Posted on 08/11/2005 7:27:51 AM PDT by GPBurdell
1944: The Victory Tax and Voluntary Withholding laws are repealed as required by the U.S. Constitution, however, the federal government continues to collect the tax claiming it’s authority under the 1913 income tax and the 16th Amendment.
It cant be any better..yet the people are so stupid and so reliant on the puplic dole they are scared that if the system changed, they might be left out of all that "FREE" money. It might be know as the greatest generation (1940s), but it is also the most greedy generation.
I have concerns about a national sales tax, although it's certain to be the lessor of two evils against the income tax. I doubt the framers of the constitution, when impowering the federal government to impose excise taxes would even recognize the concept of a consumption tax. And how would this society change when you are personally responsible for delivering-up to the government every penny on every transaction? We'll all be tax collectors.
A Taxreform bump for you all.
If you would like to be added to this ping list let me know.
John Linder in the House(HR25) & Saxby Chambliss Senate(S25) offer a comprehensive bill to kill all income and SS/Medicare payroll taxes outright and replace them with with a national retail sales tax administered by the states.
H.R.25,S.25
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.Refer for additional information:
How will you be a tax collector? Are you under the impression that you will have to write a check to the government for the NRST on your purchases? If so, as you said, you need to read the book. And the actual bill for that matter.
Taxes should be due the day before elections.
Can you answer my question in post#12
I bought it the day it came out, at Barnes and Noble regretfully. Because of FR I already knew most eveything in it but I bought it just to add to the numbers. Seems many others did, too.
You're absolutely right. Withholding is big government's best friend.
As for ending withholding? LOL. Only in my wildest dreams.
"The world is moving so fast these days that the man who says it can't be done is generally interrupted by someone doing it."
Those are excise taxes, and will remain unfortunately.
You go first! LOL
That would be bassackwards.
Since there's two sides to a transaction, it's a safe assumption that the person or company who collects the money accounts for and pays, the tax to the government.
If you take a salary from an employer, that's one thing. If you're self-employed or collecting income from investments or a retirement, an estate or a family member -- God help you.
I thought that this issue was dead. I am shocked and surprised that it has gained this much notice. Great Job!
They are withholding that information. :-)
Also, what about the Gramm-Rudman Bill that was to eliminate deficit spending? It is just being ignored, I think.
I know nothing about that and I share your healthy skepticism of the government but we are now in the best position we have ever been in to actually get something done. This is not a modification, it truly is a revolution.
In addition to the obvious advantages, think about all the financial instruments and derivatives that are based on avoiding or deferring taxes. All those can now be eliminated and we can put our money to better use in other ways.
I hate to disagree with you on them loosing their jobs but..do you think little Tommy Dashole misses his job? Nope not one bit! Because he is closer now to power than ever before as he is one of those who greases the palms of those in congress. He actually yields more power now than before-(i'm using him as an example here).
They dont give a rip..they know that as long as they skimm the coffers and give it to the people in their districts they'll be in power for ever and "we the working people" will pay.
Let lawyers in congress and they will pass laws! Why? Because its good for their business! And this tax code is the biggest boondoggle ever.
I've heard this guy and somewhat agree with his theory. HOWEVER if anyone out there believes for one second that prices on anything will go down is sadly mistaken. Margins will go up by the amount of any and all taxes not paid. Shareholders will not have it anyother way - I ain't bashing shareholders, as I am one!
Please 'splain. It doesn't matter how you make your money. Income is not taxed.
You are ignoring the greed of competitors.
Competitive market forces will cause prices to drop. All it takes is one company to drop the price to gain market share and all the rest must follow or die.
Do you not think that retail outlets will not try to drop their price to compete against Wal-Mart, Target, etc... and do you also think that Wal-Mart and others will not drop their price to stave off such attempts?
I am almost finished with this book. I strongly reccomend picking it up. (My wife got mine at Sams Club for 15 bucks)
This is an idea whose time has come. I have also frequently had that feeling that there is no way that this law could get passed. My feeling with this news is that this could possibly become a groundswell that may have results. To echo the sentiments of some of the other posts, If enough politicians get enough feedback from voters, they will realize that ingnoring the FairTax may cost them their jobs.
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