"Fair Tax"

[Sandy G]

Ah, but Todd-it ain't YOUR money-it's the Imperial Federal Gummint's money...An' they'll spend it any damn way they please, & YOU don't have any say in it, boy...And no, they are NEVER gonna spend LESS of it, Just get down on yr knees & thank your lucky stars that they aren't taking MORE of it- at least for right now they're not. Remember, all you snivelling worms-We BELONG to the Imperial Federal Gummint-and none of you actually OWN anything- Don't pay yr land taxes on yr house & you'll find out REAL quick what I'm talking about...

[JJIII]

"You are all capitalists who make your living by investing your capital?"
My wife and I made just a little over $50,000.00 in 2008. Hardly wealthy.



"learn which groups and which economists "
Tell me who you are thinking about and I will try to learn.

"The FairTax rate of 23% (when calculated inclusively like income tax rates) has been thoroughly researched to provide all the revenues now collected under both the income tax system and through FICA payroll taxes."

One of the stipulations of the study was to find a tax structure that would fund the programs that exist now. Cutting programs is an entirely different matter. With the Fair Tax, the power to create class warfare is eliminated and any increase in the tax rate would be voted upon by the public.

[merrylander]

Actual tax rates here are quite possibly the lowest of any industrialized country (well we used to be industrialized, but that's another thread). Consequently our infrastructure is quite possibly the worst of any industrialized country.

When we took a vacation trip to Nova Scotia some years back we looked at an island in Maine, complete with house and dock - should have bought the place.

If, instead of pi**ing all that money up against the wall in Iraq they had fixed some roads and bridges we would be in better shape.

[pez23]

Originally Posted by Ozmoid

All I needed to know about "Fair Tax" is in this sentence from their website:



I want our Fed and State Governments to STOP SPENDING MY MONEY and get their budgets under control. Any Tax plan that does not include MASSIVE REDUCTIONS in taxation of all types does not meet my approval.

I seem to recall some guys who took matters into their own hands over unfair taxation issues a couple of hundred years ago.

It is not a way of lowering taxes, just a superior way to collect taxes which would stimulate growth- the more you consume, the more tax you pay. Lowering taxes is a seperate problem that requires the government to spend less...

[merrylander]

Originally Posted by pez23

It is not a way of lowering taxes, just a superior way to collect taxes which would stimulate growth- the more you consume, the more tax you pay. Lowering taxes is a seperate problem that requires the government to spend less...

In order to lower my taxes I would consume no more than absolutely necessary - I fail to see how that would stimulate growth.

[Ozmoid]

Originally Posted by pez23

Lowering taxes is a seperate problem that requires the government to spend less...

That's my point - they will never learn to control spending until we stop funding them at the current levels. 23%? GTFO! 10% would be a good starting point.

[JJIII]

Some of the growth would come from corporations moving back to this country from overseas. More jobs = more growth.

[merrylander]

Corporations are already beginning to re-think their love affair with all things Chinese. Wait until the Chinese reverse engineer all the Intel and TI chips and start underselling them world wide.

[gazelle1929]

There is only one fair tax. That is where I pay no taxes and everyone else ponies up to fund the government. Once you start taxing me tthen we're in a negotiation phase.

All seriousness aside, there never has been, nor can there ever be, a fair tax so long as we have people with varying levels of income, personal spending habits, families, etc., etc., ad nauseam.

Fair tax is just different, that's all.

A fairer current system would be to stop paying welfare to all the home-owners. Why the hell should the Federal and state governments subsidize the housing units of every person who pays interest above the standard deduction level? Yes. It's welfare!

So if you don't want to be part of the welfare state stop deducting your mortgage interest. That usually goes over pretty badly when I bring it up.

[JJIII]

"A fairer current system would be to stop paying welfare to all the home-owners. Why the hell should the Federal and state governments subsidize the housing units of every person who pays interest above the standard deduction level? Yes. It's welfare!"

With the "Fair Tax" there would be no deductions for mortgage interest because the deductions come off your income tax. No income tax = no deductions. You would pay the tax up-front when you bought the house, one time, over and done with.