Rich Americans Save Tax Cuts Instead of Spending, Moody's Says

[Torie]

Also, what do you guys think about phasing out the income tax with something like a VAT?

Putting aside the regressive aspects, one problem is a transitional one. Folks like yours truly have been paying income taxes all their lives, and now just when we stop earning much money, but are spending a fair amount, what we have left is now hit with a big VAT tax. The same dollars can be subject to either an income tax, or a VAT, but doing both with the assumption that there is not this transitional problem, and only one tax is in play, would create claims of errancy and unfairness.

[TheDeadFlagBlues]

Also, what do you guys think about phasing out the income tax with something like a VAT?

States should get rid of their sales tax for a VAT.

[Fmr President & Senator Polnut]

Also, what do you guys think about phasing out the income tax with something like a VAT?

States should get rid of their sales tax for a VAT.

I found the US tax system perplexing.

* federal income tax
* state income tax
* state sales taxes
* and even larger city sales taxes....

Too complex and unnecessary.

I can't stand that "taxation is theft" BS - it pays for more than 'entitlements', it's the price you pay for living in liberal democracy... move on.

I'm all for reducing tax burdens, but someone on 60,000 will notice 30% out of the pay much more than someone on 250,000 missing 45%... just saying.

Mind you, only 3% of taxpayer pay more than they get in standard deductions and benefits...

[Obnoxiously Slutty Girly Girl]

Also, what do you guys think about phasing out the income tax with something like a VAT?

States should get rid of their sales tax for a VAT.

I found the US tax system perplexing.

* federal income tax
* state income tax
* state sales taxes
* and even larger city sales taxes....

Too complex and unnecessary.

I can't stand that "taxation is theft" BS - it pays for more than 'entitlements', it's the price you pay for living in liberal democracy... move on.

I'm all for reducing tax burdens, but someone on 60,000 will notice 30% out of the pay much more than someone on 250,000 missing 45%... just saying.

Mind you, only 3% of taxpayer pay more than they get in standard deductions and benefits...

Taking something from people without their consent is theft, so yes, taxation is theft.

[Fmr President & Senator Polnut]

Also, what do you guys think about phasing out the income tax with something like a VAT?

States should get rid of their sales tax for a VAT.

I found the US tax system perplexing.

* federal income tax
* state income tax
* state sales taxes
* and even larger city sales taxes....

Too complex and unnecessary.

I can't stand that "taxation is theft" BS - it pays for more than 'entitlements', it's the price you pay for living in liberal democracy... move on.

I'm all for reducing tax burdens, but someone on 60,000 will notice 30% out of the pay much more than someone on 250,000 missing 45%... just saying.

Mind you, only 3% of taxpayer pay more than they get in standard deductions and benefits...

Taking something from people without their consent is theft, so yes, taxation is theft.

Definition of theft is 'intent to permanently deprive'

Only 3% of taxpayer do not get their taxes returned to them in standard deductions or entitlements. Not taking into account infrastructure building and maintenance, the military, police, fire etc etc...

It's actually not that bad a deal... the taxation is theft stuff is tea-party, fanatical BS... you want to pay for roads, garbage collection, water infrastructure, electricity infrastructure... go right ahead.

[Obnoxiously Slutty Girly Girl]

Also, what do you guys think about phasing out the income tax with something like a VAT?

States should get rid of their sales tax for a VAT.

I found the US tax system perplexing.

* federal income tax
* state income tax
* state sales taxes
* and even larger city sales taxes....

Too complex and unnecessary.

I can't stand that "taxation is theft" BS - it pays for more than 'entitlements', it's the price you pay for living in liberal democracy... move on.

I'm all for reducing tax burdens, but someone on 60,000 will notice 30% out of the pay much more than someone on 250,000 missing 45%... just saying.

Mind you, only 3% of taxpayer pay more than they get in standard deductions and benefits...

Taking something from people without their consent is theft, so yes, taxation is theft.

Definition of theft is 'intent to permanently deprive'

Only 3% of taxpayer do not get their taxes returned to them in standard deductions or entitlements. Not taking into account infrastructure building and maintenance, the military, police, fire etc etc...

It's actually not that bad a deal... the taxation is theft stuff is tea-party, fanatical BS... you want to pay for roads, garbage collection, water infrastructure, electricity infrastructure... go right ahead.

So if armed thugs on the street rob you of all your money, it's okay as long as they use some of that money to go buy something for you you didn't really want?

Stating that taxation is theft is just stating the plain truth. Though armed robbery is the more accurate description really.

[Fmr President & Senator Polnut]

Armed thugs don't return that money either directly or through services...

Ugh, why am I bothering...

[Obnoxiously Slutty Girly Girl]

Armed thugs don't return that money either directly or through services...

Ugh, why am I bothering...

But if the thugs then performed any service for you, their crime becomes acceptable?


All I'm doing is applying to the agents of the State the same basic human morality that everybody else is expected to follow. I know it can be an earth-shattering notion for those who believe the State has the Divine Right to rule however it sees fit without regard to otherwise universal conceptions of morality.

[opebo]

it really seems like some liberals just want to tax the rich heavily to punish them and redistribute the wealth.

the only thing redistribution does is stagnate the growth of the economic pie.  a much better plan is to concentrate on encouraging the habits that grow the pie (e.g. work, savings, investment).

Oddly enough those 'habits' (actually all behaviors are imposed by the State, but leaving that aside) lead to economic collapse without their exact counterpoints - leisure, consumption, and demand.  For the lack of these latter, redistribution is the only remedy.

[WillK]

Also, what do you guys think about phasing out the income tax with something like a VAT?

States should get rid of their sales tax for a VAT.

I found the US tax system perplexing.

* federal income tax
* state income tax
* state sales taxes
* and even larger city sales taxes....

Too complex and unnecessary.

I can't stand that "taxation is theft" BS - it pays for more than 'entitlements', it's the price you pay for living in liberal democracy... move on.

I'm all for reducing tax burdens, but someone on 60,000 will notice 30% out of the pay much more than someone on 250,000 missing 45%... just saying.

Mind you, only 3% of taxpayer pay more than they get in standard deductions and benefits...

Taking something from people without their consent is theft, so yes, taxation is theft.

People consented through the political process and also through consenting to be part of society.

[WillK]

.
 I'm for cutting military spending too, but I'm less sure of what we can or cannot cut with regards to the military (but certainly waste can be cut).

The vast majority of the defense budget is a waste since it is mostly redistribution of public money to defense contractors to build things that we dont really need.