Posted on 09/30/2017 7:45:37 PM PDT by Tolerance Sucks Rocks
I’ll believe it when I see it. I am not optimistic. We have too many RINOS that can’t find their way out of a wet paper bag.
And let’s not forget the RATs who whine about “tax breaks for the rich”.
Maybe, at best. How many pages is the bill?
I do not want to see upper middle class people get gouged.
Small businesses need to get the same 20% rate that corporations get.
I agree.
The tax rate for poorest Americans is now 10%. Under the new plan that rate will be 12%. That’s a 20% tax increase on the poorest Americans.
No matter that those poor Americans have many (legal) ways to avoid paying any taxes at all. The optics are terrible! The left will say that the GOP wants to raise the tax rate on the poorest Americans. And that statement will be correct.
Why the GOP wants to raise tax rate on anyone, let alone the poor...that’s just beyond me. It’s stupid. Leave that lowest tax bracket alone at 10%. Better yet, reduce it a bit. That’s how you win friends and influence people.
The standard deduction will nearly double. That should hopefully make up for it.
☑
> The standard deduction will nearly double. That should hopefully make up for it. <
It probably will. But that won’t change the headlines: “The GOP wants to increase that tax rate on the poorest Americans by 20%.”
And that headline would be true. As I noted before, it’s terrible optics, and a very stupid move. The working poor should pay something. Everyone must have skin in the game. But any GOP tax plan should make this crystal clear: We respect the working poor.
THESE IDIOTS!
SAME OLD, SAME OLD SONG AND DANCE!
KABUKI THEATER!
LIARS REARRANGING DECK CHAIRS ON THE TITANIC!
WILL NOT WORK!
ARE WE READY FOR A TAX REVOLT?
DO YOU REALLY WANT TO DRAIN THE SWAMP?
REPLACE THE INCOME TAX WITH THE FAIRTAX AND ABOLISH THE IRS!
DOING THAT WILL DRAIN THE SWAMP!
</rant>
Congress and POTUS are about to screw up a GRAND OPPORTUNITY to replace the income tax with the FAIRtax and ABOLISH THE IRS!
The FAIRtax is a much better tax THAN ANY INCOME TAX! As the name implies, it is fair to everyone, because it treats everyone with absolute equality.
FAIRtax will replace the Communist Manifesto inspired “progressive” income tax with a single rate National Retail Sales Tax applied at the point of retail sale.
The Internal Revenue Service, perhaps the most hated agency in the Federal government, will be abolished!
Companies and states will be reimbursed to cover their cost of collection.
April 15th will become just another nice spring day!
And, a clever prebate system ensures that every family will be able to purchase the necessities of life tax-FRee.
Please take the time to read all about it at https://www.congress.gov/bill/115th-congress/house-bill/25.
Please urge your Congressman to co-sponsor H.R. 25, and both of your Senators to co-sponsor S. 18. We can do this, but we need to keep the pressure on Congress and the White House!
We will never be a FRee country so long as we have a progressive income tax and an IRS!
To find out how you can help us rid the USA of the income tax and the IRS, go to https://www.fairtax.org.
NOTE: If you would like to be removed FRom the FAIRtax ping list, please FReepmail me.
AND, if you would like to be ADDED TO the FAIRtax ping list, please FReepmail me.
“I’ll believe it when I see it. I am not optimistic.”
Ordinarily, I’d be right there with you, but recent unpopular votes by the RINOs have caused them significant heat..... Since they’re fiscally irresponsible anyway, (allowing Obamacare to remain), they will have no scruples with passing a tax initiative to take away the political heat they are currently experiencing, even if they don’t like it.
Though I must admit, John McCain never ceases to disappoint!
The FairTax (no space between Fair and Tax) is indeed a vastly superior tax code in every respect.
But it will take an Article V application of state legislatures to first repeal the 16th, then Congress will have to enact some sort of replacement code and that would easily be the FairTax code.
But the first step is not to repeal the 16th, it is to first REBALANCE the Constitution. Read here the short essay and especially #31, #35, and #39:
http://www.freerepublic.com/focus/f-news/3589590/posts
Not that much reading above but this is more palatable to state legislatures, and once the rebalancing is done, the voters have a hold on their state legislators which means a pathway towards repealing the 16th.
Probably not. This article is poorly written.
If the starting point for the 12% bracket is higher than the starting point for the 10% bracket, that means a tax reduction for those earning little money.
Also, if state taxes are no longer deductible, that means that high-tax liberal states like NY and CA and MA, etc. will be paying more federal income tax.
Also, immediate expensing of capital investment will lead to distortions in the the market, probably resulting in substituting capital equipment for labor, pushing down wages.
The best thing would be to repeal the 16th Amendment, but until that happens, this proposal is probably good on balance.
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