Posted on 08/15/2012 10:58:20 AM PDT by Hostage
Would you take just four minutes to help our cause?
We need thousands of Americans to discover the FairTax video, and the way we do that is to rapidly get as many views on YouTube as possible. The more people that view it, the more prominently it will be displayed. Would you help us by immediately viewing the video so it goes viral across the internet? Please note, you will only be counted if you watch it to the end.
To transform our economy and to get America working again, we need your friends to join our efforts to replace the income tax system with the FairTax.
Please share this video with your friends on Facebook, and send them a personal note, email or text asking them to watch an important video at www.fairtax.org/video.
With gratitude,
Cynthia T. Canevaro Campaign Manager Americans For Fair Taxation
You didn’t read my post. The great majority will shop online, from non-taxed countries. Purchasing will shift out of the US and we will be chasing cheater consumers just as the IRS now chases cheating earners. And, who exactly will it be that doesn’t tolerate tricks? The IRS, the Customs dept., the Coast Guard. A consumption tax is simply the mirror image of an income tax. We need to capture a small amount in both directions.
Of course they won't become beach bums...they will become internet bums. Buying online from non-tax countries will shift our consuming economy offshore, much the way income earners shift it.
Probably half of Hollywood has a Consulting/Advising Co. located in a Cook Islands country where the IRS has no access. The Consulting company charges the actor/actress 75% of their income to keep them current and in vogue. The actor/actress deducts the fee and pays little or no tax. Check Sean Penn if you think this is not going on with Venezuela. Most of the 67,000 pages of tax code is written to stop this, but it still persists.
You will get exactly the same thing (in reverse) if you eliminate the income tax and rely solely upon a consumption tax. We need both, with lower rates.
“The FairTax does HELP with spending by making federal tax revenues transparent.”
You could be right, but I really don’t think it would have any material impact on spending.
>”The majority of the politicians in Washington don’t want to fire up the economy so the fair tax has no chance.”
To be clear you mean to say the FairTax has no chance among the political class of the Beltway. This is true but it’s amazing how these clowns start to tap dance to our tune when we threaten their political viability.
The FairTax is the largest tax reform by more than tenfold among the political class. There is no other tax reform that even comes close to the number of sponsors in Congress held by the FairTax. This large number of congressional sponsors is even larger than the number supporting Ronald Reagan’s 1986 tax reform. So it is not a fringe movement. It is big stuff.
It is Wall St. that stands in the way of the FairTax because Wall St. has worked for decades to get all skids greased for their 401k and deferred retirement plans which is essentially dead money made into play money for the greedsters on Wall St.
Under the FairTax there will be no need to defer retirement income under IRS rules to Wall St. 401k rackets, because there will be taxing of income period.
Right now Wall St. has a near mandated gravy train of play money driven by people wanting to put away retirement funds under a number of tax deferred schemes. Under the FairTax we ruin their dollar utopia.
But there are not that many of them compared to the rest of us. All that needs to be done is get the word out and get people educated because there is one hell of a lot of disinformation put out by the NY financial press as surrogates of Wall St. investment moguls against any tax reform that threatens their fiefdoms.
That’s really the crux of the battle:
Wall St. and their minions on K St. against the American people.
But history shows that when Wall St. loses battles in Congress they are pretty good sports and they cut their losses including their power. But damned if they don’t know well how to come back from the dead for a resurgence of bubblemania and influence inside the Beltway.
STUDY UP!
http://www.fairtax.org/site/PageServer?pagename=about_faq
If someone has your credit card and you suspect they are spending past the limit you set for them, what is the first thing you look at?
You look at their spending but what if they tell you “Oh but I paid that back already”.
So they confuse you and now you will need to see an accounting.
And what side of the accounting ledger is just as crucial to accounts payable? It’s account receivables.
And that’s where the FairTax is handy because now they can’t lie and say “Oh but I paid that back already” because it’s so clear what the revenues are.
