A sales tax as they are currently applied place the bulk of the burden on the lower classes. progressive income taxes and progressive wealth taxes are far more equitable and fair.

@glennlab Yes I know you think that, BUT I think an argument could be made the rich and poor should also pay in, not just the middle class. I know a lot of people consider that regressive, I already said that. but I disagree... it's only fair.
It's too easy to cheat the way it is and most of the rich pay nothing. This would eliminate all of that.

@glennlab Yeah 15% sounds about right.
Oh who know, I'm no expert.

Our taxes are some of the lowest in the deveoped world, most of those threats can be countered with tax penalties for those actions like most of the world has.

@glennlab ours seem to be similar to income tax, with the top bracket incurring 45%. The amounts below that start with a non taxable portion and then it goes up in increments.
It makes me cringe when the shareholders get great returns from some industries, while the workers are struggling to pay their bills. But that’s life I suppose. It’s nice to be able to choose ethical.

@girlwithsmiles Maggie and Ronnie screwed their voters and we are still paying the price.

@glennlab leaders are never working alone, they always represent wider audiences. There was a lot going on during their leaderships, definitely, but Maggie was in for over a decade, as I remember, so she’s hardly the only one to look at when looking fr answers about the era.
People got very money hungry in the ‘80s. Then there were those in dying industries that were actually hungry interesting times for sure.

We already have a flat tax(social security) and the first things the wealthy did was exempt themselves from it. A tax on consumption has always been unfair to those at the lower end of the spectrum.

While the debate has been going on for centuries, it has indeed gonme somewhere, over the last 40 years wealth has flowed from the bottom to the top at the expense of all thoise at the bottom and middle.

Lower taxes have never increased savings or investments, look at history and point at one time it has.

@glennlab

I will look but I am laying out what is argued in favor of a flat tax.

I was talking about a national GST in place of the national income tax. It is argued that it will instill better behaviors such as savings, cut unnecessary spending and will not allow the rich to get obscenely richer with tax loopholes. I believe the rich spend more and will pay more tax into the Treasury from which there is no escape.

@St-Sinner A GST will only be fair if you tax ALL financial transactions: stocks, bonds, property, (reale and personal), collectables (art, coins, etc), and exempt only food and medical. I think as soon as you propose taxing stock and mutal fund purchases you will find it DOA since that is where the wealthy spend their money, when you propose a tax on the purchase of all property, you will find that DOA as that is where the merely rich park their money.

@glennlab

I see, I need to read more. Thanks for your information. It is helpful.

@glennlab Sales taxes effect consumers and the rich keep a disproportionate amount of their wealth stashed away so it isn't used for consumption but the lower classes spend a disproportionate amount of their income so they get hit harder by a sales tax.
When you look back on history, the big upheavals always seem to occur when too great a percentage of the total wealth in society is held by too small a percentage of that society. When the strain gets too great then there is insurrection and a lot of heads wind up on pikes until the wealth gets redistributed and then the cycle repeats itself.

@Surfpirate That was the reason I pointed out that all transactions would have to be taxed to be even somewhat fair. Right now the rich rail against even a .05% stock transaction tax, can you imagine their outrage at 6% per tranation, day trading would become a thing of the past, . GST and VAT as they are currently applied are definitely more of an burden on the less wealthy. Most people pay a wealth tax currently (property tax) but the wealthy do not p[ay a tax on their portfolios of stock and art.

@glennlab Agreed and it isn't just taxation but the money given to big corporate sponsors dwarfs the $600 relief check that regular folks get and only grudgingly by the politicians.