Thread: 2020 US Presidential Race

Originally Posted by bsnub

The federal government has no sales tax.

What would you call a Federal Excise Tax?

Walks like a duck, Quacks like a duck..

Originally Posted by cisco999

What would you call a Federal Excise Tax?

Walks like a duck, Quacks like a duck..

Not quite. 2.5% but only on petrol, airline tickets,tobacco, alcohol, and some health products...

Originally Posted by cisco999

Walks like a duck, Quacks like a duck..

No it really doesn't.

Originally Posted by aging one

Not quite. 2.5% but only on petrol, airline tickets,tobacco, alcohol, and some health products...

Far from an all encompassing sales tax.

while it's true that many on wall st hate/fear her, what they hate more than anything, is uncertainty...and they've got that in spades with trump. not saying that their money won't go to trump, but not nearly as much if it were romney v warren.

btw, having wall st. hate her is 100% on brand for warren....she's already fundraising on it.

and like the tides going in and out, winning primary candidates ultimately move toward the center for the general...and this will also be true for warren if she gets the nomination.

Originally Posted by raycarey

while it's true that many on wall st hate/fear her, what they hate more than anything, is uncertainty...and they've got that in spades with trump.

They don't hate uncertainty, they can profit from it.

They hate regulation, and baldy orange cunto is certainly no advocate of that, quite the opposite in fact.

Originally Posted by David48atTD

The USA needs a Consumption Tax.

great idea, newbie dave.

let's hit retirees living off their savings with a consumption tax after they've already been taxed their entire lives on their earnings at the federal, state, and local level!
let's crush the poor and working class who spend a significantly higher percentage or their income than the middle class and wealthy!

yet another really well thought out idea, newbie dave!

Originally Posted by harrybarracuda

They don't hate uncertainty

Originally Posted by David48atTD

Ray C's thoughts on Warren have come to fruition .

not sure what you're referring to, newbie dave.

my thoughts on warren were that one would have to a completely ignorant novice on US politics and policy to state that a sitting US senator with liberal leanings and strong grass roots support has 0% chance and that even dems don't like her.

Originally Posted by raycarey

great idea, newbie dave.

let's hit retirees living off their savings with a consumption tax after they've already been taxed their entire lives on their earnings at the federal, state, and local level!
let's crush the poor and working class who spend a significantly higher percentage or their income than the middle class and wealthy!

yet another really well thought out idea, newbie dave!

Ray, since you mentioned it ...

Elizabeth Warren’s wealth tax is ‘pretty nuts,’ says billionaire lifelong Democrat Ron Baron

Key Points

• Elizabeth Warren’s wealth tax is not the right idea when it comes to raising government revenue and reducing income inequality, says buy-and-hold billionaire Ron Baron.
• “I don’t think Elizabeth Warren would be successful ... if she were chosen president in getting through the policies that she’s proposing,” says Baron. “It’s pretty nuts.”
• Rather than a wealth tax, Baron suggests a value-added tax, which puts levies on goods and services during each stage of production and sale.

https://www.cnbc.com/2019/10/25/eliz...ron-baron.html



Ray glad you agree it's a great idea ... here a list of the few countries who have a a value added tax.

https://www.avalara.com/vatlive/en/v...gst-rates.html

Just think how much those poor millionaires will have to pay on their next Bentley?

Originally Posted by David48atTD

Ray, since you mentioned it ...

i didn't bring up the US needing a consumption tax, newbie dave.

you did.

but what i did notice is that you haven't addressed how your half-baked idea of instituting a consumption tax would devastate retirees who have already spent their entire lives being taxed on their income.

have at it, newbie dave.

^ Ray, I was referring to your post ... but up to you.


As for 'addressing the issue of a consumption tax' ... did you read the list of countries who have adopted it.

Each of them have made that choice ... I don't need to defend it.


But, if you do wish to educate yourself on the issue, here is Bill Gates article in Forbes ... Bill Gates Points To The Best Tax System, The Progressive Consumption Tax

or ... Why some experts want the US to adopt a VAT and other tax lessons from around the world

If you wish to read the Pros and Cons ... the positive and negative arguments, have a stab at the WSJ's article ... https://www.wsj.com/articles/should-...tax-1456715703

Andrew Yang's take on it ... https://www.yang2020.com/policies/value-added-tax/

Or The Guardian's piece ... Is it time to switch income tax with a sales tax?

wealth tax is ‘pretty nuts,’ says billionaire

That's a bit of a shocker eh?

“It’s pretty nuts.”

How so?

A consumption tax is idiotic. Most states and local governments already have sales taxes and they are all regressive and hurt the middle class and poor the most who wind up paying the bulk of theses taxes. Just a stupid distraction from taxing the uber rich which most other civil counties do.

^
exactly.

and imagine being a retiree or near retiree....you've spent the last few decades being taxed on your income by the feds, (probably the state) and the local govt.....but you've still managed to build up a nest egg to live out your days on....and now the govt is going to start taxing you on what you buy.

fuck off.

Originally Posted by raycarey

and now the govt is going to start taxing you on what you buy.

Maybe I'm not quite grasping this, but isn't that already the case?

Originally Posted by panama hat

Maybe I'm not quite grasping this, but isn't that already the case?

No because there is no sales tax on the federal level. It is left to state and local governments. So for example if I wanted to make a big purchase on say a TV I could drive down to Oregon and save 10% because Oregon has no sales tax while the state of Washington has a 6.5% tax plus the city of Seattle adds an additional 3.6% in municipal sales tax.

So potentially someone could get state county and city sales taxes all stacked on top of each other.



https://en.wikipedia.org/wiki/Sales_..._United_States

Originally Posted by bsnub

So potentially someone could get state county and city sales taxes all stacked on top of each other.

Right, I wasn't thinking about Federal level as being an option.

Thanks

(I remember well working at KMART in Skokie, Il, . . . as a cashier, mind, while at Uni.)

Originally Posted by panama hat

Right, I wasn't thinking about Federal level as being an option.

A federal sales tax would really create a massive destabilizing factor that would cause I think large scale rage across the entire political spectrum.

^ Agreed. It's unthinkable, that's why I didn't think of it

(thank you for not making any Kmart jokes)

Originally Posted by bsnub

A federal sales tax would really create a massive destabilizing factor that would cause I think large scale rage across the entire political spectrum.

So Yang is doomed then.

Originally Posted by panama hat

I remember well working at KMART in Skokie, Il, . . . as a cashier, mind, while at Uni

Now you could be the old git greeter.

Originally Posted by panama hat

(thank you for not making any Kmart jokes)

Your welcome.

Originally Posted by panama hat

Agreed. It's unthinkable

almost...

Originally Posted by David48atTD

The USA needs a Consumption Tax

^ As for 'addressing the issue of a consumption tax' ... did you read the list of countries who have adopted it?

Each of them have made that choice ... I don't need to defend it.

Originally Posted by David48atTD

But, if you do wish to educate yourself on the issue, here is Bill Gates article in Forbes ... Bill Gates Points To The Best Tax System, The Progressive Consumption Tax

or ... Why some experts want the US to adopt a VAT and other tax lessons from around the world

If you wish to read the Pros and Cons ... the positive and negative arguments, have a stab at the WSJ's article ... https://www.wsj.com/articles/should-...tax-1456715703

Andrew Yang's take on it ... https://www.yang2020.com/policies/value-added-tax/

Or The Guardian's piece ... Is it time to switch income tax with a sales tax?