Posted on 02/13/2005 10:41:05 AM PST by nsmart
The FairTax is the non-partisan national sales tax proposal that would replace all federal income taxes. These include personal, estate, gift, self-employment, alternative minimum, capital gains, FICA, and corporate and death taxes.
(Excerpt) Read more at WWW.FAIRTAX.ORG ...
LOL!..so true.
That Sir is an outright LIE!Uh, how long did you say you'd been following the FairTax?
The FairTax imposes no tax what so ever on incomes of any kind!
My bad.
My bad.NP. Thanks for not calling me a liar! ;-P
So you're about even.
You could make that argument. You also can make the argument that the NRST would reduce prices by about 10-15% without affecting wages so you're actually ahead.
As it is now, tax deferred accounts are taxed upon withdrawal with the one exception of Roth IRA's and who knows what congress will do with those things in 25 years when SS is broke. So in the case of a NRST at least you KEEP what you make.
Even you're confused (no surprise there) by the phony rate you tout as "used to compare".
Go FAIRTAX BTTT!
As a business owner, I side with the 'nutty professors'. I don't have to hire an accountant to figure the amount of sales tax owed on the products I sell. It is a very simple form and I can complete and comply with about 30 minutes of work per month. On the other hand the amount of paperwork and time necessary to comply with Federal regulations related to payroll are amazing and they don't even come close to what is involved in Federal filing at the end of each fiscal year.
Personally, I don't give a damn.
You still have to report employee earnings, SS benefits require it. You still have to account for everything you bought and maintain records to ensure that what you bought was for a legitimate business purpose. I am a business owner too, and it with compueters doing payroll is no more difficult than what sales tax would be. Personally, I am in the home building busines, and there is no way in heck the building business is going to make it if we have to charge a 30% sales tax (which is what a 23% 'inclusive' rate really is). This bill will destroy the new home business.
Remember I'm in the business too.
Of course the link has footnotes and is sourced.
OY!
With all due respect, Dr. Jorgenson is a pointie headed professor who has been bought and paid for by FAIR and has never spent one hour in a real business. It is just the same old boilerplate crap that doesn't even specifically apply. He simply assumes prices on everything fall, interest rates drop, wages go up, yada yada yada. Not impressed. I can point to sources that says Clinton is an honest man, doesn't make it so.
No he doesn't assume those things.
"In my opinion, the Patriot Act is a pussy cat next to what I have to tell the IRS."
That is a great point, and one I have wondered about a lot. Giving the feds the right to go to the library and review what books you have been checking out is a greater intrusion of privacy than requiring you to disclose every detail of your financial life once a year? Unbelievable.
Dale W. Jorgenson, Ph.D., Harvard University, Testimony before the Ways and Means Committee, March 27, 1996.
Laurence J. Kotlikoff, April 15, 1993, Cato Institute Policy Analysis.
Gary Robbins, Aldona Robbins, Policy Report No. 127, September 1994, Taxation Analysis, The Institute for Policy Innovation.
Dr. Martin Feldstein, Ph.D., Working Paper 5397, December 1995.
Robert E. Hall and Alvin Rabushka, The Hoover Institution Press.
All are "pointy headed" idiots eh? Just making crap up to ruin your business eh?
"Price going down 30-40% the first year is purs bullcrap."
You are the only one that I have seen use a range of 30 - 40%.
What were you saying about hating the exaggerations of the FairTax supporters? Apparently exaggerations only bother you if they are in support of the FairTax.
Is your statement that we will not see the degree of price reductions claimed? Or is it that prices will not decrease at all?
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