House to vote on Consumption Tax and abolish the IRS

[Blues Man]

2020 spending was $6.6TR. Lets exclude SS and Medicare. That Leaves $4.731TR.

Interesting. If the population is 330mm, that means each person would have to pay $14.3K in sales taxes on average a year.

4,731,000,000,000

330,000,000

14,336

You can't really count the whole population since children aren't really going to be paying the sales tax

 

[Harpy Eagle]

The system is broken. I would wipe out 25% of all the spending in the current budget

The system is broken because we allow it to be so.

People whine about spending but keep voting the same people back into office and wonder why it does not get any better.

Then there are people like Ray that actually think the Repubs truly care about spending.

 

[Blues Man]

And let the show begin!.... marching bands... circus clowns... come one come all and watch the show!!

This has about as much chance as getting anywhere as a vote to cut their own salaries.
It might get 100 votes overall.

House Republicans to vote on bill abolishing IRS, eliminating income tax

Rep. Buddy Carter, R-Ga., is reintroducing a bill with several colleagues that aims to repeal the national income tax, implement a national consumption tax and abolish the IRS.

www.foxnews.com

The only reason they are doing this is because they are 100% certain it won't pass the Senate.

IOW it's just more political theater

 

[there4eyeM]

More fair would be to simply tax businesses for the labor they purchase from employees and allow the employees to keep their wages.
Then, when the employees purchase things, they pay the same type of tax on their consumption, though even in this case is should be progressive.

 

[Blaster]

The system is broken because we allow it to be so.

People whine about spending but keep voting the same people back into office and wonder why it does not get any better.

Then there are people like Ray that actually think the Repubs truly care about spending.

Both parties take money from lobbyists.

 

[there4eyeM]

The consumption tax is interesting to me. I don't know how it works exactly but it could be a more fair way to tax.

Only fair if progressive.

 

[Harpy Eagle]

You can't really count the whole population since children aren't really going to be paying the sales tax

Yep, up to just under 23 grand per adult when you only take them into account

 

[Harpy Eagle]

Both parties take money from lobbyists.

Yes they do, as there is no difference between the parties.

Yet, some people do not grasp this simple fact

 

[Blues Man]

Only fair if progressive.

You cannot realistically implement a progressive sales tax because then everyone would have to bring in proof of their income for every purchase or they would have to itemize every single thing they bought every year and report it on their taxes.

 

[Care4all]

It will get a lot more votes than you think.

This will get the libs on the record against progress.

When you buy stocks, would those stocks you buy, be hit with a consumption tax, when they are purchased, like everything else?

 

[g5000]

And let the show begin!.... marching bands... circus clowns... come one come all and watch the show!!

This has about as much chance as getting anywhere as a vote to cut their own salaries.
It might get 100 votes overall.

House Republicans to vote on bill abolishing IRS, eliminating income tax

Rep. Buddy Carter, R-Ga., is reintroducing a bill with several colleagues that aims to repeal the national income tax, implement a national consumption tax and abolish the IRS.

www.foxnews.com

I have been propounding the Fair Tax on this forum for a long time. A consumption tax is superior to a tax on production like the income tax.

 

[Zincwarrior]

When you buy stocks, would those stocks you buy, be hit with a consumption tax, when they are purchased, like everything else?

Now that might be interesting. Its a purchase, so it should be.

 

[g5000]

The idea a Fair Tax will abolish the need for the IRS is idiotic. There will need to be a federal agency to collect the tax, regardless what you call it.

 

[Blues Man]

I have been propounding the Fair Tax on this forum for a long time. A consumption tax is superior to a tax on production like the income tax.

The only thing I don't like about that plan is the monthly checks they want to send to everyone. It makes no sense to charge a rate only to plan to give money back to everyone. Just charge a lower sales tax rate and skip the extra expense of giving some of it back

 

[g5000]

When you buy stocks, would those stocks you buy, be hit with a consumption tax, when they are purchased, like everything else?

I don't see why not. You have to pay an income tax when you sell your stocks, so why not a sales tax instead when you buy them?

 

[there4eyeM]

You cannot realistically implement a progressive sales tax because then everyone would have to bring in proof of their income for every purchase or they would have to itemize every single thing they bought every year and report it on their taxes.

There are devices called computers and smart cards that can handle the details.

 

[Blues Man]

I don't see why not. You have to pay an income tax when you sell your stocks, so why not a sales tax instead when you buy them?

you only pay that income tax if you don't sell at a loss.

 

[g5000]

The only thing I don't like about that plan is the monthly checks they want to send to everyone. It makes no sense to charge a rate only to plan to give money back to everyone. Just charge a lower sales tax rate and skip the extra expense of giving some of it back

The reason for the prebate is because a sales tax is regressive. The prebate covers the tax on necessities, and everyone gets the same prebate amount regardless of their income.

 

[Blues Man]

There are devices called computers and smart cards that can handle the details.

So you want everyone to have access to your income records? I don't. The possibility for fraud is far too high

 

[g5000]

You cannot realistically implement a progressive sales tax because then everyone would have to bring in proof of their income for every purchase or they would have to itemize every single thing they bought every year and report it on their taxes.

A sales tax is not progressive. In fact, it is regressive. Everyone pays the same tax on their purchases.