[mombrown1]

If we get the flat tax it goes something like this -

Flat tax 17% + FICA 7.65 = 24.65% (32.3% for self-employed)

It taxes corporations at the same rate who then pass the 24.65% onto the consumer in hidden taxes. So we dumb consumer will be paying close to 50% which is a tax increase.

Also, we are supposed to submit our tax return on a postcard with our name, social security number, and income. Now, I don't know about you but I don't want my SS# and income on public display.

The Fair tax is a one-time tax at the cash register. No tax return. No IRS.

Need I say more.

[Echo Talon]

Need I say more.

yea you need to read Steve Forbes Book

[Echo Talon]

The Fair tax is a one-time tax at the cash register.

Yea and the raw materials bought by the "corporations" for their product are taxed and passed on to the stupid consumers who pay for the tax again at the cash register.

[goldstategop]

Yes, exactly. How does giving yourself a 25% tax cut sound? And there's more - you can give yourself a tax cut whenever you want by just changing your spending patterns. It puts YOU in control of how your dollars are spent, not that of politicians in far-off capitols.

(Denny Crane: "Sometimes you can only look for answers from God and failing that... and Fox News".)

[Phantom Lord]

No IRS.

I am a supporter of the NRST, but the claim by many supporters that the IRS is eliminated is a lie. There will still be, and has to be a federal agency charged with collecting, enforcing, and investigating evasion. The IRS will still exist.

[vollmond]

It taxes corporations at the same rate who then pass the 24.65% onto the consumer in hidden taxes. So we dumb consumer will be paying close to 50% which is a tax increase.

As opposed to now, when businesses are paying taxes out of the kindness of their hearts, and not passing those costs on to consumers.

[SunnySide]

"In 1986 we enacted what was supposed to be a wonderful tax reform plan that eliminated most tax deductions and instituted what was essentially a two-tiered flat tax. There were two tax brackets, 15% and 28%. Simple as that. But it didn't stay simple. That tax law has now been amended and modified more than 10,000 times."

Question, if the fair tax becomes a reality would it be able to steer free of future amendments and modifications? Seems once anything new comes along a clique of grubby pawed jerks ruin it for the majority.

[DennisR]

I do not believe someone who is self-employed pays the same amount of Social Insecurity as you have stated. They pay the 7.65% only once, not twice, I believe. There might be a limit beyond which you do have to pay the 15.3% - do not know.

[lewislynn]

Flat tax 17% + FICA 7.65 = 24.65% (32.3% for self-employed)....

LOL

...So we dumb consumer will be paying close to 50%

You got the dumb part right....

[Cannoneer]

The mathematical model is incomplete.

"Flat tax 17% + FICA 7.65 = 24.65% (32.3% for self-employed)"

Actually the difference between the individual tax vs. the self-employed is the extra 7.65% is hidden as the employer pays this, in effect making the total tax burden the same.

Interestingly when you receive you SS statements periodically, only the portion of the FICA reported on the paycheck is tallied. In effect you only see half of what is contributed in your name.

One among the many deceits in the Income Tax. I, for one, am ready for the end of all payroll taxes. Bring on the Fair Tax.