Do you agree the best way to tax the rich more than the poor is by getting rid of all taxes except for sales taxes?
The rich buy more, and buy more expensive things, and, as a result, will pay more in taxes. The poor buy less and, thus, pay less in taxes.
And since we got rid of the all the other taxes, the poor will pocket more money, which they can use on purchasing more things, like a nicer house, or a nicer car, or better tools for their job, or new tools for their dream job..
Your thoughts, please?
- random_manLv 73 months agoFavorite Answer
This is an interesting look at US taxation:
I don't agree with your plan to get rid of all taxes except sales taxes.
If we were to do that on a revenue-neutral basis, the sales tax required would be quite high - probably 25% or perhaps more, in order to fund the government.
The rich do buy more things, but it's a declining percentage of their income, in general. Lower-income people spend pretty much everything they make on basic necessities. Higher income people tend not to spend all their income.
- 3 months ago
You needn't look any further than to Lincoln for why the tax system is so screwed up and WHY it does not work since it has become a methodology of extortion for international criminals and their cohorts that have been dumped here and called CITIZEN...
And Jefferson Davis Same Problem lots and lots of foreign involvements on both sides of that coin...
- JOHN BLv 63 months ago
The poor have a personal deduction of $9600 plus deductions per child and head of household. Those will be gone and the amount of the sales tax will probably double from it's present.
No, they will not be helped.
- ?Lv 63 months ago
There are also excise taxes, property taxes, and estate taxes that usually affect the rich more than the poor. Of course, there are excise taxes on cigarettes and alcohol which would still affect the poor more than the rich.
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- ?Lv 73 months ago
I always thought that the sales tax idea is fair. However, consider that fairness works both ways. Today, the rich pay most of the taxes while the poor pay none. The sales tax plan would make sure that everyone has skin in the game, including the poor.
- Mr. SmartypantsLv 73 months ago
Sure! And the best way to protect yourself from COVID is to slit your throat. 8^)
Republican tax plans all seem to involve getting rid of progressive taxes and substituting regressive taxes. Sales tax is the MOST regressive tax. So as to shift the burden of taxation off the rich and onto the middle class and the 'working poor'.
Someone who works for min. wage and has to spend every cent for food and other necessities, will pay sales tax on every penny they earn. But someone who has enough money that he can put half (or more) away, in investments, pays no sales tax, either on the investment money or the money the investments bring in!
This the ultimate Republican wealth-concentrating wet dream. Don't tax the rich, tax the poor!
- EdWinterLv 73 months ago
Bass-ackwards, AnonnieGurl, and VERY WELL DONE at that, too! lol
Google "regressive taxes". That should get you off to a good start.
- Anonymous3 months ago
That would be fine by me.
I'm a wealthy person but live a pretty frugal lifestyle. I'll keep getting richer especially if there are no capital gains taxes, no income taxes, no property taxes, etc.
If idiots who borrow money to buy things they can't afford like cars, vacations, clothes, iphones and restaurant meals want to pay voluntary taxes, I won't complain.
Sales tax really doesn't seem to deter most people from spending when they shouldn't.
ETA: "The poor buy less and, thus, pay less in taxes." The poor would pay tax on more money than they actually earn because they spend more money than they actually have. The rich would pay tax on a very small percentage of their income/assets as opposed to the 110% the poor would pay.
- 3 months ago
Why do you think it is your right to make the people who went out, worked hard and did it right, pay for your lazy ***
- Anonymous3 months ago
The rich would get it back in their tax refunds because *everything* they pay for is "business related"