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newdayneeded

(1,939 posts)
Sat Jan 21, 2023, 12:31 PM Jan 2023

Some clarity on the rupubs tax policy.

There is a definite nutjob motivation to get why they are doing this new tax proposal.

For years the poor (anybody that makes under 25k) doesn't pay federal income tax. The right wing absolutely hates that. So they propose this "fair tax policy". With this new policy, every income will have to pay taxes. (until the yacht, Bugatti, gulfstream exemptions start flying).

It is for one reason, and ONE reason only! To get poor people to pay more money.

the quote "to be a republican, you have to believe that anything that ails America, is because poor people have too much money" comes to mind.

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Some clarity on the rupubs tax policy. (Original Post) newdayneeded Jan 2023 OP
Sales taxes are among the most regressive form of taxation... Wounded Bear Jan 2023 #1
Isn't that what Rick Scot was saying Historic NY Jan 2023 #2
Exactly what I was going to post. When someone tells you who they are underpants Jan 2023 #5
Hating on the poor feeds the need to feel better than other people. CrispyQ Jan 2023 #3
TFG's Tax Forms modrepub Jan 2023 #4
Best to know the details Bludogdem Jan 2023 #6
I have no doubt this is newdayneeded Jan 2023 #7

Wounded Bear

(58,440 posts)
1. Sales taxes are among the most regressive form of taxation...
Sat Jan 21, 2023, 12:33 PM
Jan 2023

I know. I live in a blue state with one of the most regressive tax policies going. No income tax, max sales taxes.

CrispyQ

(36,231 posts)
3. Hating on the poor feeds the need to feel better than other people.
Sat Jan 21, 2023, 12:45 PM
Jan 2023

Evidently, feeling superior to others drives a lot of people on the right, especially the extreme right. One of the easiest ways to identify people who are "lesser" than yourself is by monetary standards, especially in a society that worships mammon. The zealots like to say that America lost its way when it turned its back on God, but really, the only god we ever worshiped was the one of profit.

modrepub

(3,469 posts)
4. TFG's Tax Forms
Sat Jan 21, 2023, 01:27 PM
Jan 2023

Prove the uber-rich have years they don't pay any federal taxes. What about that fair share?!?

Ridicule is our only weapon, but only if journalists/columnists start shoving microphones in these people's faces and asking these questions. Or at least work out the numbers and publish them because I'm almost 100% sure this won't work either (spending outpaces collections).

 

Bludogdem

(93 posts)
6. Best to know the details
Sat Jan 21, 2023, 04:01 PM
Jan 2023

Well, this is never going to pass.

Has problems. In particular the loss of the Child Tax Credit.

The details.

The tax applies to an item once. Anything used is not taxed. Only new items So only new houses, new cars. And the tax applies only to the principle, not interest, on a monthly payment.

Everyone gets a prebate. . Whatever your family/household category is, for instance a family of four, your prebate would be 23% of the poverty level for that category. So 23% * $28,000/12 is sent monthly. If the Child Tax Credit were restored and added into the prebate it would be a lot better.

The tax rate is 3 parts. Tax, social security,Medicare. So something like 14,91% + 8.09%. Social security and Medicare are funded from this.

All business expenses are tax free.


The bill should also be amended to require employers to add the current employer payment for social security and Medicare into the employees pay.

Imagine the second hand market.

These are the hi lites. Actually not much by way of a big gotcha.

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