quote:

The income tax system has a lot of problems and should be totally revamped and replaced.

That we can agree upon!!!!

But a consumption tax is regressive and impossible to switch to....

I am sick of regressive taxes....

You have already listed carve outs and exemptions......dont you think that those carve outs would become a tool just like our tax laws now? You list eggs, milk, bread???? Dont you think the seafood lobby would make donations to candidates to include seafood in the exemptions, then there is the cheese lobby and then the pasta crowd....etc. And so on....,

quote:

Originally posted by JTEX:

quote:

Originally posted by Steve Bertram:
I understand a flat tax perfectly well, that is why I don't support it. It is just another gift to the wealthy. The top tax rate is just about 1/2 of what it was in 1980. I'm not fooled in the least as to what the GOP has been doing, moving the burden of funding the government on to the middle and lower tax brackets. Anybody paying attention can see what has been happening. That is one of the many reasons that I do not support tariffs.

Yeah...well....there where so many deductions that the wealthy never paid the percentage.....just feel good bullshit that dummies like you keep repeating.....

What's the fair share?

I would like to see the top tax brackets rates raised by several percentage points, closer to 40% than 37 and change, as well as seeing the lower tax brackets rates lowered by a few percentage points. I know what it is like to struggle and have empathy for those that do. I'm not struggling, a lifetime of conservative monetary choices have put me in a position to ride out Trump's stupidity quite well. The booming Biden years sure as hell didn't hurt either.

Cry me a river Yakob, you poor thing you. You did well in life, STFU about paying your fair share, would you?

JTex,

You keep confusing two completely different concepts.

A consumption tax is totally different than an income tax. Your concern that a consumption tax is regressive (taxing the lower classes unfairly) can be addressed by not taxing certain staples. For example, basic groceries, cars up to a ceiling (but not luxury cars), etc.

But as soon as you start talking about a flat tax, you are back to income tax, an ill-conceived concept to start with, but the one we are stuck with for now.

I know it's hard to stop thinking about taxes based on income, as it's been in place since before any of us were born, but it's a bad theory, a bad concept, and there is a better way. Try to be open minded. i know that's hard.

quote:

Originally posted by lavaca:
JTex,

You keep confusing two completely different concepts.

A consumption tax is totally different than an income tax. Your concern that a consumption tax is regressive (taxing the lower classes unfairly) can be addressed by not taxing certain staples. For example, basic groceries, cars up to a ceiling (but not luxury cars), etc.

But as soon as you start talking about a flat tax, you are back to income tax, an ill-conceived concept to start with, but the one we are stuck with for now.

I know it's hard to stop thinking about taxes based on income, as it's been in place since before any of us were born, but it's a bad theory, a bad concept, and there is a better way. Try to be open minded. i know that's hard.

A tiered income tax system in which the highest income earners pay higher rates than those at the bottom is far preferable to either a flat tax or tariffs. You may recall that it was tariffs that brought us the great depression.

Being open minded is great, following a cult leader blindly, less so.

In Jtex's defense, he is easily confused.

quote:

Originally posted by lavaca:
JTex,

You keep confusing two completely different concepts.

A consumption tax is totally different than an income tax. Your concern that a consumption tax is regressive (taxing the lower classes unfairly) can be addressed by not taxing certain staples. For example, basic groceries, cars up to a ceiling (but not luxury cars), etc.

But as soon as you start talking about a flat tax, you are back to income tax, an ill-conceived concept to start with, but the one we are stuck with for now.

I know it's hard to stop thinking about taxes based on income, as it's been in place since before any of us were born, but it's a bad theory, a bad concept, and there is a better way. Try to be open minded. i know that's hard.

I certainly did combine them. That a flat income tax is totally different than a flat vat tax

Sure, I can get behind a flat income tax, after certain thresholds

Not a flat vat tax

I'm no cult follower. While some of you don't agree with it (Jeffe), I've advocated for replacing the income tax with a consumption based tax system for nearly 40 years. And that was when I was flat broke, so it wasn't out of self-interest.

One thing that I can agree with Trump about is that I prefer a tax system that can be cheated on.

AI Overview

Donald Trump has made several notable comments regarding taxes, both during his 2016 presidential campaign and more recently. Here's a breakdown of his key statements and related actions:

1. "Smart" for minimizing tax burden:

During a 2016 presidential debate, Trump responded, "That makes me smart" when Hillary Clinton suggested he may have paid no federal income tax in some years.

Trump also stated that he "brilliantly" used tax laws to his advantage, minimizing his tax burden and reinvesting in his businesses.

Trump argued that as a businessman, it was his responsibility to minimize tax obligations to the greatest extent possible, which allowed him to reinvest and create jobs [1aki.1.16].

2. Acknowledging not paying federal income tax:

Trump acknowledged using a $916 million loss from his 1995 tax returns to avoid paying federal income taxes for years.

He did not specify how many years federal income tax was avoided.

3. Linking tax returns to Clinton's emails:

During the 2016 campaign, Trump repeatedly stated he would release his tax returns if Hillary Clinton released her deleted emails.

4. Recent proposals regarding taxes:

More recently, Trump has proposed eliminating federal income taxes and replacing them with tariffs.

He has also suggested ending taxes on Social Security benefits, though a recent tax bill did not include this provision.

Trump has also expressed interest in eliminating taxes on tips.

Important Considerations:

Trump's comments and actions related to taxes have been a frequent topic of debate and scrutiny.

Some have interpreted his stance on minimizing his tax burden as evidence of shrewd business practices, while others have criticized it as a failure to pay his fair share.

Skepticism and concerns about the potential economic impact have met his proposals to eliminate federal income taxes and replace them with tariffs.

Note: Some sources referencing Trump's tax comments are older, from his 2016 campaign. The context of those comments within that specific time period is important to consider.