IRS orders FedEx to pay $319 mln

http://www.marketwatch.com/ ^ | December 22, 2007 | Greg Morcroft,

[Taxman]

Thanks for the response.

I agree — IRS may have overstepped its mandate (NO! NOT AGAIN!). I hope FEDEX does appeal.

It would be interesting to hear FRom one of the drivers. Maybe you could interview one and post his thoughts?

[Hostage]

You think the federal government will ever collect enough taxes to pay off the national debt? If so, then you have much learning and awareness to gain.

The government will continue borrowing until it stops spending more than it takes in. And it won’t ever increase taxes enough to meet its current spending because taxes are already too high. The federal government keeps taking social security surpluses and adding them to the general fund while writing IOUs to a ledger of the national debt. Those social security surpluses will not last much longer.

But this is a part of a much larger subject.

The FairTax or the Income tax will be used to fund the federal government but neither will solve the coming entitlement crisis. That crisis will be addressed though a combination of tax, fiscal and monetary policies.

As far as your shallow comment that “No further comments are required”, you couldn’t be more wrong. This subject will receive increasing amounts of comment and will consume political elections.

As to your original post that stated the FairTax was dishonest, you have shown nothing that is dishonest about it. It is the Income tax that is dishonest, not the FairTax. The FairTax is transparent for all to see.