Posted on 08/09/2005 5:27:03 PM PDT by Man50D
According to the new Best Selling Book by Neil Boortz and Congressman John Linder, " The Fair Tax Book", out of the 100 little answers that make replacing the income and payroll taxes with the Fair Tax, the number one or biggest answer is "GROWTH". Growth in the economy means better jobs and better pay, it means increased tax revenue for important programs like Medicare and Education. And revenue to balance the budget or pay down the National Debt. (p.106) "Economists estimate that in the first year after the Fair Tax Act becomes law, the economy will grow by 10.5%. Exports will grow by 26 percent. And capital spending will increase by more than 70 percent."
Due to this new tax structure, companies will want to build new plants here in the U.S. That means better paying jobs for American workers and a Stronger American Economy. US Shores become a tax-Free zone and Corporate headquarters and Captial spending will flow back to the US.
Though the Fair Tax has many supporters and web site advocates, It is important to get the correct facts and benefits laid out in one book for politicians, pundits and average Americans to study and understand. The President's panel on tax reform will present its report in late Septemeber. All indications are they will not nibble at the edges at the archaic tax code we have today but provide a bold change that is positive for the economy. The Fair Tax is the only Legislative package (HR25/S25) that provides all those positive answers that American families, American workers, American business and the American Economy need.
Hope you will pick up your copy of the "Fair Tax Book" by Neil Boortz. Share an extra copy with a friend and be ready this Fall for the Tax reform debate. Know the Facts and why the Fair Tax is the better choice. Better than the Flat Tax. Better than a VAT and certainly better than the current 10,000 page plus tax code and regulations we deal with now.
With the Fair Tax take home 100% of your paycheck with no federal income tax or payroll tax taken out.
Those that know the Facts love the Fair Tax. http://www.fairtax.org
*sigh* We can only dream...
I'm going to have to do some reading. I don't know at this point -- Fair Tax or Flat Tax...or maybe neither...but we need something better than what we have now.
Gee! How will politicians play off one group against the other if we all have the same tax?
Oh wait, they still control which groups will get government largess....
Oh well, its a start...
The flat tax is still a tax on income-- a MARXIST idea.
The Fair Tax is a tax on spending. Worlds apart.
Yeah, and I am the tooth fairy....
Just call it the FraudTax and be done with it.
Thank you. I did look briefly at the site...as I said, I have to read some more. :)
Milton Friedman!!!! Allright! Thanks for your endorsement!
They don't want anything fair .
They don't want more wealth creation.
They want to keep their people poor and dumb...just like the Taliban.
Thanks for the explanation. Someone said a while back that every taxpayer supports five more people -- not five members of your family, but five strangers. That's just entirely too much. Time for the free rides to end and put in something equitable in their place.
You want 10% growth.
1. Ban all outsourcing
2. Put a 500% tax on goods and services outsourced overseas
3. Put all Gobernment on a 50% cut
4. Send all undocumented illegals back to where they came from. Also, implant an RFID on them that will kill them when attempting to remove.
5. Seal the borders
6. Bring our troops home
7. Repeal NAFTA and CAFTA
| The flat tax is still a tax on income-- a MARXIST idea. The Fair Tax is a tax on spending. Worlds apart. |
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| Whether it's a tax on income or tax on spending, the money still comes out of your earnings. By the way, when does the government collect for the services that it provides. |
You have to get that book that Boortz just wrote. Or at least spend some time over at fairtax.org. It's a beautiful plan!
Oh give me a break. Who is this guy???
Merrill Bender is a free-lance writer on tax reform and social security reform for more articles visit his blog site - Tax reform "Fair To All" http://fairtaxreform.blogspot.com
You have to get that book that Boortz just wrote. Or at least spend some time over at fairtax.org. It's a beautiful plan!
***
I hope to do both. Thanks. :)
So, you guys are really gearing up the old resistance campaign these days, huh?
good luck. you'll need it.
It's time to do some research.
Your post is inane.
| 1. Ban all outsourcing 2. Put a 500% tax on goods and services outsourced overseas 3. Put all Gobernment on a 50% cut 4. Send all undocumented illegals back to where they came from. Also, implant an RFID on them that will kill them when attempting to remove. 5. Seal the borders 6. Bring our troops home 7. Repeal NAFTA and CAFTA |
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| 8. Reform Social Security and allow people to invest it |
We can't have any of that and still be good socialists.
