What do you listen to at work?

[fly]

Is there a template for the perfect tax structure? Reform it all you want, just make it efficient.

Some sort of flat tax, income or sales, seems to be the most efficient to me...

 

[Syrup Beaver]

I am unfamiliar with how the national government was funded then. Explain?

Well first of all it was a hell of a lot smaller then, without all the useless agencies and such.

 

[Pandora]

Is there a template for the perfect tax structure? Reform it all you want, just make it efficient.

I'd say the Fair Tax is pretty perfect. But of course as long as politicians are involved in it's implementation it will become corrupted.

 

[fly]

I'd say the Fair Tax is pretty perfect. But of course as long as politicians are involved in it's implementation it will become corrupted.

Have you read the book or are you familiar with it? Is just a tax on consumer products, or does it also get imposed on manufacturing/business to business transactions too?

 

[Pandora]

Not currently, no

But after a societal collapse it might

Possibly, but I don't think that will ever happen.....unless maybe, maaaybe DC gets wiped off the face of the earth.

 

[theacoustician]

Have you read the book or are you familiar with it? Is just a tax on consumer products, or does it also get imposed on manufacturing/business to business transactions too?

There's an FAQ on the website that explains it all. www.fairtax.org

Basically all consumed goods and services are taxed. Businesses are not. All people receive a monthly reimbursment for poverty level expenses.

 

[Pandora]

Have you read the book or are you familiar with it? Is just a tax on consumer products, or does it also get imposed on manufacturing/business to business transactions too?

Excerpt from fairtax.org:

"The FairTax is a single-rate, federal retail sales tax collected only once, at the final point of purchase of new goods and services for personal consumption. Used items are not taxed. Business-to-business purchases for the production of goods and services are not taxed. A rebate makes the effective rate progressive."

 

[Syrup Beaver]

I am unfamiliar with how the national government was funded then. Explain?

http://www.wealth4freedom.com/truth/B4theincometax.htm

Good history of taxation in our country there - I guess I meant no REAL 'direct' taxes

 

[fly]

There's an FAQ on the website that explains it all. www.fairtax.org

Basically all consumed goods and services are taxed. Businesses are not. All people receive a monthly reimbursment for poverty level expenses.

Hmmm

It still seems to be a system that people with enough money can get around, but its definently a step in the right direction...

 

[theacoustician]

Hmmm

It still seems to be a system that people with enough money can get around, but its definently a step in the right direction...

The only way you could get around it is either :
1. Spending all your money on goods in other countries, where you'll still be taxed by that government but at a lower rate. With shipping, I don't see this as useful for rich people on all but the most expensive items.
2. They lie about what's end consumption and what's "business reinvestment". This is where I think you'll have the most problems, but where a lot of the newly bored IRS workers would be redirecting their efforts towards.

 

[fly]

The only way you could get around it is either :
1. Spending all your money on goods in other countries, where you'll still be taxed by that government but at a lower rate. With shipping, I don't see this as useful for rich people on all but the most expensive items.
2. They lie about what's end consumption and what's "business reinvestment". This is where I think you'll have the most problems, but where a lot of the newly bored IRS workers would be redirecting their efforts towards.

I can think of an easy way to get around it. Setup a 'business' and buy items in bulk 'to sell to consumers'. I think that might be what you were going at with #2. Either way, there will be ways around it....

 

[b_sinning]

Lately I've been listening to some A-Hole with a power saw rebuilding the building next door.

 

[theacoustician]

I can think of an easy way to get around it. Setup a 'business' and buy items in bulk 'to sell to consumers'. I think that might be what you were going at with #2. Either way, there will be ways around it....

Won't work. You have to be investing capital into something. If you're financing a construction project or buying land, you can get around it. If you stock that business with stuff (furniture, computers, etc) all that stuff will be taxed. So unless you want to build a house on property thats zoned commercial (ha), you're gonna have to be way more creative to get around the tax.