Posted on 01/09/2008 4:17:01 AM PST by Man50D
Thursday, January 10, 2008
FairTax GOP Debate Rally - Myrtle Beach, SC 3:00 PM
Friday, January 11, 2008
Radio appearance - The Shelley Wynter Show 3:00 PM
Saturday, January 12, 2008
Radio appearance - "Retire Right" w/ Patric Munro 9:30 AM
Fair Tax ping!
All taxation is theft. FT does nothing to reduce gov’t.
That’s true, but at least it makes the cost of government obvious to every consumer on every receipt.
That’s the reason I like the FT.
The long term psychological effects could be very beneficial to America.
Yes, I suppose that’s true, in terms of bureaucracy needed to implement taxation. I was speaking of the ‘revenue neutral’ aspect of the FT.
If the objective to make the cost of gov't clear, why not point out that the FT is a 30% sales tax? Too clear? Too transparent?
Don’t forget the size of the prebate administration.
If anything, the tax rate (whether you figure it inclusively or exclusively, I really don’t care- it’s the same money) is simply a reflection of how we’re getting bent over by the Federal government anyway. Revenue neutral is revenue neutral. We’re already paying the rate, the FT just makes it more painful.
And taxation should be as painful as possible, for the sake of liberty.
Tax Reform without Spending Reform is a waste of time and effort, IMO.
If the FT builds greater awareness of the cost of government, that’s just another good reason to make the switch.
Ask the average yahoo what he paid in federal taxes for the year. Most will reply that they either paid no taxes at all because they got money back or they will give you the amount they paid when they filed their tax forms. Few realize that this is not their tax bill, but instead are over and under payments.
Paychecks tell you how much you get to keep, not how much the government takes.
"Income tax forms makes it relatively clear too."
No, they don't. Not to H&R Block tax preparers, not to CPAs, not even to IRS auditors. At the end of it all, I know my top line income, and my income tax. Nowhere does a tax form tell me how much I have paid to the government in income and payroll (Social Security and Medicare) taxes.
People file tax forms with the goal of seeing how many dollars they can get back, not how many percentage points they can reduce their tax burden.
And yes, I once heard a talk radio caller claim he didn't pay any taxes, he got money back!
"If the objective to make the cost of gov't clear, why not point out that the FT is a 30% sales tax?"
Replacing a 30% income and payroll tax. So what is your point? The cost of new goods will go up 30%, but your income will go up by 30%.
Well put. It seems that lurking behind the FTers is really a general resentment of taxation and if successful they would soon be advocating for the Bare Tax (0% for all of them.) The Fair Tax is a white elephant with guys like Huckabee hoping it captures the disgruntled vote. Wake up guys, it’s a boondoggle.
(drag to URL box if using Firefox):
http://thomas.loc.gov/cgi-bin/query/z?c110:H.R.25.IH:
Didn't think so.
No. But you will get your entire paycheck without federal withholding. That means your take home goes up by your FIT + FICA. Then you get the Prebate on top of that.
Retail prices will come down some due to elimination of corporate taxes, corporate FICA payments, and increased business efficiency resulting from these changes. Net retail prices including the FairTax will go up some.
Here is the FairTax Calculator where you can analyze your situation and test other scenarios. [Note that it quotes the FairTax rate as 23% because it is using the exclusive rate. You can change this, too, to try other options if you wish.] By default, it does not reduce retail shelf prices, but it allows you to do 'what if' comparisons here, too. Click on the Assumptions tab and enable the default 10% decrease in pre-tax prices. Then return to the results and compare.
Paychecks tell you how much you get to keep, not how much the government takes.It's called a check stub. It's all there.
Nowhere does a tax form tell me how much I have paid to the government in income and payroll (Social Security and Medicare) taxes.It's the line right above where you sign you name on every tax return.Some simple math may be required if you paid too much.
People file tax forms with the goal of seeing how many dollars they can get back, not how many percentage points they can reduce their tax burden.That sounds like the 30% is 23% argument.
Paychecks tell you how much you get to keep, not how much the government takes.How can you suddenly be so sure when you don't know how much the government takes in the first place?---------
The cost of new goods will go up 30%, but your income will go up by 30%.
Here is the FairTax CalculatorWhat a pathetic joke. The FairTax Calculator where everyone gets more "spendable income" than they actually earned...What kind of idiots fall for that $hit?
Well you have to account for the Prebate somewhere. It gets deposited to my bank account just like my paycheck and becomes part of the money available for me to spend. How would you prefer to account for it?
Does the fair tax apply to purchase of a residence? Seems that this would put young people or those in high home price areas such as California at a big disadvantage. Otherwise if you are conservative in your spending as my house is, the fair tax is a great deal.
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