Why states should abolish their state income tax
HTML-код
- Опубликовано: 13 дек 2021
- Former speaker of the house Newt Gingrich joins ‘Kudlow’ and calls on Georgia to drop its state income tax.
Subscribe to Fox Business! bit.ly/2D9Cdse
Watch more Fox Business Video: video.foxbusiness.com
Watch Fox Business Network Live: www.foxnewsgo.com/
FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York - the business capital of the world - FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.
Follow Fox Business on Facebook: / foxbusiness
Follow Fox Business on Twitter: / foxbusiness
Follow Fox Business on Instagram: / foxbusiness
All taxes should be abolished as our founding fathers said no taxation without representation and as far as our representation it stinks
The US now has “representation without taxation” as people who pay no taxes at all get to vote. And these people will continue to vote for more free sh it at the cost of taxpayers.
If you don’t get a thumbs up 👍 from everyone;they can’t be paying attention.
states get plenty of money from casinos, bail, fines, and tolls
Clearly you don't understand what representation means 1🤣
@@jeffmiller9911 Mr Miller I clearly know what representation means maybe better than you after all living in New York I get my daily dose of incompetent representation every single day especially from Democrats who stink to high heaven so do not tell me what representation is
The federal income tax should be ABOLISHED.
Politicians would starve.
I agree that's our hard earned money 💰
All income taxes need to be abolished. Should be a national sales tax for goods. No IRS, tax lawyers and rich people will absolutely pay for those luxury goods they love so much.
@@mike-sk2li I agree, I think that's the best idea for equal taxation. You could just tax 'luxury' items more, such as yachts, fancy cars, private jets, etc.
It is called the " Fair Tax"
Let's get rid of the IRS while we are at it. What happened to the Fair Tax movement?
I miss listening to Neal Boortz
Newts a dinosaur. Let's hear from desantis. Newt said marijuana possession should justify prison but then admitted to using marijuana.
Time for new current GOP MESSENGERS THAT AREN'T 90 YEARS OLD.
Amen!
I want some liberty extremists that will not only stop all new unconstitutional laws and audit all current laws to throw them all out. Nfa is good start
Check your calendar closely it's 1775 all over again with taxes and control of citizen weaponry deja vu we have come first circle right back to the point we're going to fight for our freedoms and rights time to start spreading freedom seeds to have a good harvest
Who the hell ever decided that politics was a career??? Elected people should get a small flat fee for representing voters with no fringe benefits and there needs to be term limits on all!
I agree. It wasn't meant to be a career.
The only thing these politicians can agree about is voting themselves raises and benefits.
politics ..... nothing but organized crime..... so that should tell you who decided to make it a career and who is attracted to such a lavish lifestyle..
Never trust anyone that handles the purse strings, and makes the laws.
I agree there should be term limits and that they shouldn't be making hundreds of thousands of dollars a year, but why a small flat salary? Typically they have to quit their jobs to be a member of Congress or the Senate. They should be able to support themselves, and their families, in manner they are accustomed to. I realize that everybody in the Trump family donated their income while Trump was in office, but not everybody in Congress or the Senate is a multi-billionaire
@@alicepyne-jahneke8042 Well if you look at most of these “politicians” They are multi millionaires on a $150k salary. Hmmm, I’m no mathematician but something ain’t stirring the koolaid!
Taxes in general should be abolished. Or significantly reduced. There's no reason we can't reduce the salary for members of congress and the senate.
All members of congress should be paid the average salary of those they represent.
@@johnrobi0 or less. Congress and the senate was never meant to be a career choice.
How would we pay for roads, schools, bridges, etc?
They aren't even supposed to get a pay check.
@@heckinbasedandinkpilledoct7459 don't be dumb. State taxes pay for that.
Abolish all tax because our government no longer represents the tax payers! NO TAXATION WITHOUT REPRESENTATION!
Try to live one day without roads and infrastructure.
Closer you get to home, the more you have real representation and the ability to move if you hate one area’s policies. I’d rather see high local tax, medium state, and low federal.
it never did represent the people... it protects corporations ...
