Tree Spud
5 year old buck +
You are very smart, more importantly experienced and cautious ... do what you can to bump up against the edges, don't make yourself a target ... ;)
.
Anybody have an LLC
- Thread starter Shad DeBoor
- Start date
You are very smart, more importantly experienced and cautious ... do what you can to bump up against the edges, don't make yourself a target ... ;)
.
M
MoBuckChaser
Guest
Smart?.....LOL Hardly, I gots common sense, that over rules being smart 99% of the time!
Someday isle
5 year old buck +
Maybe MO - but there's lots of wisdom that comes from a combination of common sense and experience.
M
MoBuckChaser
Guest
It ain't that easy!
Guy owns business #1, lets say farming. He has to invest a million dollars worth of equipment and land to make a $80K a year Living.
Different guy owns business #2, lets say a accounting Business. All he needs is a pencil to make a $80K a year living.
Pretty tough to have any guy #1's if he does not get to write off or depreciate his equipment! Thus making a new flat tax system, which a lot of people are screaming for, worthless!
So how would you or anybody reform the tax code to keep a even playing field? Because I have no Idea how to change it!
yoderjac
5 year old buck +
Eliminate income tax and use sales tax for everything. It doesn't matter if a guy is a billionaire. You can't take it with you. His money only benefits him when he spends it, not when he earns it. It is a level playing field for everyone but it will never happen. First, we a consumption based economy and it would change us to a savings based economy. Second, the tax code is the primary vehicle for social engineering. Way too many big money interests have an interest in preserving the status quo.
Thanks,
Jack
M
MoBuckChaser
Guest
Ya lets force everyone to buy nothing with the old put everything on a sales tax! Once again......
Last edited by a moderator:
yoderjac
5 year old buck +
Absolutely. Why force folks to buy anything? Folks will buy what they need. Wealthy folks can spend as much as they want and are taxed accordingly and folks struggling are only taxed on what they spend. Beyond food and shelter, everyone controls the amount of tax they pay. The collection mechanism is already in place. Companies will continue to find ways to make folks think they need their products. The economy will go on. It would put a lot of accountants and tax preparers out of business though.
Thanks,
Jack
M
MoBuckChaser
Guest
Bahahahahahahahahahahahahaha! Ruin our total economy, put everyone middle class out of work because no one will buy anything produced in this country by them! Once again......
Last edited by a moderator:
yoderjac
5 year old buck +
And why would eliminating income tax have any affect on who folks buy from? Pretty hard for some to think outside the box. Sales tax is independent of whether items are produced by the middle class or anyone else. The inefficiency cause by folks doing kabuki dances around the over complicated income tax code are what is having a negative effect on the economy.
Thanks,
Jack
M
MoBuckChaser
Guest
No, what is having a negative effect right now is the 40% of this countries people that pay no taxes, sales or income, and your plan would double that. You should really go to bed and wake up tomorrow and try a different approach Cliff.
yoderjac
5 year old buck +
Just the opposite. Sales tax is enforced pretty well. The black market economy avoid income tax. There would be no income tax to avoid. You certainly have not made a case for continuing our overly complex income tax system.
Thanks,
jack
M
MoBuckChaser
Guest
No matter how arrogant you get cliff, the fact is, the system in place now will be there the day you die, and the system you propose now, will never get past this forum! Bahahahahahahahahahahahaha!
yoderjac
5 year old buck +
If you actually read the posts, you will see that is exactly what I said so I guess we are now in agreement. :D Have a great night Mo!
M
MoBuckChaser
Guest
You must have some of the best dope at your place since cheech and chong! LOL
Edit: And who could ever follow or read any of your posts? We all feel like we need a fricken Enigma machine to decipher any of them! WTF? Bahahahahahahaha!
`
Last edited by a moderator:
Reagan
5 year old buck +
Are the end of days coming?
Yoder is actually posting something I agree with. I'm all for the Fair Tax Plan. Before you bash it, read the plan.
Everyone will pay tax. Even the free loading welfare types. Anytime they buy something other than food, they will pay federal tax. That includes illegals, drug dealers and any other criminals. You buy something, you pay tax.
Saving will be rewarded. If you save for the future, you aren't taxed.
The tax code would then be simple. The amounts of hoops people jump through to prepare or avoid tax in this country is insane. This thread shows that.
The cost of goods would remain the same. Business taxes would be eliminated and competition would drive the price of goods down to offset the consumption tax that is put on it.
The tax plan would no longer be used for social engineering.
It's no different than the states that have no income tax now and only survive off of a sales tax. The few states that have that system now are doing well compared to the high income tax states.
The only way it will ever pass is if we really did drain the swamp in DC. I don't expect that to happen.
