Posted on 06/10/2005 10:07:47 AM PDT by Sprite518
AND WHAT ABOUT THE FLAT TAX?
Yes, I know. Some of the people that we would love to have supporting the FairTax have weighed in in support of a flat tax instead. So ... here's some flat tax vs. FairTax issues some of you may want to consider.
Yes, I know. Some of the people that we would love to have supporting the FairTax have weighed in in support of a flat tax instead. So ... here's some flat tax vs. FairTax issues some of you may want to consider.
1. In 1986 the Congress reformed our tax code to essentially give us a flat tax ... a flat tax with two rates. Fifteen and twenty-eight percent. Most deductions were eliminated. Today's tax code is the result of that effort.
2. A flat tax leaves the IRS in place. You'll still have to report your income to the IRS every year, and you'll still be subject to audits.
3. Social Security and Medicare payroll taxes? Still there.
4. Do you get 100% of your paycheck? No. Withholding will still be there.
5. Business taxes? Still there .. and they'll remain embedded in the price of every good and service you buy, so you'll be paying them.
6. Corporate board meetings? They'll still spend an inordinate amount of time working on the tax implications of business decisions, rather than just basing their business moves on what's best for their customers and shareholders.
7. K Street lobbyists? They're still there too. They'll still be drawing their six-figure incomes while they game the new flat-tax for the benefit of their clients.
8. Bring American businesses back home? Nope. Business taxes are still there, so American businesses will still locate their operations overseas in order to escape our punishing business income taxes.
9. Death Tax? Gift Tax? Still there in all the flat tax proposals I've seen.
10. Will the flat tax bring American wealth back home? The latest estimates put $10 trillion of American wealth in offshore financial corporations. There is only one reason that money isn't back here working ... and that's our income tax structure. Will the flat tax bring that money back home? Nope. The FairTax? Yup.
11. What about the poor? They're not paying income taxes now ... will they pay the flat tax? No way! But politicians will still be looking for a way to raise taxes on the rich so that they can relieve the poor, poor pitiful poor of the responsibility for paying for their own Social Security and Medicare.
12. Will all Americans be able to buy the basic necessities of life without any federal tax consequences under the flat tax? No. The FairTax? Yes.
13. Will foreign visitors to our shores contribute to our Social Security and Medicare programs under the flat tax? No. The FairTax? Yes.
There's just a few points. If you have some good counterpoints, let me know! From my point of view, the flat tax pales in any comparison to The FairTax.
Thanks for the post!
Sure I heard it today, and thought Neal made some valid points. Do you know if Rush is on board with the Fair Tax?
Rush is luke-warm on Fair Tax.. He says he'd rather have Flat Tax.
Both are pipedreams unfortunantly.
And the "fair tax" doesn't? Just look at all the state tax departments auditing the daylights out of every corporation in America to be sure they are getting every mill of tax they are due. The Federal system will be thrice the size of the current IRS when legislators start with differential rates once the "fair tax" framework is in place. The "flat tax" IRS will be a fraction of the current size, mostly looking for cheats who avoid paying tax altogether.
The SINGLE biggest impediment to changing anything for the better is people who have accepted defeat before the fight even starts.
There are two reasons neither plan will pass -
#1 - They makes sense
#2 - The people want it...
You will have the absolute FReedom to work, earn, save and invest without the heavy hand of government interfering in your most personal and private financial affairs.
A flat income tax is still an income tax, with all the slave-like implications thereof. Whatever the rate, the goverment will still decide how much of your income they get to steal.
Nope in fact is does not!
I invite you to go to fairtax.org and learn a little more about what you are talking about.
And the source for those fanciful thoughts?
As long as we have Gutless Republicans, Deceitful Democrats, and Stupid Citizens, neither plan will pass.
If you would like to be added to this ping list let me know.
John Linder in the House(HR25) & Saxby Chambliss Senate(S25), 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.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:
A M E N ! ! !
With the FairTax in place the government will no longer need to know even so much as anyone's name in order to collect their taxes! That alone should be enough distinction between the two systems for any thinking person.
With your kind permission I, and a few million of my friends are just going to have to go out and do it for you then! We don't mind and you don't even have to say thank you!
Whyever would that be so????
Is earned income taxed from all sources including wages, pensions, interest, dividends, capital gains, whatever? In other words no tax free income of any kind.
Ping
Bump that to the top with a uh-huh!
Rush has requested and been forwarded a final draft copy of Boortz and Linder's book "The Fair Tax". The book is already #3 at Barnes and Noble and it doesn't go on sale until August. Linder says his fellow congressmen are calling him saying they are getting called by contsituents who want them to look at the Fair Tax.
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.