Posted on 10/09/2007 5:27:15 AM PDT by Man50D
Ron Petrucci's Sept. 24 letter addressing Charles Firth is right on a number of points. We have been running more than an $800 billion trade deficit. That can't go on for very long. Ron says we're a debtor nation and we are.
Our manufacturing continues to move overseas to "more tax friendly" locations. We can't exist by providing each other services. Picture everyone doing their neighbor's laundry. We need to produce products to exist.
What Ron neglected to say is that the reason for that migration is our tax system. Federal taxes and associated compliance costs comprise an average of 25.9 percent of prices of our goods and services. Imported goods and services arrive at our shores essentially tax-free, because most foreign governments encourage exports by rebating their taxes at their borders. We don't do that.
When we try to sell there, they add their taxes to our prices, so our goods and services end up bearing double taxes. American companies have a raw deal both ways. That's why they have trouble competing.
There is an answer, though in the form of HR 25, The Fair Tax Act. That bill is in the House ways and means committee. It is the most thoroughly researched tax bill ever.
For the second time, a group of noted economists recently wrote a letter to Congress and the president, urging them to pass it and sign it into law.
The bill already has more cosponsors than any other tax bill in 80 years. It is a grass-roots proposal. It will pass only if enough citizens support it and tell their representatives. If passed, the current federal tax system would be replaced by a national retail sales tax applied at the final retail sale and collected by the states.
Net retail prices paid would be about the same. Revenue raised would be about the same. Collecting a sales tax is much more efficient than collecting an income tax, it provides a steady revenue flow and everyone would pay.
It needs to pass now, though, before this president leaves office, because no first-term president will entertain changing the tax system, and Social Security will run out of liquid assets at about the end of the next president's first term.
Check the proposal out at www.fairtax.org
depends on your business.
depends on the nature of your business. (tax exempt number etc)
and you never get past another sales tax auditing agency looking at your books every month. The government has a right to look at the governments record keeping.
No thanks. Fair Tax Scam is not an improvement over the current system.
If the plan is so great , why the constant lying?...HMMM?
How about proving to me that he is lying about the excise tax. What is you source for that accusation? Bet you don't have one.
Well yeah, good government is an oxymoron too.
I’d prefer to pay only 3% taxes myself.
Based on what?
The current ecomonomy?
The new plants being built?.
Theory and reality....
Many service businesses do collect state sales tax.
Secondly, if you have to total up your sales once, the second report is not much more time.
Personally I hate taxes, don’t agree with any of the spending, and would prefer to pay none.
So nothing changes, unless you don’t spend. Not a strong selling point to most American consumers...
I’d prefer to pay zero, but I like roads and the fact there are guys with big guns kicking ass for me.
Bingo...
(Hey, weren't you banned for being an idiot in another thread...)
Was that viscious little small-print tagline attempt at an insult meant for me?
The Fair Tax Scam look more and more like a newspeak owellian keep the sheep busy.
Just like the book had proclamations of increasing a 20 gram chocolate ration to 20 grams, the Fair Tax Scam is just moving things around but doing nothing.
It does not eliminate a government bureacracy. It mearly substitutes a new one. It does not reduce loopholes it only gives us new means of employeing them. It does not eliminate the success penalties it merely relocates them.
I think we are dealing with a pride of authorship rather than a pride of solution. We have a few people who are obsessed with eliminating the IRS at all costs. (ala the Scientologists) It will be easier to just change the name of the IRS so they can declare victory and leave everything alone. (kind of a Democrat surrender is victory for them)
Most states have zero service industry tax.
Very governmental of you to say how much anybody else’s business in not inconvenienced by collecting the government’s money which they are forcing into my custody.
It is a HUGE inconvenience and a HUGE annoyance. It is a liability exposure that is unwanted and unwelcome.
(...if the shoe fits....)
Should it be?
Hum....
It wasn’t for him, had it before the thread actually...
But interesting response...
You’ll get no argument from me... Think “Smegol” and “My Pretty” - up to and including the part where his obsession destroys him...
willful ignorance is bad enough, when they willfully fear-monger and create the facts to suit the agenda... that’s worse.
Ah! the voice of an expert! If anyone on this forum should know about wilful ignornce and creating "facts" it is really you.
Thanks for admitting your first-hand, personal knowledge of it. Comes from yourlong, dedicated practice, doesn't it?
Any scam that requires insulting others is about as far from the "truth" as you can get.
You're an expert on that, too, you damned hypocrite.
I refer you to your own post # 86. The pot calling the kettle blackl and lying doing it.
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.