@@swordslicer56 I am a fan of Bridges...railroad bridges... or the bridge& water dam... combo, those are pretty handy too🤫 lets see if anyone notices them start to vanish🤷🏼♂️
oh levies are handy... sure wouldnt want those running dry🤨
meaning no more social security, medicare, medicaid, tax credits, subsidy from governement at all. I believe 1/3 of US population rely on those sources of income and benefit
property tax's should be gone! Then a person could really own there own home without the fear of counties from stealing your home that they have worked so hard for not some county. here in Utah I have no kids in any school but I have to pay over 1000.00 a year to schools to teach illeagles! When Mexico should be paying the U.S. to educate there unwanted.
We have to unite!
Buhaaaaaaa you are complaining over $1000 a year ? Try over $7000 a year and then you can cry 😂
@@Niles-Guy no..it should be $0.. Its ridiculous that we have to pay taxes continuously on things we've already paid for.
Totally agree
@@Niles-Guy The Price of land and material build cost way more the $7,
How about abolish the FED, and the IRS and return to the gold standard. Cut 90% out of the federal budget.
Only a fool would assert your statement as some sort of remedy. If you want a boom/bust economy, stagnation, depression, and surrender to foreign competition, go to a gold standard and lose the enforcement arm of tax collection. I don't think you've thought your position through thoroughly.
@@djrychlak4443 The Creature from Jekyll Island
Department of education
@@gretelhance a.k.a. the Department of indoctrination
@@johnguilbert1349 dont argue with these idiots dude. Obviously, you understand the problems and the solution to those problems. Have a good day fellow Austrian.
Time to stop paying federal taxes. That tax was to be a one time tax. American people need to do their fact searching.
It was actually voluntary and they made it universal show me the law that says I have to pay income tax there is no such law it never was
freedom tax from WW2
I pay taxs every pay check, that proof. Filing is different. Government own me nothing & i own government nothing.
@@dewaynehickman4996 again the IRS "Thanks you for VOLUNTARILY paying your taxes" did you know you can tell your employer to take no taxes out of your paycheck and if they say no you can say its the law you have to and sue them, did you know the IRS's own rules book says "if you dont pay you dont owe" this is not cryptic its written very clearly and lays out how taxes work, but ultimately the term "thank you for voluntarily paying" is the key and thats written into the front of the IRS manual and it used to be on the tax forms but they took it off when people realized what it meant and started keeping the money for themselves.
Right
The only way to stop their spending aaddiction would be to cut the funds,as if punishing a spoiled child.
It's legal to not pay taxes for three years.
But then people who dont work and live off welfare will have to be productive members of society.
@@PEEinMYbutthole200 they are giving billions of tax payer dollars to other countries who use it for guns, oil and drugs. Helping our own shouldn't be an issue. That only accounts for less than 1% of federal spending. The rest is the black budget,and them giving to other countries like Iran.
I pay over $12,000 in CA state income tax every year. It's going to be a nice raise when I move out of this God forsaken state.
Then dont come to Utah because they will hammer you just like California.
@@gladegoodrich2297 I get you. I'm not one of those lefty communist.
I'm going to a low tax red state where I'm celebrated not tolerated!
@@ronpage101 where would that be? I'd love to join you.
@@ronpage101 - No state will offer an escape, it is too late for that. I hope you understand that eliminating state taxes is a tasty bait, meant to lure and hook an unwary public. What happens after a state has reduced their income? It cuts funding and allows private interest to take over government run assets. Long and short, the tax bill for the state will be borne by paying higher costs to private corporations, for any number of previous government functions. This makes asset owners wealthy. Just this year, the value of asset ownership has increased by $9.9 trillion, in great part since government functions are being turned over to the "private sector". By the way, $9.9 trillion is more than 2/3's of our nations entire economic output for the year so far, all going into the pockets of already wealthy people.
Are you are worried about what the democrats are doing in California? Worry instead about what all politicians are doing, because they don't work for us anymore. Just ask yourself, how is it possible that "profits" on asset values this year, is greater than 60% of our entire economic output? We were all set up, in a game where wealth grows faster than the economy. It is a rigged game, and also a house of cards.
@@coolmodelguy6304 Good info. I realize that there is more going on than what these corrupt politicians tell us. And I know the elites are pulling the strings. But I do not agree with where my tax money goes in this state. There are other states that do not have a democrat supermajority, which align much better with my beliefs. And the state taxes are much lower.
