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 ...
And we also know the size of the loan he had to get from the bank to pay for the car and 100% of the FairTax. Probably about $65,000. At least $59,000 and change.
Your effective rate calculations are blather without having an accurate FairTax rate determination, and the 23% in the bill isn't accurate. Not even close.
LOL!!
But in addition to the 90K taxable filed by the lawyer, the drug dealer made 3.2 mil.......TAX FREE.Except the drug dealers 3.2 mil was from after tax dollars...that wouldn't be the case with the fairtax, it wouldn't be taxed untill he spent it...and don't forget his prebate which lowers his effective tax rate too.
And the fairtax plan would be an incentive for more illegal activity including finace fraud too because it would be a bonanza for money laundering...you know because it's no body's business where your money comes from and you don't have to report it.
And I live on the same planet you do and know of no one who stops to think what the "price plus tax" amount is today as part of their buying pattern. Actually, posting tax inclusive prices would be very helpful. When you see a $429 tax inclusive weekend offer from a resort you can tell immediately what the price of that weekend will be. If we were under the FairTax, you'd actually be paying a cost of LESS THAN the $429 since your effective tax rate would actually reduce the cost from the stated tax inclusive price of $429.
In addition, you wouldn't have to earn, say, $572 (if your effective income tax rate were 25%) to have your "$429" resort weekend. With the FairTax you'd have to earn $429 ... and you'd actually have money left over since your effective tax rate would reduce your cost well below $429.
Good point. The drug users already paid tax on their income and had $3.2 mil remaining to spend on drugs.
Hmmmm. With illegal drug prices remaining the same and with disposable income increasing 20-25%, why, the drug dealer is going to have a field day!
You're missing the point. There may be imbedded taxes on everything that the drug dealer buys but the drug dealer doesn't pay ANY taxes on his earned income.
Under the present system, people that don't declare or have earned income, do not pay federal taxes, so the rest of us have to pay his share and that ain't Fair.
But, everybody buys stuff, so, under the FairTax, everybody pays for the federal government. That's Fair.
Why do you people resist the abolishment of income taxes? Are you a tax accountant?
It's not really too hard to figure who those might be with a lot to lose when the income tax goes away ...
There may be imbedded taxes on everything that the drug dealer buys but the drug dealer doesn't pay ANY taxes on his earned income.
And under the FairTax, he still wouldn't pay any FairTax on the transactions that generate his income-- drug sales. So this part of it is a wash.
But, everybody buys stuff, so, under the FairTax, everybody pays for the federal government. That's Fair.
The point (again) is that we are all paying these embedded taxes now on everything that we purchase, so under the present system we are all paying the Federal government.
Are you a tax accountant?
Typical FairTaxer comment, impugn the motives of anyone questioning the viability of the plan. Your allegation is not worthy of a reply.
That's another great thing about the FairTax. It's voluntary!
With the income tax system, the gubmint is stealing 30% right off the top from every paycheck and there ain't a damn thing that you can do about it.
But under the FairTax, if you don't want to pay any taxes, don't buy anything.
And you missing the point. Under the fairtax it is still that way. When the drug dealer recieves $100K for his drugs he will not send the government $23K for sales tax like he legally should. The drug dealer is still not paying anything on his gross receipts, but only when he spends. The drug dealer is still cheating the fairtax system just as he does today. Legal purchases causes taxes to be paid, illegal transactions avoid taxes. The fairtax is doing nothing to capture the illegal economy.
Why do you people resist the abolishment of income taxes?No one I now of is reisting the abolishment of income taxes. We're just resisiting a bad plan built on a house of cards being sold with lies, hope, wishful thinking and conjecture.
If your price numbers WERE correct and the taxpayer had to borrow $59,000 (???), he'd be paying a lower interest rate due to the FairTax and it would help lower his effective FairTax rate as well.
Money laundering today doesn't appear to be too greatly hampered by the income tax laws ... but those laws DO impinge greatly on other legal individual taxpayer liberties.
You may need to hire a one-armed economist to help you make up your minds.
LOL!!!
That is a correct statement.
Under the present system, he doesn't pay any income taxes. So he takes his 3.2 million tax free dollars and buys a yacht for $500K, but you guys think this is Fair and OK because there are embedded taxes on the boat. But the drug dealer ain't paying them!
Under the FairTax, drug dealer pays. So do 12 million illegal immigrants that don't pay any income taxes.
In addition, no more April 15th deadlines, no more filing cabinets full of past tax returns (just in case you get audited), no more audits, no more fines and penalties, no more trips to the tax accountants office, no more time spent filling out indecipherable forms and on and on and on.
Ah Ha!!!!
So, you ARE a tax accountant!
The illegal guy's consumption generates very little in the way of tax revenue as has been shown many times since income tax is paid only on the profits generated/reported by the business. This amount will typically be much less than the amount paid for consumption under the FairTax.
Even the hypothetical "lawyer" example given earlier only contributed $14,000 in income tax (the FICA went to the benefit of the lawyer) while had the same consumption been under the FairTax, the price would have included $26,883 rather than $14,000.
The fact that you don't understand the difference just shows how little you understand what is being discussed around you.
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