Posted on 01/20/2008 6:29:07 AM PST by Man50D
During an election season, one of the first losers is the truth. The current misinformation campaign against the FairTax has been particularly virulent. Last month the FairTax was being panned by some columnists as a "crackpot scheme," even though it could be collected exactly the same way as its close cousin, the value-added tax, which is the most successful tax in the world. This month the FairTax is being vilified by various columnists as a tax increase for the middle class, even though it would provide a substantial tax cut for two-parent middle class families. Specifically, in a recent column, George Will asked, "Do you want a president (Mike Huckabee, proponent of a national sales tax of at least 30 percent) pledged to radically increase the proportion of federal taxes paid by the middle class?" Similarly, Time magazine's business and economics columnist Justin Fox wrote a blog piece entitled, "The FairTax and its big break for the $200,000-plus crowd."
The FairTax is a national sales tax that would replace the income taxes, the payroll taxes, and the gift and inheritance taxes. It would be a 30 percent sales tax on retail purchases. Since 30 cents is 23 percent of $1.30 (the amount you would pay on a $1 item), a 30 percent FairTax would cost you about 23 percent of your consumption. To help you pay the tax, you would get a prebate check or a debit card credit at the beginning of each month equivalent to the amount you would pay when buying necessities. In 2007, that amount would have been based upon $10,210 spending per adult and $3,480 spending per child.
(Excerpt) Read more at worldnetdaily.com ...
What does "close cousin" mean?
There’s your cheap sunglasses again!
The difference is the increase in your purchasing power.
You’re wearing the rose tinted ones.
Please describe the case(s) where the prebate would regularly exceed the amount of taxes paid.
Honestly, some of you guys remind me of children at dessert time staring at the others’ plates worried that someone might get more than you.
You FTers don’t have a sense of humor.
Are you saying that if you have more at payday and you have the option how to spend your money that is a good thing?
The FT is predicated on "to each according to their fundamental need" philosophy.
Not agreeing with whatever that was that you meant to say but I’m still waiting for your better idea.
(((crickets)))
In December of the year b4 the FT starts, is buying a year's worth of Diesel a good investment or a great investment?
Please demonstrate your clear advantage in FT understanding and tell me what the price of Diesel will be during the first year of the FT compared to the previous year.
Thanks, I need to do some planning.
Not so!
Or else we couldn’t toy with the IRS’ers so long!
Sorry, I’ve been around that Maypole too many times already.
Lowers the tax burden for most taxpayers.
Allows you to not file any income reports to the IRS (in fact, eliminates the IRS).
Makes the tax payer to be presumed innocent (period) rather than guilty until he proves he's innocent with the IT.
Raises your purchasing power.
Includes those not presently paying tax in the tax rolls (the underground economy).
Allows border-adjustable taxes of exporters to make US products more competitive.
Makes the US the world's largest tax haven.
... and that's just for starters.
So it is a bad thing?
And there are a few on this thread that seem to spend too much time at the IRS’s maypole, if you know what I mean.
Not that there’s anything wrong with that.....!
What about those for whom it isn't better? Why can't those issues be flushed out and addressed?
Yeah, it's too boring.
I'm more interested in new, fresh, FT tartare.
Don't impose the idiotic 30% VAT cousin. That's a better idea.
pssst...for some of us it is more about the opportunity to reduce the government, especially the IRS.
That is why I believe that some here will always oppose the FT, the VAT, or anything else that threatens the status quo.
You aren’t against a new tax system as much as you are for preserving the IRS and other Big Government (dare I say “statist”!) instruments.
You aren’t against a new tax system as much as you are for preserving the IRS and other Big Government (dare I say “statist”!) instruments.
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