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TripleAlphaProcess
Not sure if that would be a sustainable model. Eventually a municipality would run out of new homes (or enough new homes) and if that's the case who keeps up the city or schools? I suppose all schools could become private and then you pay for each kid that goes there but I bet that would cost a lot. Private school in MN costs between $30k-$40k/year.

I can see a flat consumption tax working for most everything though.

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JDpowershift

Not sure if that would be a sustainable model. Eventually a municipality would run out of new homes (or enough new homes) and if that's the case who keeps up the city or schools? I suppose all schools could become private and then you pay for each kid that goes there but I bet that would cost a lot. Private school in MN costs between $30k-$40k/year.

I can see a flat consumption tax working for most everything though.

My wife and I's answer to high priced schooling is home schooling........we did so with both our boys, still doing it with the youngest.
I can see that option not being an option for most.

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TripleAlphaProcess


Not sure if that would be a sustainable model. Eventually a municipality would run out of new homes (or enough new homes) and if that's the case who keeps up the city or schools? I suppose all schools could become private and then you pay for each kid that goes there but I bet that would cost a lot. Private school in MN costs between $30k-$40k/year.

I can see a flat consumption tax working for most everything though.

My wife and I's answer to high priced schooling is home schooling........we did so with both our boys, still doing it with the youngest.
I can see that option not being an option for most.

Agree on both points. If I remember correctly, just over 63% of households have both parents working.

The other thing I was thinking about in regards to the mortgage is, I'm guessing most banks would limit how much of the 30% tax you could put into a mortgage, just like they limit the amount of closing costs you can add in. If you want to avoid PMI you have to put 20% down and now add 30% to that and you're talking a 50% downpayment. Not even half of the people can afford 20% (44% of home buyers) let alone 50%. The simple answer there could be don't buy a new home since the taxes only apply to "new" construction but then you have a whole new problem. How many construction workers are now out of a job because the number of new homes being built crashes?

Maybe keep the flat tax on most everything except homes? Keep property taxes there to constantly maintain the community (schools, roads, public parks...etc)? The consumption tax maintains everything else and most "free" amenities today are now subject to purchase and corresponding tax? This is basically how Florida operates. Property taxes are high, no state income tax, and a modest sales tax of 6% (with a few exceptions).

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TripleAlphaProcess
Don't you get to deduct property taxes off your farm income? I have a motorsports business LLC and I get to deduct my property tax.

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Just another day under the sun
Sorry if my response ticks off any but I am going to state some facts leave ss and Medicare alone the government since the 1950s have used the funds that every one has paid in to float wars, fund the government spending when Congress can’t get it together. I hear so many who want to get rid of irs , they must have issues with the irs . The problem with our current situation is that our previous President and even current one have literally handed out trillions to businesses that in many cases don’t need it. I get calls daily in regards to the latest program that each business can get up to $26,000 for every employee that your company could provide records that they were on your payroll any time between 2020 and 2022. This credit can be applied for up to 100 employees! Do that math, how many of these same companies already got mega millions under Ppp loans that were forgotten by Congress and signed off by 45.

We can all bitch about this but the facts are still the facts Congress catering to the wealthy lobbyists who don’t give a damn about 95 percent of Americans! Why is this because the top 5% of the nation control nearly 65% of the nations wealth. So the wealthy certainly are not going to want a flat tax as they already have the life. I read some comments on here of just having a flat tax of 30%.

It sounds good but if you are a billionaire businessman are u going to absorb all the taxes for your profit ? I will say heck know they will pass it on as higher prices to the end consumer.

That is how they became billionaire businessman to start with by passing on the costs, that is same to be said with the thought of charging higher tariffs on goods from China and other places. Okay perfect people still need or want it so guess what the customer pays for it not Chinese as so many people think.

The real problem in this nation is that we don’t teach the basics in our high schools in regards to how Financial system works along with how governments work both in our nation and in the world. We have screwed over our generations by getting rid of many things in education because it might offend some one because of some religious , political ,social ,personal views.

This is why in my opinion this nation is more divided than it was back in the 1960’s

It is very sad that when you look at our current leadership in Congress and how they conduct business that any other people from another nation can think of as beacon of light of freedom.

This nation has literally went backwards in so many ways over the last two decades it is sad.

My biggest concern is for my children and future grandchildren as they are the ones who are going to be paying all the debts that have been created by our generation over the last few decades.

If our current leadership does not start to listen to what our military advisers and other who have provided rather reliable information over the last 50 years soon our nation might find it self involved in another war,one that this nation and world is not prepared to fight.

The war in the Ukraine is not the only thing we need to be watching as places like China are ramping up not to mention Iran, NK ,Syria

We can all sit back here at home and pretend that we don’t have any thing we can do about it or we can actually take a moment and contact our federal elected leadership and ask them what they plan to do

If we want to be pulling trucks, tractors in twenty plus years we need to start to work on getting our nation back.

This will be done by getting rid of all the people who are not working for the average people! It will take a few elections but it can be done

God Bless the USA

Salute to all our service members, veterans, public service, teachers, truckers and most of all our Farmers and all the laborers who help get the food from farm to market

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Not Really
With a roth you pay your tax then invest so your growth is tax free. With a traditional you don't pay the tax invest get growth grom the money you didnt pay taxes on and then pay the tax when you withdraw. So if we go to a consumption tax those with a traditional would benefit yes. But i do not see why the roth would need to be treated special you paid you income tax before like everyone else has that invested or spent income threw the years. I don't see this as screwing the roth people but benefiting the traditional. Yes kinda sucks but going forward the benefit would be worth it. Just simply not having to deal with all the different ways to invest and simply do what you want would be incredible.