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Locked on 02/18/2008 10:17:33 AM PST by Religion Moderator, reason:
Childish behavior |
Posted on 02/16/2008 3:30:21 PM PST by xcamel
One solution to the nation's long-term fiscal problems that has gained support in recent years is the idea of replacing all federal taxes with a 23 percent national retail sales tax called the FairTax. Unfortunately, the administrative problems inherent in this proposal make it impossible to take seriously, says Bruce Bartlett, former deputy assistant secretary for economic policy at the U.S. Treasury Department.
For example, under a FairTax scheme: A worker now netting $800 per week would immediately get a $200 raise and start taking home the full $1,000 gross wage that he is paid; instead of paying income and payroll taxes, workers would pay their taxes when they buy things.
The FairTax would impose a 23 percent tax on all goods and services (this is not really correct, but for now we'll accept it at face value for analytical purposes).
Whether he is better off or not depends on what his effective tax rate is: Assuming he spends all his income and no more than that, he will be no worse off if he now pays 23 percent of his income in taxes. That is, his effective tax rate is 23 percent; in this case, the FairTax is a wash, the worker is no better off or worse off in terms of taxes than he is now.
But what if the worker is now paying less than 23 percent of his income in federal taxes? In this case, he is clearly worse off, says Bartlett: The prices of the things he buys will rise by more than his income rises from the elimination of income and payroll taxes. Conversely, if one is wealthy and in a tax bracket above 23 percent, that person would be much better off. His income and payroll taxes would fall by much more than the prices of goods and services he consumes would rise.
Source: Bruce Bartlett, "Why the FairTax Won't Work," Tax Notes, December 24, 2007.
For text:
Plus how about state income, state sales taxes, and county taxes? Maybe they should just take all our income and supply us what they think we need to live on?
YAWN ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
That's the sound of America's take on the "Fair Tax" cult?
FT logic in a nutshell.
Liar.
Read the book.
That's nothing new -- so is everything else about the Fair Tax.
The President’s Advisory Panel for Federal Tax Reform cited the rebate as one of their chief concerns when analyzing their national sales tax, stating that it would be “the largest (entitlement program) in American history”, and contending that it would “make most American families dependent on monthly checks from the federal government”.
http://www.taxreformpanel.gov/final-report/TaxReform_Ch9.pdf
They're already trying that.
That's one of the thiings the FT is tryig to put a stop to -- buy shining the light on some of the taxes the government is hiding from the people ans helping them understand just how much the government is stealing from them.
Ho Hum -—— Read the book.It's only a bible to you guys.
For the rest of us it's just a book written by a little known hick radio host that he's obviously never bothered to do research on before writing it...
Boortz is Linders sock puppet
See post #371.
And quit trying to make trouble.
Oh it could get worse. Have you ever been to Europe?
By establishing the largest entitlement program in human history.
buy = by
ans = and to = too
Liar
Proof positive that the only defense of the INCOME TAX is incessant blistering personal attacks.
The President’s Advisory Panel for Federal Tax Reform cited the rebate as one of their chief concerns when analyzing their national sales tax, stating that it would be “the largest (entitlement program) in American history”, and contending that it would “make most American families dependent on monthly checks from the federal government”.
http://www.taxreformpanel.gov/final-report/TaxReform_Ch9.pdf
HAHAHAHAHAHA!! That’s too dumb to comment on. HAHAHA
Did you do a census last time?
Did you open an IRA/401k EVER?
Do you have a drivers license?
Are you licensed as a contractor?
Do you have kids in school? Do you have a bank account?
Do you buy things at the grocery store and use your club card?
Do you get emails?
Do you buy and sell stocks?
Do you own real estate?
Do you have CREDIT anywhere?
$100 buck and your name and address and I can find out all of that about you in less than an hour. No sir your privacy issues is a nonsequitor.
“the largest (entitlement program) in American history”
More specifically, a lot, and on some threads most, of the 'posted replies' are xcamel and yourself. In addition, it doesn't take much reading to see who starts most of the vitriolic personal attacks.
Mo betta?
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