Are you another one of those "you better keep your Government hands off my Medicare?"
Tax rates. What say you?
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Are you another one of those "you better keep your Government hands off my Medicare?"
No. I will never have a need for it. Just pointing out that those that want more and more social programs do not want their taxes to match what it costs.
canceled.2021.1
#AMERICAISDEAD
Are you surprised?
No. Just thought it was an interesting difference to bring up.
Since the sales tax would have to be about 30% to equal current revenues, that is adding a lot of expense to all products and services. I can see the reason you do not want to increase cost to low income people by 30%, but that also destroys a lot of the simplicity of a sales tax.
Supposedly, prices could be reduced because businesses are no longer paying income taxes on those products, but few businesses pay 30%.
How do you exempt lower income from the sales tax? You would have to have them file income taxes with the amount of money they spend in sales tax annually. The Fair Tax would rebate every family a set amount based on family size--that means some government agency has to send out rebates to every family in America every month.
The Fair Tax people claim it would only take a 23% sales tax, but they are not being honest with their math.
We already have a progressive tax system. The bottom 50% pays only 4% of all federal income taxes while the top 20% pays 80%.
I wasn’t talking a sales tax, I was talking an income tax.
Ok. The "Fair Tax" is an organization proposing to replace all federal income taxes with a national sales tax. That is what I thought you were referring to by fair tax.
Did not vote you king. Fact is threads generally morph into a fuller discussion. This silly one demands it.
canceled.2021.1
#AMERICAISDEAD
You were given a second chance and failed. You will be retro’d
Why do morons on the left think people are too dumb to have their own health coverage?
What you seem to be missing is that under the Fair Tax, a large part of the underground economy would start paying taxes they do not pay currently.
Drug dealers spend money on cars and goods; they would now be paying taxes. Currently, they do not pay taxes because their cash based income is untraceable.
The math works; why don't you check out the math on their website and get back to me? Better yet, buy the book and read it like I did.
https://fairtax.org/about/how-fairtax-works
The FAIR Tax you talked about is a national sales tax.
I have studied their plan. If a product cost $100 and $130 after the sales tax, what percent was the sales tax?
Taxing the underground economy is an advantage although I have seen that questioned. Currently, the drug dealer does not pay federal income taxes but those buying his drugs do have their income taxed. Under the Fair Tax the income of the buyer is not taxed and he does not pay a sales tax to the drug dealer, so it comes out about even.
But my main hesitation is the increased price we pay for all goods and services, the bureaucracy necessary to send a rebate to all American families monthly, the possibility for fraud with the rebates (it is based on the number of children).
I have not seen anything within the FAIR tax equation suggesting a tax of more than 18%.
We're not talking about the buyer or the dealer paying the tax; it is when they buy products themselves they are paying the tax.
First off; you are already paying the increased price. You just never see it.
The bureaucracy would be less than what it currently is. When you abolish the Tax code, you also significantly reduce the massive bureaucracy necessary to run it and audit people. You do understand that the current system is an honor system where the threat of imprisonment is the only enforcement technique. That too would go away under the Fair Tax.
It is not so much the rate as the loopholes for the likes of Trump and Romney.
Really? What about the likes of all those massively rich liberals? They don't take advantage of them either? STFU you partisan hack hypocrite on steroids.
The FAIR Tax would resolve claims like these because there would be no exemptions, exclusions or credits.
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#AMERICAISDEAD
That is so awesome that Rana is talking about something which she obviously knows nothing about.
Leftists are so uninformed and uneducated.
Think she will have the self awareness to admit she was wrong?
That's a silly question; Liberals have ZERO self awareness which is why they are massive hypocrites and never get much of anything right.
