Would it be better for the US if the income tax was 88% and sales taxes 60% property tax 95%?

Question

Wouldn't the US governemnt then have more money therefore making the US GDP 50 Trillion per year?

Answer 1

If that was possible, then yes the U.S. would make a lot of money, but the people will suffer greatly because taxes are eating away their income. With high tax rates, all of the income that people make will cause them to want to spend less and try to save as much as possible. In addition, people will probably not want to purchase property. What's the point of purchasing property when you're not making any gains from it? In the end, the US will lose alot of money at tax rates that high because the economy will probably drop significantly as a result.

Answer 2

AH HAHA you are effin crazy ..
NO.. it wouldt b better, it would b worst for everyone. Imagine, you will have to pay more income taxes, which means that over all u will b making less income bc most will go to income tax. Then, when u buy something u have to pay more sales tax, which means the producer has to pay more sales tax in return prices of everything will increase, and producers will want to produce more to be able to meet their quotas, which means exploiting workers who will not b getting payed much in the first place bc of high income taxes. Then property tax increased, omg........... property owners already pay way tooooo much! , everyone's dream is to own a house or a business of their own, and with this that will just get ruin, and the american dream will b destroyed.

what i think is the government should just organize better how they spend all the tax money right now, and allocate their resourses more efficiently so that nothing like this has to happen ..

Answer 3

Wow. i assume i'm 7 years previous using answering this question. in spite of the shown fact that, I nevertheless choose to. besides, the government a hundred% could improve the gasoline tax. The gasoline tax has been the comparable considering that 1993 (whilst it grew to become into final raised) because of the fact it incredibly is at a series volume. using inflation, the tax has misplaced particularly some its value. it is under no circumstances properly well worth the comparable volume that it grew to become into 22 years in the past. hence, human beings have rather been paying much less for the tax (value sensible) considering that 1993. because of the fact the cost has decreased, the line Fund did run out of money. it incredibly is a warfare for infrastructure to be geared up and maintained whilst there is not any funds to do it. additionally, it incredibly is greater on your cost variety interior the long-term for human beings if the gasoline tax is raised than no count if it is not any longer. it is by using the fact with a much better tax, issues like roads could have the ability to be fastened. If infrastructure is wisely fastened/maintained, human beings won't have as plenty injury to their automobiles. the annual value of the damages they have now, surpasses the annual value the traditional American will spend throughout the time of the gasoline tax. additionally, the gasoline tax is in simple terms a consumer value. in case you force on a street, you are able to reason injury. That injury would properly be fastened throughout the time of the tax. you're in simple terms paying to maintain the line.

Answer 4

yea i belive u but how would i know im still a kid i already have to see people suffer over the high gas prices now they r going to make the income taxes higher? i dont want to see my kids live like that my whole life

Answer 5

Although the government would have more money, the citizens would be paying more. It all depends on how willing you are to give up parts of your income for the state.

Answer 6

Only if you think the rest of the economy grinding to a halt and a vast black market of untaxed goods and services would be a good thing.

Answer 7

No. Prices would have to rise about 1000% to compensate. The net improvement would be zero.

Answer 8

I hope you're not running for any political office in the U.S.