As a newbie in the US I see that State and Federal tax contributions for both type of authorities are totally inefficient, over paid, wasteful and possible corruptive practices should be on performance based budget norms to make sure our money is well spent for “US” not their own dreams and ambitions.
Welcome to the US!! Yes we have been fussing about taxes FOREVER. LOL
New and Complaining….. figures
Property taxes should be abolished...
If it’s paid off it’s none of the government’s business.
Sales tax on all things should be abolished too. I know certain states have different rules, but if I go out to dinner and have a meal and the staff does all the work and at the end I’m full and happy, why should the government get a dime? They didn’t do anything. I’m going to leave a tip for the server, but why do I basically have to tip the government too?
Switch to taxing the mortgage payment transactions. That would cool down the housing prices lol
@@Whoopdido777 the government provided a safe and secure place to have the meal (supposedly). the taxes are basically protection money so as we can do business without being robbed. not workn out so well in cali lol
@@chrisfrisch1347 Yeah ok I guess I can maybe buy that argument, but like another poster said, the government is already getting property taxes too. Remember, businesses also pay property taxes, so if you happen to be a business owner you pay property taxes on your home and business. Plus, of course there’s income taxes. I mean they can only tax us so much right?
Property taxes are primarily for schools and libraries, and have a legitimate place in the tax system;
SALES TAXES do not!
That's what should be abolished, and moved over onto income taxes like it was 50 years ago. Sales taxes help the rich avoid income taxes, so that needs to change.
WTH! My grandkids keep getting quarantined … their parents can’t work, as they are continually sending them home for 10 days! They are being sent home with haphazard school work! Ridiculous! Close The Borders immediately! WTF
What
Get rid of the unconstitutional income tax.
Democrats are too stupid to actually follow what works because they're only interested in what they can grab they're going to be touching some mighty fast items soon with the dispensing of freedom seeds
The income tax is constitutional. You and your fellow anti-taxers are miserly cheap moochers who want the benefits of civil society without paying for it. Go mooch somewhere else.
@@djrychlak4443 don't be daft
@@djrychlak4443 isnt it amazing?
@@theoryofpersonality1420 , hes spot on. to espouse otherwise shows absence of knowledge.
I am all for NO state income tax. The burden of this democratic spending spree has got to stop and the working class should NOT have to foot the bills for their recklessness.
While you’re at it, get the states to nullify the federal income taxes (all of them), so we can put a stop to the criminal reprobates in the federal government.
Was thinking the use of State tax should be for our own citizen volunteer backup to National Guard. Like Florida is doing.
I think our own State militia should happen when Commies try to take over our States. No more illegals, or law breaking politicians.
Yes yes and yes
"... or law breaking politicians." Apartment 32G Trump International Hotel NYC. Trump Chicago Hotel, Deutsche Bank loans. Bayrock Group, Inc. Felix Sater. Essential Consultants, LLC Michael Cohen.
@@Mike-vd2qt You are cherry picking. There are many more liberals breaking the law. Biden is getting away with treason for aiding and abetting an Enemy which is the Taliban. They have hundreds of millions of dollars in US military weapons and the Liberals want to take guns away from American citizens that want to protect their families. You disagree?
Not just Georgia, all the states that have a state income tax call on them to get rid of it. Especially here in Illinois please.
You would have to ditch your democrats first!
Nah. I’m 20 and I live in Georgia. They take over 500 from me every pay period. Georgia taxes have become harsh.
@@calvinkennedy9863 No worries. That is how wealth is re-distributed! You are 'the rich', who are going to support the junkies!
Imagine the exodus if some states abolished income tax. CA would be a high tax ghost town
Nevada, next door, already is income tax free. One of many reasons why people move there
Like TX? Californians keep moving to TX and bringing their blue pills.
I'm in Cali and we get taxed every witch way but lose. the food at schools looks and taste like puke. We spend much more for a 6x8 prison cell then my family has to live on,, you know you are here when the roads go to crap, the recall election was not fair,... Please do not give up on us.
