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Off Topic Discussion
Vice President Dick Cheney accidentally shot............................
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<blockquote data-quote="Michael Cacioppo" data-source="post: 589449" data-attributes="member: 57235"><p>RShrek, it boils down to what I call the velocity of money. What I mean by that is that every time money legitimately changes hands, the government gets a piece of the action via taxes. The more exchanges, the more revenue for the government. An analogy would be a gambling casino. The house only makes a few percent on the action, but it's profits are huge. That is because of the amount of action/transactions taking place very rapidly. By increasing taxes or the cost of doing business, the velocity slows down as does the governments take.</p><p></p><p></p><p></p><p>Right now the tax structure of the Federal income tax rewards those that take from the GDP pot and punishes those that create it. What I mean by this we punish, via income tax, those that make income by producing goods and services. We do not penalize those that use the goods and services via purchases. The underground economy does not pay any income tax on their clandestine income. </p><p></p><p></p><p></p><p>A flat tax would make these people also contribute to the tax pot. There would have to be an in depth study as how to handle purchases that are made offshore, etc. But a taxes on offshore purchases would have to be dealt with.</p></blockquote><p></p>
[QUOTE="Michael Cacioppo, post: 589449, member: 57235"] RShrek, it boils down to what I call the velocity of money. What I mean by that is that every time money legitimately changes hands, the government gets a piece of the action via taxes. The more exchanges, the more revenue for the government. An analogy would be a gambling casino. The house only makes a few percent on the action, but it's profits are huge. That is because of the amount of action/transactions taking place very rapidly. By increasing taxes or the cost of doing business, the velocity slows down as does the governments take. Right now the tax structure of the Federal income tax rewards those that take from the GDP pot and punishes those that create it. What I mean by this we punish, via income tax, those that make income by producing goods and services. We do not penalize those that use the goods and services via purchases. The underground economy does not pay any income tax on their clandestine income. A flat tax would make these people also contribute to the tax pot. There would have to be an in depth study as how to handle purchases that are made offshore, etc. But a taxes on offshore purchases would have to be dealt with. [/QUOTE]
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Off Topic Discussion
Vice President Dick Cheney accidentally shot............................
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