Quote:
Originally Posted by cschin4
Um, no it isn't. Doesn't anyone hear remember history or recall the "luxury tax"? They tried that exact thing and whom did it hurt? Didn't hurt the rich guy but the yacht industry and things consumed by the rich went down the tubes and the WORKER who makes that stuff was the one who lost his job. Sheesh. You cannot tax people into prosperity. You can't make poor people rich by making rich people poor. If you allow people to prosper and enjoy their prosperity, then you open the door for others to do so as well. When you tax, tax, tax, you destroy the incentive to work, produce, and take risks with one's own capital. The exact opposite is the end result of taxation. Tax revenues to the govt actually DROP when taxes are raised. Doesn't anyone understand this? Ugh.
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Huh? I respect you and all, but this doesn't make any sense.
I'm proposing to offload some of the income tax in favor of some consumption tax. I'm not asking people to take on extra tax burdens on TOP of income tax.
Not taxing income means more in the pockets of those who work, especially ones who put in extra work. This helps to encourage productivity in our economy-- something that's badly needed-- and the extra money would not deter consumption and spending... because again, while you may pay more taxes for buying something, you also pay less when you make money.
The government has to get their revenue somehow.... But if you really want to stick with more income tax, that's fine too. That's where we are right now. Or do you mean you would prefer that taxes in general be like...abolished?
Eh, whatever. This is just a mere musing on my part anyway.