So what you're saying is that you haven't read anything about the FairTax.
Only read what was posted...which is a poor choice
So what you're saying is that you haven't read anything about the FairTax.
Only read what was posted...which is a poor choice
What exactly do you mean by "income inequality"?
A combination is not what was described...
If you don't understand the basic principal of tax revenues as a means to help those less fortunate, then there is no need for me to expound.
...Except that the Fair Tax proposal is not a straight national sales tax, or VAT. It includes the "prebate" provivion.
So you think this makes it nuetral? Up to the poverty level?
Everyone over the poverty level will then pay 23% tax on everything they purchase. Since the majority of income at the lower levels is spent on purchases, these folks will go from a 10-15% income tax to a 23% consumption tax...yeah...that's "fair".
Sorry paying a tax on purchases is a sales tax...doesn't get more basic than the defintion.
So you think this makes it nuetral? Up to the poverty level?
Everyone over the poverty level will then pay 23% tax on everything they purchase. Since the majority of income at the lower levels is spent on purchases, these folks will go from a 10-15% income tax to a 23% consumption tax...yeah...that's "fair".
Sorry paying a tax on purchases is a sales tax...doesn't get more basic than the defintion.
Being childless, I have no desire to subsidize the mistakes of others, thank you.
Key words, you pay taxes on what you buy. They aren't taxing you based on what you earn (tax brackets). I think it's pretty fair making everyone pay the same amount, no matter their income.
Lowest income tax bracket is 15%, plus the 7.65% employee payroll tax = 22.65% . Not to mention Medicare/Social Security which are triple taxed. 1) when payroll taxes are initially withheld; 2) when those withheld payroll taxes are counted as part of the taxable base for income tax purposes; and 3) when the promised benefits are finally received.
If you believe taxes are for govt. income, than why not tax consumption. Surely you realize that is a much more stable revenue source than taxing income.
Fair tax, not flat taxNot a flat tax supporter of any kind, but I do embrace the idea of a simpler tax code.
And 23% sounds really high, especially once you add Maryland's six percent on top of it. 29%
I have other "questions" about all this flat tax business.
But, the tax code does need to be simpler. We all have to pay taxes. You shouldn't have to be an arithmetic major or a rocket scientist to figure it out.
In addition to our research, linked below are transcripts of testimony about the FairTax delivered to the House Ways and Means Committee and the House Committee on Small Business.
One of the entities that we used to conduct research was Beacon Hill Institute in Boston. They completed comprehensive research on the major facets of the FairTax - estimation of the tax base and rate for the FairTax compared to other tax reform proposals, its impact on the economy, on the states, on the distribution of the tax burden and on charitable giving. Click here for a high-level review.
Another one of our researchers is Laurence J. Kotlikoff, Professor of Economics at Boston University, fellow of the American Academy of Arts and Sciences, and former senior economist, President's Council of Economic Advisers. Kotlikoff has published extensively in the field of public finance and tax reform, including papers on the FairTax, which are targeted to laypeople as well as professional audiences. Click here to read his papers.
Listed below is our research sorted by topic.
I had to skim the thread. Unfortunately, I don't have the hours in my day to spend reading posts as long as my arm.
However, as some of the "old timers" around here know, I've been a Fair Tax supporter since the late 90's when I first heard about it on Neal Boortz' radio program. He has a talk show out of Atlanta, GA and I would catch it on the local talk radio show in Jacksonville, FL.
The website FairTax.org is very comprehensive and can answer probably 99% of the questions/objections brought up here. Their research is extensive. View Our Research - Americans For Fair Taxation
Any one of us who are supporters can answer, debate or rebut any of the objections of some of the posters. But if they won't do their own research, then there's no point in any discussion, because they will never understand The Fair Tax.
Not a flat tax supporter of any kind, but I do embrace the idea of a simpler tax code.
And 23% sounds really high, especially once you add Maryland's six percent on top of it. 29%
I have other "questions" about all this flat tax business.
But, the tax code does need to be simpler. We all have to pay taxes. You shouldn't have to be an arithmetic major or a rocket scientist to figure it out.
Would 6% be all that Md would want? That's just our sales tax but what about out other taxes(Income, property and everything else they have their hands in)? Can't see the states abandoning their tax codes just because the feds might
Yep. I don't care how you spin the math, this "FAIR Tax" is regressive and a huge tax increase for the poor and a huge tax cut for the wealthy.
Gotta luv ya, Dem through and through...