No time to discuss this in a committee!
Posted on 01/07/2005 10:18:11 PM PST by politicalvanguard.com
President Bush yesterday appointed a commission to think of ways to simplify the federal tax code, giving it until July 31 to report its ideas. "A simple code will make it easier on the taxpayers," Mr. Bush said after meeting in the Oval Office with the chairmen of his commission, former Republican Sen. Connie Mack of Florida and former Democratic Sen. John B. Breaux of Louisiana. "These fine, distinguished citizens will be taking a good hard look at the tax code and coming up with recommendations as to how to make sure the tax code encourages economic vitality and growth," he said.
(Excerpt) Read more at washtimes.com ...
Very happy to see this When will the President, Secretary of State and a herd of Congressmen and Senators take a trip to check out our Out of Control Borders and start building some walls and fences to protect this country and fulfill their Constitutional Vow!
Every country in the World can count on the Protection of the United States, except the United States!!
How long will it take for Breaux to be maligned by the left? They wasted no time doing the same to Moynihan when he was appointed to the Social Security commission. They learn quickly what it is like to be Republicans.
I respect your passion on the subject and agree it is a troubling issue, but would it be possible, for once, to actually discuss the issue raised by the article? Thanks.
What's there to study! The whole thing is a joke and it's not about to be changed unless it's a crumb or two. Just stop the "income" tax and go to a nationwide sales tax. Could be done overnight.
If that socialist pig Charlie Rangel says the committee is "closed-minded," I'd say it's off to a fine start.
They are going to look into everything, including that option.
They won't go for it of course, but it would be nice if they would. I hope we can contact the panel with our comments whenever they get set up here soon.
Has anyone looked for e-mail addresses for this Group? Think of the horror stories, We could provide & document.
Could be of interest to the pinglist.
White House launches new initiative to overhaul tax code
Executive Order President's Advisory Panel on Federal Tax Reform
President names Mack, Breaux to lead group seeking ways to reshape code
A Taxreform bump for you all.
If you would like to be added to this ping list let me know.
John Linder in the House & Saxby Chambliss Senate, offer a comprehensive bill to kill all income and SS/Medicare 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 & http://www.geocities.com/cmcofer/ftax.html
I am concerned by how the sales tax would affect retired persons. They are living off of their savings, on which they presumably have already paid income taxes. Now, they retire and no longer have income and then the income tax disappears and they are slammed with a sales tax. Other than that I like the sales tax idea because it hits people who are engaged in illegal activities, plus it encourages saving.
This is only a guess, but I think some kind of discount, based on age, could/would be applied to the purchaser.
No time to discuss this in a committee!
That's the big gag! They're affected already! Corporations, etc pay income taxes now and pass the cost on to the customer, which includes your precious old farts.
I applaud the president for doing this. I personally hope that we do go to a national sales tax of some sort (though not a VAT), remove the income tax entirely, and repeal the 16th Amendment.
And the president has it exactly right: the current system is fantastically expensive. It wastes tremendous time and money on non-productive and even detrimental activities. A national sales tax, while it has its own downsides, I think is superior on most fronts. If there an obvious perfect solution, then I think we would have found it by now; my thought is we go to the least bad of the lot.
Not necessarily. The vast majority of retirement savings is in 401(k) and traditional IRA's. No income tax has ever been paid on that money. The fair tax would allow seniors to take money out of those accounts TAX-FREE! That would be a boon to most seniors, a big boon.
The fair tax would allow seniors to take money out of those accounts TAX-FREE!
I might point out penalty free as well, as the section of the tax code governing IRAs & 401ks gets repealed right along with the rest of the income/payroll tax code.
Under the Fair Tax Act, HR25 savings/investment is tax free, without restriction. Only time the NRST is collected is on purchases for consumption thus re-invested returns are untaxed until withdrawn and actually spent for consumption or use.
Correct. The benefit also goes to those under the age of 591/2 who are still in the penalty phase.
Something else that hasn't been mentioned on any of these threads: If seniors want SS saved they should certainly want this country to create enough wealth to save it. A fair tax would be the first thing to do in that regard.
Think of the consequences if America adopts a tax system which is designed to send a monthly government check to every household in America. Does it not create another factious voting block with a very real interest to vote for socialist members in Congress who promises to increase their monthly family consumption allowance?
Is this not now self evident as applied to our nation’s elderly on social security who cast their vote based upon a monthly check given to them by government? Is this not also true of working people who now earn a federal guaranteed minimum wage, who cast their vote on the promise their minimum wage guarantee will be raised by socialists in Congress?
Have we not taken note of the wisdom spoken by our Founding Fathers, that : “A POWER OVER A MAN’s SUBSISTENCE AMOUNTS TO A POWER OVER HIS WILL.”? Federalist Paper 79
Are we too ignorant to see the danger of faction in a tax plan offered to us which flies in the face of the principles under which our founding fathers labored to remove the effects of faction?
Why is it that those who promote tax reform ignore the wisdom of our founding fathers original tax plan, and are delinquent in advocating a return to it___ a plan which helped to pave the way for American to become the economic marvel of the world?
Surely there is a need for the people of America to remove themselves from the iron fist of government which controls them through a despotic system of taxation and makes the people the servant of folks in government. But is the so called Fair Tax the answer? The old saying goes: if it sounds too good to be true it probably is!
I suggest those who are sincerely interested in tax reform, and will actively participate in the promotion of tax reform, compare our founding fathers original tax plan to the fair tax, or any other proposal which may be offered, before making a commitment to any particular proposal
. See: Neal Boortz supports Fair Tax proposal? for an excellent defense of our Founding Fathers original tax plan.
Sincerely,
JWK
ACRS
I have been told there is a problem in our nation…Johnny can’t read, but as I see the problem, it is that Johnny can read but won’t.---.Edward A. Ellison Jr., J.D
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.