Is The US Headed Towards A Denmark Economy ? ie. 63% taxes

[jaley]

Quote from libertad:

Consumption tax would mean....

When one makes a purchase of a tangible consumable product, one would pay a 10% tax....

The current system is also a consumption tax....

ie One walks into a store and buys a tube of toothpaste which has a pricetag of $1.00....

Today's progressive system....

Person 1 pays 10% tax rate......Cost $1.10

Person 2 pays 20% tax rate..... Cost $1.20


Person 3 pays 34% tax rate..... Cost $1.34

The 10% consumption tax

All persons pay $1.10 for the same tube of toothpaste....

everyones tax liability is the same for the same amount of income. people with higher income are only paying more on the extra money

 

[the1]

LOL. That's probably true. "Sign here or I'll cap your punk ass"

Quote from IanMacQuaide:

The strokes of the Tax Pen are enforced at gunpoint.

 

[FightTheFuture]

Quote from libertad:

The 10% consumption tax

Only 10%? Wouldn't it have to be about 25% just to keep up with the federal monstrosity? If 10% to start, it would slowly creep up anyway.

The fed gov is spending about $12k per head and the state and locals are doubling that amount.

I think everyone should contribute something instead of paying no income tax.

I would first like to see less gov spending, get that under control.

 

[libertad]

Fight The Future


Only 10%? Wouldn't it have to be about 25% just to keep up with the federal monstrosity? If 10% to start, it would slowly creep up anyway.
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It will start smaller in ordinary times....but with the economy being in a "depression state" ....the progressive system will not produce what a 10% consumption tax would produce....
and as companies relocate to the US....and when people have more in their pockets....the tax take will grow exponentially higher than it would if it were to remain progressive....in the good times....

The size of the actual economy would grow exponentially, whereas in the progressive structure....the economy would shrink....

Less is MORE....