Charles Hugh-Smith: Deep State and the Dollar

[charliebrown]

Re: Charles Hugh-Smith: Deep State and the Dollar

Speaking of which I just finished the dreaded job of figuring my taxes today. I will file tomorrow or monday after I look over each number again to make sure everything is square. This system is rediculess, forget a deduction and you lost money to the government, forget a 1099 or something and you're a tax cheat,
that will be punished with a loan shark amount of penalty and interest. And then we have the hypocrites on the hill going after pay-day loan stores. Then
you have to keep a file cabinet full of papers for 10 years to prove that you are innocent.

This is why I really support a national sales tax. Once paid, your tax obligation is gone. No audits, no 10 record keeping, no once a year struggle with filing. I suppose this could be big burden for small business, and black market transactions, but I would trade the current situation.

[shiny!]

Re: Charles Hugh-Smith: Deep State and the Dollar

Speaking of which I just finished the dreaded job of figuring my taxes today. I will file tomorrow or monday after I look over each number again to make sure everything is square. This system is rediculess, forget a deduction and you lost money to the government, forget a 1099 or something and you're a tax cheat,
that will be punished with a loan shark amount of penalty and interest. And then we have the hypocrites on the hill going after pay-day loan stores. Then
you have to keep a file cabinet full of papers for 10 years to prove that you are innocent.

This is why I really support a national sales tax. Once paid, your tax obligation is gone. No audits, no 10 record keeping, no once a year struggle with filing. I suppose this could be big burden for small business, and black market transactions, but I would trade the current situation.

Absolutely!

[lektrode]

Re: Charles Hugh-Smith: Deep State and the Dollar

the only way eye see a nat'l sales tax or VAT working out better for We, The People is that the income tax would need to be adjusted back to what it was when it was first implemented, back in 1913: 1% on incomes above $6000 - adjusted for the 99% loss of purchasing power of the USD since then - which would eliminate it for the bottom 90% (IIRC)

the states would also have to adjust their rates/structures accordingly

but yeah - while it would certainly make things easier - its quite doubtful - considering the corrupt porkfest known as Congress - that a VAT would be an either/or question, we'd likely end up with BOTH

[shiny!]

Re: Charles Hugh-Smith: Deep State and the Dollar

the only way eye see a nat'l sales tax or VAT working out better for We, The People is that the income tax would need to be adjusted back to what it was when it was first implemented, back in 1913: 1% on incomes above $6000 - adjusted for the 99% loss of purchasing power of the USD since then - which would eliminate it for the bottom 90% (IIRC)

the states would also have to adjust their rates/structures accordingly

but yeah - while it would certainly make things easier - its quite doubtful - considering the corrupt porkfest known as Congress - that a VAT would be an either/or question, we'd likely end up with BOTH

We'd have to eliminate the income tax entirely because it would inevitably creep up again. Then we'd have both a high income tax and a high national sales tax. It has to be one or the other, not both.

[BadJuju]

Re: Charles Hugh-Smith: Deep State and the Dollar

I don't see how a sales tax benefits anyone but the 1%. A sales tax disproportionately affects the middle and lower classes.

[lektrode]

Re: Charles Hugh-Smith: Deep State and the Dollar

I don't see how a sales tax benefits anyone but the 1%. A sales tax disproportionately affects the middle and lower classes.

good point, mr juju.

why one particular state is STILL ranked number one, in terms of 'fairness'

[shiny!]

Re: Charles Hugh-Smith: Deep State and the Dollar

The national sales tax plan, called the Fair Tax, includes a monthly prebate based on Federal Poverty Level guidelines.

National Fair Tax FAQ - Prebate

[lektrode]

Re: Charles Hugh-Smith: Deep State and the Dollar

not that i'm against this, but it does provoke a few questions...

The national sales tax plan, called the Fair Tax, includes a monthly prebate based on Federal Poverty Level guidelines.

National Fair Tax FAQ - Prebate

Is the FairTax fair?

Yes, the FairTax is fair, and in fact, much fairer than the income tax. Wealthy people spend more money than other individuals. They buy expensive cars, big houses, and yachts. They buy filet mignon instead of hamburger, fine wine instead of beer, designer dresses, and expensive jewelry. The FairTax taxes them on these purchases. If, however, they use their money to build job-creating factories, finance research and development to create new products, or fund charitable activities (all of which help improve the standard of living of others), then those activities are not taxed.

or maybe they'll build $90millon condos in manhattan ? (thats for ONE unit at One57, a 1000ft tall monument to conspicuous consumption - but hey, its about job creation, so....)

and considering how the fed's use of 'hedonics' results in "subdued inflation" - for them anyway - since, afterall, The Rest of US CAN 'substitute' hamburger for filet, with PBR's for chateau lafite, an all - why not let the 'job creators' off the hook when investing in offshore/robotic factories - then we can 'hedonically substitute' skilled labor with more ipads...

oh, but wait - we cant eat an ipad?

[shiny!]

Re: Charles Hugh-Smith: Deep State and the Dollar

No tax solution will be perfect. Holding our breaths for a perfect solution will only ensure that we keep the current one. The current system is so horrible that I don't see how the Fair Tax could be worse. The Fair Tax system is worthwhile for restoring our individual privacy, if nothing else. Imagine no more personal IRS audits where you're guilty until proven innocent.

[lektrode]

Re: Charles Hugh-Smith: Deep State and the Dollar

No tax solution will be perfect. Holding our breaths for a perfect solution will only ensure that we keep the current one. The current system is so horrible that I don't see how the Fair Tax could be worse. The Fair Tax system is worthwhile for restoring our individual privacy, if nothing else. Imagine no more personal IRS audits where you're guilty until proven innocent.

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