A high gas tax would be an incentive to conserve gas and oil. THis would help kick our dangerous oil addiction and total dependence on very unstable and nations that hate us. So would you welcome a federal gas tax of $2 a gallon if in turn income taxes were reduced by an equivalent fiscal amount? After all, high income taxes just discourage entreprenership and business incentive.
2007-01-07 06:43:34 · 9 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
It would bankrupt the country because so many people have purchased homes - many interest only as well - with the promise of being able to write that interest off. If we went to a tax on goods instead of income tax, people would be foreclosed on left and right, and noone would be able to pay for goods and services.
And curious' link to fairtax.org is a bunch of crap. It leaves out a LOT of information, including that the rich would keep buying American goods. They would buy boats overseas and just ship the stuff over here themselves, tax-free. Congress has never and WILL NEVER do anything for anyone other than THEMSELVES.
2007-01-07 06:52:37 · answer #1 · answered by It's Me 5 · 0⤊ 0⤋
I'm with "Bud's Girl" on this. It seems like our tax system is set up upside down. For instance, why is it that a CEO making $150 million a year stops paying into social security at $97,300 a year while the poor people who really need every dime of their paychecks will never exceed the social security threshold? So, as another poster mentioned, a high gas tax would certainly slow consumption, but the individuals who would be the hardest hit are the poor. The rich folk in my neighborhood are still buying Hummers and Escalades, regardless of gas prices.
Nice theory of supply and demand, but there's much more to economics than graphs.
2007-01-07 15:49:30 · answer #2 · answered by SuzeY 5 · 0⤊ 0⤋
No, most probably would not. And a tax like this would hit the low-income people harder than the rich - most low income, and many low-middle income people don't pay income taxes under current rules, and would get hit with this.
2007-01-07 15:01:27 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
Well, it's probably not the answer you were looking for, but...I believe that people who gross under a certain set amount shouldn't have to pay taxes at all. Aren't there other countries who do it that way? It sounds completely reasonable to me.
2007-01-07 15:12:20 · answer #4 · answered by Bud's Girl 6 · 0⤊ 0⤋
No, poorer people would rebel because they spend more money on gas than they do income tax. You feel me.
2007-01-07 14:52:15 · answer #5 · answered by Anonymous · 0⤊ 0⤋
screw taxes!
Why doesnt the govt just print our own money so they dont have to use our tax money to pay down interest on bonds from the Federal Reserve to print our money.
2007-01-07 14:53:49 · answer #6 · answered by Anonymous · 0⤊ 1⤋
no way... my family owns a bunch of gas stations in socal. if we tried to conserve gas and oil, my dad wouldn't be able to pay for my education.
2007-01-07 14:45:26 · answer #7 · answered by somebody super cool 3 · 0⤊ 2⤋
keep in mind that those economics degrees you get out of cracker jack boxes really aren't real.
www.fairtax.org
2007-01-07 14:45:10 · answer #8 · answered by curious_One 5 · 0⤊ 0⤋
no,the majority wouldn't
2007-01-07 14:45:58 · answer #9 · answered by Linda C 4 · 0⤊ 0⤋