Huckabee campaigning for 23% sales tax

The Los Angeles Times ^ | December 24, 2007 | Janet Hook

[baybabe]

Nope ... check post #282 - and we’re still speaking of the effective tax rate, not marginal rate.

[baybabe]

Give me your name, SSN, and address and I’ll see what can be done ... but just remember - you asked for it.

[xcamel]

Source? walkingwallsreet.

People already pay less than the FT rate, and no one is left off the chart - all quintiles are represented. There is no rational comparison to the current effective rate, and that which is part of a fantasy dreamed up by the fairtaxers.

[baybabe]

That’s no ocean if you’re a swimmer, no hill if you’re a climber; but I guess you’ve never lurked.

[baybabe]

... and that’s no message if you’re a typist...

[Toddsterpatriot]

Nope ... check post #282 - and we’re still speaking of the effective tax rate, not marginal rate.

Nope. We're talking about money I've already paid tax on several times being taxed again. No thanks.

[Toddsterpatriot]

Great, give me your name, address and phone number. I’ll mail it to you.

[baybabe]

You’d better walk several more blocks or miles.

Most people do not pay less than the effective FT rate and, yes, there are 20 or more million left off of the chart in the form of those in the underground economy who will now pay a reasonable amount of tax in the form of the effective FairTax rate.

If they’re non-citizens, they’ll also pay a higher rate than the rest of us spending the same amount of money since they are not eligible for the prebate.

Why in the world do you walk wall street? I thought everyone there traveled by cab or limo (or bicycle in some cases)?

[xcamel]

They pay 100% of your fictitious “embedded rate” every time they “consume” anything - do you’re dead wrong.

[baybabe]

Nope, we’re talking about tax rates and you’re the one who originated the rate talk - and incorrectly so since many expenditures are not taxed under the FairTax and the effective tax rate there is much less than even the 23% ti rate (that’s the marginal rate).

[baybabe]

Gee ... really??? Whattaguy! I’ll look for it within the hour.

[Toddsterpatriot]

Nope, we’re talking about tax rates and you’re the one who originated the rate talk

If I spend $1,000,000 of my already taxed savings, do I get a larger prebate than if I spend $10 of my savings?

[Toddsterpatriot]

and incorrectly so since many expenditures are not taxed under the FairTax

Which ones?

What about services? I don't pay a tax on my doctor visits. Will I under the FairTax?

[baybabe]

The amount they pay presently in embedded taxes on purchases is dramatically less than the rate they’d pay under the FT.

That has been calculated and presented time and again on these threads in the past and it’s a relatively paltry amount - especially so if the payer is a non-citizen since it’s the full 23% marginal rate for him.

[xcamel]

Nice spin, no banana for you though.

[baybabe]

I’m sure you know that the prebate is not linked to any expenditure of saving nor does it tax additional income from that savings.

So, you see, it depends upon how you consume - not how much. Spread it out more and you’ll pay less in taxes (and still get the same prebate).

[Drago]

I just plugged in the numbers for my wife and I after we do our planned early retirement into the "FairTax Calculator"(http://www.fairtaxcalculator.org), and the "FairTax" would result in an increase of about 19% in Federal taxes over the system we have now.  No thanks!!

[Toddsterpatriot]

I’m sure you know that the prebate is not linked to any expenditure of saving nor does it tax additional income from that savings

I know.

So, you see, it depends upon how you consume - not how much.

If I spend savings, I'd pay 30% more after the FairTax.

[baybabe]

I don't pay a tax on my doctor visits.

You certainly do, but I agree that you seem blissfully unaware of that. You've paid taxes on everything you spend there in the form of income tax.

For every $100 you pay the doctor, you actually had to earn a bit over $130 at the 28% income tax rate and pay the income tax thereon to have the $100 to fork over to Dr. Kildare.

[baybabe]

That’s no “spin” - and I don’t eat bananas.