Posted on 02/26/2008 3:57:18 PM PST by Tolerance Sucks Rocks
Is it any wonder that the FT is favored by politicians? With the prebates going out on a monthly basis, Americans will be under a monthly control rather than an annual one. No wonder.
And the United States has a bill before congress that eliminates the income tax completely and creates a national sales tax.Let me get this straight. This is an article about the Flat Tax doing so well in other countries and what you get out of that is we should implement a national sales tax!?! You FairTaxers are too funny.
It would make the US the strongest tax haven in the world.Except for that part in the bill about withholding 23 percent of the income of foreign corporations...
Regarding you tagline; what the heck does Structured Query Language (SQL) have to do with economic literacy? Outside of financial databases that is.
?????????????
Huh? I must have missed the newspaper the day that was announced. So far, "politicians" in general are ignoring it. An enlightened few are making at least a token effort to promote it. If "politicians" in general supported it, it would be law by now.
Well you don't have it straight, as usual. This is an article about low income taxes being beneficial. Just imagine how beneficial NO income taxes would be. BTW, still waiting for your legislation.
Except for that part in the bill about withholding 23 percent of the income of foreign corporations...
From non-resident alien corporations. Are we gong to worry about them now?
LOL. The acronym stands for Status Quo Lover as in income tax preservationists. Tag line corrected.
“Except for that part in the bill about withholding 23 percent of the income of foreign corporations...
If you want to create a tax haven, then you HAVE to worry about them. The whole point of a “Tax haven” is to attract foreign capital investment, so hitting them with a 23% tax blows that idea right out of the water. Why would they invest here when Ireland and other places would tax their investment profits at much lower levels ? This residual income tax is one of the many bizarre sections within HR25. It is directly contradictory to the claims of the proponents that the US would become a tax haven.
Whew, thanks. I thought I was missing something.
From non-resident alien corporations. Are we gong to worry about them now?And individuals. So no tax haven.
I could be wrong but that clause is specifically designed to prevent non resident status from earning income here and expatriating that income tax free. If not, then it should be addressed in the debate before congress.
Non resident alien individuals.
“The United States, as a matter of law, does not tax non-US Persons who have capital gains or gains on sales of real estate in the US. Further, the US will not report the interest income, nor the names of bank account holders who are not US Persons back to their national governments. All this has the effect of making the US a tax haven for everyone except US Persons. (it should be noted that US Persons are required to report and pay taxes on income from any source, even from one outside of the US and even if the taxpayer is no longer domiciled in the US).”
.....fascinating...absolutely fascinating...that OUR own government would treat a non-citizen preferentially to a taxpayer.......I think we need to strip DC of any such power and prerogative...
The issue is tracked here in the US by the Center for Freedom and Prosperity Foundation, at www.freedomandprosperity.org
very good point!!
This attitude of seeing people as tax revenue sources rather than productive elements of an economy is exactly what kills economies. Attempting to tax income of non-residents is no different than trying to prey upon the most productive 1% of our own citizens, where people blithely accept that 1% of the population shouldn't complain about paying 40% of the taxes. In both cases, it is democracy as tyranny — a majority voting to take something away from a minority that stands no chance of voting protection for itself. Remember: “democracy” was a curse word to the founding fathers, and it was our “republican” form of government that was supposed to protect the individual from the tyranny of the majority.
tnx for the link ...
“.....where people blithely accept that 1% of the population shouldn’t complain about paying 40% of the taxes”
IMO, thats how we’ve wound up with an oligarchy...and 25yrs of Bush/Clinton dynasty....That 1% owns the government..that the rest of the country sold to them...
Gents,
Google Corporate Tax rates and find the list of countries. Now look at those with a Flat-Tax and you will also see their Corp. Tax rates are lower than ours as well. Many are the former Soviet "Stans" and even Poland may go from their 2 rate system like we had with Reagan in 88' to a Flat Tax.
Reagan would smile at the Flat-Tax Revolution going on, sad it isn't happening here....
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