Whoopty-doo. You don't like paying taxes? Well, nobody does. Most people do like driving on paved roads, having police protection, being able to send their kids to public schools, feeling confident that the food they buy in stores or the meals they eat in restaurants is safe, however ... and those things cost money. As for corporations passing on lower tax costs to consumers in the form of lower prices ... ROTFLMAO.
Originally posted by mgk920
Nothing is more regressive than taxes on the sales of goods and services. They hit the poorest people the hardest and the wealthiest the least because the poor spend all their money while the wealthy spend only a fraction of theirs. But that's the real "charm" of sales taxes versus income taxes, isn't it? Sales taxes sock it to the poor who are always "undeserving" simply because they aren't rich.
As for your wondrous "untaxed" income, it's NOT going to go all that far in covering increased prices. After deductions and exemptions (I'm single, no dependents, modest home mortgage interest), I paid about 13% of my gross income in federal income tax in 2011. Why would I be stupid enough to want to pay 25-30% more for everything I bought/used just so that I didn't have to fill out a few tax forms?
Just so you can see exact how a 25% federal sales tax on goods and services would raise prices ...
$100,000 house ... $125,000Keep in mind, too, that the more items/services that are exempted, the higher the tax rate would have to be to raise the same amount of revenue.
$25,000 car ... $31,250
$ 5,000 cruise ... $6250
$75 concert/football ticket ... $93.75
$50 restaurant bill ... $62.50
$20 groceries ... $25