Will President Obama Sit Down With Me To Discuss the FairTax?

Townhall.com ^ | February 8, 2013 | Neal Boortz

[DoodleDawg]

Now we await the promised White House response.

I can pretty much bet on what it will be.

[Vinnie]

Every election will be a fight to see which libtard will offer the biggest ‘pre-bate’

Yeah, that's a killer. The freeloaders stay freeloaders.
The 18-20% tax on something like a car or house would, IMO kill that market.
Then there's the double taxation problem on Roth IRAs and the like.

[DoodleDawg]

Does anyone have an opinion on replacing the payroll tax with a 1% national sales tax to fund SS and Medicare?

A one percent sales tax wouldn't fund it. In 2012 we spend roughly $1.45 trillion on Social Security and Medicare. For a 1 percent sales tax to cover that you would have to have $143 trillion in taxable sales. That's considerably higher than our total GDP by a factor of 8 or 9.

[csmusaret]

If your math is correct how would using the sales tax just to fund SS work out. I am not so sure Medicare will survive Obamacare anyway.

[Mr. K]

and imagine getting a lump sum ‘pre-bate’ every tax year? it would be worse than a tax-refund is now, because ALL the morons would be getting one- there would be a rush on flat-screen TV’s and the latest iPhone every year, and then they would complain they are starving and need more money the rest of the year