make 27 million dollars a year playing baseball in a taxpayer funded ball park. Yet, they pay the same rate of state income tax as the tax rate paid by the guy who can't afford to take his kids to the game.
So in addition to protecting the Bryce Harper's and the Trea Turner's of the world who each make 27 million dollars a year playing a little kid's game what do you have to offer that working stiff who can't afford to take his kids to the game.
Wally
BrownCafe Innovator & King of Puns
The rich pay much more. Fair tax. Nobody is being protected.
Watch the game on TV if you can't afford it
Then why should the public bonds and the liability that goes with them be dumped onto the guy who can't afford to go to the game.?
And your so called "Fair Tax"?
Even if in the unlikely event a "Fair Tax' bill even makes it into congressional committee before it can even get out of committee here are the kinds of questions that will require answers:
1. What will the setup costs be for an entirely new system of taxation?
2. What will the collection enforcement costs be and what percentage of the total Fair Tax liability can the enforcement network
be able to collect 70%....50%....30%?
3. If the 23% VAT tax fails to fully replace dollar for dollar the eliminated revenue streams, when the proponents said it will what
options will Congress have at it's disposal to make up the shortfall when 71% of all federal spending is mandated by law and
there's no going back to the old system>
4. When you slap a 23% surcharge on medical supplies and equipment what impact will it have on healthcare spending
including Medicare?
5. What impact will the elimination of the tax deduction incentive have on charitable giving and the charities ability to care for
the needy?
6. What impact will the elimination of the tax deduction incentive have on churches and the humanitarian causes they serve
both here and abroad?
I'm certain Wally that you took all of these matters into consideration before coming out in support of a VAT tax. So tell us
your solutions to these troubling questions.
