Free Republic

I like almost everything about Herman Cain.  He is as solid a free-market supporter as any of the candidates.  He is a staunch supporter of Israel.  He is a true believer in the Constitution and is 100% pro-life.  His instincts reflect those of the Tea Party.  But I cannot embrace his 9-9-9 plan.  It is too close to the fair tax, and too far from a flat tax.  But consider something like 18-0-0.  Read on.The best comment so far on the now-famous 9-9-9 plan was Michele Bachmann's "The devil is in the details."  Indeed, it is not easy to flesh...

WASHINGTON — President Obama is considering whether to push early next year for an overhaul of the income tax code to lower rates and raise revenues in what would be his first major effort to begin addressing the long-term growth of the national debt. While administration officials cautioned on Thursday that no decisions have been made and that any debate in Congress could take years, Mr. Obama has directed his economic team and Treasury Department analysts to review options for closing loopholes and simplifying income taxes for corporations and individuals, though the study of the corporate tax system is farther...

SHOULD the government cut spending or raise taxes to deal with its long-term fiscal imbalance? As President Obama’s deficit commission rolls out its final report in the coming weeks, this issue will most likely divide the political right and left. But, in many ways, the question is the wrong one. The distinction between spending and taxation is often murky and sometimes meaningless. Imagine that there is some activity — say, snipe hunting — that members of Congress want to encourage. Senator Porkbelly proposes a government subsidy. “America needs more snipe hunters,” he says. “I propose that every time an American...

Some people are fighting for a fair tax, replacing our income tax structure with a VAT, a Value Added Tax(country wide sales tax). Others argue for a Flat tax, one tax rate on income for everybody, no deductions etc. Both sides are fighting for the same concept. Simplify the way the federal government collects taxes. America's Tax Structure is just so complicated and is getting more complicated every day. The $600 Billion plus in brand-spanking-new taxes passed as part of the Obamcare bill only serves to add to the tax code confusion. But Americans shouldn't feel bad because the general...

Some people are fighting for a fair tax, replacing our income tax structure with a VAT, a Value Added Tax(country wide sales tax). Others argue for a Flat tax, one tax rate on income for everybody, no deductions etc. Both sides are fighting for the same basic concept. simplify the way the federal government collects taxes. America's Tax Structure is just so complicated and is getting more complicated every day. The best proof for this argument was made by IRS Commissioner Douglas Shulman on C-Span (video at bottom of post).

Alright, since signing up for ancient_geezers ping list I’ve read up on the FAIR Tax proposal. I have some reservations, and would like to know what the supporters of this initiative has to say about them. I’m not American, and there is no such initiative on the table in Norway, so my position on this issue won’t have any impact on wether or not this proposal is implemented. I am motivated only by personal interest, and my only agenda is to improve my own understanding of these taxation issues, and possibly improve the understanding of others as well, trough discussion...