Yellow | How do you REALLY feel about it?

[EX396]

Why not ...whomever wanted all of that stuff lobbied and got their way. They're not the only ones living here

Because you've just made yourself less-marketable and less in-demand, meaning your job is now worth a whole lot less money. Try getting a job driving a truck without any endorsements. Now, imagine having more restrictions than somebody without any endorsements.

 

[EX396]

That’s why I think a straight percentage with no loopholes and no taxes on corporations is the answer. That or a national sales tax and no taxation on income.

So no standard deduction? No deduction for dependents? No difference between married/single rates? No deduction for contributing to your own IRA or 401(k)? Sell your house and owe income tax on all the profit?

A sales tax that is high enough to provide revenue sufficient to replace the income tax means that every retiree that already paid taxes on their income is now being heavily taxed every time they spend some of their nest egg. Imagine what the black market for goods will look like when the sales tax is 30+%..

 

[Songremainsthesame]

So no standard deduction? No deduction for dependents? No difference between married/single rates? No deduction for contributing to your own IRA or 401(k)? Sell your house and owe income tax on all the profit?

A sales tax that is high enough to provide revenue sufficient to replace the income tax means that every retiree that already paid taxes on their income is now being heavily taxed every time they spend some of their nest egg. Imagine what the black market for goods will look like when the sales tax is 30+%..

What I’m looking for is a way to reduce the tax burden on all of us and to simplify the tax code. There is no reason why the US tax code should be over 70,000 pages as it is now.

 

[Puff Driver]

Why not ...whomever wanted all of that stuff lobbied and got their way. They're not the only ones living here

Almost 95% of teamster election $$$ this year is being spent on Open Borders cantidades.
You should start your begin your quest for changes there...
You were a longtime member, I'm sure they care about your issues...

 

[Puff Driver]

So no standard deduction? No deduction for dependents? No difference between married/single rates? No deduction for contributing to your own IRA or 401(k)? Sell your house and owe income tax on all the profit?

A sales tax that is high enough to provide revenue sufficient to replace the income tax means that every retiree that already paid taxes on their income is now being heavily taxed every time they spend some of their nest egg. Imagine what the black market for goods will look like when the sales tax is 30+%..

I spend a lot of time in the UK. They do have a 24% Value Added Tax (sort of a national sales tax) on everything your purchase except a few items; healthcare (isn't that free) investments, rent/mortgage that's it. Th isis 24% tax on everything you purchase is for your 'free healthcare'
As always government cannot stop taxing working people so in addition the UK has an income tax
> $49,000 the income tax is 40% at 100,000 british pounds you lose 1 out of every 2 British Pounds in a personal deduction. Meaning you are paying almost an 60% income tax
>$164,102 the income tax rate is 45% ( most likely what a double income family earns in the UK)
So you get to pay 40, 45 or perhaps 60% tax on your income then after paying that tax you pay and additional 24% on everything you purchase except the items I noted above.
Never, never trust the government to have your best interest in mind.
The effective tax rate is most like near 80% or higher if your family earns more than 100,000 British Pounds.......
Bt the National Healthcare is free...

Income Tax rates and allowances for current and previous tax years

www.gov.uk

 

[EX396]

What I’m looking for is a way to reduce the tax burden on all of us and to simplify the tax code. There is no reason why the US tax code should be over 70,000 pages as it is now.

Agree those two things should be the goal. However, we can't reduce the tax burden on everybody. Some folks are going to have to pay more if some others are paying less. Over 40% of households in USA paid no income tax in 2022. That doesn't mean they didn't owe on their return or they got a refund, I mean they paid ZERO income tax. I'm okay with Social Security benefits not being taxed. I'm okay with VA pensions not being taxed. (No, I'm not getting either).

 

[EX396]

I spend a lot of time in the UK. They do have a 24% Value Added Tax (sort of a national sales tax) on everything your purchase except a few items; healthcare (isn't that free) investments, rent/mortgage that's it. Th isis 24% tax on everything you purchase is for your 'free healthcare'
As always government cannot stop taxing working people so in addition the UK has an income tax
> $49,000 the income tax is 40% at 100,000 british pounds you lose 1 out of every 2 British Pounds in a personal deduction. Meaning you are paying almost an 60% income tax
>$164,102 the income tax rate is 45% ( most likely what a double income family earns in the UK)
So you get to pay 40, 45 or perhaps 60% tax on your income then after paying that tax you pay and additional 24% on everything you purchase except the items I noted above.
Never, never trust the government to have your best interest in mind.
The effective tax rate is most like near 80% or higher if your family earns more than 100,000 British Pounds.......
Bt the National Healthcare is free...

Income Tax rates and allowances for current and previous tax years

www.gov.uk

Yep, absurd. The folks here lobbying for free secondary education, free healthcare, 6 month paid family maternity/paternity leave, government funded retirement, but are okay with taking 50% of everything you earn during your 50 years of employment. That's 25 years' wages...don't folks realize that they could buy all that stuff a couple times over if they invested 25 years' wages themselves?

 

[Razorblade]

I would be in favor of the Fair Tax, provided the government was actually cut in the process. Both sides, democrat and republican claim they are the best ones to run the machine. The problem is the machine itself is broken.

