Posted on 08/18/2011 11:21:36 AM PDT by bthockey
For the past couple of weeks, I've been looking into the Fair Tax, a tax law that is picking up a lot of momentum since many GOP candidates, including Herman Cain, support it. For those who don't know what the Fair Tax is, it is essentially a national sales tax of 23%. Even though that might not sound too pleasing, what makes the fair tax so great is that it abolishes all other federal taxes. Income, capital gains, and payroll taxes would all cease to exist.
To bring support to the Fair Tax, which I believe is much better than our current system, I created a list of 4 reasons why you should support the Fair Tax.
(Excerpt) Read more at thebandofpatriots.com ...
It IS a good thing!
It allows people at the bottom the ability to better themselves and break the cycle of poverty as opposed to the current system which tries to lock folks in to their current circumstance!
And don’t be confused! They would always be paying at the retail level. The tax, up to poverty level, is rebated for everyone!
I agree. I have a real problem with the “prebate” concept conditioning people into getting their monthly government check. And there would have to be a massive government bureaucracy to administer it and keep track of everyone. I think it would be much better to exempt necessities such as food, articles of clothing costing under $50.00 and medicine.
That would cancel out all the whining about the “poor”.
I also like the flat tax concept but what about those who don’t have earned income but plenty of money, like Buffet.
The corporate income tax is a VAT, and we have the highest in the world.
Corporations that donate to Democrats, like GE, are exempt, of course.
In the absence of substantial tax and regulatory reform..we’re done for. This is one arm of the solution.
Yes, that is a big issue! we need to do away with a lot of so called entitlements...entitled my butt! Then we can have a national sales tax of maybe 5%? We do already have federal sales taxes on tires, phone bills, gas, etc...don’t really know why we need anymore? The barbarians are running the country. We will defeat them eventually.
Currently under the income tax if you make $100,000 and pay $20,000 in tax we say that is a 20% tax rate. If we want an honest comparison that is how we have to look at the sales tax as well. With the Fairtax in place $.23 of every dollar spent on a new good or service would be tax. A 23% rate.
No matter HOW you figure it it remains The exact same amount of money!
http://www.fairtax.org/site/News2?news_iv_ctrl=1541&page=NewsArticle&id=8248
Do you want to be very low-taxed, prosperous, productive citizens in a country that acts as a beacon for individual liberty?
DEFUND socialist collectives, foreign and domestic.
If we want an honest comparison that is how we have to look at the sales tax as well.The rate was never intended to be a "comparison" (except in your mind) to the consumer's income tax. Comparing sales tax rates to your income tax is DISHONEST. The rate in the law is written for the business and in that case THE FAIRTAX DEFINITELY IS AN INCOME TAX...Total up your gross income, send 23%. No business or individual pays income tax on their gross income. Again, the comparison IS DISHONEST.
You would only want to "compare" a sales tax to your income tax if you were trying to dupe the public. Anything other than comparing sales tax rates to sales tax rates is DISHONEST. With the Fairtax in place $.23 of every dollar spent on a new good or service would be tax. A 23% rate.
But not before the 30% tax is added.
Sales taxes are expressed as a percentage ON. Income taxes can only be expressed as a percentage OF. Trying to compare the income tax as anything other than a percentage OF is mathematically possible AND trying to compare a sales tax as anything other than a percentage ON is DISHONEST.
Here's a question people ask themselves when they find out about your deceptive rate: If you're lying/deceptive about the rate, what else are you lying/deceptive about?
If you want to see why the Fairtax never gets anywhere, look in a mirror.
The FairTax:
Enables workers to keep their entire paychecks
Enables retirees to keep their entire pensions
Refunds in advance the tax on purchases of basic necessities
Allows American products to compete fairly
Brings transparency and accountability to tax policy
Ensures Social Security and Medicare funding
Closes all loopholes and brings fairness to taxation
Abolishes the IRS
Refunds in advance the tax on purchases of basic necessities
It certainly didn’t take long to come up with the first exemption did it? After this one, there will be many, many to come as Congress screws with the bill to ensure their reelections.
How? Does Jim Smertz who only spends $15,000 a year in the purchase of goods get the same retirement as Bill Poof who purchases $45,000 worth of goods a year? How would the government know who spent what??????????
Well, the answer to the Social Security question would have to be the same-old-same-old thing as the current IRS paperwork and proof.
The Fair Tax does away with the payroll tax and the IRS. It also includes a monthly “pre-bate” up to the poverty line to keep it from being oppressive to the poor.
IS THAT A FAIR TAX? HELL NO! It means us working stiffs still have to pay for the 40% who don’t pay any taxes today and sponge off us with the welfare system. You change nothing...nothing at all.
You must believe in Unicorns and Obama.
Lewis I know you have this little problem with numbers but one more time!
When the fairtax is law and you buy an item that costs $10 out the door the receipt will show that the item cost $7.70 and $2.30 was tax! 23% just like I said.
One more time FRiend! You don’t know what you are talking about and are embarrassing yourself!
The 23% fairtax includes social security and medicare and NO ONE will ever pay the full23% because of the prebate.
Your social security wages will continue to be reported to the social security administration just as they are now.
Agreed. The Fair Tax will create the largest Black Market of all time. A flat tax is the only enforceable solution.
I do not think the Fair Tax means what you think it means.
When the fairtax is law and you buy an item that costs $10 out the door the receipt will show that the item cost $7.70 and $2.30 was tax! 23% just like I said.$10.00 is still a 30% increase over $7.70, but hey, keep it up.
Like I said. If you want to see why the Fairtax doesn't go anywhere, look in a mirror.
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