[Man50D]

Fair Tax ping!

[Dr. Sivana]

I am undecided about the fair tax. Someone did bring up the question concerning how you do the changeover. Lots of people who have made major financial decisions based on the current system could be ruined over night through no fault of their own.

[aimhigh]

Even a fair tax has to have someone to collect it, which means the IRS remains.

[Republicus2001]

Has Wesley Snipes been sentenced yet?

[elizabetty]

Never.
Gonna.
Happen.

[Always Right]

The greatest benefits of tax reductions under the FairTax, according to respected economists, accrue to low income taxpayers (an average 14% reduction) then to the middle class taxpayers(an average 7% reduction) and then even to the wealthy (an average 5% reduction). How can this be and still raise enough revenues to replace all taxes now collected under the income tax system?

It can't and it won't.

[longtermmemmory]

ping

[xcamel]

same old same old

[Raycpa]

I found a mascot for the Fair(y) Tax

It is magic. Taxes, the IRS, fat, baldness, and bad breath all magically disappear.

[robertpaulsen]

"the taxpayers base is dramatically broadened under a consumption tax by bringing in illegal immigrants, as consumers, and the $1.5 trillion annual underground economy."

The only way the Fair Tax will bring in more money from this group is if this group collects and forwards the Fair Tax on their goods and services.

For example, the drug dealer will have to add 30% to his drug prices and forward that money to the government. Ditto the prostitute.

Now, they don't file a 1040 today. I doubt they'll register a collect the Fair Tax tomorrow.

[rrrod]

I am in favor of the Fair Tax plan but unfortunately because the huckster has adopted it we may never see any reform.

[gondramB]

>>The greatest benefits of tax reductions under the FairTax, according to respected economists, accrue to low income taxpayers (an average 14% reduction) then to the middle class taxpayers(an average 7% reduction) and then even to the wealthy (an average 5% reduction).<<

I am just so impressed with this Fair Tax thing - it raises more money but lowers everybody’s taxes!

Heck its like free money falling out the sky.

[Petronski]

“Doing away with the Internal Revenue Service” is such a ridiculous lie.

Some government agency is going to be necessary to collect revenue, no matter how the amount of revenue due is calculated.

And if a sales tax is instituted without repeal of the 16th amendment, we will end up with a sales tax AND an income tax.