As I read these posts, I see very little discussion of how much life would be simplified by the Fair Tax.That's because you're wrong on most if not all points.
Wages, salaries and self-employment income are required to be reported.
If you want a (GAG!)"prebate" you'll have to disclose your dependants.
You are not "required" to disclose your charitable contributions now, what's your point?
How do you pay property taxes without the government knowing how much you paid?
If you have profits it means you sold something, you'll have to keep books on what and how much you sold it for, if they're taxable or not and if so remit 23% of your gross...including 23% of your self-employment income from services...How is that different again?
Savings and both interest paid and earned ARE taxable. There is a 23% tax on any amount over the basic FED FUND interest rate as well as a 23% (actually 30%) on any fees.
The Fairtax doesn't change banking laws requiring banks to report large deposits...so you could still hoard cash without the government knowing. But how is that any different?
Wages, salaries and self-employment income are required to be reported.
By whom? Certainly not the one that makes a purchase.
If you want a (GAG!)"prebate" you'll have to disclose your dependants.
This is the one point that separates you from demonstrating total ignorance of the Fair Tax. Obtaining a refund for overtaxation (prebate) does require disclosing some dependent information.
You are not "required" to disclose your charitable contributions now, what's your point?
You are "required" to do this if you want to pay the minimum legal tax.
How do you pay property taxes without the government knowing how much you paid?
I am sorry, I thought the topic was federal taxes. I do not pay property tax to the Feds. But, to get those wonderful federal income tax deductions, I have to tell the IRS how much I spent for the local property tax.
If you have profits it means you sold something, you'll have to keep books on what and how much you sold it for, if they're taxable or not and if so remit 23% of your gross...including 23% of your self-employment income from services...How is that different again?
You are way off. Profits are not taxed or reported to the government. Business record-keeping would also be simplified--a lot. The partners or stockholders may require detailed books to be kept, but the tax bureaucracy has no legitimate interest in net profit. They need to know the total of retail sales. If your sales are all to other businesses to use in their product, your business owes no Fair Tax. Items or services sold at retail would indeed require record-keeping, with records very similar to records used to pay state sales tax.
Savings and both interest paid and earned ARE taxable.
Wrong. Interest or dividends from investments are not taxed when received by the consumer. When paying "interest" on a loan, the payment has two components--interest and service. Fair Tax is paid on the service portion. The tax on financial instruments is only on the service portion. Buy stock at a brokerage and pay no tax on the stock and Fair Tax on the broker's commission.
That's because you're wrong on most if not all points.
I do wish you would try to read and comprehend the Fair Tax bill. It must be tiresome spreading so much misinformation.