[Mr. Bird]

The NRST is definitely catching my eye these days, but I read different things regarding its effect on FICA. Why retain FICA? It's a huge drag on employment, and is (as far as I'm concerned) the most immoral tax out there.

I'd prefer a higher NRST rate to keeping the payroll tax.

[tarawa]

hmmmm..... very interesting.....

[r9etb]

I don't trust his analysis. His discussion of the mortgage interest deduction is full of holes.

[zeugma]

The problem I have with the NRST is that the rates people have bought into for it are insane. 23%???? They are out of their freaking minds. Same thing goes with the 'flat tax'. The lowest rates for this are quoted at like 30% or so. God doesn't ask for more than 10%. What makes government think it deserves more?

[lewislynn]

Fred and Joan are paying the NRST on the principal over 30 years.

They're also paying a NRST on the mortgage interest...Interest is the fee you pay for buying/borrowing money.

Don't beleive me? Check out `CHAPTER 8--FINANCIAL INTERMEDIATION SERVICES...
`(3) IMPLICITLY CHARGED FEES FOR FINANCIAL INTERMEDIATION SERVICES-

`(ii) with respect to any underlying interest-bearing debt, the product of--

`(I) the excess (if any) of the rate paid on such debt over the basic interest rate (as defined in section 805); and

`(II) the amount of the debt.

[ancient_geezer]

A Taxreform bump for you all.

If you would like to be added to this ping list let me know.

John Linder in the House & Saxby Chambliss Senate, offer a comprehensive bill to kill all income and payroll taxes outright, and provide a IRS free replacement in the form of a pure consumption tax:

H.R.25, S.1493
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.

Refer: http://www.fairtax.org & http://www.salestax.org

[rolling_stone]

bump

[WhiteGuy]

The NRST removes governmental control from how much I earn and what I do to earn it.

This fact alone is justification enough to support ONLY elected officials who will support this desperately needed fix.

[Silas]

Don't worry. Be happy.

My advice is to buy a condo at www.MGMGrandResidences.com This is the first condo-hotel ON the Vegas Strip. A team of Turnberry and MGM Grand. Are you kidding me? Forget about what anybody else is doing. Just buy into this and be happy. Tower Two of six going on sale soon.

Or, if you prefer to discuss details about what the rest of the country is doing, that is your choice. I don't worry so much about politics anymore. I just take a good deal when I see it. Don't worry, be happy.