Fair Tax Act: Stop consuming fucko

[jazzy]

The Fair Tax Act is, at its core, a bill that would tax consumption and remove the taxes on income. Many proponents of the bill believe it will reduce the overhead cost of maintaining the IRS and "tax season" while opponents of the bill believe, as it's currently written, would harm the poor more than high earners, as the lower class typically uses more of their income for consumption than the rich.

 

Here's my 23 cents on the matter:

I do believe there needs to be intense scrutiny in the current income tax code. The complexity of filing taxes is a clear example of lobbyists creating an insanely complicated tax code to their benefit. We now know even people like Trump (lol) have abused the tax system for years to pay zero in income tax. It's time for a change.

 

I think a larger consumption tax, based on categories, would be wise. Things like jet airplanes for citizens or multi million yachts can eat a much higher sales tax rate, while things like groceries, medical care, etc should have an effective 0% tax rate.

 

I'm not sure Fair Tax is the right solution, but it's a beginning of a discussion to resolve the absurdity of the tax situation in America. Nobody has as complicated tax code as we do. A consumption tax is also in the right direction for non-essentials as we need to reduce the amount of shit we're buying and placing into the ocean. Forcing people to be wiser about how they spend on unnecessary purchases would hopefully reduce waste.

 

Finally, we need to be careful about eliminating the income tax for the rich. An incredibly high sales tax only motivates the wealthy to spend on large purchases overseas, rather than here. Certainly a higher sales tax is warranted for some purchases but we need to be careful not to let multi-millionaires avoid income tax, and sales tax at the same time. That's an even bigger L for all of us.

[Iota]

i don't pay my taxes yet

[kabLe]

Anyone who believes Uber has never turned a profit should have their right to vote removed

[Wawa]

The complexity of filing taxes is intentional by design--yet another way of transferring more wealth from the working class (wage earners) to parasites.  The Fair Tax Act has no shot of passing if it has real substance in helping the poor and undermining the wealthy, it will only pass under the guise of such if the reverse is true.  Thanks to the lobbying of corporate interests, the latter scenario is the most feasible.

[Pyro Looga]

I hate income tax so I support the bill