South Carolina Ping List
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Shame on DeMint, trying to raise my taxes by 23%. Inez told me so :)
Posted by upchuck, trying to live up to the Swampmeister's standards for a week or so.
Hey, the Socialists want people to think that we need that tax to pay for the draft and more Halliburton contracts.
Neal is depressing me - he keeps predicting a Kerry win...
His full-color (mailout) ads claim that his Repub. opponent wants to tax everything Texans buy --but he doesn't mention anywhere that this is a proposal to eliminate the national income tax! (Texas has no state income tax...)
Da*n Dims flat-out lie -- and think everyone is too stupid to catch them at it! :-(
Thanks for posting this! Since I have seen this addressed nowhere in the news, you saved me from having to post one of those dreaded vanities myself...
JimRob: A significant number of the "Vanities" posted lately have been, in reality, genuine un-published news items. True, there are too many actual "Vanities" -- but, is there some way we FReepers could post unpublished or strictly local news items... without calling them "Vanity"? (If nothing else, could we label them "[UPN]" or something...?)
Fair tax ping.
Can one of you better explain the process of eliminating the income tax. Is it, as Neal claims, calling for a repeal of the 16th? I thought that any constitutional amendment could not be linked to other legislation.
The only legitimate argument against HR25 that I see is the risk of being taxed by both systems. I know this is considered a replacement tax, but without the repeal of the 16th the risk still exists......
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John Linder in the House & Saxby Chambliss Senate, offer a comprehensive bill to kill all income and payroll taxes outright, and provide a IRS free replacement in the form of a retail sales tax:
H.R.25, S.1493
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.Refer for additional information: http://www.fairtax.org & http://www.salestax.org
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Shame on DeMint, trying to raise my taxes by 23%. Inez told me so :)
Posted by upchuck, trying to live up to the Swampmeister's standards for a week or so.
Sheesh, Notch! You mean I won't have that $78 Medicare premium deducted from my Social Security check anymore? I'll get Medicare free? (It's only $67 now, but it's going up to $78 next year).
Forgot to mention that the "fair tax" sounds a helluva lot more complicated than a 1040 to me!
The Fair Tax (HR-25) would eliminate all personal corporate and personal federal income taxes. It would eliminate all federal payroll taxes, including Social Security and Medicare. The Death Tax ... gone. Capital gains taxes ... gone. Gift taxes ... gone. Excise taxes .. gone.
There's that 22% in imbedded [sic] taxes buried in the cost of all consumer goods.
This isn't my figure; it comes from respected economists.
Let's pull out the calculators. Let's say that a single mother with two children spends $45 a week on groceries. The removal of the 22% embedded tax would bring the price of those groceries down to $35.10. The sales tax would be $8.07. This brings the total price to $43.17. That's less than our poor mother would have paid under today's tax system.
1) what is the plan to disassemble the IRS? I've yet to see that. Until everyone on the IRS payroll have been fired as legal pick pockets, FairTax is only AnotherTax.
2)So no instead of only the poor and elderly getting a monthly entitlement from the government, now everyone will! What good will come of that? None! People vote for their entitlements. People who don't have entitlements are considered conservative.
3) The proposal is that NEW goods and services are taxed. People will start buying used cars and garage sale microwaves which are not subject to this exhorbitant tax. This will put every business out of business except the secondary market.
4) The burden of paying this tax is on the purchaser. Does this mean we have to save every receipt to prove we paid the tax? If a business can't prove that the tax was collected on something I purchased from them, then can the feds comes after me to pay the tax again if I can't produce proof that I paid the tax?
5) No matter how you cut this, it is a 30% tax, not a 23% tax. The tax is calculated on 23% of the total sale price of the [new] product or service. Since the sale price is inclusive of the tax, for instance an item that cost $1.00, the price has to be marked up to $1.30, not $1.23. Right now at my state's 5% sales tax, a $1.00 item is a total sale price of $1.05. The tax is added to the sale price. Not so with FairTax. The 23% tax is figured into the gross sale price. So a $1.00 item is now $1.30. 30 cents is 23% of $1.30. You can turn that sideways and longways but it is still a 30% sales tax.
Convince me otherwise! :-)