Concerned American
Diamond Member
Sorry, LOL, I guess that is an unforeseen benefit of being folically challenged.When I used to go to the barber I paid tax.
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Sorry, LOL, I guess that is an unforeseen benefit of being folically challenged.When I used to go to the barber I paid tax.
I did not state that property tax in Connecticut is 13%, I stated a person in connecticut with an income of $10 a hour would pay 13% of their pay in property tax
Not being taxed? When I buy clothing and shoes I pay tax. When I used to go to the barber I paid tax.
I think only one tax is the only fair way to tax. Nothing else by any government or agency. The governments and all their agencies should be forced to only tax a dollar when it is spent. Not when it is earned.
Spend a buck, get taxed once. Stop the government theft.
Sorry, LOL, I guess that is an unforeseen benefit of being folically challenged.
I haven't been to anyone to get my hair cut since 2001.
I haven't been since 1998. My sister asked me when I went home in February "How do you keep it all the same length?" I said "it isn't". I cut it myself, usually using nail scissors.
Wrong? You are an idiot, this is not one plus one. This thread is pure opinion.Wrong.
First of all, the feds should be out of it entirely, and only states should be able to tax at all.
Second is that only the states and municipalities provide services that need or deserve taxes, like schools, police, roads, etc.
The feds provide nothing.
Third is that the ability to pay varies greatly from state to state, federal taxes are always totally unfair.
Forth is that if you do not tax it when earned, it can be spent overseas instead.
It's not a "fair tax" its a "consumption tax".Almost every poster here, pro and con knows nothing about how the fair tax actually would work.
The federal government does not currently impose sales tax in used goods, so there would be no loss to them.Forgot about that. Taxes are collected only one time on purchases.
Honestly though, now that I’m discussing it…it does make me wonder how it would affect revenue. The government would be losing all income tax from people and companies, no more sales tax on used items, no social security or Medicare tax..it is starting to make me wonder if the consumption tax would be able to replace all of that
Not to go back on my original argument but I only brought this up because I was curious about what other people thought of it.
I’m seeing that most people think it’s a bad idea, which is fair (no pun intended)
Yes, but they already do, it’s now simply baked into the cost of the product they buy and hidden from them. Under a fair tax, as in the case of the toaster in the OP, the net affect on the poor consumer is a 0% increase in the cost of the product.Wouldn’t it make low income folks who have no federal tax liability have to pay tax on every penny they spend?
It's not a "fair tax" its a "consumption tax".
Another "fair tax" proposed is actually a "flat tax"
These bullshit whiny tax schemes are going nowhere.
Wrong.
It makes no sense at all.
The main source of wealth is not from the production and sales of good, so will not be taxed.
Like investments in production in China, like iPhones won't be taxed if they are sold outside the US.
Yet things currently not taxed and essential to poor people like buying a home, would suddenly be unaffordable due to the new federal sales tax.
Otherwise known as a consumption tax.
From the Neal Boortz radio show, this is broken down into 5 parts but each part is pretty short:
Part 1:
Part 2:
Part 3:
Part 4:
Part 5:
And here’s another talk he had on it that gives more context:
Neal Boortz FAIRtax vs Republican Tax Plan
So, the key points are:
Eliminates all federal taxation from your check.
You get to keep 100% of your earnings (state taxes are addressed in the presentation as well)
Eliminates all corporate taxes, which will create an economic boom as companies all over the world will want to move their headquarters to America to take advantage of being able to operate tax free.
There is no longer a need to file taxes, so there is no longer a need for an IRS.
Not a single penny of the fair tax is paid until your very basic needs are met (housing, food, etc), this is done in the form of a prebate that the government sends you at the beginning of each month.
How it’s done:
A 20 million dollar study was done on the fair tax, and the result was, they found out that, depending on the product, from start to finish, the entire process from raw material to finished product, there is between 18% and 25% in taxes paid from manufacturers and suppliers that adds to the cost of the product.
The proposal is tax neutral, which means the consumer will pay no more for a product than they did before.
The idea is to eliminate those taxes, which will lower the cost of goods and services, but charge a 23% sales tax on everything you buy.
