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.
OK, so wages and self-employment income is the governments business, but capitol gains is not???? Wow....
I can explain it to you for the 100th time, pull all the numbers off the IRS site, but it will still not get through to your little head. When they talk about 'embedded tax' they include every penny of tax.
That's why my income tax was over 6 figures. Under the fair tax it would be over 7 figures.
It is not a belief, I am 100% certain you have no idea what you are talking about. It is just ignorant to keep arguing with you.
How about let's cool it with the insults and personal attacks.
Thanks
I had already decided to never respond to that person again so I will definitely obey.
You've got is bass-ackwards, Rongie.
Hey - for a switch you're correct. Congratulations - there's hope yet.
Capital gains, etc. are not taxed (or even reported) under the FairTax.
No - sorry, they don't. The withholding taxes go to the employee's takehome and are not part of the embedded tax costs.
Hard to say, Rongie ... but I'm afraid I'd have to admit I'm a bit skeptical since that would mean you'd be spending on taxable consumption something like $4,500,000.
If the amount of tax you pay with that sort of income stream is really a concern to you (it wouldn't be to me if I were able to consume at that level, but hey, that's me - penurious), then you might think about buying a few fewer used cars and houses each year rather than so many new ones.
(Or, of course, you could donate - say $250,000 to FR; I'm sure they'd appreciate it). If as you say you do your own bookkeepping with one hand tied behind your back with a dull pencil - and your tax returns as well, how is it you get nicked so much for taxes??? There are zillions of ways to cheat ... pardon "minimize" ... income taxes right now? There are even lots of CPAs on the threads - maybe you could hire some tax advice??
I'll sell mine to anyone who wants a copy (brand new-read once) for $12 including postage.
Thanks, but, I want to buy a new one. Keep it high on the NYT list.
In case you missed it, Jim Robinson posted on this thread concerning personal attacks. I believe your derogatory name-calling you insist on using in every post to a dissenter falls into that category.
But about the post, I was basing it on my gross sales. On seven million worth of gross sales, my income tax is over $100,000. On seven million worth of sales, I remit must over $1.6 million of the seven million to the government. Somewhere I need to find $1.5 million worth of savings from your plan to come out even. It ain't going to happen even if every supplier and sub passed their savings on to me.
"How long before the choir runs out of money to give to Boortz?"
The way "the choir" is growing, that could be quite a while!
:-)
"Why do they use the euphemism "Fair Tax" instead of calling it what it is -- a National Sales Tax? Wouldn't they be better off calling it what it is and letting the people decide if it is fair or not? Just asking. :)"
There have been other sales tax proposals; the FairTax is a specific one. By way of contrast, there are several flat tax proposals, all of which are collectively referred to as a flat tax. One of the flat tax proposals, for example, is the Burgess bill in the house and it doesn't even call for the elimination of a single line of the current system. It simply adds a flat tax option to the current mess.
The term "FairTax" came out of the research which was part of the design process. The American people named it the "FairTax".
".....but if you want to think there is some kind of significant distinction, I am not going to stop you."
Aha! AR is now Finally Right!
"So what. I have my retirement in Roths. I have already paid tax on this and was led to believe that I would not be taxed again on this money."
You were led to believe wrong. Much of the taxes that we all pay is imbedded in the prices of the consumption goods that we buy. That is true under the current system and it would be true under the flat tax. That is one of the things which is so insidious about both.
Do you think they can calculate your social security benefits out of thin air with no information? They have to get the information somehow.
Yes, you won't be income taxed. But you will be paying many taxes (local, state, and federal) when you spend it under the current system. Aside from the already imbedded taxes in the price of the product.
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