Posted on 12/01/2004 8:25:22 AM PST by Tumbleweed_Connection
...President Bush and House Speaker Dennis Hastert (search) have both said the idea of a national sales tax deserves a serious look. For many, the idea of a world without the Internal Revenue Service is very seductive.
"We spend about $400 billion a year complying with the tax code. We spend $200 billion a year just filling out IRS paperwork," said Rep. John Linder (search) , R-Ga., who has proposed a bill that would create a national sales tax.
Proponents have spent millions on research and have concluded that a national sales tax can replace the income tax, payroll tax, estate tax and corporate tax. Advocates say the new tax would lower the cost of manufacturing and job creation and attract foreign investments, among other things.
"If we were to get rid of the sales or the income tax and the payroll tax and all compliance costs, we would be so ferociously competitive in a world economy that corporate America would not be competed with unless foreign corporations started building their plants in America," Linder said.
Proponents seek a 23-cent national sales tax on all retail goods, everything from groceries to clothes, cars to electronics. Everyone would pay the same rate, which critics argue is part of the problem.
"If you consume $40,000 a year and you make $50,000 a year, would you feel it is fair if a guy who made a half a million dollars a year but spent $40,000 a year paid the same tax you do? I think you wouldn't feel it's fair," said Buck Chapoton, former assistant treasury secretary.
(Excerpt) Read more at foxnews.com ...
So why is this better?
So why is this better?Maybe you misunderstood me. You don't pay taxes on those things directly. But, for example, when you take your inheritence and buy something, you will be taxed. You can do all the investing and saving you want, tax free. You are only taxed on what you consume.
I'm sorry.
I'm sorry.I should have been clearer.
That isn't entirely true.
There would be a tax on any (if any) services or fees connected to the investing and or savings AND there could be taxes on some interest earned and or paid as well.
(see HR25 SEC. 801. DETERMINATION OF FINANCIAL INTERMEDIATION SERVICES AMOUNT )
You had me concerned.
Freeper FairTax proponents are but one small corner of a much larger movement. There's no way you and YN can thwart this small patch of FairTax supporters and certainly not the much larger number of FairTax proponents spread across the Internet..
You are wasting time spinning your wheels. But don't quit. Instead, work smarter. It would be much more efficient and effective for you and YN to focus your time and energy on the 535 members of congress. You don't have to convince all of them that passing HR25 would harm the economy, increase the price of products and services and cause great financial hardship for many people.
You should take the superior knowledge you think you have regarding economics, taxes and the FsirTax and create a study that you can take to the members of congress in order to stop them from making a horrendous error If the facts back up your claims you owe it to yourself and every American to stop congress from passing HR25. Stop them from enacting the FairTax that eliminates all income and payroll taxes while abolishing the IRS in order to replace it with a national retail sales tax. You'd be one of the great American heroes.
I can barely believe I wrote that. Who do I think would be fooled by that?
We've read Dr. Dale Jorgenson's biography at post 412. He has earned his stellar credentials. What have you got? I've seen nothing but your assertions juxtaposition to Dr Jorgenson's decades-long work-product.
You dismiss Dale Jorgenson as just a hired economists. The man could run economic, tax and statistical circles around you blind folded. And you know it. On the far outside chance you don't know that then you've got a real problem or disability that prevents you from making rational evaluations.
In final analysis, sadly, you're just another hand-waving pipsqueak.
Excise taxes, tariffs on trade, and taxes on profit.
Trying to get caught up here, guys, bear with me...:)
We've read Dr. Dale Jorgenson's biography at post 412. He has earned his stellar credentials.Maybe you could show me where he says consumer prices will drop by 22%.
Man that was the best post ever. PERFECTO...
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