Creating Wealth Real Estate Investing with Jason Hartman CW 566 - The Rich Don't Pay Tax or Do They?, Flat, Fair or Sales Tax with John Gaver
A look at three different tax scenarios. What would you pay if the proposed flat, fair and sales taxes were implemented. Currently with issues such as underreporting of personal business tax, formal renunciations and “workers without papers” paying tax the IRS claims to be billions behind it what it should be collecting. John Gavers current book delves deep into the intricacies of the flat and sales tax programs and his upcoming book will dissect the fair tax and how the economy would be affected if it were to replace the current U.S. tax system.
Key Takeaways:
Jason’s Editorial
[2:00] The age old tax debate
[3:13] The velocity of money
[3:54] Candidate Obama eluded to an asset tax
[4:33] Capital formation means the capital is never really dormant
[6:35] An update on upcoming shows
[7:05] The new VentureAllianceMastermind.com answers all of your questions
John Gaver Guest Interview:
[9:20] The IRS report says the rich are paying too much tax
[10:44] 2300% increase in formal renunciations
[13:33] Is California the new Michigan
[14:55] Does a flat income tax make sense
[17:49] The Reagan reform 2 tax brackets
[19:45] The book is based on IRS total collections
[20:47] The fair tax taxes “workers without papers”
[23:05] John’s position is …
[26:01] A national retail sales tax would be collected at the state level
[28:35] Consuming a service is considered taxable
[29:34] Buying a used home would be tax free but would anyone buy a new house
[30:33] My The Tax Deception book will look at the fair tax
[31:31] A flat tax will end up hurting the middle class
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