Really rich people are suddenly paying quite a bit more in taxes

Re:Really rich people are suddenly paying quite a bit more i... by gnaritas on Wednesday December 30, 2015 @11:44PM (#10816182)

It's a terrible idea, a sales tax taxes spending instead of earning which automatically is a huge tax cut to the wealthy who by definition spend a far smaller percentage of their income than the middle classes who basically spend it all. Taxes belong on income, not on spending; sales taxes are incredibly regressive.

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Re:Really rich people are suddenly paying quite a bit more i... by paulddraper on Thursday December 31, 2015 @03:39PM (#10819564)

My bad. At the time of posting I thought that FairTax was fairly well known.

https://en.wikipedia.org/wiki/FairTax#Monthly_tax_rebate

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Re:Really rich people are suddenly paying quite a bit more i... by gnaritas on Friday January 01, 2016 @04:58PM (#10823675)

And as with all things government, it's the opposite of what it's named. The fair tax is anything but fair. If you only tax spending, then the rich, who spend far less than their income, can effectively avoid taxation of most of their earnings by simply living below their means, which they do anyway because that's what being rich is. If I make a million a year but consume like someone making 100k a year, I only pay taxes on 1/10 of my income; hardly fair since the guy actually making 100k is paying taxes on 100% of his income.

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