Posted on 09/03/2006 5:18:40 AM PDT by Man50D
Abolish the federal income tax!
No more taxes on savings and investments!
A "Fair Tax" can completely fund the federal government, Social Security and Medicare!
You control how much you spend!
So what are we waiting for?
You, the taxpayers of America burdened with an income tax that is costly, wasteful and sinking America into inevitable bankruptcy. All current forms of federal taxation would end! You would keep 100 percent of your paycheck. You control how you spend your paycheck. It's your money. You make the decisions as to how you want to spend your money.
The Fair Tax would create more jobs and give the USA a level playing field when selling overseas. United States Senator John Linder (R-Georgia) is sponsoring the "Fair Tax Act of 2005." If enacted by Congress, it would accomplish all of the above. Simple. Easy. And affordable.
It's the best way to downsize government without disrupting the economy.
To join the "Fair Tax" movement in America, just sign the "Economic Freedom & Fairness" Petition supporting forward-thinking solutions. Go to www.grassfire.net and liberate the working class of taxpayers. Grassfire is trying to give the working class the same kind of freedom America's founders gave to those who joined the American Revolution in 1776 with the "Declaration of Independence." We won the Revolutionary War, but have lost our country since the 16th Amendment (income tax) became "Law" in 1913.
(Excerpt) Read more at bayshorenews.com ...
As I pointed out, the FairTax contribution would be much larger - even in the case of the lawyer's fee since $20,700 would be paid to the lawyer as tax rather than the $14,000.
And the amount of 20-25% is not the amount that will be removed as I've also said. Most of that will remain in item costs/prices as it does now, but some part goes to reduce prices.
On another post I offered to work with you in pinning down the figures for your particular situation, but that requires some small bit of cooperation and credibility on your part.
Too, too funny!!!
The actual cost will be much less and depends on the effective tax rate. And there's no reason for the sellers you mention to lower their gross income since most income will probably stay about where it is now. they'll benefit like all other taxpayers from the lower effective tax rates, too.
For probably the 6th time, I didn't say it would be removed. I said it exists today, embedded, as part of the cost of the item. This was to demonstrate that the criminal is paying these embedded taxes today when he buys something.
Get it now?
He doesn't want to understand, it destroys his fantasy world.
LOL, explain to me what he difference is between 'product' and 'item'. The item is the product. What you said is:
Price = Price + 23% FairTax
Besides being ridiculous, it is false because you don't add 23% of anything, you add 30% (or 29.87% for the anal retentive types). The proper equation is:
Final Price = Pretax Price + .2987*Pretax Price
23% plays no role in determining the final price. Geez, you have been 7 years at this stuff and you act like you still don't have the slightest clue. You can't post without lying. You can't actually think being a lying fool actually advances your cause.
Anyone want to guess how many post pigdog has made on this thread? Closest one wins (ones after this one don't count).
I say 127.
I say 400
The actual cost is the money you actually pay out of your own pocket for the item plus the FairTax at the effective rate ... the amount you paid at he cash register less some proportionate prebate amount.That's a sick mind showing desperation.
I say 213.21 inclusive.
I'd say almost 30% of them, though he'd claim the number is closer to 23%.
270
I have the number. Anyone else want to play???
Just what in the hell are you talking about with your "$4 on a $100 purchase"?
(Oh, and under the Fair Tax, the drug dealer will only pay 23%, not 30%. Way to go.)
Under the existing system, the drug dealer and the lawyer paid 30% on 90K, if you insist on using this embedded tax crap. That's 15% each, or a total of $30,000 in tax revenues to the gubmint.
But in addition to the 90K taxable filed by the lawyer, the drug dealer made 3.2 mil.......TAX FREE.
Under the fair tax the lawyer still makes his 90K and the drug dealer still makes 3.2 mil but, the lawyer buys a new BMW for 50K and pays $11,500 in taxes. However, the drug dealer (this one just happens to live in West Palm Beach) buys a new yacht that cost $500,000 and has a sales tax of $115,000.
Existing system - 30K in taxes for two people
FairTax system - $126,500 in taxes for the same two people.
Under the fair tax system everybody pays and that's FAIR.
I sent DeMint a follow up letter asking for a comprehensive comparison between his plan and the FairTax.
But I should have known that anything that RINO Graham supports is suspect.
OR:
Cash Register Price = Item Price + (Item Price(0.23/(1-0,.23))).
Better read #918 again. Note that 29.87% (or 30%) plays no part in calculating the cash register price. As I said, this is the "cash register" price - the price shown on the receipt you receive.
The COST to you is:
Taxpayer cost = Item Price + (Item Price(eff%(1-eff%) ... and the "eff%" will differ for each taxpayer but should be a good deal less that his effective income tax rate. Anyone can certainly see what their own eff% (effective tax rate) is for the FairTax by using the pafairtax website .
And these embedded taxes are being paid by the person purchasing the good or service-- because if they weren't buying it, then the good wouldn't be made and the service wouldn't be performed, and no taxes would be paid.
The FairTax wants to make this point when talking about retired people who would face huge price increases under the FairTax, but they want to say that it doesn't exist when talkign about the illegal economy.
It's know its a lot less than it would have been if he had been able to post his serial spewage to 400 old posts without any challenge.
0.23/(1-0.23) = 29.87% you misrepresenter of facts.
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