Posted on 01/31/2005 7:12:16 AM PST by bmweezer
Nope, just ugly ... and the pancake doesn't help.
I don't like the sales tax idea; I'm a Flat Tax person.
eastsider asked: "How is corporate sales tax assessed?"
You replied: You've got me........and I hadn't even thought about that when I mentioned a farmer.
There is no tax on business. The tax will only be on goods and services at retail.
Gabz, the bill that we are referring to is HR 25 (and S 25) -- The FairTax. The total bill is about 130 pages. Compare that to the tax code today of about 50,000 pages. There have been other sales tax plans, but none compare to the FairTax in fairness, simplicity, visibility, and Constitutionality. The website www.fairtax.org has a great FAQ section that dispels all of the uncertainty and confusion that the author of this piece has stirred. I am of the opinion that the author is not an uninformed idiot but rather, a deliberate liar trying to stir uncertainty and confusion.
Letting the government hold your money interest free prevents you from getting interest on it, should you save it, or buying things you want, should you spend it.
You want a concrete example, just look to your own comment earlier about Dr. Jorgensen. You quote basically a single section in a paper that has no founding or reference as gospel truth, and then use it to claim that the work of 7 independent economists and think tanks are therefore bogus.
The plan has merit and flesh, the article posted lacks same. The plan removes all the reason for and incentives behind all the cheating that happens in corporate and personal taxes. I fully back the Fair Tax approach.
The plan needs to have some flesh on it before we can even debate it's merits. And merits we argue now all depend on how the plan is proposed, which it hasn't been yet.
The Fair Tax Plan(HR25) has been in legislative form before congress since 1997. Has gone through extensive research, debate, modification from public and Congressional input and now looks like the legislation sponsored by John Linder in the House(HR25) & Saxby Chambliss Senate(S25), to kill all income and SS/Medicare payroll taxes outright, and provide a IRS free replacement in the form of a retail sales tax:
Text of legislation on Thomas ===> H.R.25
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:
How much more flesh do you need on a bill introduced into both houses of Congress before you are willing to debate it?
What I'm saying is that say you have $100K in a 401(k) or IRA today and retire tomorrow. You are gonna get wacked for income taxes on it. With the NRST you get all 100KUntil you spend it.
I think tax reform is needed, and perhaps a fair tax could be made to work, but when its proponents do nothing but call people who disagree with them "idiots" and "morons" then the fair tax people have lost the argument even before there is a proper debate. If you think tax reform is important and not just another sporting event with winners and losers, then you need to help. Soon the debate will go national, and the side that best keeps their wits and sounds professional will prevail.
Despite some of the misguided conclusions drawn by Eric Schlosser in "Reefer Madness", his essential premise, i.e. that there are literally billions of dollars flowing through the underground economy, is a valid one.
By lax enforcement of some laws and overly stringent, zealous pursuit of others, the federal government is losing billions in potential tax revenue.
Whether or not that is a good thing is another matter, altogether.
Flat tax requires same IRS structure that exists today. Fair Tax would eliminate a lot of it.
You mean that unimpressive group of guys with a lot of ideological conviction, questionable tax ethics and very little sense?
Aye, 'tis one and the same.
Small timers, trying to play in the big leagues.
In reality, its all just a bunch of populist windbagging.
then it is no good.
Now, see -- that's a reasonable comment and not simply argumentative.
The article itself, however it not really worth discussing. It is full of factictual and logical errors that even the perennial anti-NRST folks would have to agree just looks silly. The author presents a lazy and sophomoric piece of work that relies on myth and conjecture rather than fact. It's much more efficient to start from scratch and actually discuss the NRST proposal than it is to bother refuting the author line-by-line.
Yes indeed.
So investment firms are not taxed for providing investment services like mutual funds?
I'm against that plan. Too complex.
You want a concrete example, just look to your own comment earlier about Dr. Jorgensen. You quote basically a single section in a paper that has no founding or reference as gospel truth,You are looking for gospel truth from an economist?!? LOL! You're looking in the wrong place.
and then use it to claim that the work of 7 independent economists and think tanks are therefore bogus.I've never been able to find any of these papers that make these claims (have you?), so, AFAIK, they are bogus.
To my knowledge, there is no such exemption in the FairTax. And I understand that issue. However, I disagree that it should go "nowhere". However, I think the FairTax would benefit if that issue were addressed. What would you recommend?
This conversation has nothing to do with starbucks employees (who, if ever relied on me would have been out of jobs long ago.the stuff is vile) nor products made in China.
I'm already saving to buy the sofa (actually in my case the reality is a washing machine) that is how I do things....
Your point fails to include many of the points of this that have been brought up by others.........the current built in taxes on such a $500 sofa would be reduced, thus reducing the $500 price tag and so the eventual retail price of the sofa, including the NRST, wouldn't be much more, if at all, then it currently is.
By not having all the taxes withheld from my paycheck, and eliminating the hidden taxes on the price of the sofa, I'm going to be able to purchase it quicker than I now can.
I'm starting to see this as a win-win proposal all around.
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