Tax panel leans toward AMT repeal

MarketWatch ^ | 5/20/2005 | William L. Watts

[Principled]

Please cite a legal dictionary's definition of "fair". You can't because it does not exist.

That's really a dumb statement. Any of the internet based dictionaries has it.

That there are multiple references for a definition of "fair" doesn't mean I think taxes are fair.

[lewislynn]

Who is eliminating taxpayers?

The fairtax

You invented that.

I invented the idea that the fairtax eliminates taxes on SOME business and SOME corporations? thereby eliminating SOME taxpayers

I said MORE taxpayers.

SO...

Business and corportations don't pay taxes

They don't? Why do they file?

[lewislynn]

Oh, and it's not mathematics ... it's arithmetic.

Oh and that's imbecilic...not idiocy Lapdog

[Principled]

Business and corportations don't pay taxes

They don't? Why do they file?

There is no reason for it. It hides taxes paid by individuals and it adds to the overall expenses of business unecessarily.

Business taxes should indeed be eliminated.

[lewislynn]

Business taxes should indeed be eliminated.

I thought you said they don't pay taxes....

[Principled]

They don't - they collect them in the form of higher prices, lower wages, or reduced ROI. The feds are able to fool moronic retards into thinking a tax on business is paid by the business.

This way, the feds can raise taxes on all of us by making business collect it from us. THe unbridled stupidity of those who do not recognize this squares directly with the number of liberal democrats.

[lewislynn]

They don't - they collect them in the form of higher prices, lower wages, or reduced ROI.

To what part of business does that NOT apply?..

Doesn't business tax paid by individuals fall right into your own definition of a larger tax base?...Meaning more taxpayers makes a lower tax rate for you.

This way, the feds can raise taxes on all of us by making business collect it from us

That sounds like a national sales tax to me.

[Principled]

Doesn't business tax paid by individuals fall right into your own definition of a larger tax base?..

Read slower. This is only part of it. Look back a few posts - the existing taxes collected by business are invisible to the individual consumer. That is one of the reasons business taxes are nothing more than hidden taxes on the individual.

My God you are dense.

[Final Authority]

WRT 260, if you can read English and are intelligent enough to actually decipher what the writer is conveying, you would learn that I didn't write "faitax" but I wrote "sales tax" as you would be the first person to differentiate the two. If you can actually read, you will either see that I am sophisticated in my writing and thought process or attempting to trick the stupid. The way I worded the sentence I was telling you two things, that it is a preposterous belief that there will be consideration by congress leading up to their voting on the eradication of the income tax, and two, they are much more likely to just overlay a sales tax on the tax system we have now.

[phil_will1]

"Your entire premise of tax utopia is based on the false presumption that if a tax reform bill is argued in congress and the central issue is whether or not to have a sales tax, that congress will see fit to eliminate the income tax first before imposing a sales tax. I think you really need to see a doctor to treat your delusional thoughts."

It is not a delusion nor a presumption - IT IS WRITTEN IN THE BILL. The income tax is not eliminated BEFORE the sales tax is implemented; they both happen concurrently. The bill is revenue neutral; leaving the income tax in place while adding the sales tax would result in a TAX INCREASE. Revenue neutrality is a requirement by President Bush and the FairTax has been revenue neutral since inception.

[Final Authority]

I just checked three "legal" dictionaries and there is only one citation for "fair". Fair is defined in one dictionary as "priviledged market" by one, and no other dictionaries define the singular term "fair". Fair is defined in normal dictionaries, (but that is not what I asked you, did I?) and if you can read, read the definitions. They are full of subjective terms, where personal preference and value judgments allow for interpretation.

You failed again, as I and others on these threads suspect you to have done in your youth and in life presently.

[pigdog]

Another that subscribes to Looey-rithmetic is heard from ...

... and doesn't know the difference between the two!!

LOL! Ignorant Nightie Line of the DAY!!!

[Final Authority]

You are still arguing a bill. We have established on these threads that a bill is just the dream of how a law should be made by the writers and the sponsors and a bill is almost never voted out of a house as it was read in. A bill is indeed Utopian, reality is what will be the result.

The problem here is, that there is already great reluctance by members of congress, think tanks, and lobbyists, to even bring up the bill before the congress for debate. Based on that, the farttax, and it may as well be just that, hasn't a snowballs chance to see the light of day.

Every time I read the bill, I see big problems hidden in the language. Mostly, I see creeping communism evident in the prebate which really will be a BIG and you know what that is, I see a devastated economy, but more importantly, I see that the only way to execute the tax is to phase it in over time keeping the income tax in place. Congress will never take their hands off of the income tax, the liberals won't let them, and they can't afford it either for many more reasons other than just money to the treasury.

[Sidebar Moderator]

Everyone play nice or I'll start taking names.

Now carry on.

[pigdog]

Wrong (again) Finial. The elimination of the income tax with the passage of the FairTax is not an assumption - it's an integral part of the bill. Just like the destruction of income tax records and defunding the IRS.

It is YOU making the unwarranted assumption.

There will be no Congressional support for including the income tax as part of the FairTax bill. That would require a complete rewriting of the bill ,,, and that ain't gonna happen.

Suggest you read the bill since you have never done so. Congress has no need to eliminate the IT first, that is done by passage of the FairTax bill in present form. But I thought you knew that since you claim to have read it years ago ... must have slipped you mind, eh?

It's amazing how you SQL guys fight to retain our present wonderful system that penalizes not only individual taxpayers but exporting business as well. Of course, none of you care about that, do you??? Or America either I would guess judging from the inane comments.

[Your Nightmare]

Another that subscribes to Looey-rithmetic is heard from ... ... and doesn't know the difference between the two!!

Knucklehead, arithmetic is mathematics.

[pigdog]

No reason to since life is not lived within the covers of a legal dictionary. I told you that "Fair" was defined by the FairTax bill itself (hint - that's why it's called the FairTax bill).

If you think the present system is "fair", be my guest (since you certainly have many other misplaced beliefs) ... there are a great number who disagree with you including many economists:

http://www.fairtax.org/pdfs/Open_Letter_President.pdf

[Your Nightmare]

Sorry, I didn't see your post. I'll play nice. :-)

[pigdog]

You are certainly qualified to know both of those "i" things, Looey!!! You clearly lead in both categories.

[Final Authority]

I am over and out on this thread.

Lewislyn, don't argue minutia, that just plays into the hands of the stupid.

All you farttax proponents, I suspect none of you are sophisticated enough to be able to read past the language of the farttax bill because every time one (I) make a cogent argument you refer me to "the bill". As if reading a bill for the umpteenth time will cause different understanding. It is the old adage of "crazy" where a person does the same thing over and over again confused and frustrated that the end result is the same. I am not crazy because I know I will get the same result, however, the proponents apparently believe that a different understanding will result, which makes me think, they are.

YN, keep up the good fight. The farttaxers are a tiny minority in the population for good reasons, no one wants to pay 30% or more when they buy a house or car, they see that the prebate is really a communist inspired BIG, they see that a sales tax will target the retirement income of the Boomer generation as their retirement would normally cause their income tax rate to decline greatly and since many IRAs are tax exempt (Roth) that the generationaly envious desire to get even by taxing their spending.

Go after them. I'll be checking in on occasion but I have to vacation on some exotic NE island with family for a month or so. Be good.