SoonerAviator
Final Approach
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- Jul 21, 2014
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SoonerAviator
What about a flat 18% sales tax across the board. Eliminate state sales taxes. This way the wealthy are paying their fair share on their high ticket purchases, and the less fortunate are paying less on taxes.. right now we are double and triple dipped on taxes. Fed Income tax, state income tax(if you live somewhere that has it), sales/use tax, and property taxes
Basically what you're alluding to is the FairTax system, which I'm all for. Get rid of the income taxes altogether at federal and state level (since income has varying definitions to different people). You want to pay lower taxes? Consume less. The wealthy buying yachts and Ferraris? They pay a bunch of tax on it. There's a prebate system for those at the bottom of the income levels to offset the sales taxes spent on basic necessities, everyone else just goes on with their lives. The downside is, it might cause a lot of people to stop financing those expensive things like new cars and houses, but I'm sure Capitalism will always prevail.