Taxing Sales under the FairTax – What Rate Works?

Boston University ^ | September 2006 | Laurence J. Kotlikoff et al

[GregoryFul]

What a dream, eh?

[pigdog]

To see how wrong the Tax Panel was about things just read the paper in the lead-in post. Their claim of the prebate as an "entitlement" has no more honesty or credence than does yours.

It is as I said, the prebate is a rebate, not an entitlement. The fact that you (or the Tax Panel) can't use a dictionary is your problem, not mine.

[GregoryFul]

Indeed you have such a right provided you can offer a better tax system in its place - and most people realize the income tax system we have ain't it.

I have an unqualified right from my creator. Stuff it.

[GregoryFul]

And create the largest entitlement system in history.

Hence the advertised "greater progressivity". More commie sh*t.

[pigdog]

Several times through this thread, you've spoken of yourself as a "middle-class retiree" and seem to say that you plan to live off of your accumulated savings for 20-30 years comfortably with no income other than the savings.

This doesn't help see what your tax situation would be under the FairTax an apparently you don't wish to use the calculator for some reason.

Is the above a correct description of what you're said? If so, what would you consider to be a comfortable amount of money to spend over the next 20 to 30 years? Are you married? With/without children? Do you have any other income after you retire? If so, who much - or is it only S/S?

[lucysmom]

The discussion here, however, is about the FairTax, not your beloved income tax.

Did you notice that it was your quote I responded to? If you want to keep the discussion focused on the FairTax, then don't derail it.

[Mojave]

It is as I said, the prebate is a rebate

You're known for lying frequently.

The so-called "prebate" monthly entitlement check would have nothing to do with what the recipient would actually pay in "Fair" taxes.

[lucysmom]

I asked for no such quotes...

Really? Who was the quote from that I cut and pasted?

[Mojave]

More commie sh*t.

A Karl Marx wet dream.

[xcamel]

You're known for lying frequently.

Now who's attacking whom?

[pigdog]

It's not "so-called". It IS called a prebate and it's defined in the bill as a rebate. A rebate (as defined many times before) is "... a return of a part of a payment ...".

I realize that a big, difficult concept ... but try to understand!!!

[pigdog]

You DO have a reading/comprehension problem, don't you???

That's merely another of the FairTax bashers (one of your bedfellows) attacking me ... but I thought you knew that.

[pigdog]

Well no ... what I noticed was you responding to a post to someone else and attempting to offer a lame defense of the income tax where the post I made to someone else was referring not to the income tax but to a poster who routinely made that claim.

So go try your "momma knows best" trash someplace else. I didn't discuss the income tax - you did.

[pigdog]

Which quote and which cut and paste do you refer to?

[xcamel]

No, we just point out what an obnoxious little whiner you are.

[GregoryFul]

I've retirement savings in many different categories, perhaps I've overdone it. Tax sheltered index funds, individual stocks held at long and short term (in my individually controlled funds, I trade a lot, if I see 10% or more in a month, I sell and cheer about it! (I've been moving my criteria up in the wake of the recent euphoria)), real estate holdings, tax free annuities, guaranteed ROI investments. Various holdings that I've accumulated over the years. Most of which I've accumulated from after tax $. I wonder every day why I go into "work."

The tax consequences of government policy are of great concern to me, as it affects my ultimate real return greatly. It is quite enticing to a trader's mindset to obviate trading profits, I would like that - no taxes on selling, but I would not like the trading gains I've achieved to be taxed again, and then at a retroactively imposed, absurd rate, I would not like that at all. I would certainly not take the capital risks I currently take, and would withdraw from the US market in quick time. Why the hell invest in the US when emerging markets are returning at least twice the return of that in the US, albeit at a higher political risk - unless it is for safety and consistency of policy.

Should the US government impose or introduce or even threaten to employ 3rd world inconsistency on investment returns - it will ultimately achieve 3rd world results.

[pigdog]

As I said, I asked you for no quotes.

[pigdog]

Oh, I see ... the attacks are fine so long as they are directed at a FairTaxer but not the other way around ... very interesing. Sort of a unilateral bash-fest, eh?

[GregoryFul]

A retroactively enacted tax on accumulated assets - a commie wet dream, I like that.

[Mojave]

It IS called a prebate

Yep, that's the invented word used by the NSRT cultists to misrepresent their entitlement scheme.