Posted on 02/14/2006 4:55:43 PM PST by Eaglewatcher
There are very few who look forward to income tax filing and the Internal Revenue Service, especially around this time of year. Yet many probably consider it un-patriotic to complain about the tax system, even if they quietly wish we could come up with something better.
Now, after years of grass-roots effort, there is broadly supported legislation before both houses of Congress that would eliminate both the IRS and the income tax system. The legislation, House Bill 25 and Senate Bill 25, is called the Fair Tax Plan. It replaces the income tax system with a national retail sales tax on new goods and services. It would generate enough tax revenue to completely replace all federal personal, gift, estate, capital gains, alternative minimum, Social Security, Medicare, self-employment and corporate taxes.
The Fair Tax eliminates all payroll tax withholding as well as the 7.65 percent employer matching of Federal Insurance Contributions Act, or FICA, taxes.
The Fair Tax is imposed on new goods only. No sales tax is collected on the transfer of used property. It is also a progressive tax, with a monthly rebate paid to each household in the amount equal to the sales tax on that household's poverty-level income. Those at the poverty level essentially would pay zero effective sales tax.
Imagine the Fair Tax benefits of taking home your whole paycheck with no taxes withheld; never filing another income tax return; not thinking in terms of tax write-offs and deductions; American goods competing against imports without the embedded cost of corporate income taxes.
This is a tax system of which all Americans can be proud. The Fair Tax Plan would be real tax reform. Questions can be answered by visiting www.fairtax.org. Also, "The FairTax Book" is available at local bookstores.
I urge taxpayers to write their congressman and senators requesting their support for the Fair Tax Bill
I'll take that deal any day. Having to pay professionals and report every aspect of our private financial dealings to the federal government is an expensive boondoggle of an outrage and assault on the founding vision of the relationship between the people and the federal government.
you dont know anything about the fair tax. IT IS ABOUT 23%... AND YOU GET TO KEEP YOUR ENTIRE CHECK... and the SCUMMY POLITICIANS CANT GET THEIR GRUBBY HANDS ON IT.
I agree overall. Certainly a good portion of the budget is necessary, under the Constitutional mandate to 'establish justice, ensure domestic tranquility, provide for the common defense, promote the general welfare, and ensure the blesings of liberty...'
But certainly the part of the budget that's used as a tool to keep the dependency class voting Democrat should be axed.
Now, the FairTax people have released info over the last several years that indicate an INCREASE in tax revenue, had HR25 been in effect.
That tells me that 23% (inclusive) is too high, since it's supposed to be revenue neutral.
IT COULD SAVE THE MIDDLE CLASS MAKE EM STRONGER ... It is important for our country.
Those who promote the so called "fair tax", are gullible and don't understand what it would be like in practice.
When I moved to the state I now live in, there was NO states personal income tax. Shortly thereafter, one was proposed and people fell for the dangled lowering of the sales tax. They claimed that everyone would pay less. THAT DID NOT HAPPEN, EVERYONE PAYS MORE!
Then, there is also the side of the "fair tax", which even when explained, gets yelled down her and denied; to whit: there is a gaping hole for even worse cheating, with the "fair tax", than there is now. Also, people who pay lots of money on luxury goods, WILL find a way around the FT and/or just stop buying as much/all of it in America.
And making everyone, from the local babysitter, to a national corporation, become the tax collector for the nation, is an invitation to disaster!
Calling names is recognized as a sign that the name caller has nothing else. Do you have an objection besides your thinking that tax reform supporters are miscreants? If you do, I'd like to hear it. I'm sure others would too. I'm looking for information. Got any?
This very system works just fine in Texas and Florida.
I like your proposition the best.
Word on the street is that it'll come back around 18.5%. THat happens to be just over a 22% add onto prices of taxables.
We'll see. We dang sure don't need to be collecting any extra !!!
the current tax system has destroyed the middle class and the country...
Exactly so and in spades!
Its showing up everywhere!
Indeed it is !!!!.
A Taxreform bump for you all.
If anyone 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 replace them with with a national retail sales tax administered by the states.
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:
You've just blown your entire position, b y also claiming that the "fair tax" isn't a VAT. LOL
good point
The best that can be done is to remove low-income people from any U.S. income tax bracket and very gradually move that income level up.
I see you approve of the AMT, which relies on inflation to move everyone up into the same tax calculation achieving precisely that.
corp. already do not pay taxes: they pass them on to the consumer... you and me... we are the ones who pay taxes for everyone
Corp. taxes are embedded in the cost of goods and services.
true... buy your ebay stock now
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