Posted on 09/28/2005 12:14:25 PM PDT by hripka
John, I take strong exception.
As a newly retired, I expect to take a net loss on my SS contributions. I got higher return on the remaining portion of my savings I was able to invest on my own. That money is just wasted as far as I am concerned.
I didn't ask for free drugs. I've had experience with 'free' drugs under my former employer's health plan. Believe me, I'd rather do it myself. It's cheaper and a lot less hassle. TANSTAAFL.
And to your third point, I think any kind of absolutely no exceptions flat tax, either consumption or production is fairer and more efficient in the economic definition of that word. It would be much better for the country in the long run. I favor that. It just grinds my gears to have to pay 'greedy' politicians coming and going. We've worked, saved, and made plans under one set of rules. They can change them again. They'll come up with another cool theory some day. Some day you may find that you can't adapt so easily anymore. God bless you.
But anyone who saved money before after paying taxes on it, will be HURT because the same money will be taxed again when it is useed for consumption.
You are correct. I meant that "Thrift and frugality will now not be penalized". Its not they will be giving rewards for saving :)
If we don't "go back to that again" then FairTax proponents will continue to misrepresent the Plan.
The obvious truth is that either take-home pay and prices will stay the same, or they will both go up.
What will not happen is that takehome pay goes up and prices stay the same.
The Plan conitnues to be sold as a something for nothing plan by proponents and I will keep "going there" as long as they continue to make the false statements.
They owe sales tax on it. Any property you aquire for personal consumption after Dec. 31, 2006 is taxed. Period. Used property which is not taxed is property which has had taxed imposed on it or was aquired for personal use prior to Dec. 31, 2006. Everything else sales tax must be paid, and as the Buyer without a official sales tax receipt from a registered merchant, you would be liable for it and required to submit a monthly statement and remit the tax.
It seems that it would vastly increase the bureaucracy. Someone or some committee has to decide exactly what is "new" as opposed to "used" and how does "income" differ from "service." The current IRS and state tax guidelines could be expanded to do this.
One of the purposes of such a sales tax seems to be to recover the income people "sheltered" for retirement, and make the pay their fair tax burden now.
Then you are giving for the selfish reasons.
Unfortunately for Puerto Rico, not anymore. The Commonwealth's Legislature voted to repeal those tax cuts and the economy is tanking big time. Manufacturers, (HP, Sensormatic, Avon, Hanes, Bluebell, PPG, Converse, Hush Puppy, BVD, to name a few), are closing shop fast. Last I heard, the unemployment rate is around or above 20%.
You can always count on politicians to pick the worst, of the available choices.
Best Regards
Sergio
Excuse me, but this is crap. My salary is negotiated with my employer, not some politician. Or are you assuming that the money I am currently paying to SS, Mediscare, and income tax will somehow just evaporate and I never get to see it?
Stop with the propaganda telling people that not only will they have to pay a 23% sales tax, they will get shafted out of THEIR money that is currently being paid to the government.
"Most small business people spend a small percentage of their time and money for filling out corporate tax forms. Almost every single small business owner I have talked with doesn't want to see a major change like this made which endangers the entire economy and everything they have built in the likley case that the FairTax proponents are wrong in their rosy assumptions.
They continue to lie about the plan, so I have no confidence in their statements."
Rob, when these small business owners come to you to have their taxes done, I am sure they are concerned with how they pay taxes and how much they pay. You keep telling them that they can't live without your services.
I have a lot of respect for folks that frequent this site and debate issues in the best interest of our country. Calling people liars diminishes your credability. A liar is someone who "knows" what they are saying is misleading. I don't see that too often on this cite. What would be the motivation for folks to intentionally mislead people about replacing a tax plan. If you think there are folks trying to sell books here, then you should note that proceeds are supposedly being donated to charity. Do not be mean and nasty. And do not be angry.
By calling people liars, you sound like a democrat. No you don't want people to think you are a democrat do you?
No. Remember, I am still giving $1000. Its just that the income tax deduction reduces my cost of giving.
My whole point in writing the winner/loser list is that different tax systems have different incentives/penalties. And all of those incentives/penalties change if the 'FairTax' goes through.
I am shocked that more holes/discrepencies haven't yet been found in my list. The day still has a ways to go. I'll check back later.
sure. it is a good post and I don't want to take away from that.
but it won't be until tomorrow.
but I will be back.
FairTax ping
Oh and Bingo! You nailed it on the head...
The only people not telling the truth is you Rob...
It is crap, but that is the crap the fairtax expert assumed when he made all the glowing predictions fairtaxers constantly quote. When you hear all these great things the fairtax does for you, remember that is according to their model which says you take a cut in pay. Not realistic, but their model and you must understand the assumptions when listening to the results.
Based on what you wrote, then there is always hope. Thanks at least for offering me your views.
The only way they become "losers" is if there is a consumption tax. Precisely and exactly why there will be no consumption tax. Compared with one who doesn't save and expects to live off of social security, they are indeed winners.
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