CA living beyond its means? Or is CA so dumb to elect people who live beyond their means that need to embezzle tax payer contributions? It doesn’t matter, between CA and NY they are both political embezzlement scams and those living there keep letting it happen without any accountability.
Move to Texas
I was thinking we need to abolish federal taxes.
Our military doesn’t work for free
@@clintfowler1526 no it works for idiots
With dumocrats in control, I totally agree!!!!!!!!!!!
May be on to something...Individual [ all] expected to keep tax $ within indiv states..Fund military by these means...[ 1 stats..ND or.. pays/paid zero fed taxes..Gave low interest loans n the populace invested. Hasn't requested much of anything...Low-low interest loans are good business.
@@whatcanitellya6075 those taxes cover the roads, schools, firefighters and so on. I think.
When you have people wanting to end state income taxes, the Democrats need to understand that maybe in their crusade to help illegals, lazy bums, and the ones who ACTUALLY need it, you're hurting the majority of everyone for a minority that is ONLY growing with every program paid for with the money you "steal". We are willing to help Americans the ACTUALLY need it, as long as we can take care of OUR families and retirements too. We trusted the government already with the retirements funds and look where thats at
Agreed!
Lehandra, I hope you understand that eliminating state taxes is a tasty bait, meant to lure and hook an unwary public. What happens after a state has reduced their income? It cuts funding and allows private interest to take over government run assets. Long and short, the tax bill for the state will be borne by paying higher costs to private corporations, for any number of previous government functions. This makes asset owners wealthy. Just this year, the value of asset ownership has increased by $9.9 trillion, in great part since government functions are being turned over to the "private sector". By the way, $9.9 trillion is more than 2/3's of our nations entire economic output for the year so far, all going into the pockets of already wealthy people.
You are worried about what the democrats are doing? Worry instead about what all politicians are doing, because they don't work for us anymore. Just ask yourself, how is it possible that "profits" on asset values this year, is greater than 60% of our entire economic output? We were all set up, in a game where wealth grows faster than the economy. It is a rigged game, and also a house of cards.
@@coolmodelguy6304 no matter how you spend this tale of yours, countries have never fallen due to corporations takeover or from them mismanaging tax payer dollars. We have seen in the past and even now, how big governments act when corporations grow to big or get in the way of governments business to the point, that they become a nuisance. Nice try though. Nations and empires fall when their governments grow too big and they overspend, running their own currency into the ground.
@@beautifully_scarred_lea - Lehandra, I'm very sorry for your misunderstanding. No nation has fallen because their governments became too large. If that has ever happened, it has escaped being recorded in history texts. The Roman Empire fell because of their oligarchy. The British Empire fell for similar economic reasons. The American Empire is currently set to fall. Empires built on slavery have fallen. Empires built on capitalism are crumbling right now. This story you are telling is elitist propaganda, designed to fool you. The real question is why are the elites spinning the tales you believe in? My "tale" is factual, all taken from actual economic figures, which you also can access and look at for yourself, if you cared enough to do so. Oh, and by the way, the host Larry Kudlow is a failed economist and Newt is a clown.
@@coolmodelguy6304 that's what I'm telling you and I'm sorry I didn't explain it throughly enough. I thought that you would come to this conclusion, which you did, on your own with the information I gave you. Countries fall because their governments do get too big. When they become so big, you can't reassure that every member, will behave fiscally responsible. When BIG governments spend recklessly their owns citizens tax dollars, the inevitable will catch up. You don't have to be a rocket scientist to figure out that it is POOR ECONOMIC POLICIES THAT THESE "ELITES" IMPLEMENT, WHICH CAUSES SOCIAL UNREST, THAT DESTROYS COUNTRIES AND EMPIRES. GREED FOR THE FEW FROM THE MANY!!
Yeah, because we get taxation without representation from our states.
They need to abolish property tax. Why should people who work for their stuff be penalized...
Absolutly but they dont want us paying land taxes so that when somebody get into a financial loss they take the property n homes away
One sad thing about property taxes is that they fund schools so if people live in a poor area, they will also have poorly funded schools. That’s one thing we also need to change, schools should be funded from something else other than property taxes perhaps.
I rather abolish federal taxes and pay a 5% income tax to MY state where I will actually see positive change from it. Let the states have the power!
