January 21, 20232 yr On 1/19/2023 at 5:53 PM, paco said: I live a minute from the border, so I get the tax free advantages without having to pay DE income tax or actually have to live in DE. Same, no income tax in WA and a 10 minute drive into OR for no sales tax.
January 23, 20232 yr Sounds very Canada to me. Republicans suggest replacing federal income tax with 30% national sales tax
January 23, 20232 yr 1 hour ago, jsdarkstar said: Sounds very Canada to me. Republicans suggest replacing federal income tax with 30% national sales tax It's only very Canada if they cap your income/salary.
January 24, 20232 yr On 1/20/2023 at 9:41 PM, MidMoFo said: A sales tax favors the wealthy, which is why it was proposed by republicans. The higher your income, the less tax you would pay by percentage of income. A household scraping by on $50k a year is spending 100% of their income every year. So they are paying 30% of their income in taxes. A household with $100k in income is probably spending 80% of their income annually or roughly 24% of their income is going to taxes. If a household makes a million a year they have the means to make large purchases overseas for certain items… vehicles, yachts etc and avoid the sales tax all together. They may only spend 40% of their income annually and that would equate to 12% of income to taxes. Obviously (I hope) these numbers are very generic, but… The more you make the lower the % of your income that you would pay in taxes. Then instead of investing money, to show less income at tax time like our current system promotes, wealthy people could just sit on money to avoid taxes and stagnate the economy. This.
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