Why cut taxes?

[Bo Diddley]

If you eliminate sales tax on food, clothing, and medicine, then no I don't think it is regressive. I believe Utah already has no tax on medicine and clothing. If we could replace all income tax with a VAT or sales tax (with appropriate carveouts necessity items to protect the low income) I would be all for it. Taxing consumption vs. income seems like fundamentally a better practical basis for a tax code.

On the property tax side, wouldn't that be passed on to the rent?

[Jeff Lebowski]

https://www.deseret.com/2024/1/8/240...0and%20Wyoming.

Thanks.

I think this is a good idea.

[Bo Diddley]

Thanks.

I think this is a good idea.

As long as the implementation isn't regressive, I would be ok with it.

And I echo Omaha's sentiment that consumption tax is a better model.

[beefytee]

What do you consider the upside of a vat tax?

I don't necessarily see it.

The big downside is obviously that it would discourage spending. I would also think it would cause a wider variation of government income because while incomes do go up and down with the economy, I would think that spending varies even more with an up and down economy. Just a guess though.

I guess on the flip side, people would likely save more money (at least those who can afford to), but like I said this hurts the economy when people don't spend.

What makes it a better model for you?

[Bo Diddley]

What do you consider the upside of a vat tax?

I don't necessarily see it.

The big downside is obviously that it would discourage spending. I would also think it would cause a wider variation of government income because while incomes do go up and down with the economy, I would think that spending varies even more with an up and down economy. Just a guess though.

I guess on the flip side, people would likely save more money (at least those who can afford to), but like I said this hurts the economy when people don't spend.

What makes it a better model for you?

This will apply more to Federal taxes, but we have a really confounded tax code. And we have a ton of people who cheat the system. No more shell games. Pay your fair share as you go.

[myboynoah]

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