When a tax plan is hated by 98% of all politicians, you know it has to be good for the people.
Sent from my iPad using Tapatalk
Yoder is actually posting something I agree with. I'm all for the Fair Tax Plan. Before you bash it, read the plan.
Everyone will pay tax. Even the free loading welfare types. Anytime they buy something other than food, they will pay federal tax. That includes illegals, drug dealers and any other criminals. You buy something, you pay tax.
Saving will be rewarded. If you save for the future, you aren't taxed.
The tax code would then be simple. The amounts of hoops people jump through to prepare or avoid tax in this country is insane. This thread shows that.
The cost of goods would remain the same. Business taxes would be eliminated and competition would drive the price of goods down to offset the consumption tax that is put on it.
The tax plan would no longer be used for social engineering.
It's no different than the states that have no income tax now and only survive off of a sales tax. The few states that have that system now are doing well compared to the high income tax states.
The only way it will ever pass is if we really did drain the swamp in DC. I don't expect that to happen.
When a tax plan is hated by 98% of all politicians, you know it has to be good for the people.
Sent from my iPad using Tapatalk
Reagan
5 year old buck +
I should add.
The accountant who needs to only buy a pencil will be in trouble. How many accountants do we need when the tax code is simplified?
How much will the farmer spending $1million to make $80 grand make if he isn't taxed? More than he is now.
If the farmer decided he didn't want to spend the million to make $80 grand, then the supply of farmers would decrease and that demand (and price) of their goods would increase. The increase of the price of their goods would encourage more people to farm. The free market, if we had one, would balance it all out.
The law of supply and demand does work. We only partially experience it because we have too much regulation to really have a truly free market.
Ok. Now I have to go check a clock and look in a mirror. Agreeing with the Yoder professor makes me think time has stopped, or maybe we have entered into some alternative reality where black is white white is black.
Sent from my iPad using Tapatalk
The accountant who needs to only buy a pencil will be in trouble. How many accountants do we need when the tax code is simplified?
How much will the farmer spending $1million to make $80 grand make if he isn't taxed? More than he is now.
If the farmer decided he didn't want to spend the million to make $80 grand, then the supply of farmers would decrease and that demand (and price) of their goods would increase. The increase of the price of their goods would encourage more people to farm. The free market, if we had one, would balance it all out.
The law of supply and demand does work. We only partially experience it because we have too much regulation to really have a truly free market.
Ok. Now I have to go check a clock and look in a mirror. Agreeing with the Yoder professor makes me think time has stopped, or maybe we have entered into some alternative reality where black is white white is black.
Sent from my iPad using Tapatalk
M
MoBuckChaser
Guest
Then tell me how it works with my first example.
Guy owns business #1, lets say farming. He has to invest a million dollars worth of equipment and land to make a $80K a year Living.
Different guy owns business #2, lets say a accounting Business. All he needs is a pencil to make a $80K a year living.
Pretty tough to have any guy #1's if he does not get to write off or depreciate his equipment! Thus making a new flat tax system, which a lot of people are screaming for, worthless!
M
MoBuckChaser
Guest
Sorry, it will not work! That is why it will never be put in place. We would all be school teachers, with no food to eat.
Edit: and here are just some of the reasons it won't work!
http://www.dontmesswithtaxes.com/2016/01/6-reasons-why-a-flat-tax-is-not-a-good-idea.html
Last edited by a moderator:
M
MoBuckChaser
Guest
And read #3 very carefully! Here it is!
3. Beware the embedded national sales tax.
While we hear a lot about the flat tax, some proposals <<cough, Cruz, cough, Paul, cough>> also include a component that is much like the Value Added Tax, or VAT, that's in place across Europe. A VAT essentially is a sales tax where the tax is collected in stages from each producer on the supply chain rather than all at once from retailers. This pushes up the price of the goods that consumers eventually pay.
Those added production costs are harder for lower-income earners to cover. As with the single income tax rate, the VAT-increased prices take a larger percentage of a poor or middle-class family's income than they take of a rich family's income. And poorer families tend to put more of their income toward consumption of, as noted in point #2, necessary items.
3. Beware the embedded national sales tax.
While we hear a lot about the flat tax, some proposals <<cough, Cruz, cough, Paul, cough>> also include a component that is much like the Value Added Tax, or VAT, that's in place across Europe. A VAT essentially is a sales tax where the tax is collected in stages from each producer on the supply chain rather than all at once from retailers. This pushes up the price of the goods that consumers eventually pay.
Those added production costs are harder for lower-income earners to cover. As with the single income tax rate, the VAT-increased prices take a larger percentage of a poor or middle-class family's income than they take of a rich family's income. And poorer families tend to put more of their income toward consumption of, as noted in point #2, necessary items.