I live in Chicago. I do not want this state to take anymore than they already do
Just because I work doesn’t mean you’d reserve some of my money.
Democrats are spending uncontrollably. It’s got to be paid for. That’s the part they aren’t telling you about. Stand by. It’s coming. Big time.
Let’s go Brandon!!
When Democrats aren't spending uncontrollably there's probably a Republican in office spending uncontrollably. Bush spent more than Clinton, and Trump spent more than Obama. Every new administration out spends the last one because that's the nature of the post-1971 bubble economy. Cutting spending is just arbitrarily slowing the economy, there's no longer a benefit to it because the currency is essentially worthless unless used to leverage debt.
Under Trump, the federal debt increased by 7 trillion dollars...it went up more in Trump's first 3 years than in Obama's final 3 years....just curious if you were writing then, about Trump's federal debt....
The United States got rich by taxing IMPORTS. Tariffs. Duh! That’s how you do it. Not by taxing its own citizens.
Just ANOTHER reason that I choose to live in Texas!!!😀😃😄🥰
Yeah, if you can afford Texas' crazy high property taxes.
The buffet capital of the world.
@@roywilkowski1409 huh I pay 2200 a year for 4 acres and a 4 bedroom house if that's high buddy you might be broke.....
Texas F'Yeah!
Texas property tax is the highest in the country but the land you get for the price beats like every state that’s why.
If you compare a house in Texas to Cali Same price
You’ll get more for your money in Texas. So the Texas equivalent would be. A cheaper property so if you actually match the type of house instead of price you’ll pay less in Texas and less property tax
Why do people with no kids at home have to pay school tax? It is illegal to force retirees with no children at home to pay for other people's kids'. education.
I have no say at a school board meeting with no kids in school. Taxation without participation!!!
It should at least be reduced greatly when kids turn 18/graduate. Homeschooling property owners pay school tax and don't get any benefits.
What about Indiana? I'd Love to stop paying the 7% sales tax here. We have to pay extra for our license plates each year. This is calculated by the value of our vehicles. Added onto that is a wheel tax of $5.00 for each wheel the vehicle has. We have 3 older vehicles and one is a dually which has 6 tires. It's well over $200 every year. We deserve a break
That’s one of the reasons I moved to TN. But there are more…!
@ Nancy Carnes - they're talking about income tax not sales tax. Florida and Texas sales tax is 6 to 6.25 plus add county, city and special sales tax. Which can be 2 to 4 % more per county, city and specials.
I was 12 years old in Indiana in 1963, when the state instituted its first sales tax - 2%. You can never move the hogs away from the trough.
what if you own a farm/ranch and own a lot of vehicles, do you have to pay tax on every wheel? dumb.
stop over in Illinois We tax our taxes it's crazy and I bileve towards Chicago it 10% or 10.5% on sales tax on everything including food it's about 7.5 to 9 everywhere else
In Tennessee, our budget book is net positive
But the tax burden is shifted to the consumers, both employed, unemployed, and retired, in the form of sales taxes! Low income households and the retired are the worst hit percentage wise.
So you want people to take more from the system than they put in it ? That is why the federal budget is in debt because you and others believe you should have to do nothing and get paid because it your right as an American
@@jackrockholt2823 theirs a deficit because of over spending by politicians. They don't just spend $ from taxes, they borrow, print more $s. They need to be defunded
Overspending on welfare and federal programs that doesn't get people out of poverty
Massively positive. We run a huge surplus in Tennessee every year.
If everything is free and there's no consequences to just printing endless piles of money then why are we paying taxes at all?
Control
Illusion of liquidity.
Hellyeah.. end it.. now..Florida is an example. And a great state with growth. Lets do this
TN doesn't have a state income tax and hasn't for as long as I can remember
Move to Florida and buy dangerous hirises.. and the toxins from the oil rig blowout in the gulf are coming ashore , drying and absorbing into the food and every surface. Don't forget the Nile fever and hurricanes scouring away the state. Or live where healthcare is free..
Washington state doesn’t have an income tax either
Abolish all taxes .
Property taxes are through the ionosphere. Eliminate them.
