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HeloDude

Taxes, the Deficit/Debt, and the Fiscal Cliff

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5 minutes ago, Lord Ratner said:
On 1/27/2019 at 9:57 AM, matmacwc said:
VAT is another one of those taxes that are ridiculous and we need to leave it to Europe, most things we take for granted are so overpriced over there, in part, due to this.  I’ll fight VAT tooth and nail.  How bout we spend less.
Gevernment oversight of every step of manufacturing, what could go wrong?

I'd much rather spend 20% on sales tax than 40%+ on income taxes. And I much prefer a system where everyone contributes. Hard to care about a tax that doesn't affect you, and nearly half of Americans (voters) aren't affected by income tax.

I get it, but if you think our government is going to get rid of regular taxes and replace it with VAT your are sorely mistaken, the libs don’t think it’s your money to start with, why do you think anyone would benefit?  The government surely will.

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I get it, but if you think our government is going to get rid of regular taxes and replace it with VAT your are sorely mistaken, the libs don’t think it’s your money to start with, why do you think anyone would benefit?  The government surely will.
We agree there. I actually think the only way to fix it is the long game. Make things worse, compromise heavily to get what you want so it can take root and become "normal," then hope you can undo the bad during the next wave.

Oh, and you have to hope the conservatives don't completely waste two years of near-total control. Again.

I'm not optimistic.

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Whatever tax structure is used such flat tax, progressive tax, or VAT combined with ever rate the idiots in Congress decide upon with up to and including a 70% rate recently mentioned,  that tax method and rate is completely irrelevant if the idiots in Congress keep spending more money that the country takes in.

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I'd much rather spend 20% on sales tax than 40%+ on income taxes. And I much prefer a system where everyone contributes. Hard to care about a tax that doesn't affect you, and nearly half of Americans (voters) aren't affected by income tax.
Many European countries have the 20%ish VAT, but on top of the 40%+ income tax - worst of both worlds.

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Public Service Announcement:

If you use the militaryonesource HR Block software and want to pay taxes owed by credit card, don't pay at the link they give you.  Their link goes to Pay1040.com with a CC fee of 2.49%.  Instead go to Pay1040.com in a separate browser, enter the exact same information, and the fee is only 1.87%.  USAA Cash Back card pays 2.5%, so ya got that going for you, which is nice.  

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