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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.
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?