We all should pay the same amount. We live in a society that should be taxed fairly and equally and do not use the loop holes to avoid paying what they should be paying. The rich are paying less than they should and that it is not a fair game.
Abolishing the federal income tax would be a great idea. Replacing it with a nationwide sales tax may not be the answer. The decision would weigh heavily on the fact of whether it would help to improve the economy as well as person lives. More information would have to come forth in order to make a firm decision.
The elderly are hurt since people do not earn income at a steady rate during their lifetime. The bulk of most people's earnings occurs before the age of 65. People over the age of 65 have vastly reduced incomes and live off the savings they earned while employed. A switch to a sales tax will be in effect taxing them twice. They've already paid a lifetime of income taxes and now they have the opportunity to live off of their savings and consume, they'll be taxed on that consumption. Unless special consideration is given to the current generation of seniors, they will end up paying a disproportionate share of taxes.
Replacing the income tax with a nationwide sales tax would make our tax system extremely regressive, if it is not already. Studies have shown that the top 10% of income earners often times pay a half or if not, then a fourth of the sales tax (as divided by income) in comparison to the bottom 10% of earners, due to the fact that purchases from the poor such as and especially including daily necessities have sales tax applied to them.
Sales taxes are regressive and thus makes things difficult for purchase by the underclass. Poor folks have enough problems which cause them to receive federal benefits. This makes things expensive for the government to provide them. Federal income tax is somewhat progressive and thus those most able to pay will pay the higher rates and amounts.
No, we should not abolish federal income tax for a new system. A nation wide sales tax would be difficult to implement because all states would not agree upon a specific number to place the tax at. The way we do things now is just fine and it does not need to be changed.