Posted on 09/29/2005 10:29:26 PM PDT by Sprite518
A good quick read...
Did you even read what you wrote? What is the point of saving money if you cannot use it?
And FYI: I was not referring to any "tax-deferred" savings plans. I was referring to the run-of-the-mill bank account.
Either the rate is a lie or it isn't a sales tax.
Sales taxes and the Fair Tax are not computed the same way so why are the FT supporters lying about one or the other.
If the rate was 23% the taxes on a 100.00 item would be 23.00 not the 29.98 it really is under the FT plan.
"I'm sure that, here in the States, we'd wind up doing as much...only with bigger fines, and with RFID chips. If a product doesn't have RFID, the consumer will be branded a 'tax evader' and subject to a 'tax inventory,' (the new "tax audit" by the 'non-IRS' under the increasingly-misnamed 'fair tax') that would beget even larger fines than the Italian government could ever conjure."
Just curious .... are you paranoid about any other subjects other than the FairTax? It is readily apparent that you certainly aren't paranoid about the current tax system, which has exponentially greater potential for abuse than the FairTax does.
And please...if you think that state governments will satisfy the Federal tax money wants, try looking at how well Louisiana runs things in concert with the feds and get back to me.
As for your "fair tax" (sic) bill abolishing the IRS...it will obviously abolish it in name only. If you think the infrastructure won't remain with the same people at the helm, you're kidding yourself.
And under the misguided "fair tax" plan, those dollars would be just as easily spent overseas...thus weakening the U.S. economy and strengthening the economies of other nations.
Helluva plan to turn the U.S. into a Euro-style ghetto, pal.
I didn't. You simply insinuate that I did. Please learn to tell the difference.
Then take it up with that writer. As I outlined it, there are no exceptions, exemptions or anything of the kind. Flat tax means flat tax in my book.
Which "F" is that FT? "fair" or "flat"?
I am not a politician. I prefer to make an honest living.
Both! The 'F' is for Flapjack!
It will undoubtedly have Komrade Kerry's support. ;o)
The part that makes the consumer Liable for the tax, unless he has a receipt. The part where the taxing authority can audit you if the merely think you might owe taxes. The part where it is your burden to produce records. The part where the level of proof you owe taxes is not beyond a reasonable doubt, but simply the burden of persuation. There is no freedom for individuals here, despite your claims.
And that backs up my assessment. Flat taxation has no "rate charts." It's one percentage across the board. What was done in 1986 was nothing but an absurdly deceptive modification of the abominable tax code that got us into this mess in the first place.
What is the tax rate on this sales tax?The tax rate on the sale is 30% the 23% rate is to fool you.
A $100 item before taxes would be $130.00 after tax..
$30 is 23% of $130.
The fairtax already has two exceptions in it, so they have no room to talk. There is an exemption college tuition for some unknown reason. And they have a freaky way of calculating sales tax on interest payments that is based on some federal rate that fluctuates.
WHew! And I thought it was a verb...
You're kidding yourself. The infrastructure will be even larger as every Point-of-Sale device will have to be certified as failure-resistant and its database untamperable. That doesn't come cheap...and it doesn't come without massive government infrastructure.
And then let's get into the ONLINE purchases! Every retailer and wholesaler across the world will have to acquiesce to the Federal bureaucracy if they mean to do business here. You think that isn't going to take a huge government oversight infrastructure? Got news for you.
In the end, you may "abolish" the name of the IRS, but in doing so, you're only going to get a larger, more personally intrusive IRS clone in its place.
"Then take it up with that writer. As I outlined it, there are no exceptions, exemptions or anything of the kind. Flat tax means flat tax in my book."
I'll try again - what is the bill number of your proposal and how many co-sponsors do you have?
No, I just oppose the ones that make false promises. I actually like several apects of the fairtax, it just burns me up that 90% of the claims are pure BS. I support a simplification of the current code and lower rates. The first thing they ought to do is to get rid of the stupid AMT tax.
And the folks who have already paid taxes on their savings will openly revolt at the plan since it will force them to pay double the taxes on the same dollar.
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