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I' m on sabbatical (doing research at university in UK).
Have no income, (my university in India is paying me)
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Hi Folks.
During the 1980's & 1990's I became fed up wth UK taxation on everything fom Income to a box of matches, so I took my skills & knowledge off to the Mid-East.
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 How much tax will I pay with a 45,000 salary? |
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likethemsexe | Wouldn't a consumption tax be the most fair form of taxation for rich, poor, or in between? |
Tax brackets, flat tax, blah blah blah. Wouldnt a consumption tax be the most FAIR form of tax?? |
 |
 
i_lost_10_pounds
|
first get rid of income tax.. then talk about consumption tax... quit wasting my time boy... hit the books.. not your head. |
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Wayne Z
 |
No.
A consumption tax would have to be one rate.
As a general rule, the poor and middle class spend more of their income than the rich therefore shifting the tax burden down.
A consumption tax would be great if you make over $200k per year. No so great for everyone else. |
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fcabanski
|
No, and here's the reason why.
When it was first proposed and implemented the income tax was a flat tax. People paid a % of income, period. The trouble came as more and more exemptions and adjustments were added to the tax code.
State sales taxes, very low right now, already are pretty complex. TX state sales tax comprises hundreds of pages of forms, regulations, exceptions, exemptions and complications. If a national sales tax of 30% or so is ever passed, imagine the lobbyists jumping in and all the exemptions and complications that will arise. Not to mention fraud.
Do the poor pay sales tax on food?
Do non-profits or charities or churches pay it?
What happens when a company buys its supplier in order to avoid sales tax?
Plus there's the danger of the "fair tax" added on top of income tax. This could happen if either the states raise income tax levels because the federal income tax disappears, or if the fed re-instates "low rate" income taxes in the future. Many European nations have this, a "fair" consumption tax added on top of income tax. In the UK it's called VAT, the "Value Added Tax."
National sales tax is nice as described in its Utopian version. The Utopian version of income tax is just as nice. |
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jaretr72
|
No it wouldn't be fair. The poor don't pay taxes right now anyway. They get more back than what they pay in by way of earned income credits and such. The consumption tax would cause them to pay. |
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bostonianinmo
 |
No, it would be a major break for the wealthy but would hit the poor and middle class VERY hard.
The fairest tax ever devised is a graduated income tax such as we currently have. Taxes are based upon the taxpayer's ability to pay -- and that is the FIRST rule of taxation: Make sure that the taxpayer can afford to pay the tax!
What makes a $60,000 tax on a new $200,000 home sound like a good idea to you? Or an extra $6,000 in tax on a new $20,000 car just to get your tags?
Sales taxes (your so-called "consumption" taxes) are the WORST possible form of taxation as they hit those who can ill-afford to pay them the hardest. IMHO, they should be banned entirely. |
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wartz
|
Define fair. If you think taxing the poor more and the rich less is fair, then go for it. |
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Timmay
 |
yes, for everyone. but wouldn't that discourage consumer consumption and spending and thus impact the economy negatively? just a thought. I like the idea, though, and I think some of the candidates have some excellent ideas on taxing. it does seem most just and fair, though, based on a certain type of logic. |
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TROUBLE
|
sure |
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We Walk Aløne
|
Yes it is fair because...
The rich will still spend money on the most expensive items out there and thus pay more taxes based on the percentage. Then you have the middle class whose spending habits should change too much and they will be contributing their part in the taxes. And the poor will still spend the same amount.
Why do I say they will spend the same amount of money? Because they wont be paying income tax anymore.
Libs are afraid of any sort of flat tax or consumption tax because it makes the field 'too level' and they can't gorge the rich. With a flat tax or a consumption tax it makes it so "it's raining at both ends of the field"
I am NOT rich but if you look up some IRS stats you will see that a LARGE precentage of the rich pay the taxes of this country and that the top 1% of the richest people in America are taxed cruely for their wealth. |
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Ninja Turdel
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oh yeah ron paul? |
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SuperCactus
 |
Yes, vote for Ron Paul. |
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