Posted on 04/19/2006 4:20:35 AM PDT by Eaglewatcher
It already works in two U.S. states Florida and Texas that have two of the top 20 economies in the world. South Carolina is one of 46 states in the nation that already have a mechanism in place for collecting a sales tax.
McWilliams conceded that 23 percent seems like a lot to pay in federal sales tax. But he said economic studies show that most American families pay more than that into the federal government under the current IRS-monitored system.
The rich will still buy expensive items and be taxed accordingly, he said, but the middle class willl be better able to operate their households. This will be a more stable source of federal income.
Globally, the United States will once again become the most attractive place for business and industrial investment once it does not have an income tax, McWilliams said. It worked in Ireland, he said, which abolished nearly all its taxes and has become the worlds number one country for investment.
It would provide an immediate economic stimulus, he said. And, without the IRS, and its 35 million annual citations and penalties against Americans, most levied against small businesses, McWilliams said people could reclaim their lives this time of year.
April 15, he said, would be just another spring day.
(Excerpt) Read more at indexjournal.com ...
(There aint no such thing as a FairTax)
Double digit taxation for single digit IQ's
*pinglist*
Freepmail me to get on or off.
Brilliant refutation of the fair tax principle, hard to argue with logic like that.
We must overlook these periodic outbursts by xcamel. He has worked at the IRS so long his ganglial bundle -- in others it would be called a "brain" -- has atrophied to such a small size that he can barely post the latest CAT scan of his head without assistance from his live-in boyfriend.
Sad -- soo sad...
fairtax details at
www.fairtax.org
You forgot to mention the EITC.
I favor the fair tax...but not without repealing the 16th ammendment. But in all honesty..it falls under the I'll believe it when I see it. I dont think it will ever happen.
Nonsensse, xc, (and that's not a "personal attack" let alone an "intense" one).
The FairTax is the most intensively- and thoroughly-economically-studied tax bill ever submitted to Congress. It is the result of knowledge and reasondable thinking, not rage or emotion.
It is the attacks of the Status Quo Lovers that qualify under those categories.
Aren't you the one whining about "intense personal attacks" that (supposedly) the FairTax supporters do???
Guess you just can't restrain yourself, can you???
Fair Tax. PASS IT.
And yes Francis, you are ALREADY paying double digit tax rates. If you haven't figured that out, then you really do have a single digit IQ.
Even God only asks for 10%, what's your excuse?
What is your plan?
Is the bill already in Congress?
What's the bill number?
Who sponsored it? How many cosponsors?
What's the rate? What and who are the tax base?
Will it capture taxes on illicit income?
Will it rid us of the IRS as we know it?
Will it treat all people equally?
Will it be border adjustable so that we can be competative overseas?
Will it be a visible tax, that is, transparent and not hidden?
Will your plan attract manufacturers from overseas to open plants here?
Can you answer any of these questions?
Do you even have a plan other than the status quo that you seem to love? Or are you just full of Shiite?
Freepmail me to get on or off.
I noticed you didn't ping your list. Is it as empty as your universe of alternatives to the current tax code?
Flat tax only flattens the Income tax and leave the rest of them in place.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.