They’ll be a federal land tax soon. Just wait. They want to shut the farms down and move everyone into cities
The recently deceased Phil Valentine was instrumental in blocking and permanently preventing a state income tax in Tennessee.
Hallowed be his name.
Connecticut was supposed to have an income tax for a short time. That was Governor Wickets idea that was decades ago and we are still paying and paying and paying ...........
Yep.. it was supposed to be temporary.... like 30 years ago... smh
There is no such hing as a temporary TAX, it's a ploy to lull you into acceptance!
At least allow an option to opt out of paying higher taxes to fund illegals and immigrants , don't dare say we don't , that would be an insult !!!
States and the fed could easily survive on a fraction of the revenue they have. Overspending by politicians is the world's greatest problem.
I agree, government always wants to vote to raise the debt ceiling, because their always spending more money on things that we don't need and what project they want to put in a spending bill. It's time for the federal government to start balancing their budget, and stop spending. We the people have to live on our budgets so should our own government, then their would be no reason to keep voting to raise the debt ceiling.
Not as long as we have a bloated social security and VA. We need to defund the welfare systems that elderly people and veterans are free loading off of so we can cut a majority of the taxes we currently pay
"This is the people's money, not the politicians." I can hear the screeches of "heretic!" from Washington. Lol
no tax will ever go away.. they will just find another way to get you
Florida also uses lottery money to give kids free college if they get a 3.75 GPA and volunteer 100 hours by the time they graduate high school. Idk if they do this in other states but I live in Florida and I know people going to state universities and actually got paid to go to college.
Tennessee phased out its income tax on interest and dividends, which was punitive toward savers, investors and retirees. Now we're on par with TX and FL to attract new industry.
Don't agree! Only States should collect tax, Federal government should be asking states for money, Not demanding money from the people
Jeff you are absolutely right about that
Try the Florida model. No income tax, a budget surplus and sane Covid policies!
Yes tax cuts and get rid of the state income tax especially Washington state and vote out all the democrats and throw them all in jail!
Clearly there is a major surplus if we have enough money to send to all these other counties while we still have homeless veterans and starving children in our own country.
Read The Fair Tax. Abolish all income-based taxation, and the corruption that comes with it, and replace with consumption-based taxation. Close the IRS! This proposal has been out there for 20+ years and is the best option to increase liberty, business activity, and take away power from useless politicians.
Love The Fair Tax! EVERYBODY pays and at the same rate.
We do have to have federal taxes to administer the government, and pay for our defense. Our government is doing neither, especially the latter.
Why did he not mention about Oklahoma abolishing its state income tax? That would help level the playing field with Texas between us!
Family is from GA and I'm going back to TN where we ended up, mainly due to no state income tax. GA needs to get rid of it.
There’s no law that The American People “have to” pay taxes. We just do it because they say so. We should just stop paying taxes, then they wouldn’t have money to enrich themselves. Just a thought 👊🇺🇸👊
If you don’t pay, they come after everything you own plus your income!!!!!!!
I know someone that did just that and in a few years the IRS came knocking. After lawyers fees and fines and late fees he still had to pay his taxes.
Yeah but there is a law against not paying. Considering in the end tax evasion is what took down all capone, and his entire empire. Might be a good idea to just keep paying
@@Lunzie the it's is an illegal organization based in another country. Call the irs and ask for a written copy of the law that says you have to pay taxes. JUST ask.
Article 1, Section 8:
“The Congress shall have the Power to lay and collect Taxes, Duties, Imposts and Excises to pay the Debts and provide for the common Defense and gen- eral Welfare of the United States. “
16th Amendment:
"The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration."
Sure they will just hike up sales tax and property tax
Oregon is too blue and likes to spends other people’s money. Taxes are horrific in the state, property taxes are sky high. The only consolation, no sales tax. I would rather pay sales tax than an income tax. Oregon’s income tax is 9.9%, ranks up there with California and New York states.
Would visit but never live there!
I'd make an extra $3,800 a year if West Virginia stop their income tax
How about zero(or severely reduced) property taxes for Seniors. The Fed holding interest rates at zero, hurts Seniors and the poor the most. Seniors count on interest on savings to supplement social security.
