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39
Boomer Socialism at it again (twitter.com)
posted 27 days ago by Ahaus667 27 days ago by Ahaus667 +39 / -0
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– CaptainTrouble 3 points 27 days ago +3 / -0

Currently, consumption taxes (including sin taxes), tariffs and other trade taxes, resource taxes (tied to environmental taxes), business profit taxes, capital gains/dividends taxes, payroll taxes, estate taxes and user-fees.

Income taxes only represent 40% of revenues earned by state and federal governments. Over the long-term a reduction of income taxes to 0 is likely only going to reduce total revenues by 25% (due to the improved economic gains leading to higher other taxes).

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– antisimp 1 point 27 days ago +1 / -0

Not a fan of sales taxes and tariffs but I get what you are saying. There's ways to get tax dollars that will cover all the essential things without punishing poor people and middle class people with income tax.

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– CaptainTrouble 1 point 27 days ago +1 / -0

It's not about "punishing poor and middle-class" people because I could careless if you were poor or rich. It's all about making taxation fair and reasonable in amount. The best way to tax society is a 10% consumption tax which includes rental payments and the differential between cost and income (profit) for interest paid on debt. Then trade taxes (tariffs) and abolish all other taxes including abolishing property tax and income tax. You can fund infrastructure, military and the justice system without taking on any debt. But in lieu of that, eliminating income taxes would be a decent move.

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– antisimp 1 point 27 days ago +1 / -0

But consumption taxes and tariffs just make everything more unaffordable for people who aren't rich or wealthy or upper middle class.

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– CaptainTrouble 1 point 27 days ago +1 / -0

Who cares about those people? Work more then or get a better job. Also, your statement is false anyway.

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