- grean
- 02-19-2018, 09:17 AM
Consumption doesn't consider taxes. If the price of something, with or without tax, is raised , demand will drop. When demand drops production slows. After production slows to a certain point lay offs occur. When people don't have jobs, economy goes down.
- tinman483
- 02-19-2018, 09:38 AM
I'm just sayin (not sayin your wrong) I don't recall it that way. But I may have gotten rid of the book. Sry
- Hotrod511
- 02-19-2018, 10:17 AM
I think you have the Flat Tax confused with the Fair Tax
Flat tax. A flat tax is exactly what it sounds like: a consistent tax rate applied to all tax brackets. A true flat tax would mean, as Dr. Carson explained, that everyone would pay the same tax rate regardless of income (he suggested 10% since that “works for God”). Flat taxes are usually imposed on wages only, meaning that there’s no tax on capital gains or investments. Russia is considered to be the world's largest economy with a flat tax (some of the Baltic states also have a flat tax).
Fair Tax. The Fair Tax is capitalized for a reason: it’s a formal proposal rather than a generic term. It differs from both the progressive income tax system and the flat tax in a very dramatic way: it is not a tax on income. The Fair Tax would replace all existing income taxes - as well as payroll taxes - with a single consumption tax. The tax, as proposed, would be a 30% tax on purchases of new goods and services, excluding necessities due to a "prebate." The "prebate" is akin to a refund and is offered at the beginning of each month so that certain purchases are essentially tax-free.
Flat tax. A flat tax is exactly what it sounds like: a consistent tax rate applied to all tax brackets. A true flat tax would mean, as Dr. Carson explained, that everyone would pay the same tax rate regardless of income (he suggested 10% since that “works for God”). Flat taxes are usually imposed on wages only, meaning that there’s no tax on capital gains or investments. Russia is considered to be the world's largest economy with a flat tax (some of the Baltic states also have a flat tax).
Fair Tax. The Fair Tax is capitalized for a reason: it’s a formal proposal rather than a generic term. It differs from both the progressive income tax system and the flat tax in a very dramatic way: it is not a tax on income. The Fair Tax would replace all existing income taxes - as well as payroll taxes - with a single consumption tax. The tax, as proposed, would be a 30% tax on purchases of new goods and services, excluding necessities due to a "prebate." The "prebate" is akin to a refund and is offered at the beginning of each month so that certain purchases are essentially tax-free.
- grean
- 02-19-2018, 10:53 AM
Yep. My bad.... railing in the wrong thing.
- dilbert firestorm
- 02-19-2018, 11:22 AM
Lol...ok and just how do you expect people to pay. Originally Posted by WTF
On the honor system, or maybe a flat tax. Originally Posted by bamscram
If you have no enforcement, you haave only idiots paying taxes. Originally Posted by WTF
How do we then collect money to pay for the national defense? Originally Posted by greantaxes would be collected thru state tax agency and passed on to the US govt. like the way it was before the 16th amendment.
- garhkal
- 02-19-2018, 12:26 PM