Who Really Pays Taxes? Message Board

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Non-Tech : Who Really Pays Taxes?

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To: BWAC who wrote (627)	1/7/2003 1:26:50 PM
From: Mana	Read Replies (1) of 666

1.) Simplify the process? Before Sch D became in vogue, I think about 70% of the taxpayers filed a 1040EZ form. Can't get much closer to a "Postcard" return than that. Sch D became in vogue because of the complicated tax code. It has become impossible for me to do the 1040EZ unless I want to pay more to Uncle Sam. 2.)Compliance cost would be shifted from the government to the private sector. You may be right on this but I like it better than the current system. The IRS has destroyed countless lives. It will be a great day when that organization is disbanded. 3.)A $5000 per person exclusion would help a family of 4. But what about that every 4th year that they buy a new car? Or a computer? Or do a significant home repair purchase? Buy a boat? Or some jewelry for the wife? Almost anything of these sorts would screw up the average $50k Household income budget by subjecting any discretionary purchases to 18% tax. A big deal for 75% of the population, a concern for 15%, no sweat for 10%. Teh $5000 exemption would serve for food, clothing, necessities in most years. Beyond that would INCREASE the poors tax burden percentage. This is where you and I disagree. I believe the money we save from not paying the income tax could easily make up for the 18% sales tax. The biggest plus I see is the individuals freedom being restored. Money will no longer be forcefully taken from us by the income tax. We will still have to pay a tax but we will have the freedom to pick and choose the way that tax is paid. Plus Remember how the Luxury Goods tax destroyed demand I could be wrong but I thought Luxury taxes were imposed on non-productive goods over 30,000. I don't see a majority of Americans being affected by this.-----Plus I don't think that this has affected SUV sales. Most of which are over that threshold. 4.) The retail sector would have a compliance nightmare with a $10,000 exemption card. I don't like the card idea but why would there be a compliance nightmare. I don't see a problem if you make it like a Visa CC and it is accepted everywhere.

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