I firmly believe a National Sales Tax would do just that. Imagine the government telling us, "Government spending is now 25% of GDP, therefore the sales tax will be 25%." Voters would be outraged, and spending would have to be cut.

 

[Razorblade]

Agreed. Even folks with the same marginal rates have different effective tax rates now. To arrive at the same effective rate we would have to tax all income, while offering zero credits or deductions. Is that what you're suggesting?

Isn't that the way the FICA tax works?

 

[EX396]

Isn't that the way the FICA tax works?

No. FICA is currently capped at a maximum income of $168,600....and it should be capped at some level since the maximum benefit is also capped.

 

[Razorblade]

Agree those two things should be the goal. However, we can't reduce the tax burden on everybody. Some folks are going to have to pay more if some others are paying less. Over 40% of households in USA paid no income tax in 2022. That doesn't mean they didn't owe on their return or they got a refund, I mean they paid ZERO income tax. I'm okay with Social Security benefits not being taxed. I'm okay with VA pensions not being taxed. (No, I'm not getting either).

That is the problem with the 75,000 page federal tax code and regulations. The sales tax eliminates all the deductions, exemptions and credits. More importantly, it totally eliminates the underground economy. The more you spend, the more you pay.

 

[slavenomore]

Had my pulmonary function test. If I pass I guess I'll be qualified for the next Olympics.
Wasn't too bad but is unnecessary to drive a truck imo.
Guys have to start getting together and fighting all of this nonsense. It'll only get worse if ya don't .

 

[EX396]

That is the problem with the 75,000 page federal tax code and regulations. The sales tax eliminates all the deductions, exemptions and credits. More importantly, it totally eliminates the underground economy. The more you spend, the more you pay.

Got to disagree Razorblade. First, not everything will be subject to the sales tax. Secondly, the underground economy will only grow.

Do you believe ALL the deductions, exemptions and credits should be eliminated? How does that incentivize a corporation to upgrade equipment? Hire veterans? Move to or as importantly stay in your town, county or state?

While I agree a much more simplified tax code is warranted. We shouldn't be imposing a sales tax sufficient to make up for elimination of the income tax, especially when almost 20% the folks spending that money are over the age of 65.

 

[steercrazee]

Doctor at Concentra said there are ten factors to consider before advising a Sleep Test. I had none of them.

I can't prove it but i think my doctor gets kickbacks or something to push stuff

 

[slavenomore]

They do have more comfortable tests at the pulmonary specialist.
But a couple times we had a company doctor which had a straw in a machine and you had to blow really hard to make the ball go high enough to pass.
Looked like these old games.

 

[slavenomore]

This is similar to what they do at the pulmonary specialist now.

 

[nassauotb]

I got my 26th 2 year DOT card last March, as I keep my CDL current. Years back, I had to have my tonsil removed at age 48 and in order for CS to pay for it, you had to take a sleep test. It was found then that I had SA, but due to having my tonsils and all at my age, is what compounds the problem. I had to use that CPAP for 30 days before the surgery per insurance. back then they did not have the DOT certified CPAP. After the surgery all was well and every time I went for the DOT card and the doctor had seen they cut the uvula out of my throat to get the tonsils out, there was no way to check the airway test requirements. He told me they did me a big favor before the DOT made is requirements. I have no trouble at all now that my tonsils were removed back then. I would suggest the surgery for anyone and never deal with that CPAP!

 

[Razorblade]

Got to disagree Razorblade. First, not everything will be subject to the sales tax. Secondly, the underground economy will only grow.

Do you believe ALL the deductions, exemptions and credits should be eliminated? How does that incentivize a corporation to upgrade equipment? Hire veterans? Move to or as importantly stay in your town, county or state?

While I agree a much more simplified tax code is warranted. We shouldn't be imposing a sales tax sufficient to make up for elimination of the income tax, especially when almost 20% the folks spending that money are over the age of 65.

There will be no underground economy because hiding income would be futile if you are taxed on spending only.
Check out the net worth stats. As a whole, those over 65 are wealthier than any other age group.
The income tax is not a VAT tax. Corporations and businesses would not pay it.
Imagine an America with no corporate income taxes. The multinational corporations would run to our country, building plants and hiring employees.

 

[slavenomore]

There will be no underground economy because hiding income would be futile if you are taxed on spending only.
Check out the net worth stats. As a whole, those over 65 are wealthier than any other age group.
The income tax is not a VAT tax. Corporations and businesses would not pay it.
Imagine an America with no corporate income taxes. The multinational corporations would run to our country, building plants and hiring employees.

The tax games will not keep jobs here, nir will they stop the current march to socialism.
Tariffs replacing income tax would stop that.

 

[EX396]

There will be no underground economy because hiding income would be futile if you are taxed on spending only.

I think you are overlooking the obvious; hidden spending. Buying and selling goods without collecting/paying sales tax. It happens now, make that tax 20%+ and it will happen more.

Check out the net worth stats. As a whole, those over 65 are wealthier than any other age group.

So? I'm not interested in taxing wealth, only income. If you want to tax spending, do it on money earned tax free. Those 65 and over paid income taxes on that money and now you want to tax it again on spending (at a much higher rate).