Keyword: consumptiontax
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Republicans in the House of Representatives will vote on a bill that would abolish the Internal Revenue Service (IRS), eliminate the national income tax, and replace it with a national consumption tax. Fox News Digital has learned that the House will be voting on Georgia Republican Rep. Buddy Carter's reintroduced Fair Tax Act that aims to reel in the IRS and remove the national income tax, as well as other taxes, and replace them with a single consumption tax. The vote on the bill was made as part of the deal between House Speaker Kevin McCarthy, R-Calif., and members of...
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THE HISTORY OF THE SIXTEENTH AMENDMENT by Dr. W. Cleon Skousen Strange as it may seem, the Sixteenth Amendment (which gave the American people the affliction of confiscatory income taxes) was never supposed to have passed. It was introduced by the Republicans as part of a political scheme to trick the Democrats, but it backfired. Here's the story. The Founding Fathers had rejected income taxes (or any other direct taxes) unless they were apportioned to each state according to population. Nevertheless, an income tax was levied during the Civil War and upheld by the Supreme Court on the somewhat tenuous...
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The intensity of the ongoing Republican presidential debates has a very uplifting silver lining. Specifically, the competition ensures a much needed discussion of the proper mode of federal taxation. Texas Governor Rick Perry seeks somewhat of a flat tax, and the positive implications of such a move would be quite something. Not only would this reduce the price of work for most Americans, but it would make tax preparation a snap such that a lot of fecund minds whose employment is a function of byzantine tax laws would be released into more productive lines of work; the U.S. economy a...
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...[T]he solution is “a surtax on extremely high levels of consumption”. Um. What? At a time of economic downturn, Professor Frank wants to impose a crippling tax on the economy. That will further hamper economic growth. That will cost jobs, that will hurt the economy, and so on. Riiight. Professor Frank’s rational for this… ‘interesting’ … position is that that we need to boost our national level of savings...
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LAST year’s stimulus spending is running out, yet unemployment stays stubbornly near 10 percent. And as state and local governments keep cutting their budgets, the economy desperately needs an additional spending boost. Concerned about growing federal deficits, however, many in Congress appear reluctant to act. Their worries are misguided. Yes, deficits are bad, but protracted unemployment is far worse. Still, it seems unlikely that additional stimulus legislation can attract the supermajority now required to clear the Senate. And even without such legislation, huge budget deficits loom for years. In the long run, these deficits will impoverish our grandchildren, just as...
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California currently collects $18 million in sales taxes from marijuana dispensaries, and Yee said a regulated pot trade would bring in $1.3 billion... Valid for one year, it is all that California law requires to purchase and smoke eight ounces legally. …Oakland allows anyone with a medical card to cultivate 72 plants — 12 times the number the state legislature suggested in SB 420, which passed in 2003... This bill would impose a fee of fifty dollars ($50) per ounce for the sale of marijuana sold at retail...to include all marijuana, concentrated cannabis, and their derivatives, except that marijuana containing...
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... Why not pass a 5 percent consumption tax to take effect two years from now? There are many different ways to implement a consumption tax, but for simplicity think about a national sales tax. In the short run, the anticipation of a consumption tax would encourage households to spend money now, rather than after the tax is in place. Along with the rest of the economic recovery package, this would help jump-start spending in the economy and thereby increase production and employment. In the long run, a 5 percent consumption tax would raise approximately $500 billion a year, and...
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Gigot: Well, Fred Thompson has his flat tax, and Mike Huckabee has his fair tax. But who's got the better idea, and what are the other GOP presidential hopefuls proposing? Here with a closer look at the candidates' tax plans, Wall Street Journal columnist and deputy editor Dan Henninger, assistant editor James Freeman, Washington columnist Kim Strassel and senior economics writer Steve Moore. So, Steve, Fred Thompson has embraced this so-called voluntary flat tax plan. You like it, I kind of like it. Tell our viewers why. Moore: Well, the flat tax is happening all over the world. There are...
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Colorado is in the middle of the pack when it comes to taxes on gas, cigarettes and retail sales. Tax-infomation company CCH notes that Colorado, with its 2.9 percent rate, has the lowest state sales tax of any of the 45 states that charge one. That's before local counties, cities and districts start layering on extra sales taxes, though. (Sales tax in the city of Denver is now 7.72 percent.) Five states - Delaware, New Hampshire, Oregon, Montana and Alaska - charge no state sales tax, although some areas within the state do. Seven states - Minnesota, Nevada, Washington, Mississippi,...
