Posted on 02/08/2003 5:56:38 PM PST by Bigun
White House Floats Idea of Dropping Income Tax Overhaul By EDMUND L. ANDREWS
WASHINGTON, Feb. 7 — President Bush, having already set off a firestorm over his proposals to cut taxes and revamp retirement accounts, suggested today that the time might be near to drop the income tax as a whole and replace it with some form of consumption tax...
(Excerpt) Read more at nytimes.com ...
From what I can see, it's just the same old band of liars, tax frauds and cheats looking to mamipulate the tax code to their own advantage.
With Bush, it appears that they've got a puppet who's willing to be bought off.
""Live frugally purchase used or do for yourself..." .
It will give you first control of your pay check before government gets any cut. From there it is up to you how you spend or invest your income
You can choose to not pay rent,
you can choose to not have a mortgage,
not buy groceries,
not get a car repair,
not have a car payment (yes, interest payments are subject to a tax),
not buy gasoline,
not get a hair cut,
not have sewer service,
not have water service,
not have garbage service,
not have a telephone,
not have electricity,
not have cable/satellite
not have heating oil/natural gas,
not to dine out,
Not ever have any "service"...
Oh, and when you invest, don't forget the tax on the implicit AND explicit financial intermediation fees.
In other words, you can choose to live the life of a hermit to avoid their exorbitant tax...After all isn't that what we all work and live for?
And, given Bush's taste for big government social welfare solutions, hidden under the "conservative" fig leafs of religious welfare work and federal/state tax money redistribution for various "compassionate conservativism" projects, which have only served to further inflate the budget...
And, given Bush's pandering to the Hispanic vote, including his refusal to protect our borders or to enforce our immigration laws, leading to ballooning welfare roles and social service bills for illegal aliens, and his blatant capitulation to the racial-extortion coalition, and his penchant for white guilt and apparent acceptance of politically correct thinking, Frankfurt School style "anti-authoritarianism" and other forms of cultural Bolshevism, which take as part of their central theme the increasing tax-slavery of the white working and white middle classes as a means of "creating social change"....
And, given Bush's refusal to cut any part of Big Government at all, which he claims to want to merely reform in a "compassionate conservative" direction, rather than to reduce....
And, given Bush's belief that all that is necessary to keep the conservatives in line and to keep the GOP faithful coming to the polls, is to occasionally throw them a bone, such as the occasional token tax cut or the occasional token support of anti-affirmative action legal measures, or the occasional anti-abortion rhetoric, etc....
What, therefore, are the chances that anyone connected with the Bush administration believes this is a serious proposal, versus the chances that it is yet another meaningless, rhetorical piece of red meat thrown into the conservative dog pound, to keep the GOP mutts from yapping all night, and otherwise interrupting Bush's slumber?
And, a tangental question: what are the chances that Freepers will waste their time bashing each other over purely theoretical arguments over tax policy, rather than a thorough and objective appraisal of the current White House and its overal policies and goals?
H&R Block just hit the floor and can't get up.
Trajan88; TAMU Class of '88
In some ways I guess you're right, as long as the corporate income taxes get eliminated, too. Then their prices would go down.
They are, along with payroll taxes (both individual and corporate) as well.
But I would still like to see all taxes collected by the states and local govts, even if it's sales tax.
Which is what is in the legislation as well:
Mash here >>> [H.R.25 ]
SPONSOR: Rep Linder, John (introduced 01/7/2003)
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: http://www.fairtax.org & http://www.salestax.org
If a NRST is added of say 6-10%, how can you say that there will be no added tax burden on me to fund the fed government than would otherwise be?
1) the NRST is a replacement for current federal taxes individual and corporate.
2) In replacing the federal income and payroll taxes, the costs of complying with those taxes are removed, hence the total burden imposed by government upon the individual through consumption price inflations is lessened.
What makes you think that I would pay the same or less in taxes? Explain?
Because the cost of compliance with the federal tax system is reduced.
DO YOU PAY YOUR INCOME TAX
AT THE SUPERMARKET?
by D. Sherman Cox J.D. L.L.M. Taxation
The full impact of the federal tax system(taxes in gross wage/salaries & other compensation + business income/payroll taxes) added onto the base(taxfree) price of retail consumption goods and services is 36% for federal taxes alone.
All wages and the taxes on them are paid for out of sales receipts to business,(i.e. consumption expenditure).
Federal tax revenues collected as % of current family expenditure = fed/(1-state-fed-savings) =
23.5/(1-.235-0.102-0.012) = 36.09%
If we add in the cost of federal tax compliance, planning, litigation & enforcement, the percentage that truely represents the burden on the family due to the Federal income/payroll tax system, product prices are increased by more than 55% over taxfree prices.
Where Have All the Dollars Gone?
How the government robs Peter to pay him back.
By economist James L. Payne, Reason Magazine February '94When the overhead costs are added together, (24 percent compliance costs, 33 percent disincentive costs, and 8 percent other costs), they total 65 percent of tax revenue.
Current total Federal tax revenues are about $1900billion, more than $1,000 billion additional dollars are added on onto consumption prices due to the business costs of complying with the federal income/payroll tax laws.
The percent total current federal burden (taxes + compliance costs) of consumption dollars = 36*(1900+1000)/1900 = 54.95% economic burden added on to base retail(i.e. taxfree) prices.
While the economic burden, under the NRST, added on to base retail(i.e. taxfree) prices is less than 30%.
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