"Will be" without clear statutory wording doesn't get it for me. 
Posted on 06/16/2004 2:43:47 AM PDT by SmithPatterson
Collins Calls for Bold Action to Reduce Tax Burden On American Workers
WASHINGTON, D.C. (June 15) - The day after the House Ways and Means Committee approved H.R. 4520, the American Jobs Creation Act of 2004, Georgia Congressman Mac Collins, a member of the Committee, called on Chairman Bill Thomas to hold hearings to discuss replacing the current tax system with a consumption-based sales tax.
The American Jobs Creation Act of 2004 would replace the current Foreign Sales Corporation-Extraterritorial Income (FSC-ETI) benefit structure with a variety of tax relief measures designed to create new jobs and promote economic growth.
"While much discussion has focused on the real need to address European sanctions against American products, last night's debate on H.R. 4520 highlighted the increasing complexity of the tax code and the need for the Committee to consider alternatives to the current tax system. As a result, I am writing to request that the Committee hold hearings to study and discuss the merits of repealing the current tax code and replacing it with a consumption-based sales tax as embodied in the Fair Tax Act (H.R. 25), " Collins said in a letter to House Ways and Means Committee Chairman Bill Thomas of California.
In the letter, Collins expressed concerns that the American Jobs Creation Act will replace FSC-ETI with "provisions that will further complicate an already overly-complex and burdensome tax code that prevents Americans from being able to freely compete in Europe and in markets around the world."
"More than any trade agreement, removing this tax burden would free the American worker to compete in the global marketplace; and, before approving any new trade agreements, the (House Ways and Means) Committee and the Congress should act to dramatically reduce, if not remove, the cost of this tax burden on American workers, farmers, and manufacturers. Such action would bring about the investment that would create jobs now," Collins said.
Collins went on to say, "I believe that we must act to ensure continued access to the European market for Americans in every industry. While the Committee is taking action to this end, it is also in the Committee's power to consider and pass legislation that will better enable American workers to compete not only in the European market but around the world as well. It is my hope that the Committee will soon schedule a hearing to discuss the merits of how H.R. 25 can help us reach this end."
The Fair Tax Act (H.R.25), introduced by Georgia Congressman John Linder, would eliminate all income taxes, all taxes on capital gains, all payroll taxes, the self-employment tax, and the gift and death taxes. In the place of these assorted burdens on the American taxpayer, the government would impose a 23 percent sales tax on all retail sales of new goods and services.
The bill would also eliminate the complexity of the current tax code and would dramatically reduce the cost of taxation that prevents American workers in all industries from being able to compete in markets around the world.
The Federal government will continue to be fully funded, including Social Security and Medicare.
The Fair Tax has more co-sponsors in the House of Representatives than any other proposed fundamental tax relief legislation in Congress. And, for the first time ever, the Fair Tax has been introduced in the Senate as S. 1493 by Senator Saxby Chambliss (R-Georgia) and cosponsored by Senator Zell Miller (D-Georgia).
Which leads to the obvious question of what spending do you think will be eliminated first?! Ancient_geezer had a list of some likely candidates for extinction and the corresponding rate reductions.... maybe he'll post it again???
And why don't you just look at the legislatation? The information is readily accessible, or go to thomas loc and enter "HR 25". The info is out there-
In my opinion, we will indeed someday have a national sales tax. Right along side our current income tax.
I suspect that's the plan.
LOL, that must be why the NRST legislation repeals all income, payroll and gift/estate taxes, defunds the IRS, and requires the destruction of IRS tax records.
Obviously, just to make it easy to come back vote for & and impose the income tax again later. </sarcasm>
H.R.25Fair Tax Act of 2003 (Introduced in House) TITLE III--OTHER MATTERSSEC. 301. PHASE-OUT OF ADMINISTRATION OF REPEALED FEDERAL TAXES.
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"Will be" without clear statutory wording doesn't get it for me.
Yes. Take a look.
I don't doubt that the current legislation is written that way. I'm just saying I don't think it will ever pass, and at some future date, via different legislation, we will be saddled with a national sales tax to go with the current income tax.
Boggles the mind.
BTW, why don't you just look at the legislation??? Do you need a link?
No, you are capable of looking at the bill yourself. You don't want to though - you'd prefer just hammering the thread with your status quo preference.
I'd take the NRST as proposed in a second. I'll vote for the candidate who promises to support it. That being said, I don't think it stands a snowball's chance in hell of passing. Or is it really all up to lil' old me?
That's happening all over the country. And yes, it is up to li'l old voters like you and me.
Actually the progressivity on is lower for the NRST because the maximum marginal rate is much lower(23% NRST vs >40% income/payroll tax system), especially as high income earners generally spend less as a percentage of income on consumption and more on investment which is not taxed under the NRST.The difference in effective federal tax rates from the lowest 20% and the top 1% for the current tax system is 27.6 percentage points. My calclulations (based on a family of 3 using the average incomes from my source above and assuming they consumed the max possible) show that the lowest quintile would have an effective federal tax rate of -5.8%. The top 1% would have an effective federal tax rate of 22.9%. A difference of 28.7 percentage points.
HR2525 charged sales taxes on all new items and services, no matter what they were, but exempted used items (there are no used services). HR2525 placed the burden on retailers at the state level to collect and report the taxes, monthly and specified some renumeration for that "service" but gave no criteria or amount.
HR2525 placed a fixed level of social security that had to be kept up using a fixed rate of the collected sales taxes. HR2525 mandated that all states would collect the tax and no state would have a choice, and a federally controlled state level IRS would oversee the collections and punishments and report to a fed level IRS.
State level and fed level "IRS"s under the NRST has the same duties as the current IRS (collection of revenue and all that implies) except they will be restructured to enforce revenue law at the state level.
Each one of these provisions is a point where the NRST can go terribly bad, at implimentation or future legislation. In addition to Wolfies concern that we will end up with both a NRST and income tax, which is easilly done, regardless of whta the bill itself says.
At no time in the history of America has federal revenue activities ever ended up easy on the individual citizen. In all our history has revenue collection ever increased and never decreased the burden of the taxpayer.
Whatever rosy picture is painted, that will always remain the truth.
But Collins, who has had years to tout this, or even bring it up, while he has been wiling away the years in the political halls in GA and DC, didn't until this year. Why? Because of Herman Cain, the "outsider" in the senate race. Same goes for Johnny Isakson. Neither of them did anything about any spending, taxes etc until Mr. Cain came along and woke the people of GA up!
Rep. Collins actually said at a meet and greet in our county that "Its only pork spending outside of his district." My head nearly exploded. I then asked him about cutting spending so we could better pay for the WoT and veterans, and he hemmed and hawed and never answered me, but he did shake my hand real good.
Go Herman Go. We want to rock the boat in DC, and then have someone who will steer the boat!
Killjoy. ;)
The FairTax will control government spending by making all levels of government subject to the National Retail Sales Tax.
The 23% figure is used so it can be fairly compared to the current income tax, which is quoted in inclusive numbers.
Thanks for the bump!!!
BTTT!!!
p.s. Have fun with YN...
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