Imposing a national 'fair' tax

MarketPlace ^ | September 11, 2007 | Scott Jagow/Stephen Moore

[Gorzaloon]

This isn't a VAT tax. It's a retail sales tax, which is only paid at the point of new retail sale. Unlike a VAT, which is paid at every point "value is added." Which means that you pay tax on the taxes already paid.

Yes, I see. I asked a friend about it this morning.

"You want to make a nail:

Iron ore= VAT

Coal=VAT

Pig Iron=VAT

Steel mill/Bessemer converter =VAT

Wire drawing mill=VAT

Nail Factory=VAT

Reseller/repackager=VAT"

[xcamel]

ad valorem tax (VAT)
n : a tax levied on the difference between a commodity’s price
before taxes and its cost of production [syn: VAT, value-added
tax]

[groanup]

There is a grass roots effort to get the Fair Tax on a ballot of some sorts here in Michigan to replace the maze of taxes that are killing this state from a competitive standpoint.

It was put on the ballot as a non-binding vote in three metro Atlanta counties during the 2006 elections. It garnered yes votes at about 70%.

[Your Nightmare]

The "bimbo" in the middle runs her own FairTax website and is no doubt a lot smarter than you are.

Just curious, what's the address.

[xcamel]

Once the FairTax rate is set ‘revenue neutral’ then the govt will naturally spend ‘just a wee bit more’ and then, oops, we need to raise the fairtax ‘for the children.’

[xcamel]

you’ll never get an answer...

[lewislynn]

And, since (with the simultaneous repeal of the 16th) the gov’t no longer can demand that you disclose your income, they can’t give differing rebates to different income levels.

There is no "simultaneous repeal of the 16th" and your employer and self-employed would report earnings to Social Security...which happens to be the government agency that would be sending the (GAG!) "prebate" checks.

[Bigun]

You have perfectly described in your post how the current corporate income tax functions in this country.

The NRST as proposed in the FairTax bill would do away with that completely as there would be NO tax what-so-ever on materials purchased for inclusion in a downstream product. The tax would be imposed ONLY at the point of retail sale on NEW goods and services.

[groanup]

fairtaxgroups.com

[lewislynn]

You have perfectly described in your post how the current corporate income tax functions in this country.

Give us an example...

(This is where I get the canned, cut and paste Fairtax "I've been shown/told/it's been posted hundreds of times on these Fairtax threads/I'm not going to do your homework/find it yourself/you're too stupid to understand" response)

[Centurion2000]

Stephen Moore: We could abolish the income tax and the payroll tax, too, and replace them with a 23 percent national sales tax

More like 10%. If it's good enough for God, it's more than good enough for the government.

[lewislynn]

LOL!

You can go to her website and have all your questions answered...by other Fairtax experts supporters.

[Your Nightmare]

fairtaxgroups.com

I've been there, nice site. Good for her. Obviously, I don't agree with most of what's posted on there, but the site is still impressive.

[xcamel]

he mispelled it

fairtaxgroupies.com

[groanup]

OTOH you can go to the links being posted by SQLs lately and get opinions from left wing nuts.

[groanup]

he mispelled it

fairtaxgroupies.com

So how much time did you spend trying to find the correct website?

[groanup]

Thanks for the polite response.

[xcamel]

oops.. another copyright violation... kinda like cheating on your taxes, eh?

[groanup]

...ops.. another copyright violation..

Such is the extent of your knowledge of this topic. Why don't you report me? According to you TWO companies share this copyright. Must be crowded in there.

[Bigun]

See post #21 Lewis!

The poster describes it perfectly.