No reduction in Property tax in my county in North Carolina unless you are over 65 or disabled and make less than $31.000. For a couple it's the total.
They can do away with the state income tax here in Indiana. That would be wonderful.
Every state and the Federal Government should abolish income tax charged to retirees and senior citizens. We've done our time, paid our dues and should not have to pay again for retirement.
One forgets that Ohio once had no state tax,until Gillagan became Governor.
You can only do 4 things
1: cut taxes, cut spending (what you should do in a recession)
2: Raise taxes, Cut spending (what you should do in a good economy)
3: Cut taxes, Raise spending (What republicans do)
4: Raise taxes, Raise spending (What democrats do)
Take away the State income tax and the federal government will raise theirs to make it up
You two speak some major truths!! Thanks gentlemen!
Abolish all taxes, and go to an across the board, fixed tax on net worth, wherever it is held. No more loopholes, carve-outs, or exemptions.
Letting politians spend our money is like letting the fox guard the hen house.
Yes, I was thinking we should fly with this idea. I resonates, doesn’t it? 🇺🇸
Happy in Texas. No State income Tax
Thankyou Newt Gingrich and Kudlow. The two wise men.
Abolish all taxes
Agreed! No need to raise money to pave the roads. Military service members can work for free.
what is sales tax in those states?
New Hampshire, has no income, or sales tax! The state runs liquor stores.
Here in Texas it's 7% but municipalities can add a maximum amount of 1.25%.
Most taxes should be abolished, and so should corrupt big government and big waste!😐
Totally support Laffer’s flat tax. These guys are absolutely correct
Abolish it yes, but do so in increments. The net increase in income would need to be higher than the offset increase of corporate taxes and sales taxes. Also probably a good idea to significantly lower the corporate tax for smaller businesses as well. It incentivizes growth and means people will have confidence to spend more money which will increase tax revenue.
Florida has half the budget of NY, twice the people, and no income tax. We have $15B in reserve. But also tourist income
Please, abolish state tax then the property tax goes up. It hurts the seniors and less fortunate folks watch their rent increase. I thought Gingrich was smarter than that.
We as citizens shouldn't have to pay state taxes because most states have betrayed us , Ohio for one for sure .
Ohio resident here. 100% agree.
Definitely agree. Colorado is the biggest rip off, cost 1000 dollars to register my truck for the first time. Plus I paid state income tax. All this money was suposed to improve the roadways in Colorado. All that on top of the millions of dollars in taxes off legal weed. That is also supposed to help repair roadways. Yet the roads in Colorado are trash.
That's all fine if you plan on working for the rest of your life.. But, Once you retire let's say in Texas, YOUR PROPERTY TAXES Will Drive YOU out of YOUR HOME.
Making it too costly to live as a Senior Citizen on a Social Security check.
You shouldn't be depending on only SS in retirement. The next step is to get rid of social security.
And it's easy to move to a cheaper home to pay less property taxes. Also if we privatized education property taxes could be lowered.
The FEDERAL GOVERNMENT should abolish income tax. Our money is taxed when we spend it. It's taxed when inherited. It's taxed when transferred. It's taxed at every possible opportunity and the government STILL can't balance its budget. If you receive ANY government-funded benefits, you SHOULD NOT BE ALLOWED TO VOTE. I don't want Washington buying votes with MY money.
A state eliminating its income tax is NOT reducing taxes - it will compensate with increased taxes on Everything else: license fees of all kinds, sales tax especially, use fees and taxes. I live in Washington which has no income tax and believe me they more than make up for it with hundreds of other taxes. A couple of examples: If an item is on sale in a store, you will get taxed on the regular retail price - NOT the sale price. If buy a used car, you will pay tax on what the state thinks it's worth - NOT what you actually paid for it. Do you see the pattern? The state inflates the value of things and then taxes you on that inflated value - this way they can appear to not be raising the tax rate %.
I'd rather pay state taxes and do away with federal taxes.
If you want 10% sales tax, go for it. You are not reducing taxes - you are just shifting them.
Louisiana has state tax and a sales tax. We get it both ways.
Florida buddy
But it's more difficult to control the taxes you pay. Few people will take a pay cut.
