[Boris555]

Any of you PO folks know much about this tax idea?

http://www.apttax.com/

Basically it replaces ALL taxes (income, sales, property, etc.) with a tiny tax (0.3% to 0.6%) on each and every financial transaction, from stock trades, to bank withdraw, to deposit, to purchases, etc. This moves the majority tax burden to those who move around the most money (and any money going offshore is also taxed as it goes in or out) but makes everyone pay their share. It seems fairly reasonable.

Considering how almost every sales transaction dings us for 6.0% to 12.0% on sales tax alone, depending on location, a 0.6% tax on depositing, withdrawing and then spending your money would only add up to a 1.8% tax.

Check it out and give me your opinion. (Oh, I KNOW you will give me your opinion...)

[ReverseEngineer]

Any of you PO folks know much about this tax idea?

http://www.apttax.com/

Basically it replaces ALL taxes (income, sales, property, etc.) with a tiny tax (0.3% to 0.6%) on each and every financial transaction, from stock trades, to bank withdraw, to deposit, to purchases, etc. This moves the majority tax burden to those who move around the most money (and any money going offshore is also taxed as it goes in or out) but makes everyone pay their share. It seems fairly reasonable.

Considering how almost every sales transaction dings us for 6.0% to 12.0% on sales tax alone, depending on location, a 0.6% tax on depositing, withdrawing and then spending your money would only add up to a 1.8% tax.

Check it out and give me your opinion. (Oh, I KNOW you will give me your opinion...)

Also known as the Steady Tax Emergency Access Law to enable the Goobermint to S.T.E.A.L. your money more effectively

Reverse Engineer

[americandream]

Any of you PO folks know much about this tax idea?

http://www.apttax.com/

Basically it replaces ALL taxes (income, sales, property, etc.) with a tiny tax (0.3% to 0.6%) on each and every financial transaction, from stock trades, to bank withdraw, to deposit, to purchases, etc. This moves the majority tax burden to those who move around the most money (and any money going offshore is also taxed as it goes in or out) but makes everyone pay their share. It seems fairly reasonable.

Considering how almost every sales transaction dings us for 6.0% to 12.0% on sales tax alone, depending on location, a 0.6% tax on depositing, withdrawing and then spending your money would only add up to a 1.8% tax.

Check it out and give me your opinion. (Oh, I KNOW you will give me your opinion...)

Also known as the Steady Tax Emergency Access Law to enable the Goobermint to S.T.E.A.L. your money more effectively

Reverse Engineer

I'm not so sure I approve of freeing up more income in the hands of my countrymen to spend on shit from China. I would rather we sat on our western governments to deliver the services and industries necessary to preserve our way of life and I'm willing to pay higher taxes for so doing. Consequently, if this tax releases more spending power into the hands of average Joe to spend on more Chinese plastic pumpkins, then my vote is an emphatic No!!

[Don35]

For our more conspiracy minded brothers and sisters it means the gov’ment will be watching, and probably find more ways to watch what we do, how we spend, etc.

[Javaman]

Any of you PO folks know much about this tax idea?

http://www.apttax.com/

Basically it replaces ALL taxes (income, sales, property, etc.) with a tiny tax (0.3% to 0.6%) on each and every financial transaction, from stock trades, to bank withdraw, to deposit, to purchases, etc. This moves the majority tax burden to those who move around the most money (and any money going offshore is also taxed as it goes in or out) but makes everyone pay their share. It seems fairly reasonable.

Considering how almost every sales transaction dings us for 6.0% to 12.0% on sales tax alone, depending on location, a 0.6% tax on depositing, withdrawing and then spending your money would only add up to a 1.8% tax.

Check it out and give me your opinion. (Oh, I KNOW you will give me your opinion...)

We would have to look at how many separate financial transactions are involved in the production of a product to get an idea of how much tax we would really be paying. For example, a pencil is made of wood, graphite, metal, rubber, paint, glue, etc., each of which requires many transactions to make, not to mention the cost of building a factory, supplying it with fuel, water, electricity and paying the employees. If an item is made offshore, how do you tax it fairly compared to the same product made onshore?

[Gerben]

It would just kill the financial sector and then leave the government without any income. 0.3% would wipe out day trading. Then the number of transactions drops. So taxes would have to rise. Resulting in even less transactions. Not sure where it would end, but 0.3-0.6% is way too fantastic. It'll be more like 2%. Adding up with every step in the supply chain. You pay 2% to the storeowner. The storeowner paid another 2% to the wholesaler. The wholesaler paid 2% to the manufacturer. The manufacturer paid 2% to wherever he bought his inputs from.

[vtsnowedin]

There is no such thing as a "Tiny Tax". Even if they start out small they soon balloon to all the taxpayers can stand and then some. The governments business is now around a third of GDP depending on how you measure it. The Obama administration wants to take on health care which is 17 percent of GDP and will soon rise to over 20 percent. So That means that taxes will soon be, by what ever method they choose to raise them, a full fifty percent of every penny we make. Add in the interest on all the bailouts and stimuluses and we are bankrupt. Wait and see.

[InverseBetaDecay]

The governments business is now around a third of GDP depending on how you measure it.

Very true. And most of that money (except the amount that's added to the national debt) must come from taxes on someone. Like I try to explain to my fellow taxpayers in my hometown - it doesn't matter that your house is assessed at a lower value now - the Town spending is still funded by the same number of taxable parcels on the grand list. A "tiny tax" would be some kind of magic free lunch, the numbers won't work.
Also, flat taxes sound good at first, the simplicity is appealing. Unfortunately, quite often people who are proposing a lower and/or flat tax have a regressive taxation agenda. Remember Steve Forbes' idea? A flat tax on the worker bees, and a flat tax of 0% on unearned income. You'd have to be a brainwashed Fox watcher to buy that economic snake oil after what we've seen in the US recently. Supply side my arse. The economy is demand side driven. There is a huge supply of cars in California port storage, but the bankrupt consumer ain't demanding any-

My 2¢, for anyone who cares-

[Ludi]

So That means that taxes will soon be, by what ever method they choose to raise them, a full fifty percent of every penny we make.

Who is "we"? The top few percent? I'm not too worried about them. They can pay 70-90% like they used to, and still be fine.

I seriously doubt I will ever be paying anything close to 50%.

[vtsnowedin]

So That means that taxes will soon be, by what ever method they choose to raise them, a full fifty percent of every penny we make.

Who is "we"? The top few percent? I'm not too worried about them. They can pay 70-90% like they used to, and still be fine.

I seriously doubt I will ever be paying anything close to 50%.

The "WE is you and I and everybody you and I know and WE are already paying close to 50%. Every dollar of corporate taxes is passed directly to the consumer (WE) hidden in the price we pay and every dollar the super rich pay will be raised by sticking it to the little guy (WE) again. And after that you have your all time favorites. Income tax at say 20% plus SS tax at 6.6% plus your empoyers share of SS 6.6% and the medicare taxes and the state income tax if you have one plus the sales tax plus the gas tax plus the sin taxes plus the room and meals taxes and you real estate taxes and your registration fees and the phone tax and the death tax.
If your not paying close to 50% in taxes your not living.