Posted on 08/18/2005 6:34:27 AM PDT by GPBurdell
NUMBER ONE ---- AGAIN!
The word came in yesterday afternoon. The FairTax Book will remain No. 1 on the New York Times Bestseller's List for the second week in a row. Our editor at Regan Books told us yesterday afternoon that it is much harder to make this list the second week than it is the first. Needless to say, we're excited and gratified. Interview requests for Congressman Linder and myself are pouring in, and the crowds at the book signings remain strong.
Our greatest hope is that the book generates a buzz and momentum of its own. Across the country people who have never heard of The FairTax before are learning that it is possible to get rid of all income and payroll taxes and replace those taxes with a one-time tax on consumption at the retail level. These people are learning that:
* They can say goodbye to the death tax, the gift tax, Social Security taxes, Medicare taxes, the Alternative Minimum Tax, capital gains taxes and the trouble of filling out tax forms; * That they can just go enjoy themselves on April 15th, just as they do on every other spring day; * That American corporations who have fled overseas to escape our crushing tax system can be brought home again; * That they can invest and save with no federal tax consequences whatsoever; * That the trillions of dollars that are working in offshore financial centers, again to escape our crushing taxes, can be brought back to work in the American economy again; * That we don't need to spend $500 billion a year to comply with an obscene tax code; * And that all of this can be accomplished while eliminating the federal tax burden on the poor, and without increasing the cost of living for everyone else.
I was discussing the book with some friends last night. I told them that over the past ten or so days I think that I have signed about 8,000 copies of the book at various book signings. Since many people buy multiple copies of the book, I would guess that I've seen about 6,500 people during that time. So .. how many people had something negative to say? Two. That's it. Just two. One man at Ft. Bragg came through the line twice to have two books signed (he went and bought an extra copy) all the while grumbling that we didn't include enough of the research in the book. Well, there's a reason for that. You can find the research at the FairTax website. Knock yourself out, pal. One other man stood in front of the table and demanded an opportunity to point out all of the typos he had found. We politely declined his incredible offer. But that's it. Two complaints. On the other hand, we've received hundreds of comments from people who doubted whether or not this idea could work ... until they read the book. Well, that's what we were after.
Again ... thanks so much for another week at No. 1! The FairTax is becoming an idea that can't be ignored.
In your example the owner reduced his salary.
More Squirrel nonsense.
You're not even making sense, Looey.
He keeps $55 before and after the change.
There is no change in the amount he keeps.
The amount he keeps remains constant.
In the case of the nrst, he would be able to charge $55 and bring home $55. The tax would be paid by the client bring ing the total back to about $75 - just what he's paying today.Pay cuts is what we've been saying would have to happen...
Using your example, before the sales tax his $75.00 would purchase $55 goods and services after your sales tax his $55 will only buy $42.00 worth of goods and services....
Here's the reality of your sales tax:
$75 plus 30% = $97.50
Acme Service remits 23% to the Fairtax
Leaving service provider $75.00 minus 23% when it's spent or 57$ for goods and services...
Get it?
Dead wrong.
As the clients of the business owner in the example end up paying the same price for his services before $75 and after, $75. There is no big change - perhaps none at all.
$55 is all he had before under the income tax - get it?
He keeps $55 before and after the change. There is no change in the amount he keeps. The amount he keeps remains constant.Just like employee's wages would be reduced by the amount of income/payroll taxes they were paying previously. There would be no change in the amount they keep...
There is no big change - perhaps none at all.
You said the service charge would go from $75 to $55...that's a big change to the provider....What happened to the 100% paycheck promise? Where does that fall into your service price reduction plan?
Untill you prove your made up as you go along numbers are possible, it's all just a fantasy in your mind....
Leaving service provider $75.00 minus 23% when it's spent or 57$ for goods and services...I got it because I properly added the 30% tax to the original $75 charge...that's how the provider ended up with $57.00 after taxes of the $97.50 (including taxes) service charge.$55 is all he had before under the income tax - get it?
Get it?
Hate to break it to you but you are reducing his salary. His take home is the same, but his salary is reduced. That's the only way you can get the price drop to work.And Principled just proved it...
Do you believe this? Principled says his example shows how a service can reduce their price without reducing wages and when we explain that the guy in the example is reducing his wage, he says "Yeah, but he's taking home the same amount"! Too funny.
Do you know the difference between profit margin and markup?
He keeps $55 before and after the change.There's a HUGE change. Before the change the $55 is after tax.There is no change in the amount he keeps.
After "the change" he has to pay tax from the $55 he has left...That's a minus 23% "change"
Yeah, but he's taking home the same amount"! Too funny.When you point out the obvious, that their "same amount of take home" hasn't been taxed yet they sorta drop off the page for awhile....
Do you know the difference between profit margin and markup?What nitwits...taking the same product, marking it up and RESELLING THE EXACT SAME PRODUCT 6 times is a (pathetic) example of market place income tax cascading?
BWAHAHAHAHAHAHA!!!!! UNBELIEVABLE!
Gee, and I thought companies went down to Mexico because labor cost is $2 per hour vs. $20. Now I know that plays no role. So that means all planning costs are really tax compliance costs.....the thing is, even using YOUR compliance costs numbers, there still is not 20% embedded costs.
What nitwits...taking the same product, marking it up and RESELLING THE EXACT SAME PRODUCT 6 times is a (pathetic) example of market place income tax cascading?Evidently, in FairTax World, businesses only have profits and tax costs.
Sharpen your calculator, Looey. It's acting up again.
Evidently, in FairTax World, businesses only have profits and tax costs.And every "tyre"[sic] that goes on a new vehicle is bought, marked up for profit and "tax costs" and resold 5 times before the manufacturer buys it...BWAHAHAHAHAHA!!!
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