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Bellingham Bill
@
2012 Aug 13, 1:12pm
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.
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.
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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?