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fair or unfair taxation?

By Nobody following x   2012 Aug 13, 5:46am 2,415 views   5 comments   watch   nsfw   quote     share    


It is actually highly distorted toward low income family. Hypothetically, if every household spends $10,000 on the consumable goods, then every one pays $1,000 for the 10% consumption tax. That would mean that if you are making $20K a year, that is 5% tax. If you are making $20M, then the tax is less than 0.005%. Of course, the Rich will pay higher education costs for the kids, better luxury cars, bigger house, buy more luxury stuff, hire "Slaves" etc. So they will pay a little more than mere 0.005% each year. But I doubt they will spend 5% of their income on just the consumption tax alone every year.

What do you think? Is it a fair taxation method?

1   Bellingham Bill   ignore (5)   2012 Aug 13, 1:12pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bellingham Bill says

You really believe this?

Sure. The 2% FICA cut has been taken by landlords via rent increases. The Bush tax cuts went right into higher housing costs.

All taxes come out of rents.

I welcome Romney/Ryan jacking up taxes on working Americans. Best way to liquidate the rentiers.

Your desire for the system to inflate instead is talking your book, obviously.

2   futuresmc   ignore (1)   2012 Aug 13, 1:56pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bellingham Bill says

I welcome Romney/Ryan jacking up taxes on working Americans. Best way to liquidate the rentiers.

No, the best way to liquidate the rentiers is to tax their activities directly. I know there's no political will for it, but harming the working class and poor, merely to indirectly get at the rentiers is not the way to go.

3   Bellingham Bill   ignore (5)   2012 Aug 13, 2:35pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Correction accepted : )


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