No Income Tax; 5-10% Federal Consumption Tax

[No Free Beer]

What do you all think about this idea?

Put into consideration that we are 17 trillion dollars in debt.

Would you all consider this?

Edit: Please, no anarchist opinions. I realize most of you don't believe in federal laws. Thank you.

 

[mport1]

What do you all think about this idea?

Put into consideration that we are 17 trillion dollars in debt.

Would you all consider this?

It would be an improvement on today, but why not just go for no taxes whatsoever? Taxation is theft, and we need to get rid of it altogether.

 

[Pauls' Revere]

as in a flat consumption rate? or would this be metered/measured somehow individually? but I agree with the previious post, a tax, is tax, is a tax.

 

[No Free Beer]

a 5-10 percent flat consumption tax.

the poor tend to buy cheaper goods. they would only pay 10 percent of what the product costs.

the rich tend to buy more expensive products. they would pay 10 percent on the product they purchased.

it's fair.

whether uwant to believe it or not, the government needs some sort of revenue.

on top of that, we are 17 trillion dollars in debt.

 

[echebota]

a 5-10 percent flat consumption tax.

the poor tend to buy cheaper goods. they would only pay 10 percent of what the product costs.

the rich tend to buy more expensive products. they would pay 10 percent on the product they purchased.

it's fair.

whether uwant to believe it or not, the government needs some sort of revenue.

on top of that, we are 17 trillion dollars in debt.

Its not my debt. The federal government is free to default. The hell with the federal taxes. The only federal service we might need is federal courts and small nuclear only force standing army, for which states can just pay small yearly amounts - that's all.

 

[No Free Beer]

Its not my debt. The federal government is free to default. The hell with the federal taxes. The only federal service we might need is federal courts and small nuclear only force standing army, for which states can just pay small yearly amounts - that's all.

and what do you think happens to your money when the gov defaults?

 

[mport1]

a 5-10 percent flat consumption tax.

the poor tend to buy cheaper goods. they would only pay 10 percent of what the product costs.

the rich tend to buy more expensive products. they would pay 10 percent on the product they purchased.

it's fair.

whether uwant to believe it or not, the government needs some sort of revenue.

on top of that, we are 17 trillion dollars in debt.

Then they should get that revenue using voluntary means instead of through the theft of taxation. I'd prefer the Feds get no revenue and just go away.

It is not "our" debt. I had nothing to do with it, and I should not be held responsible for the debt accumulated by politicians. They have stolen my money and used it, along with my future earnings they plan to steal, as collateral for their debts.

​

 

[coffeewithchess]

What do you all think about this idea?

Put into consideration that we are 17 trillion dollars in debt.

Would you all consider this?

Income isn't the problem. It's the spending. Give them more revenue, and they will find more ways to waste...and always need MORE.

 

[AJ Antimony]

Obviously a consumption tax is better than an income tax. I once heard Peter Schiff say the consumption tax is the best type of tax because it forces savings and frugality. Obviously the best federal tax is zero, but if we have to have federal taxes, it seems consumption would be the most preferred.

 

[Galileo Galilei]

Let's restore the tax rates of 1811 under James Madison, when federal spending accounted for only 1% of the GDP, the lowest in US history. This even more amazing when most people knew the truce of 1783 was about to end.

 

[echebota]

and what do you think happens to your money when the gov defaults?

What mport1 sad.

About money... If you mean my savings - then if you don't save in fiat paper and fixed income debt paper, then it's not influenced too much by what is used as money in a long term. If you mean fiat paper money that is pushed on us by force that allows government scum to steal and kill, then this paper would take a hit and most likely would be deemed almost worthless, and hopefully we'll enter a new phase of more honest money. The sooner we put a stop to a fiat fraud - the better.

 

[angelatc]

What do you all think about this idea?

Put into consideration that we are 17 trillion dollars in debt.

Would you all consider this?

Sure! And the SCOTUS will be sure to make it clear that Congress can mandate how much we consume. What could go wrong?

 

[Simple]

and what do you think happens to your money when the gov defaults?

We bite the bullet and start over, and then we can return to growth just like Iceland did.

 

[luctor-et-emergo]

There is no way a sales tax will be 'enough' for politicians.
Here in the Netherlands, we used to have 19% sales tax, 6% on food.
Now they found that the deficit is too great, and there has to be 'austerity'.

Absolutely nothing is cut, maybe some proposed increases, but what is done,
taxes are raised, which one ? Sales tax.
Why ? Because tax on income will not get through as easily.
Increasing sales taxes, these politicians can agree on quite easily.

So starting this October, sales tax will be 21%, and 7% on food.
Tax on gasoline is already bad, a gallon of gas costs you around 8-9$ here when converted from gallon/L euro/$.

Spending is the problem, as long as politicians spend so much money, they will have to tax more.
You can think of all sorts of ways to provide the government with a steady stream of taxpayer money.
I have however been convinced that starving the beast is the only sound thing to do.

I'd like to say, sales tax is a more 'fair' tax, as it does not tax what someone already owns but merely what someone acquires. I am however still of the opinion that a tax like this would not solve the spending problem nor the power grabbing of various politicians.

 

[Kluge]

There is no way a sales tax will be 'enough' for politicians.
Here in the Netherlands, we used to have 19% sales tax, 6% on food.
Now they found that the deficit is too great, and there has to be 'austerity'.

Absolutely nothing is cut, maybe some proposed increases, but what is done,
taxes are raised, which one ? Sales tax.
Why ? Because tax on income will not get through as easily.
Increasing sales taxes, these politicians can agree on quite easily.

So starting this October, sales tax will be 21%, and 7% on food.
Tax on gasoline is already bad, a gallon of gas costs you around 8-9$ here when converted from gallon/L euro/$.

Spending is the problem, as long as politicians spend so much money, they will have to tax more.
You can think of all sorts of ways to provide the government with a steady stream of taxpayer money.
I have however been convinced that starving the beast is the only sound thing to do.

I'd like to say, sales tax is a more 'fair' tax, as it does not tax what someone already owns but merely what someone acquires. I am however still of the opinion that a tax like this would not solve the spending problem nor the power grabbing of various politicians.

You're right that a tax will not solve problems--but your post got me curious, is there not much of a black market in the Netherlands? Here in the states, high sales taxes often trigger that sort of activity.

 

[luctor-et-emergo]

You're right that a tax will not solve problems--but your post got me curious, is there not much of a black market in the Netherlands? Here in the states, high sales taxes often trigger that sort of activity.

Totally depends on how you define black market in this case, but I'd say, not much.

 

[PierzStyx]

Sure! And the SCOTUS will be sure to make it clear that Congress can mandate how much we consume. What could go wrong?

Funny you mention that. I just finished Brave New World.

 

[truelies]

Obviously a consumption tax is better than an income tax. I once heard Peter Schiff say the consumption tax is the best type of tax because it forces savings and frugality..................................QUOTE]


and FORCING people to forego enjoying the fruits of their labour is 'good' because.............????

We work to live. We don't live to work.

 

[MikeStanart]

Yeah, lets give the FEDERAL GOVERNMENT, an entity that is almost impossible to effect by grassroots; the ability to tax us!


Terrible idea, no matter how well intentioned.

 

[No Free Beer]

Income isn't the problem. It's the spending. Give them more revenue, and they will find more ways to waste...and always need MORE.

you would be eliminating the income tax. therefore, they would have less to spend.

but there would still be enough for defense purposes, roads, and other constitutional proceedings.