Posted on 01/31/2005 7:12:16 AM PST by bmweezer
First of all, I would propose to classify all monies coming into an individual as income. Investments, capital gains, interest, wages, compensation - anything coming IN will be classified as income. All incoming monies are income, all income is treated the same. That income would be taxed at a flat percentage, and that percentage would be the same for everybody. If Ted Kennedy pays the same percentage of income that I do, he still pays a lot more, whether he spends more than I do or not. If someone who makes less than I do has to pay the same percentage, they pay less, more fitting to their abilities. <
This makes far more sense to me. How about you?
I understand your response, but I also understand Conspiracy Guys' response to the article. For those who have even a slight familiarity with the FairTax bill, it is almost immediately evident reading the article that the author is not familiar with the FairTax bill. He has some imagination of what it must be and is attacking that, but it is clear he is either not familiar with the bill itself, or he is intenionally promoting a false representation to demonize.
Don't stand near an open flame. Pooooof!
not only does it replace the fed income tax it also replaces the payroll tax...
And, to top it off, Le Seigneur De Porc is a tort bar fanboy.
Now THAT'S credibility, eh?
I am all for tax reform, but I am torn between a Flat Tax or a National Sales Tax.
I like the idea of a sales tax because it forces everyone to pay. Even if you make money illegally (under the table, drugs, gambling) you still pay into the system.
On the other hand, I think a flat tax is much easier to administer.
Either one is preferrable to what is in place today.
And 50% of the population not paying income taxes now is not a "tax dodge"?
The original NRST idiocy had new home construction included - of course, at a 23% rate, there would be no more 80% financing,because no bank would be willing to cover a loan with an appraisal that far under loan value.
Does current home values, appraisals, sales price, and mortgage loan to value calculations exclude the already imbedded taxes that approach 30%?
You can take those out of the mix, but what does the necessary increase do to the business of financing and obtaining new furniture, linens, and other household goods?
Neccessary increase of what? What is being increased?
This one line says it all. It's ok that that 5% of the people pay 85% of taxes (actually the percentage of taxes paid is higher than that) but level the playing field and suddenly he's "subsidizing the likes of Kennedy and Gates!" This boob is so muddled, confused, contradictory, and flat out wrong throughout that it's embarassing to read.
While I strongly prefer the NRST, I wouldn't stomp my feet and pout over a flat tax, either.
All I want is LESS TAXATION and LESS COMPLICATED TAXATION!!
So we are so well off with the current tax code? The current tax code is responsible for the strength of the American economy?
Your supercilious insult argues against you; your position that the current tax code is GOOD for America seals the deal--you think the current tax code promotes production and consumption? What were you, born in France?
And it's quite clear that neither you nor the author of the article have read anything on the NRST, as it has been proposed.
So the consequence is that government would have to go on a diet.
That think that's bad?
That's good to hear.......but again, they are still arbitrary in nature.
Please understand, I'm not rejecting the idea, nor am I being a troll........just asking questions. I'm all in favor of any proposal that will make positive changes and rid us of the behomoth that is the current tax code.
You're using the Brookings Institute for your analysis?
Zee Kittens.
As I've said before, throwing the bomb of a consumption tax into a consumption based economy is practically uncharted territory. Given the gooberness of the guys who've been feebly researching but boisterously propagandizing this over the years, I can say that the utopian conclusions and mutual back scratching haven't helped the clarity.
That all being said, do you think that people will make their old toaster and towels do rather than spending more for a new set? Repair and recover furniture rather than buy new stuff? Engage in an orgy of new spending on household goods and other taxed items immediately before the tax comes into play, thereby keeping their budgets down for years to come? How about cars and new houses?
Do you really believe that retailers will drop their prices, or will they behave as always?
I'm with you.
I am learning a tremendous amount on this thread........and I appreciate the information I'm getting.
Gabz, not only does it reduce government spending, it reduces compliance spending. Consider what it costs business today to comply at EVERY LEVEL of production with the current tax code--and consider that we turn our lives over to the current tax code every April 15th--getting the government out of our pockets is the LEAST of the benefits...
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.