Here’s how it works:
The example given was a $100 toaster. They estimate the taxes paid in the process of manufacturing that toaster was 23%, or, $23 out of $100. So, if you take those taxes out of the process, the taxes that the makers would have to pay in the process of making that toaster, it would lower the cost of the toaster to $77. At the point of sale, a $23 tax is charged for that toaster.
$77 goes to the retailer and $23 goes to the government. The retailer gets paid, and the customer is still paying $100 for that toaster…the same as they did before. All of this is from you being able to keep 100% of your income, and getting a prebate so all your basic needs are paid for.
*****
My comments are…YOU could control the amount of tax you pay dependent on how much you buy/consume, those who buy more expensive things (rich people) pay more in taxes.
So, what is wrong with this plan? Where does it fail? Seems like a solid idea to me…thoughts?
Otherwise known as a consumption tax.
From the Neal Boortz radio show, this is broken down into 5 parts but each part is pretty short:
Part 1:
Part 2:
Part 3:
Part 4:
Part 5:
And here’s another talk he had on it that gives more context:
Neal Boortz FAIRtax vs Republican Tax Plan
So, the key points are:
Eliminates all federal taxation from your check.
You get to keep 100% of your earnings (state taxes are addressed in the presentation as well)
Eliminates all corporate taxes, which will create an economic boom as companies all over the world will want to move their headquarters to America to take advantage of being able to operate tax free.
There is no longer a need to file taxes, so there is no longer a need for an IRS.
Not a single penny of the fair tax is paid until your very basic needs are met (housing, food, etc), this is done in the form of a prebate that the government sends you at the beginning of each month.
How it’s done:
A 20 million dollar study was done on the fair tax, and the result was, they found out that, depending on the product, from start to finish, the entire process from raw material to finished product, there is between 18% and 25% in taxes paid from manufacturers and suppliers that adds to the cost of the product.
The proposal is tax neutral, which means the consumer will pay no more for a product than they did before.
The idea is to eliminate those taxes, which will lower the cost of goods and services, but charge a 23% sales tax on everything you buy.
Here’s how it works:
The example given was a $100 toaster. They estimate the taxes paid in the process of manufacturing that toaster was 23%, or, $23 out of $100. So, if you take those taxes out of the process, the taxes that the makers would have to pay in the process of making that toaster, it would lower the cost of the toaster to $77. At the point of sale, a $23 tax is charged for that toaster.
$77 goes to the retailer and $23 goes to the government. The retailer gets paid, and the customer is still paying $100 for that toaster…the same as they did before. All of this is from you being able to keep 100% of your income, and getting a prebate so all your basic needs are paid for.
*****
My comments are…YOU could control the amount of tax you pay dependent on how much you buy/consume, those who buy more expensive things (rich people) pay more in taxes.
So, what is wrong with this plan? Where does it fail? Seems like a solid idea to me…thoughts?
Not gonna work. It's basically a sales tax.
What about property taxes. Water bills, the old Spanish/American war tax on telegraph that we pay today on internet fees....
It doesn't streamline anything except the government's claim on your wallet. Then there's all the taxes on gasoline, tobacco, alcohol, and firearms....permits and docking fees for cargo ships. (These pay a LOT of taxes) pipeline fees for petroleum companies both onshore and offshore (billions right there in taxes)
It puts the burden on people.
If you want to gain more tax dollars....stop the cap on Social security taxes. Stop all tax exemptions on foreign nationals. Stop giving illegal aliens tax dollars. START a stock and bond tax but include a retirement fund exemtion. (A form of property tax that actually hits those needing to pay some sort of taxes)
Because corporations never really drop prices...that's never happened before I don't see it happening now. There's marketing to make you believe they have....but they really don't.Question. If the fair tax results in a 0% increase to the consumer in price, why have a prebate in the first place?
There's a ton of taxes on everything and every activity.None of the above are income taxes to begin with and fall outside the proposal.
The math is really bad. Right now, that toaster brings in $23 in taxes. You pay $23 in income tax. So the toaster brings in $46. Under that systems, the toaster only brings in $23.Now you pay $23 in income tax on the wages you buy a toaster with, and the change is to eliminate income tax entirely and only pay a $23 sales tax when you buy the toaster.
It's magic!!!!
Or, the math is really, really bad.