Have a balanced budget, no withholding- everyone pays quarterly, tax social security up to $1 Million of income, have one deduction for $35k and pay flat 15% federal income tax on everything after
Not bad. I would prefer a consumption tax over flat, but either would be better than what we have now.
Uh how about no.. the government doesn't need more money.. they get enough from sales taxes.. you sound like another person who thinks the government survives only on taking other peoples money at force..
They already tax Social Security even Disability. Plus Social Security is a Tax in itself. Try not having it taken out of your paycheck if you don’t believe me.
@@jacksparrow3490 - under a plan like mine the Government would have less and be accountable.
Note - I mean pay Soc Security up to $1 Million. Right now I think it caps at $95k.
All income taxes should be abolished. Taxes are necessary but the income tax is the worse way to tax. It allows government to pry into your personal life like no other tax does. Banning income taxes (both State & Federal) is about privacy and freedom.
Property taxes need to go also, why am I paying for someone else's pension when I pay for my own?
Flat tax for everyone would be perfect!!!
It may sound good but in reality not so much. The rich will just use expensive accounts to avoid it. What they are doing now is taking loans against stock valuations. You don’t have to pay income tax on a loan…..
Try and tax someone 20% who makes 25k a year…….thats $5000 when you are below poverty line. You wouldn’t be able to eat. The middle class would end up carrying the tax burden worse than a progressive tax. Rich people love the flat tax idea for obvious reasons. It’s a bad idea.
My problem with this is that it doesn’t really help the majority of Americans who need more money than they have now. A flat tax may sound good, but there are many benefits an economy would have if we had a more progressive tax system that raised taxes on the wealthy and redistributed that money through social programs such as a negative income tax. A negative income tax gives people money based on how much they make in that year. It would be a good substitute for welfare since it actually incentivizes people to work since the more you make, you more money you get through negative income tax. Plus if the lower class and middle class have more money to spend, this increases demand across the board, makes people happier, and would make the average American much richer and happier. I’m not saying we should go overboard with the amount of social programs we have, since that could lead to a lot of debt or taxes that are too high, but tax raises on the wealthy would be great for the economy. In fact, a lot of social democratic policies have already succeeded in countries like Norway and when looking at the statistics, their economy beats ours in almost every way except GDP, but that’s only because we have a higher population for the most part.
I used to respect him but scaring old people into buying "home title insurance" made me think he's probably not a good person.
Be careful which states you reference. Texas may have no income tax but they have some of the worst local property taxes in the entire country. Property taxes are horrible because even when you retire and pay off your mortgage you still are stuck paying taxes
Abolish federal income tax!! Replace it with a sale tax!!
We should also abolish the IRS. It's expensive, archaic and counter-productive.
No.. WE… NEED to abolish…OUR… Federal Tax by State Secession !!!
*_FEDERAL_* taxes should be abolished, not state taxes. I choose to live in my state, and I get to vote what my state does with my taxes, so I'm willing to pay to live here. If the state decides to do something I don't agree with, I can move to another state. I never get to vote on what the feds choose to do with my money. That said, we basically have no representation anywhere, so no taxation at all without representation. Where have we heard that before? Hmmm...🤔
Debt Ceiling Limit 🤣 You spend more than you collect, just get rid of the Government at this point 🖕
Wet dreams. It's too lucrative. They ain't going to let go of that power.
State taxes should fluctuate based on its citizens wish and federal tax should be low and only be spent on national security
New Hampshire ( Live Free or Die) has no state income tax or sales tax.
State taxes are miniscule compared to federal taxes. I would pay state over federal anyday. We need to reduce or abolish federal taxes from our paychecks. Reduce the taxes then balance the budget on the reduction.
Florida has: Great infrastructure, well above average test scores among ALL grades, internationally ranked Community College system and well paid municipal wages ...They don't collect *ANY* income tax. They just have a higher sales tax, which is the fairest system that truly makes sure big spenders are paying their fair share and so are the people spending less.
The federal government ran without an income tax until 1913. Before that, they were entirely funded by import taxes and tariffs.
GOD BLESS NEWT GINGRICH!!!
The property tax is the one I'd abolish
Come to Honolulu, Hawaii, always taxing everything, taxes in Hawaii only goes up.