[Chugalug] Did you hear? The IRS wants your Bitcoins!

William Roush william.roush at roushtech.net
Wed Mar 26 14:22:08 UTC 2014


Consumption based taxes are extremely regressive, you take most of the 
tax burden from the richest in the country and distribute it between the 
lower and middle class.

Due to that that, the last proposal for a tax like this was that we'd 
have a 23% tax-inclusive federal sales tax + our 9% state... on 
_everything_.

These rates weren't enough to be revenue neutral to our current system, 
with some studies citing an additional 10% tax-inclusive rate hike required.

While it's convoluted (though lets be honest, for most it is not), the 
tax code allows me to pay way under marginal with deductions, and _much_ 
less than 23% with an above national average wage (and outside of the 
prebate given by the proposal).

Additionally you can blame Turbo Tax 
(http://www.propublica.org/article/how-the-maker-of-turbotax-fought-free-simple-tax-filing) 
for keeping taxes a nightmare, the IRS pretty much already does your 
taxes -- it's how computers typically tag you for audits, finding 
mismatching information.

I do think we should have a more simple system, I don't think 
consumption taxes are right for the wage and consumption distribution in 
our country.

William Roush
william.roush at roushtech.net
423-463-0592

http://www.roushtech.net/blog/


On 3/26/2014 8:54 AM, Aaron welch wrote:
> I want a consumption based tax and production based incentives to 
> bring industry back to the US.



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