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I try to look at this in a positive light.
If more income is taxable, then revenues will increase and perhaps either tax rates will fall or the new found tax revenues can be put to good use -- like national debt reduction, balanced budgets, infrastructure improvements.
Perhaps, 20% of the economy is cash-under-the table.
Barter will still exist ... Money should only be taxable once -- specifically corporate and personal income taxes and resales of items already taxed like used autos and the like.
Taxed income that is taxed again by national VAT is wrong.
In the USA the States have to make a choice: a general sales tax or an income tax -- you cannot have both.
I guess fairness in taxation is my point. -
Let's just go back to the old days, bring a chicken to your dentist for his services
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Crypto Currency is the future friends. Get used to it.
It may end up being a government controlled digital currency where the governments of the world can analysis every transaction you make or you can choose a digital currency not backed by any government that is anonymous.
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I live in California and we're fucked with taxes. I'm fiscally conservative and unfortunately Trump wants to go into massive debt and has a long history of financial corruption, multiple bankruptcies and hundreds of lawsuits for not paying his debts.
After Romney and Kasiech were eliminated I said here the above reasons were why I was switching sides this cycle.
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Just think what a wonderful place it would be if no one had to pay any taxes
Enjoy cave living much?
If the only tax you paid was 30% or 40% on what you spent every year excluding food, medicine and primary residence where would you stand? A 3% transfer tax on investment property (real and personal). Distributed 20/20/60 -- locals/state/feds. Maybe it would work out at a 20% or 25% rate -- IDK
Years ago we used to say: You are either part of the solution or part of the problem.
I guess we would have mass unemployment of tax accountants and tax collectors
They could dig ditches or something.
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We pay taxes on water, food, electricity, air, gas, phone, AND we pay taxes to state AND IRS every year.Just think what a wonderful place it would be if no one had to pay any taxes
Enjoy cave living much?
If the only tax you paid was 30% or 40% on what you spent every year excluding food, medicine and primary residence where would you stand? A 3% transfer tax on investment property (real and personal). Distributed 20/20/60 -- locals/state/feds. Maybe it would work out at a 20% or 25% rate -- IDK
Years ago we used to say: You are either part of the solution or part of the problem.
I guess we would have mass unemployment of tax accountants and tax collectors They could dig ditches or something.
11 countries have no income tax, we can adapt and do the same. Taxing everything makes citizens angry and feel like the system is holding us down, death by a thousand cuts.
I'd rather have mandatory service to country than taxes. Something where you volunteer a certain job once a month.
If you make hospitals, banks and schools government institutions, what's that called?
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Please point out where I said anything about no taxes. Go ahead. Try it.Just think what a wonderful place it would be if no one had to pay any taxes
Enjoy cave living much?
If the only tax you paid was 30% or 40% on what you spent every year excluding food, medicine and primary residence where would you stand? A 3% transfer tax on investment property (real and personal). Distributed 20/20/60 -- locals/state/feds. Maybe it would work out at a 20% or 25% rate -- IDK
Years ago we used to say: You are either part of the solution or part of the problem.
I guess we would have mass unemployment of tax accountants and tax collectors They could dig ditches or something.
Give a kid a box of cookies and he drops the cookies because he is careless, I'm not giving that kid another box of cookies. He's going to have to fight and beg for it.
Taxes have existed for thousands of years. Never have they been fair. Believing they can ever be fair is a delusional pipe dream. It is a war. One side wants more taxes (this is politicians of any party,) the other side wants fewer taxes (this is everyone that does not personally profit from higher taxes, that includes me and most likely you.) Anyone in government pushing lower taxes is lying, anyone not in government pushing higher taxes doesn't realize what side they are on.
Checks and balances. There is no such thing as peace. This is what keeps humans going.Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted
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Don't try baffling me with bullshit.
20% of tax revenue is probably consumed in the cost of overhead to compute, feed the tax collectors, audit returns and disburse the money. We pay 75% of our internal costs of tax accounting staff costs and the costs of outside CPA firms to certify our tax returns. NL corporate tax rate is 25%. For a business our size this is a 6 figure amount annually.
Tax accounting in the USA is a lot more complex. It has become a fucking industry onto itself.
And you missed my entire point: As we move to a cashless society more income will be found -- we need to make a fair tax rate or this new "taxed wealth" will be pissed away by necessary or frivolous tax money spending by governments.
