Posted on 03/08/2005 9:20:44 AM PST by n-tres-ted
Our tax code is a mess for a reason. Special interests pay for special favors. And with 17,000 pages and counting, there's plenty of places for our politicians to hide the kickbacks. Meanwhile, all the exemptions, deductions, exceptions and special provisions reduce the tax base, which means higher tax rates and smaller incentives for individuals and companies to produce income. And whether the tax breaks are set in fine print or spelled out in bold type, they generally favor the rich, making our tax system less progressive than is generally believed.
No tax system is perfect, but ours is so awful that fundamental reform is the only option. Fundamental reform is not just a necessity; it's also an opportunity to stop taxing income and start taxing consumption. My colleagues and I have been studying income and consumption taxation via computer simulations for some time now. We've found that switching from taxing wage and capital income to taxing consumption can significantly improve economic efficiency and growth. What's more, it can make our tax system much more progressive and generationally equitable.
(Excerpt) Read more at online.wsj.com ...
I KNOW you are aware of the deduction for necessity spending to the poverty level. Why would you ignore that fact?
Yet we still manage to buy all that Chinese crap at Wally World.
And the burden of taxation will fall most heavily on those on the lower rungs of the economic ladder because they must devote a larger proportion of their earnings...
So what? At least with the Fair Tax they will actually pay something. The freeloaders in America have to go. You also fail to mention that said "poor" would be keeping that whole paycheck every week. You think they're just gonna sit on that money?
this tax is regressive and you are naive if you think that the government is going to allow ANYBODY to pay less taxes. it opens up a new pocket got the government to pick.
the rich who spend less of their total incomes will pay less, and that amount woulr have to be made up by the lower income groups who spend more of their total incomes. you're squeezing the middle class and placing aa virtual halt on consumer spending.
the "fair tax" is a misnomer and will (not may) doom our economy. The poor end up subsidizing the rich.
This was on top of all coprorate and earnings taxes. Apples and oranges.
How would this change by replacing income and payroll taxes with another sales tax, since the FairTax is revenue neutral?
It is not disimilar to a 21st Century eco-feudal system where the corporate aristocracy invest and expand their property holdings completely tax-free, while the serfs are overburdened with the excessive taxation on consumption and persuaded that it's supposedly "fair" because the consumption taxes are redistributed through the formal social welfare system.
Ward? Is that you?
Do you really, in your heart-of hearts believe that the government will always send you your refund check? Do you really think that Dems will "reimburse" all or just those they favor?
This is like taking the 2nd Amendment out of the Constitution, on a promise from the Democrats and RINO's that they will put the RKBA into federal law, so the states wouldn't regulate firearms. Would you go along with that?
two points: how long do you expect those items you claim are exempt to remain exempt?
secondly, the more you exempt the higher taxes you must impose on non-exempt items.
if you want to destroy the middle class, this is the way to do it.
already with the "exemptions/rebates! how long before the politicians errode those "reimbursements" into nothingness?
Why do YOU ignore that I explained how your "deduction" is distributed as cradle-to-grave "rebates" from the Social Security Administration.
Have to misstate my assertions in order to have something to dispute?
Correct. If you do not wish to pay taxes, buy used. Simple as pie.
You see 'tard, there are folks here that actually enjoy seeing the producers and achievers in America get stuck with the burden. For some reason they believe achievers should be the keepers of others. I do not understand or tolerate this mentality in the least. What's mine is mine, and no one has the right to pilfer my production at the point of a gun. This is why voluntary taxation is absolutely the only morally and logically acceptable means for funding government.
Bump for the NRST NOW!!!
You're mixing apples and oranges.
You're referring to a VAT and I'm talking about a NST.
Mfg's would not be responsible for NST, only the retailer who sells the merchandise.
If you eliminate a companies' income tax, you lower their cost of operation...hence more American companies are more competitive with imported goods .
Oh, so you characterize it as cradle to grave, so we should ignore the fact that it's a rebate for taxes paid on necessities to the poverty level.
See this thread:
http://www.freerepublic.com/focus/f-news/1355031/posts
I was under the impression that one of the advantages of an NRST would be to eliminate "exemptions".
Cordially,
If you're paying 23% sales tax for a widget, and you earn $30,000 per year, the sales tax is taking a bigger bite out of your income than if you earn $100,000 per year. That's regressive.
Yep, the shills don't like exemptions one bit.
I've also suggested lowering the tax rate instead of offering rebates. (Rebates are taxpayers money the government shouldn't have taken to begin with.)
The shills don't like that either, since it interferes with their ability to make people dependent on that monthly welfare rebate check.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.