Fair tax vs flat tax

Posted by admin     Category: Taxes

On this Independence day, a lot of United States citizens agree that we need to abolish the I.R.S. and replace our current tax system with something that is both fair for everyone and that can not be abused by any political party and targeted against any group or individual.

A lot of people do not understand the difference between a “Fair Tax” and a “Flat Tax” but it is pretty simple actually.

A Fair Tax (which I highly recommend, by the way) is simply a consumption tax or somewhat like a National Sales Tax. In essence, if you want to pay less taxes then purchase less products and services that are taxed. Hence, if Bill Gates wants to buy a $100,000,000.00 yacht, then he will pay a lot in taxes. If you decide to fore go buying a new car this year, then you will not pay taxes on the money that you would have spent on that car.

A Flat Tax us totally different. Basically, with a flat tax “they” pick a percentage, say 20%, and everyone pays that percentage of their gross income. Using the Bill Gates analogy, let’s say that he makes $1 Billion dollars, then he will pay $200 Million in taxes. Another man that makes $10,000 will only pay $2000 in taxes.

Come on people, let’s declare our Independence from Government abuse, political corruption, and our current unfair tax system…call your representative and tell them that you want a Fair tax and for the IRS to be abolished.

TaxReform.Gov

Posted by admin     Category: Taxes

BacusAndCamp_2

Two lawmakers are looking for suggestions from the American people on how we can make our tax code better. You can go to their website, http://www.taxreform.gov and actually give them your suggestions.

My personal opinion is replace our income taxes with a progressive national sales tax.

An example:

A national retail sales tax with exemptions for certain expenses necessary to live such as most food bought from grocery stores, prescription medication, energy and utilities. This tax rate could be around 10%.

A higher sales tax, say 20%, on new luxury items such as jewelry, cars and boats above a certain value, planes, etc

An even higher sales tax rate, maybe 25%, on “sin” items such as alcohol, tobacco, soft drinks, and snacks that are known to be bad for people such as chips, etc.

Remove the inheritance tax and get rid of the IRS completely.

If you are like me, and have complained about our tax situation, now is your chance to let your voice be heard by people that are trying to do something about it. Got tell’em what you think.

States try to increase taxes on cigarettes

Posted by admin     Category: Taxes

When our pinhead moral majority thinks about sin taxes they are all for increasing taxes on cigarettes. Their arguments range from “people shouldn’t smoke so it is Ok for them to pay more in taxes” to “do it to smokers cause health care costs to rise so they should pay higher taxes.”

Well, for the second argument, who is to say that smokers do not already pay for their own health care and research and development into drugs for commonly considered “smokers diseases” often save lives of non-smokers.

For that first argument, if we are going to penalize smokers why stop there. You like having a Diet Dr. Pepper or some sort of soda? Each can should be taxed at the same rate as a pack of cigarettes. Same for all soft drinks because they are bad for you, are linked to cancer, and they cause obesity…even the diet ones. What about a tax on every item sold at all fast food restaurants. An order of fries…slap that same tax on them. Want a burger made with white bread with those fries…another tax. Soft drink to wash all that crap down…more taxes!

Why stop there? Chips, cookies, donuts, the list goes on and on just on the bad foods that we consume as Americans…if we tax all bad foods just like cigarettes we will have instant surpluses for our politicians to spend on whatever they spend our money on.

Another staple of American life that studies have proven to be bad for your health…television, computers, pda’s, cell phones, etc. Anything more than 2 hours in front of any of them is bad for your health because you are not moving enough. So, why not tax lazy people too…watch more than 2 hours of TV…a tax on you for each additional hour per day that you watch. We could even combine everything; spending more than 2 hours per day combined, online, watching TV, or playing on your pda or phone…tax ya!

If we did all of this, fairly soon only the rich could smoke, drink, eat bad foods, and enjoy television. As all of us poor folk live longer and healthier, and the rich folks die off quickly, we can have their money too…

Then we will truly be living in Shangri La; we can use their money to do all of the things that we want…sit in front of a TV having a smoke and a coke. Well, at least until we die off and then just the government (of what people, by what people, and for whatever people are left) remains.

Our tax code

Posted by admin     Category: Politics, Taxes

When the tax code was created in 1913, it was about 400 pages. Today, it’s over 70,000 pages. We need to simplify the code and make it fairer to American families.

Can a people tax themselves into prosperity?

Posted by admin     Category: Taxes

Can a people tax themselves into prosperity

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