Posted on 05/14/2006 1:59:13 PM PDT by RobFromGa
ftp://ftp.bls.gov/pub/special.requests/ce/standard/2001/income.txt
that may help you
It's no secret... it's because the existing tax system discourages saving money and encourages spending it.There's no proof of that.
The Fairtax by your/it's own admission lowers interest rates. Where's the "saving" incentive in even lower interest rates?...Oh wait I know, (I'm supposed to think) I'll have more money to save at an even lower rate than before WOW!
And, what is saved money for, count, look at?
And, if you're admitting the Fairtax discourages spending how is that good for the economy?
And, if spending is dicouraged what would happen to the rate? IOW, what's the point of the "sales tax" if your goal is to discourage "sales"?
Fairtaxers lack any logic.
The prebate, as I understand it, is intended to be a refund of the sales taxes a family is assumed to be paying on the basic necessities of life. How is this refund any more evil than the one I got in April?Was your refund in April based on assumptions?...That's how.
So I guess we are in agreement that prices are going up substantially if the FairTax were to pass?
... but, except for one pig-headed holdout, it looks like most agree.
What country are you from ???
96.4% of income taxes are paid by 50% of the people. The other 3.6% of the Federal tab is picked up by the other half. 35% of the tab is picked up by the top 10%. How does that constitute a super-majority that gets hit hardest ?
I'd never attempt to promote the notion that the "fair tax" plan is perfection. However, it's a damn sight better than what we have now, and it's about the only plan that "is" better that has a realistic chance of being implemented.
Obviously he's not the only one ... check #242.
Sorry guys, most who understand the FairTax realize you're merely blowing smoke abd don't agree with anything so silly. There'll be no "substantial price increase" at all.
Disposable personal income will remain where it is or - more likely - go up somewhat. With all the income tax effects taken out of prices it can hardly be otherwise despite your misinformation.
And the SQLers lack any truth.
Naw - the Nat'l Retail Federation is pitiful. Read the rebuttal to their so-called "study" on the FairTax website ... and stop posting such garbage.
States and localities pay the FairTax (which is more likely a 19% t-i rateEven if 19% vs 23% was true which it "more likely" isn't, is a new (HIDDEN) 19% tax on states and localities (That would be us, but you're too dishonest to admit that) supposed to make us all stand and cheer for the Fairtax?...we're not all lunatics too.
Okay, so the fact that the amount that's being 'prebated' isn't exactly what I would be taxed on basics that's irritating you?No, the entitlement mentality irrtates me.
So, one month I might get back $10 more than I would if someone audited all my receipts, and the next month I might get back $15 less than what I actually pay.Actually you get the same amount every month based on your family size whether you spend any money or not...you know, like a welfare check.
Why not increase the (GAG!) prebate and eliminate the tax on everything? For this we should condemn ourselves to a progressive income tax system
FAQ #48
Is the Fairtax progressive?
Do the rich pay more and the poor pay less as a percentage of their spending? Absolutely, as you can see in Figure 6 below – where the graph shows annual expenditures for a family of four and the corresponding FairTax effective tax rates. The poor actually pay less than zero-percent retail sales tax on their spending. Much like with the earned income tax credit of today, the rebate may give them more money than they actually spend on retail taxes. Especially if they are frugal and buy mostly used products. On the other hand, the wealthy approach a maximum of 23-percent retail sales tax on their spending.So I guess socialism is OK as long as you beleive you're getting your share...or more
The states are taxed now Looey and the subset (you do know what that means, don't you?) of W&S employees affected is actually pretty small IAE.
There's nothing hidden about such a tax nor is it hidden by being embedded in prices as at present.
Ah, but Looey - it's not "socialism" or anything like it. Nor is it an entitlement but a refund of part of your taxes paid so it certainly is nothing like "your welfare check".
And so you miss the obvious point that to increase the prebate the FairTax rate must be raised ... and that means raising it for everyone. Your GAGing must have blinded you to the truth.
Sorry, scamal, the VAT taxes were not (and still aren't) at all like a true tax on end consumption such as the FairTax. They are quite different and almost all of them also have other big taxes hooked on.
You must mean "trust the IRS; they know what the tax laws are AND what's good for you".
Read #276 again, and reply when your brain is actually turned on.
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.