Posted on 08/27/2007 7:53:49 AM PDT by Turret Gunner A20
See post 200. Frankly, if I had to be low price all the time, I couldn’t have tax trouble. Look, I’m not impugning motives or calling anyone an idiot, but the things that Boortz assumes will work don’t always do so, and it’s dangerous to assume they will. Remember tariffs on Japanese cars? That sure gave American companies a big price advantage. What did they do? And, that sure eliminated the threat to American automakers, didn’t it?
Bruce Bartlett is just another “protect the status quo no matter what” shyster and what he writes these days isn’t worth the effort to read.
Not true. The video was doctored. Fred's campaign has denied it. Typical fairtax shenanigans.
...and the never ending one-note-song from the king of the FTN’s
Boy, I would hate to see what the third and fourth strings are.
“Panel statement #3: The FairTax proponents’ calculations used faulty assumptions and a higher sales tax rate would be needed to be revenue neutral.
“FairTax response: The Treasury estimates for a national retail sales tax reported by the panel were not an estimate of the FairTax legislation. The panel concocted a base of their own, one apparently designed to produce the highest possible rate. Rather than follow the FairTax legislation, they apparently used a typical state sales tax base that is far, far narrower (many exemptions) than the single-rate/no exemptions FairTax.”
FairTax.org continues...
“In addition, the Treasury refused to compare rate quotes on an apples-to-apples basis. Rather than quote the rates for replacement systems in a direct comparison to the income/payroll tax rates they replace, they used ‘econospeak’ sleight of hand to compare apples to oranges. Since the ill-fated beginning of the income tax, it has been quoted by government (and taxpayers) in what economists call a ‘tax-inclusive’ manner. ‘My tax rate was 23 percent’ means if you earned $100, the government kept $23. If you talk about that rate as if it were a sales tax, which is added on to a purchase (tax exclusive), the income tax rate is 30 percent. No matter what, the government gets $23.
“... the Treasury **refuses to make public** [emphasis mine] its scoring methodology – estimating the tax base and revenues – for these plans. Providing such methodology is standard operating procedure in the academic world, yet the Treasury has ignored requests for this information from both FairTax.org and academia.
“...The Beacon Hill Institute at Suffolk University and Laurence Kotlikoff, Professor of Economics at Boston University, have teamed up to provide a sound methodology for estimating the FairTax base and computing the FairTax rate.4 Their paper demonstrates that the 23 percent rate specified by the Fair Tax Act (HR 25) is eminently feasible and suggests what led Gale5 and the President’s Advisory Panel on Federal Tax Reform6 to reach the opposite – and incorrect – conclusion. (Paper available at http://www.fairtax.org/PDF/TaxingSalesUnderFairTax.pdf .)”
Study both: http://snipurl.com/taxpanelrebutted + http://snipurl.com/ftgalerebuttal
With regard to effective percentages that different income groups would pay, as shown charted in the article, Prof.’s Kotlikoff and Rapson (10/06) have said,
“...the FairTax imposes much lower average taxes on working-age households than does the current system. The FairTax broadens the tax base from what is now primarily a system of labor income taxation to a system that taxes, albeit indirectly, both labor income and existing wealth. By including existing wealth in the effective tax base, much of which is owned by rich and middle-class elderly households, the FairTax is able to tax labor income at a lower effective rate and, thereby, lower the average lifetime tax rates facing working-age Americans.
“Consider, as an example, a single household age 30 earning $50,000. The household’s average tax rate under the current system is 21.1 percent. It’s 13.5 percent under the FairTax. Since the FairTax would preserve the purchasing power of Social Security benefits and also provide a tax rebate, older low-income workers who will live primarily or exclusively on Social Security would be better off. As an example, the average remaining lifetime tax rate for an age 60 married couple with $20,000 of earnings falls from its current value of 7.2 percent to -11.0 percent under the FairTax. As another example, compare the current 24.0 percent remaining lifetime average tax rate of a married age 45 couple with $100,000 in earnings to the 14.7 percent rate that arises under the FairTax.”
Study: http://snipurl.com/kotcomparetaxrates
And, finally,
“...once one moves to generations postdating the baby boomers there are positive welfare gains for all income groups in each cohort. Under a 23 percent FairTax policy, the poorest members of the generation born in 1990 enjoy a 13.5 percent welfare gain. Their middle-class and rich contemporaries experience 5 and 2 percent welfare gains, respectively. The welfare gains are largest for future generations. Take the cohort born in 2030. The poorest members of this cohort enjoy a huge 26 percent improvement in their well-being. For middle class members of this birth group, there’s a 12 percent welfare gain. And for the richest members of the group, the gain is 5 percent.”
If only the FairTax could work to collect the amount of revenue that the government needs to run on, while not collapsing our economy at the same time, then all the high-falutin’ rhetoric might be meaningful.
Since the FairTax is a fraud, your high-falutin’ rhetoric is glossy lipstick on a big ol’ pig.
soo soo sad.
You left out 20-25% bigger paychecks, a government check every month, prices stay the same, no one will evade the tax, and politicians will no longer act like politicians and try to buy your votes.
Oh yeah, and MORE CHRISTMAS for everyone!
Whatever you say Rob.
Whatever you say.
It’s the Spending, Stupid! (Not the method of collection).
Bingo.
FairTax passage estimates presently run in a two sigma band of 0.0011% t0 0.0036%.
Another thread about the tax that won't happen huh...
Simple fact, once every thing is cleared to the brass tacks, is that the American people will not support replacing one progressive tax with another, especially one that punishes SPENDING in our economy.
Wrap it in red, white and blue all you want, to create a systems that punishes people who spend more is just a non starter in 21st Century USA...
For the best over view of the other side of the Fair Tax, best single article I have seen is from the Conservative Mises Institute, and economic studies Think Tank:
http://www.mises.org/story/1814
There are many others, but this is a great start...
As I have said before, get back to me with a plan that gets rid of or reduces the IRS AND balances the burden for all.
Boy, I would hate to see what the third and fourth strings are.The Son of Pigdog.
Then why are you, and your merry band, spending so much time and effort helping me promote it on FR?
What are you so worried about?
LOL!
The video was doctored. Fred's campaign has denied it. Typical fairtax shenanigans.
What evidence do you have to back up your accustion?
What evidence do you have to back up your accustion?The video. Just watch it.
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