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
BTW: It’s almost time for you to call me a Nazi. you’re slipping.
His business depends on the Income tax. That’s why he always appears on these threads and puts out BS. No matter how many times his comments are shown to be BS it doesn’t matter to him because he feels threatened by anyone that talks about replacing his Income tax.
There will be alot of people having to find new work when the FairTax gets enacted. But there will be plenty of new work.
I’m thinking avocado is in the same boat -
you folks that depend on the income tax system for a living are sort of like lawyers and other liberals. You add nothing to the GDP.
Your ‘proposals’? You mean your comments. Your comments are certainly fair game for discussion.
Your analysis is circular and opinionated. It is not supported by facts, data and research. It is ‘hot air’.
Let’s try to get past step one shall we? You first mentioned that in America ‘the entire boatbuilding industry disappeared’. Let’s see you back that up. I know you can’t but that’s the point.
Yapping Mollusk was too high a grade to give you.
I have never called anyone a Nazi on any website.
They still haven’t fixed the gaping holes in the bill, I see.
Too bad. It might work okay if someone would get a clue.
Yep, blockhead -- there are a number of intelligewnt folks here, who, unlike you, are non-socialists, who are non in love with our present unconstitutional, thieving, punitive, unequally enforced, discriminatory, uncontrolable, only partially collectible, vote-buying tazing scheme, and who believe in an equally applied tax system.
Yep, it's back -- and the fact that you haven't the intellect tounderstand it, is not our fault. So why don't you spare us further repetition of your oft-posted untrue and twisted crap -- unless the DNC has furnished you with some new swill to vomit.
..said like a real 9/11 truther...
well if you cannot get past the name calling, then why discuss.
"Net retail prices paid would be about the same."
The article was pretty good until they had to throw that whopper in.
You have proof to the contrary? How about sharing it with us?
But the black market in untaxed goods will make our current failed drug war look like a success, so at least there’s that positive aspect.
BS. Third world wages are why manufacturers are moving overseas.
are (sic) you paid to keep pushing this swill?
How much is the DNC paying you to be so dumb and iron-headed?
Let your Ox out to pasture already
You think these bozo’s in Washington are gonna give up a good thing? Yep. If the American people get off their butts and get behind it. If they don't, we can sit around and watch the socialists send the rest of our inductry leave the country and our republic end up in the dust bin of history.
Federal taxes and associated compliance costs comprise an average of 25.9 percent of prices of our goods and services.If 25% of the total price is tax costs already paid it sorta makes you wonder how 50% off or even 25% off sales are possible.
Keep spouting your mantra.
an ENTITLEMENT PROGRAM means special breaks for people of different catagories - usually calibrated on one's income.
The prebate goes to each and everyone regardless of income as a tax cushion to absorb the sales tax for the first 20K or so, dependent ONLY on the number of people in the household.(except the illegals - they don't get the tax buffer...sounds good to me. The millions of illegals will finally be paying taxes and at a greater rate than the rest of us)
But I suspicion you know this - I suspicion you either have a vested interest in keeping the behemoth IRS choke collar around our necks or you're simply - or deliberately? - obtuse.
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