Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.
Posted on 04/17/2006 12:38:25 PM PDT by Tolerance Sucks Rocks
Well, the "spirit" of your argument is: "When taxes are down to 3% flat (across the board for fairness sake) the GDP is going to increase so significantly that 3% should cover it comfortably ! :)"
GDP would have to TRIPLE for your "spirit" to even be in the right neighborhood.
NNNNNNNNNOOOOOooooooo !!! The SPIRIT of my argument is you can raise productivity AND tax revenue by lowering tax rates! The numbers were thrown in just to make a point!
Then they will pay their FAIR share. That's why it's called the FAIR TAX.
About half the country pays NO FEDERAL INCOME TAX AT ALL. It's about time the poor contributed something instead of sucking off the tit of the productive. And I'll be happy to give em a job as the business climate explodes.
We will have to agree to disagree then.
I agree that cutting taxes (to a point) raises productivity AND tax revenues - but cutting the tax rate to ZERO would not raise any revenues, agreed?
Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.
You are right that cutting ALL tax rates to zero would raise no tax revenues. But I believe the point being considered is reducing the tax rate on capital gains to zero. Under the present tax system, that would mean GDP would grow sharply and revenues for income tax on earnings plus payroll taxes would increase even more than the amount of cap gains taxes lost.
Check the years since the 2003 tax cuts and you will find we gained even more cap gains taxes alone than the amount of cap gains cut.
What am I, chopped liver? I guess I'm just NOT OFFENSIVE ENOUGH. hehe
(I'm liking my caps lock key today.)
The FairTax bill does eliminate the income/payroll tax (and seveal others), eliminates the IRS, and requires the income tax records to be destroyed.
It also calls for the repeal of the 16th amendment. A tax bill cannot also be an amendment repeal bill since the requirements differ for the two. But the 16th repeal is veery much one of the things in the sights of the FairTax organization.
With the FairTax each tax[ayer would get to determine what are the necesities for him to spend funds for. government has no business being part of that decision at all.
With the FairTax the marginal rate is the same for everyone. The prebate is also available to all lawful residents with a valid SSN if the so wissh.
Intersting that China has no capital gains tax... helps to explain their incredible capital creation right now.
LOL.
No, but compared to stand watie's War of Northern Aggression threads you are a potted plant.
He is truly the defender of the South. Save your confederate money overtaxt. With people like SW you may see it appreciate. I'll stand by stand watie to the death!!!
I already agreed that cutting taxes (to a point - not 3%) raises productivity AND tax revenues - I also don't have a problem in principle abolishing the capital gains tax.
The FairTax proposals all are designed to fund at current (high) levels.
I would far rather see a flat income tax, 10% across the board (or lower).
Been there, done that and it grew back into the monster we have today. Anything that contains the words "income" and "tax" are off the table because of their obvious need for the modern equivalent of the Spanish inquisition for their administration. The government has no need to, and should not, know all that information.
Perhaps you should read Confessions of a Flat Taxer to see how one of the chief architects of the flat income tax feels about it today.
Oh, yes, I know! My mom is in the Daughters of the Confederacy, and my dad is in the SCV. Good people- but I prefer to invest my time with Jesus.
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