To: RangerM
Any alteration in the tax rate hurts all equally; rich and poor alike. No more demagoguery of the evil richSo what? How will we stop a rise in the rate? The "rich" can afford - I can't. What is to stop the feds from simply taking more. The same question can be asked about any tax structure.
BTW, I pay an effective tax rate of about 10% federal. How would I save?
42 posted on
01/22/2008 4:52:14 AM PST by
raybbr
(You think it's bad now - wait till the anchor babies start to vote!)
To: raybbr
The cut off for 10% is $7,825 taxable income.
Assuming you take the standard and personal deductions (for a single person) you have a total income of (7825+8750) $16,575.
Based on the FairTax Prebate you would only pay taxes on 16,575-10,210 = $6,365. The total taxes on $6,365 is $1,464. Therefore under the FairTax system you would reasonably expect to pay about $1,500.
Under the current system, you are paying (based on a taxable income of 7825) $782.50 in income taxes, plus another $1,282 in payroll taxes (SS/M, not incl employer portion), for a GRAND TOTAL of $2,064 in Total Federal/Payroll Taxes.
You’d save about $600 under the FairTax system.
48 posted on
01/22/2008 5:02:52 AM PST by
RangerM
(Jesus was likely a very good carpenter.)
To: raybbr
So what? How will we stop a rise in the rate? The "rich" can afford - I can't. What is to stop the feds from simply taking more. The same question can be asked about any tax structure.
Why would you elect/re-elect ANY politician who hurt you financially? Under the FairTax, any polician who wants to raise taxes answers to ALL OF US, not to a minority who they can demagogue in the process as "evil" or "selfish".
Do you have a problem with a rich person or a person who has a higher income than you?
"Property is the fruit of labor...property is desirable...is a positive good in the world. That some should be rich shows that others may become rich, and hence is just encouragement to industry and enterprise. Let not him who is houseless pull down the house of another; but let him labor diligently and build one for himself, thus by example assuring that his own shall be safe from violence when built." - Abraham Lincoln
55 posted on
01/22/2008 5:11:35 AM PST by
RangerM
(Jesus was likely a very good carpenter.)
To: raybbr
How will we stop a rise in the rate? How will we stop an immigration amnesty bill?
Under the current system, there are a LOT of people who think they're GETTING MONEY FROM THE GOVERNMENT when they get their tax refund. This is because of the "pay upfront in stealth" withholding.
If you want to keep the current system, I propose we DEMAND that withholding cease, and that tax day be moved to October 31st - right before election time, you write one big check to the fedgov.
89 posted on
01/22/2008 5:55:17 AM PST by
MrB
(You can't reason people out of a position that they didn't use reason to get into in the first place)
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