There's no end to the crazy tax ideas I come up with. What do you think about this one? It requires a computer. Everybody has a tax rate, the rich have a high rate and the poor have a low rate, but the only tax is paid as a consumption tax at the retail level. You'd have to swipe your tax card for every purchase. There would be a great incentive for the black market but I'm not too worried about that. Not really advocating this, just interested in where I have gone wrong.
You're right about the black market, which is by the way the fastest growing economy in the world 'System D'. Also it could act as a disincentive to consume. Is that what you want? Here are my ideas on tax, if you are interested? http://morganisteconomics.blogspot.co.uk/2012/06/rolling-taxation-system.html
you know I like you Morgan and share your your concern for the poor, but no, I can't go along with you on that one. What bothers me is this obsession with taxes and concern for the poor only seems to surface when GDP is slow. It makes me think we are blaming slow growth on somebody rather than encouraging the growth which solves the tax problem and the poverty problem. Not to mention the fact that I think the government should be pro growth, but I am personally anti growth, so it makes for an interesting mind if you like things befuddled.
Forgot the tax card, too easy to cheat - here's what is required: retina scan at the point of sale, gov't has everyone in the database so the correct tax rate is applied. You can opt out if you want (being in the database or providing the retina scan to purchase something) - in which case you pay the maximum sales tax rate. No, I'm not serious.
I've said this before but: 1 - NJ, where I live, has already shown how you can have a progressive consumption tax: the sales tax here excludes food, clothing and medicine: the stuff you need to live, in other words, and the stuff the poor spend most of their money on. Simple, efficient. 2 - Huh? Can you explain "the government should be pro growth, but I am personally anti growth, so it makes for an interesting mind if you like things befuddled."? Just so's that I have it for future reference, if you don't mind...
"Not really advocating this, just interested in where I have gone wrong. " the usual with you is too much poor quality weed.
yeah, it always seems to come back to the income tax is the fairest tax. But on a slow night I never cease to be amused by new ways of doing things. I really hate filling out those forms. People talk about the government on your back. For the most part I live completely government free until April 15th when they are all over my back.
That was different to the post I linked. Have a look at that. Anyway that was in relation to freeing up funds to pay back the existing debt, which is in the benefit of the wealthy too.