It's a massive difference. You can save or invest with absolutely no tax penalty, as much as you want. You can choose to give yourself a tax cut simply by spending less. The control is in your hands, not some behemoth agency full of bureaucrats.
Underneath it all, control is the real issue.
go to fairtax.org.
It's all explained right there.
By the way, when does the government collect for the services that it provides.
The procedure for tax collection would be the following:
Retail businesses collect the tax from the consumer, just as state sales tax systems already do in 45 states; the FairTax will simply be an additional line on the current sales tax reporting form. Retailers simply collect the tax and send it to the state taxing authority. All businesses serving as collection agents will receive a fee for collection, and the states will also receive a collection fee. The tax revenues from the states will then be sent to the U.S. Treasury.
I been resisting this stupid plan from day 1. I honestly think you have to be braindead to believe half the claims of fair taxers.
Let's say I buy a product from company A for $100, process that product in my company, and then sell the finished product to company B for $200.
What amount of tax would I pay?
Zero,nothing!
$0
If it's not a retail sale, nothing. It's a National Retail Sales Tax.
So, what do you prefer? The bloodsucking labyrinth of control freaks that run our lives now?
Good ideas, Mr. Buchanan. Way to roll us back to pre-WWII. We tried isolationism--it didn't work.
You can even check it out yourself. Look at the total federal take (2004 numbers from the OMB) on corporate income taxes (189.4 billion), employer matching FICA and Medicare (366.7 billion), estate and gift taxes (24.8 billion), all import duties (21.1 billion), federal FUTA and miscellaneous fees (32.6 billion) and all federal excise taxes (69.9 billion).
Without the personal income tax and individually paid Social Security and Medicare, it all comes to about 700 billion out of 2.0 trillion in receipts. Even with a 200 billion dollar savings in "compliance costs" (and that's laughably, ridiculously large to any business owner or manager), that won't produce even a 10% reduction in prices in a 10 trillion dollar economy.
Fair Tax ping!
Dale Jorgensen, chairman of the Harvard Economics Dept., did an extensive study on that subject. Page 53 of Boortz's book. There's even a nice chart on page 54!!
like I said, good luck. you'll need it.
and your little dog too!! < /wicked witch>
Your cost of producing that product will drop. The market, for the most part, will correct for the various discrepancies.
That's what a lot of people don't seem to understand. The flat tax is STILL an income tax, the 16th Amendment would STILL be enacted. The IRS would still be around terrorizing people.
Whereas the fair tax is not an income tax at all (its a tax based solely on consumption).
The 16th Amendment would be repealed and the fair tax would end that terrorist organization known as the IRS.
By the way, I'm a little guy too. I'm self employed, and I run a small business of about 10 employees. I understand your concerns, but you should go to fairtax.org and really read it in the context of your situation.
Is it peer-reviewed? Have you read it?
Post it here and prove it to us.
Thanks, I'll do it.
Look it up yourself, on PAGE 53 AND 54 of the Fairtax Book. It's just a book, not too technologically difficult.
Hmmm. Would this be the study he testified before the House Ways and Means committee back in 1995? Just how old is this study? 10 year old data doesn't seem be something I'd place my hopeful wishes on.
Dale Jorgensen, chairman of the Harvard Economics Dept., did an extensive study on that subject. Page 53 of Boortz's book. There's even a nice chart on page 54!!And in Dale Jorgenson's study, most of the savings came from personal income and payroll taxes. That means we would have to take a pay cut so we would still be taking home what we are today.
price of labor = household value of time / (1 - marginal tax rate on labor)Staying out of the World Wars, until we were drawn into them, was the correct strategy for winning the wars by the way. At least history shows that it worked.
How hard is it to put the money collected in a tax account, and send it in? I do it quarterly for my business, and it is not fun, but neither is it a strain on finances. You just figure out that the money is not yours........ever......never spend it or mix it with your own money.
Why? Doesn't he have enough money already? I think I'll hang onto my $17.
Fair + Tax is an oxymoron. When they decree a definite reduction in wasteful government spending, maybe they will be on to something, but not until.
Whatever. You're getting too esoteric for me, I'm just a businessman. I'll leave these arguments to the geeks who know better.
But the claim that that 20% figure was just made up is effectively disproved. Have a good night.
Then don't buy it, you jealous class warfare stooge.
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