Posted on 12/24/2007 7:55:05 AM PST by Alex Murphy
Or - better yet - why have a tax on income???
As the saying goes - “What’s so fair about a tax on income?”. In fact, there is an article by that name that clearly spells it out.
As the old saying goes ...
“What’s so fair about a tax on income?” In fact there’s an article explaining just that on FR (merely click on the link below and use the entry “(Excerpt) Read more at freerepublic.com ...” to get to the main article - parts 1 & 2 - from here:
http://www.freerepublic.com/focus/f-news/1649504/posts
What about the U. S. Government and its IRS who can (and do) implement punitive financial penalties and even jail some who do not “follow” the tax laws - which even most of the anti-FairTax gripers must admit is not understood by anyone (even those who enforces it).
Does that not lead to a good number of abuses at least some of which are not merited? Doesn’t that have harsh effects on more that all of the cases you cite? Do you favor the income tax?
The FairTax has a marginal tax rate of 23%, but its actual effective tax rate (what you pay during the year) is much less. The concept is the same as with the bond; the direction of benefit is reversed so the taxpayer (on the one hand) or the bond buyer (on the other) benefits.
And how much can you earn before you pay income taxes? I know that each state has its own rules. Say, on Michigan, you can earn about 65 thousand before its taxed. Fed taxes? What is it? 6500?
You miss the point. Your retired. I aint. I got 12 years to go and I dont expect I will be able to collect ONE PENNY because these programs will be BANKRUPT. Yet not one retired person I talk to would take a cut in his/her benefits to help save the system. And that is what it will take. A rise in the retirement age to about 75, a cut of 50% in benefits and rising the FICA to 100% of its present levels and we will be able to offer the same benefits.
I got about 28 grand invested in SS. Yet I wont see one penny of it. So, why dont they give me my 28 grand back so I can invest it into another retirement account? Because there isnt anything left in there thats why! By the year 2019 we will have to pay back those IOUs. The present national debt will increase to around 20 to 22 trillion dollars...more like over 30 trillion at the way this government spends. Who’s going to pay for it? You? Me? Anybody else here?
Fact is..that money is gone and I and those my age are NOT ever going to see it. So now..who’s getting screwed? At least you and those your age are collecting some of it. I (and those my age and younger) are going to get to see ours sucked up and left with zip...the 2nd greatest theft ever committed in the history of man-the first is the present tax system.
Now tell me..whats your plan? Keep the present course and watch it all go to hell or what?
We got a reason to cry dontcha think?
As a matter of fact, if you were the kind of gentleman that you claim to be on most occasions, you would retract the post, and and ask the mods to remove it.
Since the SALES TAX is the only tax that so VERY many ‘see’, it’ll go nowhere.
You’d have to convince people that ALL the taxes they now pay are GREATER than that, and Government will NEVER do that!
You can’t even get people to acknowledge that businesses pay NO taxes!
They are tax COLLECTORS for the state!
Increase the ‘tax’ 500% on ANY product and the PRICE of that product will go up OVER 500%! (Someone has to do the paper work!)
Why should only the old people get a refund? That is my point. Open your brain. Don’t get caught up in the libs plan to divide us. With Fair Tax you do not pay on the money you have or the income it generates. Do you understand that? It is pretty basic.
I think the only way to stop government spending is to cut off the money first. If you are frugal then the Fair Tax impacts you less than the spenders!!!
Of course they do. Do you think they want to be put out of business?
If I go out and buy $50,000 worth of building materials and pay 6% sales tax that’s $3 grand.
If I store that stuff on a 1 acre lot, and just let it sit, $3,000 is all the wood and wire and shingles will EVER cost me (other than the approximately $12,500 I paid in INCOME taxes on that $50,000 I bought the material with.)
Now if I have an artistic bent, and decide to ASSEMBLE that pile of materials into some kind of ART (provided I can get PERMISSION from the state) it’ll cost me NOTHING, tax wise, for there is no such thing as a statue tax (Dang! By next week there WILL be one! Sorry to all you statue owners out there.).
However, if my artistic sense drives me to construct an actual DWELLING out of that pile of materials, I will get the priveldge of paying PROPERTY TAXES on it, each year, FOREVER!!!!
Ain’t life grand! ;^)
I am still working and paying income taxes, SS and Medicare taxes. I’m just not working full time. If you made less than $9150 in 2006 you didn’t even have to file. If you make less than $25K as a single person you don’t have to pay taxes on your SS income.
I understand your frustration. However, you are sending it in the wrong direction. Those of us who paid into the system back in the day could not know how things would be so screwed up 50 years later. I don’t know how old you are but my son is 32 so he’s probably in the same boat. But he also makes 5 times the income I ever did in my whole lifetime so he should be smart enough to save a good chunk of it. I tried to teach him to do so.
I don’t doubt that benefits will have to be cut in the future as well as the retirement age increasing. But I didn’t make the rules and since the Feds aren’t going to give me back my money with interest, I’m going to take my monthly check and be very grateful for it.
Now I’m off to Christmas Eve mass. Merry Christmas to all my fellow Freepers - retired or not.
Holy Cow! It’s getting smaller and smaller!
Simple:
As many times until they start SHOOTING our asses!
I would be for a sales tax, but only if it replaces ALL other taxes and fees, and if it was determined upon the retail item only. NO hidden taxes, and no multi-level taxes.
If this was the case, business would be relieved of the burden it bears in income tax and social security, which would be a boon indeed, and the cost of taxes would come directly out of the hand of the citizen. 50c on the dollar taxation hurts a hell of a lot worse when it is coming out of your own pocket.
Right. But if you already have money saved, you get taxed on it again. Do you understand that?
Hello!?
Any one HOME??
We gotta DEDUCT the INFLATION rate from this; doncha know!
That’s true, but you still have to have the basics and I think I would wind up paying more in the long run.
I still think a flat tax is a better solution. If 10% is good enough for the Lord, it should be good enough for the government.
So?
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.