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Non-Tech : Kirk's Market Thoughts
COHR 148.85-1.9%Nov 25 3:59 PM EST
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Brian Sullivan
To: rdkflorida2 who wrote (4840)6/12/2017 12:03:11 PM
From: Kirk ©1 Recommendation   of 26622
 
The trouble with any sales tax is it is regressive AND in some states like CA where we already pay a 9 to 10% sales tax, depending on what city/county you buy something, it raises taxes on most everyone at the low end.
And let's have a national sales tax and move to elimination of the income tax. Let's get some income from the cheaters in the cash economy. Thoughts?
Tax cheating is tiny compared to the write-offs we allow billionaires to get by "donating" their fortunes to self-monuments created to give away their wealth and employ their heirs.... such as Chelsie Clinton making a fortune working for her parent's charitable foundation or the Packard Foundation.

I'd rather see us limit the deduction to charity to 4 times the MEAN annual salary in the US.... give incentive for the top to figure out how to raise that salary of the lower paid workers.
Ignoring the payroll tax, which really is a tax since it is not invested like government worker pension contributions here in Taxifornia, the amount of federal taxes people pay who make under $50K a year is very low once you start adding in deductions, credits for ACA, etc. and for many, the Fed tax is actually a credit due to the ACA subsidy. Of course, much of that is giving back the "ACA Tax" that all of us self employed pay to insure the sick who can't get a full time job thus they tripled our rates to get these folk insured.
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