By "fair" I mean a gross tax neutral policy and not a windfall slush fund ...Comment
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too much fraud & laundering here in Spain from UK & Russia
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I do like to see things from a positive perspective too but tax revenues are not put into good use. If they were this would be a great idea and tax rates could be lowered to reflect the extra money into the system.
Instead it goes to shit ideas made up of liberal and left dominated societies.
For the sake of being fair a right lead government would also put bad use to extra money but for other reasons.Deposit Today With BTC - Play With BitcoinsComment
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On What? Buying armaments and building ridiculous walls?
Righty brain dead ideas ... Gimmie a break ...Comment
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Corruption and black market will not stopComment
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companies and very rich people will find a way, the carpenter that does wome work in his spare time for a holiday will get caught.
everything is fake
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you just gave some examples of why sending more tax to the government would make things worse not better. They over spend and overshoot on ideals consistently, you think that magically stops if they get some more revenue coming in? no, they will just spend more and debts will remain or even grow.
canada is a perfect example of this. We are well over taxed as a nation and inflation is starting to consume us. You think the middle class is hit hard there? try living here for a while paying a solid 13% on just about everything purchased on top of a 45-50% income tax. Avg salaries around here are just under 50k a year but our cost of living is almost double what it is in the US over the last 10 years or so. We keep raising our taxes and raising minimum wages while the middle class gets neutered financially taking up the slack.
The problem is what they do with the taxes, not that they aren't getting enough of it.webmaster at pimproll dot comComment
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Canada's corporate tax rate is 15% Federal
With the Ontario Provincial rate 25%.
https://home.kpmg.com/content/dam/kp...6-and-2017.pdf
Read the bottom line. Incorporate. You should be in a position to do that.
Move to Syria -- I hear no one is paying taxes there anymore
Canada is more expensive for a lot of things -- not my fault.
Take 8% off your personal rate -- that is what healthcare costs are in the USA (at least). Like I said: Income Tax or a GST -- not both.
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I guess that Carpenter will have to raise his price but I am paying more taxes for his working under the table and not paying taxes -- in the USA he might get Medicaid, an Obamaphone and EBT-Food Stamp money declaring little or no income. Who do you think pays for that -- the tooth fairy?
Is that fair to me?Comment
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not the point at all. the point is no matter how much more taxes are collected, they will only want more and spend more. if you think those people getting paid under the table paying taxes on it is going to reduce your tax burden i'd say you are naive and put too much trust in the government to do the right thing. they exist largely to serve their best interest, not yours.Canada's corporate tax rate is 15% Federal
With the Ontario Provincial rate 25%.
https://home.kpmg.com/content/dam/kp...6-and-2017.pdf
Read the bottom line. Incorporate. You should be in a position to do that.
Move to Syria -- I hear no one is paying taxes there anymore
Canada is more expensive for a lot of things -- not my fault.
Take 8% off your personal rate -- that is what healthcare costs are in the USA (at least). Like I said: Income Tax or a GST -- not both.
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I guess that Carpenter will have to raise his price but I am paying more taxes for his working under the table and not paying taxes -- in the USA he might get Medicaid, an Obamaphone and EBT-Food Stamp money declaring little or no income. Who do you think pays for that -- the tooth fairy?
Is that fair to me?you don't know you're wearing a leash if you sit by the peg all day..Comment
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That may be true -- I think that living in Canada you have some experience with this.
However, if Trump and the Republican majority Congress is serious about lowering taxes without ballooning the budget deficit and causing bad economic times, or even a depression -- they better start doing exactly what I am saying. A lot of earnings by corporations end up "under the table" just like Bob the itinerant carpenter's wages.
But you are probably right -- that is why I believe deleveraging before the coming hard times is a very good idea. If I am wrong you will still have your money to invest. If I am right you will buy assets cheaply.Comment
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how is a lot of earnings by corporations "under the table"? it seems it's 1000x easier for some carpenter to do some quick $100 gig "under the table", than for Boeing to sell $100M aircraft "under the table"...
the corporate earnings might not be taxed because of various accounting tricks, but I wouldn't call it "under the table"...Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000
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Right woj -- corporations can escape taxation by legal means. That carpenter is a more honest cheat.Comment
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