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 ...
No, he's actually a salesman PRETENDING to be many other things as required for his arguments from time to time.
Sorry Charlie.
No kidding???
You are either too stupid to understand the difference between the two numbers, so it is pointless to try to educate you (since everyone else who has been keeping up already understands what these two different numbers represent)
OR
You already understand but are just trying to pick an argument trying to attract stupid people to your cause, hoping that what you are saying will make sense to them.
In either case there is no use in explaining this to you for a hundreth time.
OK. Under the Fair Tax, NOBODY pays income tax. Not you, not the drug dealer.
Just don't say that we will get MORE from the drug dealer under the Fair Tax. We won't. We'll probably get about the same as we do now.
The only way we'll get more money from the drug dealer is if he adds the Fair Tax to the price of his illegal drugs and sends that money to the federal government. I'm not holding my breath on that.
As of post #927, it was 211. That's 23% inclusive.
Indirectly he is. If you broke down that $500,000, you'd see that some of that money was to pay corporate income taxes, payroll taxes, payroll withholding, etc., and all of that went to the federal government. It averages around 22%, more in some industries, less in others.
If the lawyer buys that BMW today, he pays $11,500 in hidden taxes. Under the Fair Tax he would buy the BMW as a business expense and pay nothing.
Here is how Boortz explains it:
Some of you reading this amplification of the principle's of the FairTax may have come to a rather interesting and accurate conclusion. The reality is that in America we're already operating our federal government off a consumption tax. A convoluted and impossible to understand consumption tax, but consumption tax nonetheless. We say this because ultimately all taxes paid by businesses or individuals eventually make their way through our economic system until they are embedded in the cost of some consumer item or service. In other words, taxes, like that other stuff you've heard about, roll down hill. At the bottom of that hill we find the retail sale and you, the ultimate consumer.
A company (corporation, lawyer, accountant, consultant, plumber, whatever) purchases a new BMW (with tax, $65,000) for $50,000 tax free as a legitimate business expense. They drive it for a year, put on maybe 5,000 miles, then sell it used to a private individual for $55,000, again tax free. All legit. All above board and documented.
The company actually profits $5,000 and the buyer saves a net $10,000 by not paying the Fair Tax.
This could be a whole new industry. Not only cars, but office computers, fax machines, copiers, furniture, TV's, coffee makers -- anything a business uses. The company may actually make more money this way that selling whatever they sell.
LOL!! Are you sure that wasn't exclusive???
Others of your ilk say that the 20-25% embedded tax things is WAY too high. Why don't you consult with your own "experts" and decide upon what you're going to claim???
He did write (at the request of a publisher) a NYT #1 best selling book called The FairTax Book that's available in both hardcover and paperback. That's sort of like the "... I DID stay at a Holiday Inn Express last night ..." TV advertisement.
Any labor intensive industry such as the service sector (cleaning services, lawyers, accountants, consultants, etc.) is high -- hell, you're paying 15.3 percent in FICA alone.
Of course all of those fanciful schemes are illegal and with the FairTax there is a much better chance of being detected in that sort of defalcation (more audit resources concentrating on fewer points) but - by all means - GO RIGHT AHEAD! You can both share the same jail cell with Bubba.
My scenario was completely legal and above board.
"... In some industries, it is high. In others, it's low ..."
Get back to us when you can settle on a number.
... and hell, the 15,3% FICA for your lawyer unrealistic example goes to the benefit of the lawyer, not the illegal guy ... he only paid $14,000 in income tax remember. Under the FairTax, the lawyer would have paid much more than that to the government as I showed earlier - or maybe you forgot?
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