Flat Tax (National Sales Tax) Debate

[Aardvark]

in fact, they actually cost tax payers in any given state, according to CNN, over 35 million dollars a year in welfare recipients. this is a company that is doing 1 billion dollars of business a day. thats insane.

 

I'd imagine that they pay a fair bit more tax than 35 million dollars a year.

[Aardvark]

in fact, they actually cost tax payers in any given state, according to CNN, over 35 million dollars a year in welfare recipients. this is a company that is doing 1 billion dollars of business a day. thats insane.

 

I'd imagine that they pay a fair bit more tax than 35 million dollars a year.

[Douglas]

I still don't understand this. Just because i'm not paying myself doesn't detract from the fact that i've worked hard to achieve that profit. Therefore that profit has been earned.

 

If that's the rule then it's arbitary and illogical.

 

Also' date=' good luck if you get 2000% return on your investment, but remember when investing you are taking a risk. That risk means that you are taking a chance and having to use your brain to make the best possible investment, achieving efficent capital allocation. that is wor of a sort, therefore investment income can be considered to be earnt. No one is giving money away in the stock market.[/quote']

If you paid youself, that would be earned income, you'd have to pay taxes on it. Then you'd have to pay yourself for mowing your lawn and painting your house.

 

As for investments, if you make a bad investment, the IRS (internal revenue service) allows you to write off the loss.

[Douglas]

I still don't understand this. Just because i'm not paying myself doesn't detract from the fact that i've worked hard to achieve that profit. Therefore that profit has been earned.

 

If that's the rule then it's arbitary and illogical.

 

Also' date=' good luck if you get 2000% return on your investment, but remember when investing you are taking a risk. That risk means that you are taking a chance and having to use your brain to make the best possible investment, achieving efficent capital allocation. that is wor of a sort, therefore investment income can be considered to be earnt. No one is giving money away in the stock market.[/quote']

If you paid youself, that would be earned income, you'd have to pay taxes on it. Then you'd have to pay yourself for mowing your lawn and painting your house.

 

As for investments, if you make a bad investment, the IRS (internal revenue service) allows you to write off the loss.

[Douglas]

capital growth is encouraged, because the only people with a voice are the people with the big companies. did you know that the top 20% of americans (wealth wise) share between themselves 80% of all the money in america. thats amazing. and yet, they still push to save money, rip off their employees, and actually ENCOURAGE their employees to sign up for welfare...ehh ehhhm(wal mart) in fact, they actually cost tax payers in any given state, according to CNN, over 35 million dollars a year in welfare recipients. this is a company that is doing 1 billion dollars of business a day. thats insane.

Walmarts has to pay the minimum wage, I didn't know you could collect welfare with an income equal to the minimum wage.

[Douglas]

capital growth is encouraged, because the only people with a voice are the people with the big companies. did you know that the top 20% of americans (wealth wise) share between themselves 80% of all the money in america. thats amazing. and yet, they still push to save money, rip off their employees, and actually ENCOURAGE their employees to sign up for welfare...ehh ehhhm(wal mart) in fact, they actually cost tax payers in any given state, according to CNN, over 35 million dollars a year in welfare recipients. this is a company that is doing 1 billion dollars of business a day. thats insane.

Walmarts has to pay the minimum wage, I didn't know you could collect welfare with an income equal to the minimum wage.

[mattd]

Yes, but surely you see the downside of discouraging capital growth in a capitalist economy?

 

 

I don't see it as discouraging growth. We have a real problem with misrepresentation in this country, with everyone focusing on looking good on paper. If growth happens, then society as a whole benefits. I say keep a low capital gains tax, a NST on certain purchases, and the elimination of ordinary income taxes. That way the wealthy still get hit on taxes, encourages people to save money through investment by buying and holding. We'd get rid of these scheisters who flip stocks around trying to make easy money while screwing over traditional investors.

[mattd]

Yes, but surely you see the downside of discouraging capital growth in a capitalist economy?

 

 

I don't see it as discouraging growth. We have a real problem with misrepresentation in this country, with everyone focusing on looking good on paper. If growth happens, then society as a whole benefits. I say keep a low capital gains tax, a NST on certain purchases, and the elimination of ordinary income taxes. That way the wealthy still get hit on taxes, encourages people to save money through investment by buying and holding. We'd get rid of these scheisters who flip stocks around trying to make easy money while screwing over traditional investors.

[SCOOTER93]

>>>>Further, corporations don't pay taxes, people do......corp taxes are simply passed on the people.<<<<

 

Close, but not quite. CUSTOMERS pay taxes, and wages, and health benefits &&&&.