Frontpage FeedThe Fair Tax?
Heard a guy on Coast last night pushing the fair tax. I'm 100% against it. Why?
Because the problem in this world isn't the distribution of the money but the length of the food chain. If a person only pay a tax on new purchases exactly how will this shorten the food chain? So zillions of poor people get what amounts to more welfare. Big deal. If they pay a 36% sales tax on every cent of it how will this shorten the food chain? The poor and the working poor spend most every cent they can get their hands on and that is why they are poor. I suppose state lottery tickets will be exempt from the tax?
The stinking rich, on the other hand, don't know how to spend even 20% of their net increase on new consumer items. They buy companies and hard assets thus more power over the poor and the working poor.
Under the fair tax would a used car to be more valuable than a used car? This should drive down the cost of a rental car. And a used house more valuable than a new house? Just asking. Then there are the gold bugs. Will used gold be more valuable than new production gold bars?
Fair tax
Billwald,
Your comments evidence that you do not understand how commerce works and how taxes influence commerce. The Hundred year old income tax(a critical part of Karl Marx'ideology) has become so ingrained in our culture that we feel it is necessary and fair. The income tax is neither. If you have enough money to hire a tax professional, most of your expenses can be written off, reducing your tax liability while underwriting a lifestyle. Watch one of the "Award shows" that comes on TV. A glamourous and expensive extravaganza that must cost a fortune. All tax deductible. That means that taxpayers foot a portion of the bill. Vacation homes, exotic getaways, chauffeured limousines? All tax deductions. These become taxable events with the Fairtax.
I hope that you will educate yourself on tax policy, specifically the Fairtax at Fairtax.org. America can again become a productive nation with a restructuring of the revenue collection method employed by the federal government.
response to reply to billwald
anonymous poster,
I read this article and subsequent comments yesterday. I've been mulling over the contents, in particular your comment. You seem to suggest that taxes are easy to manipulate, bordering on circumvention if you have enough money to hire someone knowledgeable enough in regard to tax law. I, nor I assume you, are saying this is nefarious in any way. After all, it is merely leveraging one's knowledge of the law and maximizing one's rights therewithin. However, it did make me realize that "hey, I really need to educate myself about our country's tax laws."
Thus, I spent the remainder of last night looking into the history and current/future status of US tax regulations. While bouncing around from site to site, I landed on one(tax resolution institute, I believe it was called) and took some time to process the vast amount of information regarding taxes. If someone claims to be a tax expert, I'd imagine it comes with years and years of thorough studying.
Due to the complexity of taxes, how can the common person, let alone politicians, have the time to really know if A is better than B is better than C? Hopefully, after a month or two of study the big picture becomes more clear.
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I don't see any problem with
I don't see any problem with the Fair Tax, except politicians do not like it! Talk about taking back our country, the Fair Tax is the way to go. Just imagine; All other taxes will be eliminated! Embedded taxes amount to approx. 22% of the cost of any product, ALL of these taxes will be eliminated! The Fair Tax will add approx. 1% to the existing cost! Not only that; if you work your 40 hour week, and you get $25.00 an hour, You get your entire $1,000.00, without any deductions! We also eliminate the lobbyists! How about that for an economy booster? I can't but agree with the author of an article I've recently read found by http://byfiles.com saying that the Fair Tax would be the greatest transfer of power from the government to the people!
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Fair Tax
It is believe that the FairTax Act (HR 25, S 13) is nonpartisan legislation. It abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing 4g lte phones state sales tax authorities. The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.
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