Filo said
“I’ve already listed the flaws too many times to count. The only replies have been garbled nonsense.
In summary:
1. The FT is not tied to the repeal of the 16th which keeps the door open for sales and income tax in a few short years.
2. The FT re-taxes previously taxed savings - especially retirement savings.
3. Because of the above the FT is especially burdensome on those near or in retirement.
4. The FT has a socialist wealth-redistribution component - the prebate.
5. At 30% the FT rate is too high, especially when it only covers the federal portion of taxation. Add in the state and local taxes and the rate approaches 50%!
6. The FT fails to address the real problem (spending) and, as such, is tantamount to rearranging the deck chairs on the Titanic.”
1. The FT is not tied to the repeal of the 16th which keeps the door open for sales and income tax in a few short years.
wrong - It is now.
2. The FT re-taxes previously taxed savings - especially retirement savings.
So does the current system, because of embedded taxes.
3. Because of the above the FT is especially burdensome on those near or in retirement.
So is the current system, because of embedded taxes.
4. The FT has a socialist wealth-redistribution component - the prebate.
So does the current system, because of Earned income credits, and other tax credits.
Part of the appeal of the Fair Tax is the simplicity. The rebate, same as the standard deduction in the current system, says “OK, everybody gets a break, up to this amount.”
5. At 30% the FT rate is too high, especially when it only covers the federal portion of taxation. Add in the state and local taxes and the rate approaches 50%!
23% inclusive, 30% exclusive, is six of one, half dozen of the other. Most everybody on this website has enough BASIC math and BASIC common sense to understand that it is just different ways of labeling the same numbers. I guess there are still some intellectually challenged who see that as an issue.
Do you think the IRS cares now how much you pay in the state and local taxes?
6. The FT fails to address the real problem (spending) and, as such, is tantamount to rearranging the deck chairs on the Titanic.
Totally different issues.
Why don’t you start on a thread about “How the Government spends money” instead of “How the Government collects money”