Posted on 11/07/2004 2:07:53 AM PST by FairOpinion
An official says all provisions will be examined by a reform panel. Many experts think Bush will favor a piecemeal approach.
As the White House prepares to name a blue-ribbon panel on tax reform, the labyrinthine U.S. revenue code could face the first top-to-bottom rewrite since President Reagan closed loopholes and slashed income tax rates on a historic scale in 1986.
"This is a fundamental look at the entire code, every component of the code," a senior administration official said late last week. "Nothing is off the table."
"Simplification would be the goal," Bush said Thursday during his first postelection news conference. "The main thing is that it would be viewed as fair … that it wouldn't be complicated."
"They'll be looking at the whole thing with three principles in mind: The fundamental reform should be more fair, more simple and more growth-oriented," the official said. "That's their marching orders."
(Excerpt) Read more at latimes.com ...
You mean therare no dishonest businessmen? Why does the IRS exist anyway since everyone pays their fair share without dodging any laws, right?
Now THAT'S a Bush book-burning I'd pay money to see.
An impossibility as long as a Democrat walks the face of the earth!!!
Have you never heard of Whitewater? Not so obvious (at least to the Democrats).
The IRS has bred dishonesty since its inception. The withholding system is a "taking" of wages, something the Founders had no intention of doing. Only profits were supposed to be taxed, and wages ain't profit.
The record keeping and IT infrastructure is already in place.
You can't evade a state sales tax, any more than you can evade a National Sales Tax.
Although I would love to see us TAX consumption and not production, it ain't going to happen in my lifetime.
What do you mean I can't evade a state sales tax? I do it everytime I order from out of state. According to the law, I am supposed to determine the Texas sales tax on the item and then remit it to the state when I get the merchandise. No one I know actually does this.
Do you know there are several Mexican-family owned restaurants and food stores where I live and they don't charge sales tax on their sales? I was even in line once with a local policeman buying a breakfast burrito and nobody seems to notice or care that they don't charge a tax on it even though it (or anything else they sell) is a prepared food item that should be taxed.
So you would have a agency larger than the IRS monitoring every retail sales transaction and auditing every sales slip for fraud.
Ever paid a state retail sales tax? Same folks administering that will be administering the NRST in parallel with their own taxes.
Sounds worse than what we now have.
Lets see IRS and the income/payroll tax system going after everyone:
"A hand from Washington will be stretched out and placed upon every man's business; the eye of the federal inspector will be in every man's counting house....The law will of necessity have inquisical features, it will provide penalties, it will create complicated machinery. Under it men will be hauled into courts distant from their homes. Heavy fines imposed by distant and unfamiliar tribunals will constantly menace the tax payer. An army of federal inspectors, spies, and detectives will descend upon the state."
-- Virginian House Speaker Richard E. Byrd, 1910, predicting the consequences of an income tax.
versus
me the customer paying a retail sales tax to a business, from whom the tax is collected and administered by the same folks doing that job now in parallel with their own retail sales taxes, the sales tax authorities of the states.
I know which I prefer, I know what hoops and jumps are required for the income and payroll taxes both individually and as a business.
I also know what I have to do regards the state in remitting state sales taxes collected from my customers.
No contest. Besides the NRST also compensates me for the collection and remission of that federal tax, something the current tax system fails to do. I won't have tack on extra to my prices to cover the costs of complying with the NRST and I realize a tremendous drop in costs related to the business side of income and payroll taxes.
Sorry you are barking up the wrong tree there. FC
I'd rather have a republican writing tax laws.
For instance, wholesale suppliers and logistics companies.
wholesale suppliers and logistics companies neither collect nor remitt the NRST with respect to their normal customers, other businesses.
The transport and distribution areas would be subject to pilfering for sale on the black market,thus tax free. Thats human nature.
So it is today, no difference. Theft is still theft my friend. That's human nature to, especially when one obtains more than 40%+ advantage out of the income/payroll taxes through illegal unreported trade.
The the NRST only provides a piddling 23% return at maximum for such shennanigans. Lower profit, higher risks of getting caught, you figure the percentage in that. Such activity is hardly going to increase dollar volume over what is happening today under the income/payroll tax system.
I do it everytime I order from out of state.
Slight difference with a National Retail Sales Tax, it is collected at point of sale and everyone pays the same in every state. Ordering out of state is not going to gain you anything at all.
I ordered a watch from Norway once. Are you going to collect sales tax overseas?
Do you know there are several Mexican-family owned restaurants and food stores where I live and they don't charge sales tax on their sales?
What's their dollar volume as compared to WalMart?
Over 80% of the dollar volume in retail sales is done by less than 20% of businesses. The big don't put their business at risk by not collecting a tax from a customer. That is especially important under the NRST, those business' income and payroll taxes are repealed achieving subsantial cost reductions not only in the tax not being paid through those mechanisms but the overhead costs of complying with and fighting the IRS go away as well.
The net result is total paid by the customer (NRST + shelfprice) can remain essentially the same as it is today and the business ends up actually being more profitable.
Nope, that ma & pop store probabaly evades the income/payroll taxes as well under the current system. Same ole Same ole under the NRST. No increase in dollar amount evaded.
First I want you to imagine the things you purchase for your daily existence, at any given time.
Then, think about another source for those items, which you would not pay tax on.
Where are you going to buy gas without paying a sales tax?
Where are you going to get bread and milk, butter, popcorn, canned goods, Pepsi, GatorAde, peanut butter, toothpaste, aspirin, baby powder, whatever, without paying a sales tax?
How do you know the Mexican resturant has not paid the sales tax, just because they don't break it out on the sales check, doesn't mean they aren't paying it when it's due.
But the main point you're missing is that the first $35,000 or so is exempt, as are neccessities.
I ordered a watch from Norway once. Are you going to collect sales tax overseas?
How much of that nation's taxes were you hit for? Their business and individal taxes hit over 50%.
OTOH:
H.R.25Fair Tax Act of 2003 (Introduced in House) Section 101(c) COORDINATION WITH IMPORT DUTIES- The tax imposed by this section is in addition to any import duties imposed by chapter 4 of title 19. The Secretary shall provide by regulation that, to the maximum extent practicable, the tax imposed by this section on imported taxable property and services is collected and administered in conjunction with any applicable import duties imposed by the United States. |
You apparently have never bootlegged government liquor.
The same conditions exist. I was referring to the workers involved in the logistics end of the manufactured goods.
If someone wants to steal, they'll steal...I was just pointing out areas of weakness in the system. The human factor.
And trying to argue a point with FP.
I want this system rat now, and I don't mean rat like in mouse.
I know, merely pointing out that employee theft will occur regardless. Remember under the NRST, they end up with ~30% more money with which to legitimately buy the same thing at the same cost.
Less incentive, for the risks taken in theft even under an NRST as compared to the income/payroll tax system.
I can get all of that without any sales tax at my local AAFES BX/PX. Are you going to deny me and other active duty/retired veterans that small benefit too?
You pay income taxes do you not? Not to mention the fact you also pay the business taxes embedded in the prices of those product purchased in that local local AAFES BX/PX.
The NRST is a replacement for all those taxes. Not addition to them.
I'm a veteran and would have to pay that NRST, and I don't expect to live in this nation free of all federal taxation. Why do you expect a free ride?,/b>
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