Posted on 08/26/2007 4:27:23 AM PDT by Aristotelian
The prebate, and the tax rate, and various exclusions, as well as the threat of an income tax surcharge on the evil "rich" are all very much in the equation with a FairTax.
Heck, to about half the taxpayers an increase in the FairTax rate will just mean an automatically larger monthly allowance from Mommy Sam. Wooo-Hoooo!! More money from heaven!
You’re right.
Personally, I’m more into Steve Forbe’s idea of a flat tax.
I agree. Why lock ourselves into high taxes with this revenue neutral plan as long as they waste tons oof money on things we do not even want or need. Also, I object to making business collect taxes. We all pay our bills every month, but the government doesn’t trust us to pay our taxes. I’ll take a bill for other people’s taxes to my grave.
I want to keep my money, but if I have to pay tax, don’t put it all on me again.
I don’t want to have to live cheap just to make things all even.
Lets just say the guy with the higher income purchases more items, at the end of the year more of his property is transfered to the government than the other guy. No mater how you cut it, they are not having the government help it self to equal amounts of their property.
What do you have against treating people equally under the law? Isn't this what fairness is all about?
What good is money if it isn’t to spend on something eventually?
Money is nothing more than a convenient way to store current effort for future consumption.
Bingo.
Give me a Flat tax or some other form in that vein that is truly fair.
We already have enough sales tax at the state and local level.
FT "lies you must believe" #1: "the rich are all trust fund babies" - forget about people like Jeff Bezos, and Larry Ellison, and Fred Smith (FedEx)....
The benefit to taxing income is that it can be doubel and triple checked for the most part to ensure compliance.
To do the same with retail sales would require buyers to register their purchases and the amount of tax paid in some manner to provide an audit trail to go against the sellers records. And it would have to have ways to stop buyers and sellers from working in concert to make an item tax-free through illegal methods or improper use of legal methods.
http://www.mises.org/story/1814
The Mises Institute is not exactly a liberal hot bed in economic thought.
The supporters are all about taxation. The true issue is economics...
Additionally, it would secure tax revenues from people in the underground economy such as drug dealers and car thieves. It would also solve the problem of the IRS is preparing to “solve” by another massive invasion of privacy and imposed compliance, when it issues rules to require eBay to issue 1099 reports for all sales by US Persons totaling more than $600 in any given year.
It turns every business in to a tax collector. It also can create an “under ground” economy.
I should say larger underground ecomomy. We have one already.
Thanks. Something needs to be done, because what we have in place right now is just not working. More and more money is being funneled into the underground economy to avoid taxes and the IRS is ineffective.
Here’s an interesting link for people who might be interested:
Internal Revenue Service
Assessment of the Fiscal Year 2006 Budget Request
http://www.gao.gov/new.items/d05566.pdf
The problem with any government agency is that if they don’t use the money in their budget, they lose that money. There is zero incentive for cost savings within these entities.
Please- the personal wealth of every citizen who legally earned it is his alone to do with as he pleases. It is not “loot” for people with this attitude to divvy up. We are suppose to be free, but the system has made us tax slaves, both from the aspect of reporting, as well as paying.
Unless a person got “rich” entirely through the underground economy, they employed people, and had other economic activity that contributed to the economy. Even people who acted alone, such as Bill Cosby (who gets a 5 figure fee for speaking on college campuses) or author Stephen King will always spend their wealth. If they die before it is all gone, their heirs will, apart from how much the State seizes in the form of death taxes.
Just from a day in real life..
I collect sales tax on 180 million in sales over 2 states.
If someone claims to be “tax exempt” they give me a form, and I do not charge sales tax.
I cannot (not allowed) to check the validity of the form.
If it turns out to be a bogus form - I get fined, and owe the tax without recourse.
What’s fair about that?
Nice avoidance of the statement i made...
The question is “Which is better, the FT or the current income tax?”The Fairtax doesn't exist. Fantasy is always better than reality.
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