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The simple tax:
- Thread starter bigarrow
- Start date
how can income be considered an asset? All you're advocating is adding on a net worth tax to the income tax.Quote from bigarrow:
All taxes will be based on assets, income will be counted as assets also, no exceptions, everybody pays the same percentage based on assets. No tiered system, no long tax code, elimination of inheritance tax, capital gains tax, dividend tax, home owners deduction, all deductions will be eliminated. With assets in the USA apx. 200 trillion an asset tax would be apx. 1.3%. This would be a boom to small business and middle class, upper middle class and the small time wealthy.
Quote from arbs-r-us:
Everyone with cash/stocks/bonds/pm will move the assets off shore. Go back to your hole Mr. Liberal/Communist.
Make up your mind am I a liberal or a communist. They are not the same thing in case you didn't know. And a tax system has nothing to do with either. This is a good day for you, you've learned something new.
Quote from oldtime:
what in the world does that have to do with freedom?
In your post that I quoted you said, "Nobody should have to pay any taxes until they have got their feet on the ground and are finally making more than they need to stay out of poverty."
Again: Freedom ain't free; not for the rich nor for the poor.
Quote from Bob111:
exactly..what's the point of having any assets(savings,estate,stocks,bonds) then? to pay more and more every year?(since you taxing salary as an asset,income as asset and any assets themselves)
The idea was that the rate would be so low that the benefits would out weight the liabilities and spread the tax base out.
In reality there will be no overhaul of the tax system, it's just to complicated to change everything. No fairfax no flat tax. Our only hope is our brave representatives in congress will improve the present system and do a wiser job of spending our tax dollars, which is to say there is no hope.