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Consumption Tax ?

Discussion in 'Politics, Elections & Legislation' started by shot410ga, Dec 11, 2012.

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  1. shot410ga

    shot410ga Well-Known Member

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    I can see national consumption tax coming down the line. Maybe 1-2% nationally except for food/prescriptions. Maybe a point-of-sale to the end user. Just watch. Every nation in Europe has one, why not us.
     
  2. John Galt

    John Galt TS Member

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    Unfortunately they also have income taxes in Europe too. They don't have sales taxes in Europe, they have VATs (Value Added Tax). It's not the same as a sales tax although it's similar in some respects. Does anybody seriously think we need to add another large tax to the tax burden we already suffer from.

    BTW, the VAT was sold to the gullible pupulace simarly to our income tax. It was just to be a little bitty thing that nobody would even notice, only rich people would be affected. The VATs in Europe started our at 1-2% and gradually got raised to the 10-12% range. Sound familiar?
     
  3. Hammer1

    Hammer1 Active Member

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    .

    Our income tax started at a very low rate too...

    But politicians will spend every penny they can tax, borrow, or create by inflation.

    So figure any federal sales tax will soon hit 10% or higher and be on top of all our other taxes.

    If we could repeal the income tax, I would be in favor of a national consumption tax.

    Of course, the argument that every European country has a sales tax is an outstanding argument for us not to have one.

    .
     
  4. CharlieAMA

    CharlieAMA TS Supporters TS Supporters

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    We need to repeal the 'Death Tax'.
     
  5. dmarbell

    dmarbell Active Member

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    shot410ga,

    U S Retail Sales run about $350 billion per month. That's $4.2 trillion per year. A 1% tax would yield $42 billion, 2% double that. Do you think that would make a dent in the U S budget of $2.5-3.0 trillion?

    Danny
     
  6. John Galt

    John Galt TS Member

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    "Of course, the argument that every European country has a sales tax is an outstanding argument for us not to have one."

    I'll second that.
     
  7. BT-100dc

    BT-100dc Active Member

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    I can see the Tea Party brewing. I'll need to dust off my Gasden Flag (Don't Tread On Me). BT100dc
     
  8. stokinpls

    stokinpls Well-Known Member

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    Sounds great, unless you make a living selling something.
     
  9. midalake

    midalake Well-Known Member

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    If there could be a Vat tax over the hot air Barker breathes...well debt gone.

    GS
     
  10. BT-100dc

    BT-100dc Active Member

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    May want to list to a song written by George Harrison and located on the Beatles Revolver album; it's called "TAXMAN". I believe it was released in 1966 as things haven't changed all that much. BT100dc
     
  11. Joe Potosky

    Joe Potosky Well-Known Member

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    <iframe width="640" height="360" src="http://www.youtube.com/embed/7aywtAJgHsY?rel=0" frameborder="0" allowfullscreen></iframe>
     
  12. Brian in Oregon

    Brian in Oregon Well-Known Member

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    NO MORE TAXES.

    CUT SPENDING.
     
  13. shot410ga

    shot410ga Well-Known Member

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    dmarbell: I'm not suggesting it's good idea. I'm forecasting that it is coming, in the works, gonna happen. A VAT is the same as a consumption tax. The Republicans will go for it because the poor folks will have to chip in. The Democrat's will go for it because the rich will have to pay more for those BMW's, and Cadillacs. Just watch.....
     
  14. Hammer1

    Hammer1 Active Member

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    Before an election, the rich are those who make over $250,000 per year.

    No one else was going to pay even one thin dime more in taxes than they already paid.

    Of course, we all know that we're now going to pay thousands of more dollars in taxes each year.

    .
     
  15. darr

    darr Well-Known Member

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    For God's sake NO MORE TAXES.There is not a revenue problem there is a spending problem.Why don't we get Greece to annex us and get it over with.


    Darr
     
  16. willing

    willing Member

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    I think midalake and galt can argue for many more years since they have a long time to grow up.

    Bill
     
  17. Setterman

    Setterman Well-Known Member

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    First lets quit giving money to foreign countries and do away with "grants". Got any idea how much our state and the Feds give away in grants?
     
  18. lel4866

    lel4866 Member

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    This sounds similar to the Fair Tax, and I'm all for it as long as it REPLACES the income tax.

    It has several advantages. First, except for enforcing collection at the business level, it ELIMINATES the IRS. Less big brother oversight. No more filing for individuals. Almost no ability to avoid it illegally (except for bartering).

    Second, as a side effect, it eliminates most tax attorneys and tax accountants...all non-productive occupations.

    Third, it constantly reminds people how much money they are giving to the federal government...every time they buy something. I would love a version which required receipts to be printed which showed you the local sales tax, state sales tax, and federal sales tax...each time you bought something.

    Fourth, it can be made intelligently progressive. I'd be happy with a much lower rate for basic food, clothing and shelter.

    Fifth, in a pure consumption tax, neither investment, nor investment income would be taxed.
     
  19. AEST BOSS

    AEST BOSS Member

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    I'd be happy with a FLAT consumption tax. Make it 15%. EVERYONE has to pay it....gasoline, cars, boats, McDonalds McRibs, Nike Air Jordans.

    Finally....we get the other 50% to start paying into the Federal system.
     
  20. slowdp

    slowdp TS Member

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    Obastard is going to increase the tax on the rich and give the money to the low income or no income people. That will increase his votes. 2 percent will vote against him but over 50 percent will vote for him.

    He will win the votes.
     
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