Registered: Nov 1999
08-13-12 03:21 AM
Quote from bigarrow:
All taxes will be based on assets, income will be counted as assets also, no exceptions, everybody pays the same percentage based on assets. No tiered system, no long tax code, elimination of inheritance tax, capital gains tax, dividend tax, home owners deduction, all deductions will be eliminated. With assets in the USA apx. 200 trillion an asset tax would be apx. 1.3%. This would be a boom to small business and middle class, upper middle class and the small time wealthy.
you will have the government seizing assets from anyone who is unemployed or disabled or elderly with no means of income. do you really want to give anyone that kind of power? its immoral.
the fairest tax is the income tax. no one ever has to come up with money they dont have to save their house or other assets. you have a good income year you share that in the form of an income tax. you have a bad year or two with no income you owe no tax and the assets you spent your whole life accumulating are safe.
i am all for eliminating most deductions to make it more fair. i also think all income should be taxed the same.