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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: LongTermBRK   😊 😞
Number: of 21937 
Subject: Re: o/t, debtors and creditors,
Date: 06/29/24 12:05 PM
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That’s quite interesting re: Canada. You might be able to do something similar in the US and it might actually be politically palatable dare I say even popular?

Start with premise: 48% of US taxpayers presently have a Federal tax liability of $0. But polling on replacing the income tax—like national sales tax, VAT, etc show pretty strong support. I know, crazy, right? IOW, millions of Americans don’t really know the great deal they HAVE. And like the idea of replacing their $0 bill with something else. That’s the opportunity!

Find that approximate income cut off where Americans go from $0 tax to maybe a few hundred bucks liability and say all family incomes below whatever that is (families under $65k, singles under $37k or whatever it is) pay no income tax. You institute a national 5% sales tax exclusive of grocery food and clothing under $100–as a populist effort to DITCH the INCOME TAX for MOST AMERICANS.

I think this would be palatable on the basis the 48% don’t know they’re getting a present free ride. I know what you’re saying: preying on the ignorant.

How did we get lotteries, scratch tickets, DraftKings,
Registered Investment Advisors, Money markets with 42 bass point expense ratios? Similar thinking. All successful revenue raising schemes.

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This community has written 21,448 posts about Berkshire Hathaway. The article-length ones it recommended most:
BRK: Why Not XOM? · 62 recs · 2024
Second quarter comments · 60 recs · 2023
Berkshire's Profit Contributors · 57 recs · 2023
Summary of 2Q 2026 · 54 recs · 2026
3Q Summary · 53 recs · 2024
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