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Flat Taxes on income?

Goodpasture

Well-known member
jcummins said:
HOW, do I avoid that, since I'm paying with AFTER tax dollars that was earned under the OLD income tax setup. With those dollars I would expect to only pay the 6-7% tax.
Tell you the truth, I doubt it will matter all that much. Considering 90%+ of the American people are less than two paydays away from bankruptcy, For the majority of the country, there IS no old money. So I guess, if you know it is coming, live off savings and defer income for as long as you can.
 

Cal

Well-known member
Goodpasture wrote:
All taxes are counter productive. Of course high end taxation is going to hurt the manufacturing of high end goods. But if a item is taxed at 50% will that prevent those who have the money from buying it? I doubt it. So while some manufacturing is hurt, if you figure in the net savings in not paying taxes on income and the additional disposable/discretionary income available, it should be a nearly painless transition. Remember, they are NOT paying 20%+ in income taxes.
I'm thinking that this experiement was already tried with Yachts, and the high taxes did hurt the sales signifigantly. I would geuss that the real jet setters would buy and license some of these items in a different country.
 

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