1. Mooncatt's Avatar
    The politics section has been slow lately, and I've just completed several books on economics and taxes. That, plus it being income tax season in the U.S., and I figured I'd see if anyone feels like discussing it or changing it.

    For starters, I'm for the Fair Tax (HR 25). Abolish the IRS and the income tax, and switch to a simple and fully transparent consumption tax on spending above the poverty line.
    02-12-2017 04:02 PM
  2. Mike Dee's Avatar
    I've always felt we should be on a consumption based system.
    05-14-2017 08:01 AM
  3. Mooncatt's Avatar
    I've always felt we should be on a consumption based system.
    I lived in Texas which uses consumption taxes instead of an income tax, and I much preferred it over federal income tax filing. Now, though, I'm careful how I word it because sales taxes are typically regressive. Texas attempts to offset that with different rates on different types of goods.

    The key distinguishing part of the Fair Tax is the prebate system which turns it into a naturally progressive system in a very streamlined and efficient manner. It's rather ingenious when you think about it, because it's mostly automatic and your effective rate is based on your personal spending choices.
    05-14-2017 08:12 AM

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