Posted on 04/15/2002 3:05:52 PM PDT by vannrox
No tax on the first $34,000. 17% on everything above that. No deductions. Now THAT I can live with!
Isn't a retail sales tax kinda regressive since low income folks will spend a greater percentage of their income on stuff that will be taxed?
Regarding Mr Armey's plan: Looks good. What about capital gains? What about tax-free municipal bonds? They're needed to fund infrastructure.
Let's make April 16 Election Day!
Low income folks would probably be taxed less under a sales tax system because the essentials--food, shelter, utilities, etc. the stuff they really need would be exempt from the sales tax.
"A flat tax is still an income tax. It does not get rid of the IRS. You (and every other taxpayer) would continue to pay "protection money" to the IRS mob under the Flat Income Tax.
OTOH, the National Retail Sales Tax will abolish the IRS. You will no longer pay "protection money."
Here is the logic: You will pay taxes in accordance with how much you consume, not how much you earn. You will be in control of how much you consume. Therefore, you will be in control of the amount of taxes you pay:
Not the Congress. Not the IRS. You!
Oh, be kind. I've always been a Libertarian, and I used to like the Flat Tax pretty well.
Until one day, listening to Rush Limbaugh, I had my "Come To Jesus Experience" (an old and beautiful Rebel Southern expression for undergoing an intellectual epiphany) when hearing a nice young lady anti-Corruption lawyer complaining about the hundreds of hours of lost productivity they were experiencing from having to answer yet another entirely-baseless Clinton Administration IRS audit of their Conservative lobbying group.
It was then that I finally realized... the Flat Tax may be "fair", but the TAX-MEN will still be jack-booted political sycophants of the Ruling Power.
At least with HR 2525 (the NRST with family-size rebate, which is the "version" of the National Retail Sales Tax which I favor), the Tax burden is devolved to the individual States -- no Federal IRS at the Personal level at all. Combined with a $200 per-month, per-child "tax rebate" for the working poor, and the elimination of the viciously-regressive Payroll Tax, the NRST as envisioned in HR 2525 proposes a Tax Plan every bit as "fair" as the Flat Tax... with NO PERSONAL IRS riffling through your personal files at the pleasure of the King.
So maybe you should say, "Fiscal Conservatives who favor the Flat Tax just haven't had their 'Come to Jesus' moment yet, financially speaking".
That was true of me, anyway.
Best,
OP
God bless CHIEF and his family, in memoriam
Whaddaya mean "just" ??? It's really important! Thank you for what you do!
1. individual purchases house.
2. business purchases house, rents to C.E.O., major stockholder, or other connected party.
3. business purchases house and rents to unrelated party.
4. individual makes purchases for home office/no business connection (computer, file cabinets, etc.)
5. individual makes purchases for home office/business connection (computer, file cabinets, etc.)
6. business makes purchases of the above items
7. individual purchases stock for investment
8. individual purchases rare art for investment
9. individual buys car
10. company buys car as perk for executive
11. company buys car to use in deliveries
12. company buys delivery service to make deliveries
13. company buys insurance to protect against planes flying into building
14. company buys currency derivatives to insure against adverse decisions of central bank
15. company hires outside catering service to run cafeteria.
16. company hires employees to run in-house cafeteria.
If you want to see something pathetic, check out the tax rate schedule in your 1040 booklet. If you earn between $5.00 and $15.00, and you are single, you owe the government $2.00. Only the Democrats would take $2.00 from a man who earned $5.00 for the year!
1. individual purchases house. -- Pays NRST
2. business purchases house, rents to C.E.O., major stockholder, or other connected party. -- Company does not pay NRST, renter pays NRST on rent each month
3. business purchases house and rents to unrelated party. -- Company does not pay NRST, renter pays NRST on rent each month
4. individual makes purchases for home office/no business connection (computer, file cabinets, etc.) -- Pays NRST
5. individual makes purchases for home office/business connection (computer, file cabinets, etc.) -- Does not pay NRST
6. business makes purchases of the above items -- Does not pay NRST
7. individual purchases stock for investment -- Pays NRST on broker's fee only, not value of stock
8. individual purchases rare art for investment -- Pays NRST
9. individual buys car -- Pays NRST
10. company buys car as perk for executive -- Does not pay NRST
11. company buys car to use in deliveries -- Does not pay NRST
12. company buys delivery service to make deliveries -- Does not pay NRST
13. company buys insurance to protect against planes flying into building -- Does not pay NRST
14. company buys currency derivatives to insure against adverse decisions of central bank -- Does not pay NRST
15. company hires outside catering service to run cafeteria. -- Does not pay NRST
16. company hires employees to run in-house cafeteria. -- Does not pay NRST
The LSM bastards will oppose the Flat Income Tax because it eliminates the "From each according to their ability, to each according to their need" class warfare argument that undergirds the LSM bastard philosophical scheme. In other words, if they buy into the FIT, they will have effectively shredded the entire Marxist philosophical argument.
[IMHO, by the way, until we successfully bury that BIG LIE in the ash heap of history, we are going to have a great deal of difficulty enacting any form of proportional tax.]
The LSM bastards will oppose the NRST because it places the citizen in primacy to the government, and that, too, flies in the face of Marxist philosophy. The LSM bastard inspired 16th Amendment to the US Constitution effectively made slaves out of all Americans; prior to 1913, Americans were the masters and their government was the slave. Since 1913, the reverse is true. The income tax is a slave tax, and it is a slave tax by design and intent of its supporters.
The good news is that the American public is divided into roughly thirds in their support for the FIT, the NRST and the PIT, respectively. What that means is that 2/3 of the American public support a flat rate consumption-based tax system. All we have to do is convince the 1/3 of the public who support the FIT that the NRST is much better.
The bad news is that those numbers are not reflected in the Congress. So it is up to us to eliminate (as in "Throw the Rascal out of his/her fancy office!) those Representatives and Senators who do not support fundamental tax reform and elect those who do.
We have our work cut out for us!
So companies don’t pay NRST on anything even things they consume (e.g. pencils, paper, etc.) and individuals pay NRST on everything they purchase including things that could legitimately be considered investments (e.g., land, homes, art) but if they buy a company or a stock or bond in a company they only have to pay NRST on the brokerage fee.
Is there a more elegant way of making the differentiation of what is taxed and what is not?
Wouldn’t it be easy to avoid taxes by becoming a company?
How does the merchant (e.g. Staples) determine whether you are a person or business in selling you a computer?
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.