Author Topic: Here’s what you need to know about the GOP bill to abolish the tax code  (Read 556 times)

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Offline Bigun

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But wait! There's more! More than half of the country either does not pay income tax, or have their taxes offset (or more) via social programs (welfare, child tax credits, etc).

Since they have no direct filings, they might have the impression that the federal government costs them nothing, or offers them a direct gain... Meanwhile a myriad of federal taxes are paid by them along with everyone else in a plethora of 'hidden' taxes -

Fuel taxes being a prime example, that is taxed exponentially across the whole energy landscape, and not just at the retail pump... Fuel is taxed in the machinery digging the fuel out of the ground, in the trucks that ship it to the refinery, in the trucks that ship it from the refinery into general distribution, which covers who knows how many more transportation episodes. An easy third of every gallon in the production system is uncle's rake, not including the direct tax at the retail end. How many more instances exist similar to the tax on fuel?

That on top of the inflation point already well made.

@massadvj @Bigun

That's all correct @roamer_1 and you can add to those hidden taxes the corporate income tax and all the costs of compliance (those compliance costs often far exceed actual tax liability) which cascade into the price of everything produced in this country and is not border adjustable thus putting our goods at a price disadvantage in world markets before they leave the factory.

The truth of the matter is that no one can tell you how much they pay in taxes under the current system because that number is not calculatable.
« Last Edit: January 25, 2023, 02:25:46 pm by Bigun »
"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Online roamer_1

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That's all correct @roamer_1 and you can add to those hidden taxes the corporate income tax and all the costs of compliance (those compliance costs often far exceed actual tax liability) which cascade into the price of everything produced in this country and is not border adjustable thus putting our goods at a price disadvantage in world markets before they leave the factory.


That's right @Bigun ... And Uncle Guido gets the vig, whether you make a profit or not.

Quote
The truth of the matter is that no one can tell you how much they pay in taxes under the current system because that number is not calculatable.[/size]

Right again... It is so exponential across stages, and so baked in, I doubt it is even figured in federal budgets. Certainly you or I could not approach it.

But the emphasis should be on those who think the government is not harming them - Or who even think the government is their benefactor - I doubt very much that they would be so inclined if all that baked in cost could be calculated.

And that is why I have always been *FOR* a retail only flat tax. Foremost, it is transparent - *NOT* baked in - so the real cost of government can be seen in every purchase. But also because it protects the costs of production and manufacturing from those baked-in taxes, causing cost increases that the production costs can never really afford.

And lastly, because it ties government directly to the retail market - Suddenly it is in the government's interest to keep the economic engine running full bore - Uncle still gets his vig, but it is taken only from the profit and at the end. That is a very important aspect.
« Last Edit: January 25, 2023, 06:31:47 pm by roamer_1 »

Offline Bigun

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That's right @Bigun ... And Uncle Guido gets the vig, whether you make a profit or not.

Right again... It is so exponential across stages, and so baked in, I doubt it is even figured in federal budgets. Certainly you or I could not approach it.

But the emphasis should be on those who think the government is not harming them - Or who even think the government is their benefactor - I doubt very much that they would be so inclined if all that baked in cost could be calculated.

And that is why I have always been *FOR* a retail only flat tax. Foremost, it is transparent - *NOT* baked in - so the real cost of government can be seen in every purchase. But also because it protects the costs of production and manufacturing from those baked-in taxes, causing cost increases that the production costs can never really afford.

And lastly, because it ties government directly to the retail market - Suddenly it is in the government's interest to keep the economic engine running full bore - Uncle still gets his vig, but it is taken only from the profit and at the end. That is a very important aspect.

@roamer_1 Only when every American can readily discern what all this government is really costing them will we have the possibility of beginning to rein it in. Not before!
"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Online roamer_1

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@roamer_1 Only when every American can readily discern what all this government is really costing them will we have the possibility of beginning to rein it in. Not before!

@Bigun

That's right.  :beer:

Offline corbe

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McCarthy knocks bill to abolish IRS he promised GOP rebels a hearing on

by Ryan King, Breaking News Reporter
January 25, 2023 02:06 PM


House Speaker Kevin McCarthy (R-CA) disavowed a national sales tax measure called the Fair Tax Act that he promised Republicans rebels his Congress would hold a hearing on.

Under the proposal, Congress would abolish the IRS and replace the federal income tax with a national 30% sales tax. McCarthy guaranteed that the measure would receive a hearing, but that may not necessarily mean it will get a vote on the House floor, Axios reported. A growing chorus of Republicans voiced unease at the legislation.

"No," McCarthy replied tersely when asked if he backed the measure Tuesday.

<..snip..>

https://www.washingtonexaminer.com/news/house/mccarthy-knocks-national-sales-tax-promised-gop-vote
No government in the 12,000 years of modern mankind history has led its people into anything but the history books with a simple lesson, don't let this happen to you.