Posted on 10/19/2006 5:11:50 PM PDT by pigdog
As specified in Congressional bill H.R. 25/S. 25, the FairTax is a proposal to replace the federal personal income tax, corporate income tax, payroll (FICA) tax, capital gains, alternative minimum, self-employment, and estate and gifts taxes with a single-rate federal retail sales tax. The FairTax also provides a prebate to each household based on its demographic composition. The prebate is set to ensure that households pay no taxes net on spending up to the poverty level.
Bill Gale (2005) and the President’s Advisory Panel on Federal Tax Reform (2005) suggest that the effective (tax inclusive) tax rate needed to implement H.R. 25 is far higher than the proposed 23% rate. This study, which builds on Gale’s (2005) analysis, shows that a 23% rate is eminently feasible and suggests why Gale and the Tax Panel reached the opposite conclusion.
This paper begins by projecting the FairTax’s 2007 tax base net of its rebate. Next it calculates the tax rate needed to maintain the real levels of federal and state spending under the FairTax. It then determines if an effective rate of 23% would be sufficient to fund 2007 estimated spending or if not, the amount by which non-Social Security federal expenditures would need to be reduced. Finally, it shows that the FairTax imposes no additional real fiscal burdens on state and local government, notwithstanding the requirement that such governments pay the FairTax when they purchase goods and services.
(Excerpt) Read more at people.bu.edu ...
He is telling me what to post.Like we didn't know that.
Here pigdog,
Shouldn't that be, Here groanup...good boy!?
You know all those professions he lists as evil because they make a living off of the tax system he hates? Well he manages tax deferred accounts (so he says). IOW, he is what he hates...He's confused and self-loathing.
You on the other hand are everything he isn't, wise and confident, making you a "target" to knock down.
You know even a prevaricator can admit to a fib now and then.
IOW, he is what he hates...He's confused and self-loathing.
The FairTaxers seem to be so motivated by hate that it just oozes. They hate the IRS that prevents them from reaching their full financial potential and robs them of freedom (I thought being a Conservative meant taking responsibility for what one accomplished in life, not playing the victim). At times their goal seems to be punishing government, which is us, rather than reforming government and reigning in spending.
We all knew that all along so our targets haven't changed.
The above is just such a strange statement.
We all knew that all along so our targets haven't changed.Consider the source.The above is just such a strange statement.
Sorry Lewis but your batting average is STILL .000. What I do for the FairTax I do strictly as a volunteer and as such I don't ask for or recieve even so much as my travel expenses for doing something like what I did last Saturday. I do it because I can think of no gift that I could give my children and grandchildren that would even remotely equal their never having to deal with the income tax or the IRS! I wnat them to be FREE!
we also found out they've abandoned the 100% paycheck promise for a net paycheck promise.
B.S. Lewis! You REALLY should learn to read and intrepret the English language!
You REALLY should learn to read and intrepret the English language!More of your "as has been proven hundreds of times" juvenile cliches. In fact of your entire message what isn't lies is getting trite.
Bigun #992
"...the VAST majority will see increased purchasing power with their net wages under the FairTax!"It speaks for itself, with exclamation.
BTW, speaking of english language the "e" in "english language" isn't capitalized.
Like the low, low rate of tax evasion under the FairTax has been proven many times, but never fully addressed. Or, the freedom one would have once government begins the task of plugging that gaping FairTax hole.
Context Lewis. Put the post from which you are quoting into context and you...well... most anyone will be able to intrepret it correctly.
...just line barking moonbat liberal dems - with a new cause...
Well look who shows up with his usual drive by post: Xdromedary. Your blather, as always, is welcome for the boost it gives to the intelligentsia on these threads. You know. When you look at a moonbat and a scholar side by side. Have you thrown up on your dog lately? Just asking that question because it makes about as much sense as 99% of your posts.
When I want your opinion on my post(s) to someone else, I'll give it to you.
LOL. Cage rattling is still in vogue.
Put the post from which you are quoting into contextOK.
"Private consumers would receive lower (gross) wages under the FairTax, because producer prices fall."
976 posted on 10/25/2006 8:21:01 PM PDT by Your Nightmare
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the VAST majority will see increased purchasing power with their net wages under the FairTax!
992 posted on 10/26/2006 6:47:44 AM PDT by Bigun (IRS sucks @getridof it.com)
[ Post Reply | Private Reply | To 976 | View Replies | Report Abuse ]
as anyone can see, I was responded to a post in which the poster asserted ""Private consumers would receive lower (gross) wages under the FairTax,..." with "the VAST majority will see increased purchasing power with their net wages under the FairTax!"
Now show me ANYTHING in that which would indicate that I believe the poster I was responding to's assertion to be correct.
What I said was that, even under the conditions he suggests, the vast majority will be better off under the Fairtax. NOW do you "get it"?
I would reply otherwise, but I'm told it isn't nice to pick on the mentally challenged
Welcome back. Have you been sleeping for the last two days?
Where's your little puppy friend? Stuck in timeout again?
lol.
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