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 ...
2) annual tuition payments made for education...."
How is this NOT an exemption of a good or service from the FT?
How is it different from going to the Dentist?
What does the word "annual" (as used here) mean EXACTLY?
Oh, that's right, some claim you're an Academic (b0t).
No, to compare YOU need to show examples of a range of people born at different times before the FT over their life under both (or more) tax scenarios and give a NPV comparison. This rate comparison is way too simplistic. For those of us not math challenged, it should be trivial (and no - "it's left as an exercise for the student").
Doesn't include all the laws yet to be passed by the States to accommodate this.
Also note that the current IT, FICA & Medicare legislation was built in a day. The FT code page count is likely to be expanded greatly over the years. That's what we have a full time (cough, cough) Congress for!
This meme is hopelessly naive.
Was I talking to you? No.
Was I talking about you? Not that I know of.
This is an abuse as far as I'm concerned.
Try aiming before you fire. In the future, I just won't respond to such trolling, just call Troll.
Troll, you are publishing in a public forum that is searchable in Google and you don’t want outside input? Dream on.
Apples and oranges.
It would be progressive if the tax rates increased as the income levels increase, as they do under the current system.
Personally I believe that everyone should pay some taxes, even the poor, but that isn’t a popular idea.
Our current income tax is progressive ala Communist Manifesto; the sales taxes aren’t.
If the best you can say is that the poor get a bigger break than you do, then maybe you should offer to trade places with them, but somehow I don’t see that happening.
Yes, but it's smaller at the point of sale since it's collected at each stage along the way. The Fair Tax is a one-time tax at the point of sale and is therefore large.
Are you opposed to tax reform? ( Did I mention “Fair Tax”?)
There’s a positive correlation that those on this thread that oppose tax reform (keeping the IRS and income tax) seem to also support the War on Drugs and gun control.
Do your feet fit those shoes?
BTW, Read, Fire, Aim! applies much more aptly to someone’s first or second post on a thread. Get with the program, ok?
Just wondering, exactly what about our current income tax system to you like best?
Or is there any other plan out there that you support?
Non comprehending Troll.
Comprehending would be inclusive of reading comprehension and concept comprehending and lexicon comprehending.
Conceptions and intricacies are totally different.
IMO, since the FT publications are out there and you seem to be an economic guru it would be up to you to debunk what the authors wrote instead of demanding that supporters rewrite the plan for your benefit.
C’mon, you have problems with the plan, prove that you’re n ot conceptually challenged by using, say, some math equations, logic, etc.
You seem to wanna play the tax technician, show us with math that the Fair Tax claims are wrong.
I’ll admit that I can’t do it.
So either show you can or admit you can’t.
I'm not referrring to the poor filing a 1040.
The poor are paying the embedded (or hidden) taxes in everything they buy today. The retail price of a product or service today contains corporate and employee taxes. The poor are not receiving a prebate today to offset these taxes.
The Fair Tax (supposedly) makes these hidden taxes visible so people see exactly how much they're being taxed. Right? Isn't that what we're being told?
So why do the poor (and the rest of need) need this prebate to offset some of the taxes? Well, we know why. And we ain'y buyin' it.
It ain't fair until it is fair for me, too. Is that too hard to comprehend?
If you hire a self-employed person to cut your grass for $100, how much of that $100 does he send to the federal government in FICA, Medicare, and withholding? Those taxes represent the hidden taxes YOU pay today -- your grass cutter merely forwards YOUR money to the federal government.
The Fair Tax eliminates these hidden taxes and makes them visible as a separate line item to you, the consumer, does it not? This is Basic Fair Tax 101. Why are you being so obtuse? YOU should be telling ME these things.
Mojave's question to you remains unanswered. Why aren't the poor getting a prebate today to offset these hidden taxes?
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There also seems to be a comprehension issue with the concept of progressive taxation.
It's better to engage on factual points and just move on when it becomess a repetitive troll attack.
But you already knew that.
Ohhhhhh. You're going to spend it?
I think baybabe thought you were going to leave it in the bank forever. Or burn it.
Getting into a he said/she said 23/30% discussion/argument can be fun, but is really unsatisfactory in the long run. It's a detour to the mud/pig wrestling pavilion.
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