Bu$h's TAX REFORM on CNN now... F'r lays another TURD, 75% sales tax

[sam sarrha]

to replace the Income tax..corporations pay nothing???!!!

there are rebates and BULL SHIT.. not well thought out..does he think at all..??!!!!!!!!!!! sounds like he is freaked out avout the internet sales.

WE have to get this FOOL IMPEACHED !!!

[ClintonTyree]

1. Do you mean 7.5%.....

75% seems a bit extreme for wage earners, even for Republicans.

[sam sarrha]

4. aparently with the repates it is about..50% they say,, heavy on Middle

class.. that is why there are rebates.. what is uo with this shit..???

[acmavm]

6. If you can't afford it up front, ain't gonna be any rebates. Or sales.

Or economy.

[sam sarrha]

24. that is the point, do destroy the economy declare martial law.. take over

self appointed god

[shraby]

2. Holy mackerel!

At 75%, no one will be buying anything. I think his mind has liquified.

[napi21]

3. 75%!!!! You wouldn't have to worry about impeachment!

Talk about an idea that would unite the entire country! WOW!

I'm visualizing a citizen revolt triple the size of the one against the Vietnam war!!!!

Sorry folks, but all I can do is laugh at this one!

[sam sarrha]

5. they want to destroy the economy so they can declare Fascism..!!

[sam sarrha]

7. how can they keep a straight face talking about this Bu$h Shit..??!!

[Kierkegaard]

15. I'm with you on this one.

If he makes any serious attempt at pulling this stunt, there will be such a backlash that he would gladly welcome impeachment in light of the dire consequences he would face.

[stepnw1f]

8. Ahhh... Corporate Slavery

He just keeps doing the absurd. Can you say, "Hubris"?

[Walt Starr]

9. Man, a 75% sales tax would cause a REVOLT!!!

I see his numbers dropping some more if this crap ends up on the news shows!

[napi21]

11. Oh you'd see much more than #'s dropping!

A suggestion like that directly affects EVERY person in the Country! REVOLT of the citizenry!

I'll stop there with details of what I think would happen.

[warrens]

10. They're getting desperate

Anything to change the conversation. This has no chance of going anywhere. Who exactly said this on CNN? I haven't been able to find anything online.

[Missy M]

12. With bush's 75% sales tax if a person bought a $20,000.00 car....

they would pay a $15,000.00 sales tax. That is the craziest thing I have heard out of that lunatic yet.

[orwell]

13. You misunderstood...

The only thing subject to the new 75% sales tax would be Democratic campaign contributions...

[TheFarseer]

14. Did bush say 75% or was it someone else

trying to say this is the only way it would provide enough money? I doubt even bush is stupid enough to admit his plan is a 75% sales tax. Can you say black market economy? Can you say barter economy? I knew you could. People sure as hell won't be going to stores if they can help it at all!

[newportdadde]

16. This idea floating around is one reason Roth Ira's make me nervous.

I can just see this getting changed and all that post-tax money gets clipped again.

[eglide]

20. Do you have a link?

I looked on the CNN website and couldn't find anything about taxes. I did find something on Faux that said the Advisory Panel on Federal Tax Reform had rejected the idea of a national sales tax.

"The president asked the panel to develop several recommendations to change the nation's tax laws. The panel rejected the idea of replacing the current income tax system with a national sales tax, voicing worries about high tax rates and rampant tax evasion."

http://www.foxnews.com/story/0,2933,172025,00.html

But ya gotta consider the source of that.

A 75% sales tax would certainly bring the economy to a halt.

[Indy Lurker]

17. How about a simple Flat Tax

It would be very progressive.

Say about 33% with a 20,000 deductible for adults and 5,000 for minors.


So for a family of 4 (2 adults 2 minors) and an income of:

$50,000 Tax would be $0
$100,000 Tax would be $16,300
$500,000 Tax would be $150,000

Single and an income of:
$30,000 Tax would be $3,300
$50,000 Tax would be $10,000
$100,000 Tax would be $26,400


And no other deductions.

Probably need to change the numbers to make it work, but it would be simple and easy to understand, When it came time to change taxes, there would only be 3 number to adjust, and no slight of hand.

[ret5hd]

19. a flat tax is, by its very nature and definition, regressive...

besides the fact that as soon as you start talking about deductions, it is no longer a flat tax.

[Indy Lurker]

21. what would you call it then

I though flat meant there was only one rate.

And by having deductibles that would allow for the actual cost of living, you can make it progressive.


Certainly it couldn't be called regressive if you had a $100,000 per person deductible, and a 75% rate.

[nadinbrzezinski]

22. Flat taxes are NOT progresive by definition

[ret5hd]

23. i said they were REgressive, not PROgressive...

unless i'm reading you wrong, i believe you read me wrong...peace.

on edit: i was wrong...you weren't replying to me...sorry.

[Liberal In Texas]

18. They're flying trial balloons, to see how much the public will tolerate...

Heard somewhere since SS "reform" is dead, the next bushco push will be for flat tax or sales tax.

Stay tuned, we'll be hearing more about this.

[sam sarrha]

25. lets send a message now.. lench them all.