Posted on 01/07/2005 8:08:18 AM PST by Melpomene
You're on the pinger ;O)
It is amazing how many people are willing to give a no interest loan to the feds and then get all excited when they get it back.......clueless.
Tax-u-phoria: The feeling one gets on receiving an tax refund check, until they realize it is their own money to begin with.
Thank-you. The questions I'm getting refer to renters vs. owners. I haven't seen anything on the fairtax site referring to it. Do you have anything? Thanks in advance.
I have several beefs with the current system and IRS:
1. It promotes layers of taxation= for instance when you pay gas tax with net after tax money the cost is multiplied by the tax bracket.
2. We should not have to tell the government every detail of our income in a free country.
3. They should not use SS numbers for ID in tax system, only for the retirement plan and they should do away with that too. Its not Constitutional
4. IRS is an economic Gestapo.
5. Our economy is being stifled by the current tax system. A National Sales Tax will not cost much to implement and there is no paperwork for the consumer. Billions will be saved in paperwork and accounting and legal fees alone, not to mention the additional billions for record keeping at corporations.
6. Savings will increase without the current system.
All in all our economy will boom beyond anyone has seen in the history of the world.
The questions I'm getting refer to renters vs. owners. I haven't seen anything on the fairtax site referring to it. Do you have anything?
Only for homebuilders as a business, impacts on mortgages and bonds,and home buyers.
The bill itself states all rent and lease payments for non-business use of property is subject to the NRST, and any property converted to a business asset will have prior NRST credited back to the property owner on a prorata basis as rent is received to prevent the cascade of NRST that might otherwise be embedded in the price or rent of goods and services.
As far as any fairness issue, fundamentally all consumption is to be taxed, but only once to prevent tax cascading in price. A rental for a person to live in a home is treated no differently from any other consumer service business, all consumer service is taxed under the NRST.
For everyone that is a legal resident the FCA demogrant compensates for NRST on the HHS povertylevel of expenditure (currently the NRST rate * $774/month consumption expenditure), which pretty much assures that the low income renter has relief without using the artifice of special exceptions in the legislative provisions of the bill.
For a thumbnail sketch of the national retail sales tax, aka Fair Tax, visit http://www.fairtaxvolunteer.org/smart/sketch.html
Thanks. OK , this doesn't satisfy. I will dig deeper.
"5. Our economy is being stifled by the current tax system. A National Sales Tax will not cost much to implement and there is no paperwork for the consumer. Billions will be saved in paperwork and accounting and legal fees alone, not to mention the additional billions for record keeping at corporations."
Well, yes but what will all those un-needed govt. IRS employees and lawyers do then?
I don't know what percentage we need for the NST. I think 23% sounds high. But, by eliminating SS and totally privatizing it, we could probably get down to a more reasonable 10%, especially if we started cutting unconstitutional spending like the Dept. of Education, HUD, HHS etc.
They could join the military or the TSA.
Lawyers will never be without work. Accountants are needed in other areas. Why pay people to do work that is totally unproductive, restricts progress and hurts the economy?
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