This is how you get control of spending, by first defining what the budget revenues are.
As it stands now, the spending issue is clouded by lies of revenue, or projected revenue, or double accounting revenues, or fiscal tricks etc.
The FairTax is an essential part of controlling spending by removing the ability to lie about revenues to justify profligate spending.
The other essential part of the reform of spending is the Federal Reserve which is the Credit Card of the United States, a credit system whereby credit limits are increased at whim.
But any spending reform without revenue accounting reform is DOA. And the FairTax is the best revenue accounting reform proposal par none.
>”The great majority will shop online, from non-taxed countries.”
Online retail transactions are easy to track and tax. Every retail purchase made for outside foreign goods that are destined for the USA will be taxed at the FairTax retail rate.
Under the FairTax there will be never be a simultaneous income tax and sales tax, only a sales tax to replace the income tax. A simultaneous income and sales tax will never be allowed as evidenced by the crash of Cain’s tax plan.
It may put hundreds of thousands of people out of work only to put millions of people to work. I am fine with that.
I have studied it. It would not only set this country on fire and have many companies around the world chomping at the
bit to get here, it is also a moral tax code being voluntary. I think it would be the greatest thing since the founding and the ending of slavery. I just don’t think it has a chance of being implemented in the current philosophical climate of the populace. That could change of course and it would require a massive education campaign.
Not so. The state of AZ has resorted to asking the taxpayer to fess up. Tracking online purchases is extremely difficult.
And, the lack of a simultaneous income tax & sales tax is exactly the problem with the so-called "Fair Tax". Those who consume within the US borders are targeted just as those who earn are now targeted. We need both.
I'm curious about this response... no sarcasm intended at all! =)
The FairTax is a consumption tax. Of course, if someone choose to make their money in the US and live overseas, they wouldn't be paying into the system. But imagine how extraordinarily difficult it would be to manage such a trick for one's entire existence. Also, for those who continue to live here, it's very hard to buy a house through the internet (the delivery is a beee-yatch!), one of the big-ticket items for the wealthy.
Since the FairTax structure does away with those "167,000" pages, it becomes much easier to track down any big-ticket tax avoiders if they are truly doing something illegal. From my recollection, imports are subject to the FairTax so there is no advantage to buying a yacht overseas, especially if the pre-FairTax price on both is cheaper in the US.
It's not designed to. In fact that point is covered specifically on the website and the books about it. It is solely designed to make revenue collection transparent, more fair, resistant to tinkering (aka choosing winners and losers), and set the stage where people can make informed decisions about reducing spending. Tax breaks are the BIGGEST method of giving your friends a handout... this far dwarfs every pork barrel project and 'Bridge to Nowhere' scheme because it doesn't show up on the spending side of the ledger. Just removing that corrupt power will automatically bring some spending reductions as a side-effect of transparency. If someone wants pork, they'll have to get a vote to put it into place!
The Fair Tax is a consumption tax ONLY. And, the consumption will occur over the internet, not by physical travel. Homes will become exempt (notice, here we go again), because the poor little family forced to move six times for job relo will squawk to their congressman and, oops, the "Fair Tax" is now as complicated as the income tax.
"Since the FairTax structure does away with those "167,000" pages, it becomes much easier to track down any big-ticket tax avoiders if they are truly doing something illegal."
And, no, there is not 167,000 pages. It is about 67,000 pages and about 66,750 pages of that is about stopping Honda from using transfer payments to reduce its domestic income to zero. The actual tax code for a normal family is currently about 50 pages. If you involve yourself with exotic transactions, you will enter into that more complex world, also, but this is about 3% of the population.
If the IRS is dissolved (according to Fair Tax folks), just who will police that Yacht being brought in? The Coast Guard? The DMV? And, if you don't think the rich can get their products brought in without detection, you are not paying attention to the drug trafficking.
We need both.
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