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In many ways, Terri Hall was on a collision course with Texas toll road policies long before she and her family loaded up their van and drove from California to the Hill Country three years ago. A lifetime of volunteering, a hunger for staying on top of politics, and strong religious and moral convictions helped hone Hall's activist instincts. Her brains, drive, superb speaking skills, engaging personality and wholesome good looks — noted by friends and enemies alike — make Hall especially effective. They help explain why this 37-year-old mother of six is a leading force in a populist assault...
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August 30, 2006, 9:17 a.m. What Can the Government Tax?The answer, never set in stone, may be changing. By Bruce Bartlett Last week, a federal appeals court in Washington handed down an important decision relating to the definition of income for tax purposes. What is important about the decision is that it is the first in decades to say the Constitution itself limits what the government may tax. If upheld by the Supreme Court, it could significantly alter tax policy and possibly open the door to radical reform. In the case, a woman named Marrita Murphy was awarded a legal...
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LINK ONLY, Irish Independent doesn't allow excerpts, NEED TO REGISTER (FREE) AT www.UNISON.ie to read
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The self-proclaimed High Priest of the Church of the Painful Truth is power-walking through Concourse B at an impressive pace for a man limping on a recuperating knee. He's on a scouting mission: Are shops at Hartsfield-Jackson International Airport stocking his latest book? Is he curious? In need of an ego boost? "Revenge," he says in a voice Atlantans might recognize as either a jolting cold shower of meanness or an invigorating brew of straight talk on the radio. Neal Boortz is a New York Times best-selling author. So, as Boortz loves to say on air, "Bite me." His literary...
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A major domestic battle looms this fall, when tax reform-- a centerpiece of the president's bold domestic agenda-- will finally be on the table. The President's Advisory Panel on Federal Tax Reform is expected to release its findings by the end of September. After the political shellacking the White House took on Social Security, the administration will be strongly tempted to take a conciliatory path that supports only superficial reforms, essentially preserving the status quo of our hideous income tax code. Such a course would have perilous consequences, economically and politically. In fact, the administration has an opportunity here to...
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Modernizes the sales and use tax. As reported by the Senate Budget and Appropriations Committee on June 20, 2005, with amendments. An Act modernizing the sales and use tax, amending and supplementing P.L.1966, c.30 and amending P.L.1980, c.105.
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The president of Intel, Paul S. Otellini, warned a federal panel addressing tax issues that because of high tax rates in the United States, his company may build its next $3 billion semiconductor factory overseas. ... "The problem that we have and which the industry has is that it costs us $1 billion more to operate inside the U.S. than outside of the country," he said. "It's not wages and capital; its almost all attributed to tax benefits--or the lack thereof--in the United States compared to what is offered elsewhere."
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73 Pantywaisted Texas House members voted to approve HB3 on Monday night, March 13. HB3 hits small businesses and regular citizens with new and increased taxes The Republicans have charge of the Texas Legislature for the first time in a century and they voted for a HUGE NEW tax!! What are they thinking??!! I am asking all citizens to send the Republicans (and Dems too if you want) who voted for the tax a pair of PANTIES since they proved they are sissies! (You can buy a yellow pair at Walmart for 88 cents.) Send the panties to as many...
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WASHINGTON, March 3 - Federal Reserve Chairman Alan Greenspan said today that the tax system should be simplified, perhaps with some kind of consumption tax, to encourage national economic growth and personal savings. Mr. Greenspan, testifying before President Bush's advisory panel on tax reform, said conditions had changed greatly since the last big federal tax overhaul, in 1986, and that it was high time to set things right again. "Changes since the 1986 act have been largely incremental without the appropriate all-encompassing context that broad reform brings to the table," Mr. Greenspan told the group. "It is perhaps inevitable that,...
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Panel to Review U.S. Tax Code By Warren Vieth, Times Staff Writer WASHINGTON — A presidential commission today launched what it promised would be a top-to-bottom review of the U.S. tax code, but acknowledged that it might make more sense to modify the income tax than to try to replace it. Members of the president's advisory panel on federal tax reform said all options were on the table, including proposals to replace personal and corporate income taxes with variations on a national sales tax. "The president is committed to major tax reform, to real tax reform, to something more than...
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The FairTax is the non-partisan national sales tax proposal that would replace all federal income taxes. These include personal, estate, gift, self-employment, alternative minimum, capital gains, FICA, and corporate and death taxes.
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