Fair Tax Talk here

[GuyinBrown]

I wasn't implying that I support either side, just that it was something I found when I Googled "Fair Tax" and was curious what others thought of it. I, for one, prefer to hear both sides of a story instead of being led around like a sheep. Remember, there are 3 sides to every story. Your side, their side, and the truth....

 

[GuyinBrown]

A pack of butts here is $9.50.

The way your currency is climbing, pretty soon you'll be crossing the border to smuggle cartons of cigarettes back home....

 

[satellitedriver]

This fairtax thing eludes me.Here in Canada,the only thing they dont tax is food .An 8% provincial sales tax plus a 7% GST tax for everyting else.
Then they take out the federal tax off my paycheck...example gross pay $1271.58 minus $354.20 in taxes=$838.38 .Luxury taxes for beer and smokes is outrageous.A pack of butts here is $9.50.
Be leary of this fairtax thing it sounds too good to be true.JMO

Time for you to move to Texas, DS. I buy my butts for $15 a carton(via Native Americans) a 30 pak of old mil. costs $13.99.
The 2007 US Income tax rate based on filling jointly is:
Assumption of $100,000.00 after all deductions.
10%, $0 to $15650.00 = $1565.00
15%, $15,650.00 to $63700.00 = $7208.00
25%, $63,700.00 to $128,000.00= $9,075.00
So, what you pay is $17,848.00 in income tax.
The effective tax rate is 17.85% on $100,000
Where most people lose concept is they believe all the money they earn is taxed at the highest rate.
The higher paided people in the U.S. pay more taxes by the fact that we have a sliding scale.
This does not apply to the super rich, but then, nothing does.
The flat tax of 15% would hurt the lower income people more than our present tax code does.
Also, in Texas you don't have to drive in snow very often.
PAX

 

[DS]

I dont want to live in Texas.I`d be paying 25% .
One important thing,I've had 2 colonoscopys and a hemmoroid operation and it didn't cost me a cent.I dont have to pay to see a doctor.That counts for a lot .I'm not big on guns either.If this fairtax thing works i`ll be surprised.It sounds nice but I smell corruption at the administration level before its even implemented.I guess I'm jaded.

 

[satellitedriver]

I dont want to live in Texas.I`d be paying 25% .
One important thing,I've had 2 colonoscopys and a hemmoroid operation and it didn't cost me a cent.I dont have to pay to see a doctor.That counts for a lot .I'm not big on guns either.If this fairtax thing works i`ll be surprised.It sounds nice but I smell corruption at the administration level before its even implemented.I guess I'm jaded.

I've had 4 colonoscopys, one last month. Payed nothing but a co-pay ( about 20 bucks).
Sorry to hear about the hemmeroid thing. OUCH!!!!!
Texas is not all about guns, cattle and oil. You might be amazed at what this State has to offer, besides low taxes.
PAX

PS. You pay more than 25% where you are now.

 

[diesel96]

I've had 4 colonoscopys, one last month. Payed nothing but a co-pay ( about 20 bucks).
Sorry to hear about the hemmeroid thing. OUCH!!!!!
Alright already..enough with the Preperation H talk......Had my phyiscal with my own personal doc the other day and rec'v the rubber glove treatment

Texas is not all about guns, cattle and oil. You might be amazed at what this State has to offer, besides low taxes.
PAX
Steers and queers?.....lol, just kidding(movie quote)
You'all have the Dallas Cowboy Cheerleaders and redneck chicks with wrangler jeans (no pockets)

PS. You pay more than 25% where you are now.

 

[LKLND3380]

The rate would be around %15 if passed, A flat tax is different as it still leaves loop holes, and it doesnt eliminate double taxing. The exemption under the Fair tax which everybody is entitled is for the products that shouldnt be taxed like groceries and clothes, that money you get should go to those things, but you can spend it anyway you want, but remember if you chose to not spend it on Groceries or clothes then you will incur a tax on the other products, also let me remind you there will be no State sales tax no more property taxes, just a flat %15 consumption tax, the reasoning for the low rate is that now EVRYBODY pays even the criminals, as far as embedded taxes and companys not lowering the price......remember this is a free market and is driven by consumer demand, if one company wants to get ahead they will drop the price accordingly, and everybody will follow suit, it is a bueatiful thing this free market

I was just guessing at a rate... But at 15% can we lower it more and INCLUDE groceries and clothes? Maybe that would bring it down to 10%?

There must be State Sales Taxes and Property Taxes to control how much money stays in that state for local government and programs...

 

[LKLND3380]

A consumption TAX IS NOT REGRESSIVE, before you talk goto www.fairtax.org , If you listened to my earlier post everybody has a deduction and it is BASED on HOW MUCH MONEY and kids you have, the money you get from the Deduction is for Groceries and Clothes, the poor will get the BIGGEST deduction followed by the middle class, then the upper class, also no taxes on savings, ONLY WHEN YOU SPEND YOUR SAVINGS, and like the current tax system ISN'T REGRESSIVE?????????????????????????????????????????????????

With the flat rate Federal Sales Tax I don't believe anyone should be EXEMPT.. If you have 1 child or 40 children you pay the flat rate...

Chances are the poor or needy will be on welfare or other programs that are funded by the flat tax...

In order to have a deduction - one would probably have to file paperwork... Someone will have to approve... That equals government waste and contributes to Big Government...

A flat rate Federal Sales Tax would probably cut the IRS by 50% to 75%... How much money is spent investigating and prosecuting tax fraud? How much money is spent on printing tax forms that are only good for a specific year? Sure it may be printed on newspaper stock and recycled but even that costs money...

The US Post Office is a FOR PROFFIT company just like UPS... Just think how much money they make from people filing taxes. Just think how much money they make delivering all those refund checks... Flat Tax with NO EXEMPTIONS means no filing and no refund checks.

A flat Federal Sales Tax with no exemptions could pull the country out of the deficit.

 

[sawdust]

I'm with you! Fair tax sounds great to me.
That's why the pol's hate it.

 

[1timepu]

With the flat rate Federal Sales Tax I don't believe anyone should be EXEMPT.. If you have 1 child or 40 children you pay the flat rate...

Chances are the poor or needy will be on welfare or other programs that are funded by the flat tax...

In order to have a deduction - one would probably have to file paperwork... Someone will have to approve... That equals government waste and contributes to Big Government...

A flat rate Federal Sales Tax would probably cut the IRS by 50% to 75%... How much money is spent investigating and prosecuting tax fraud? How much money is spent on printing tax forms that are only good for a specific year? Sure it may be printed on newspaper stock and recycled but even that costs money...

The US Post Office is a FOR PROFFIT company just like UPS... Just think how much money they make from people filing taxes. Just think how much money they make delivering all those refund checks... Flat Tax with NO EXEMPTIONS means no filing and no refund checks.

A flat Federal Sales Tax with no exemptions could pull the country out of the deficit.

Under the Fair tax, there are no deductions, no loopholes, no double taxing, this is a consumption tax, unlike the Flat tax there will be still double taxing, loopholes and deductions, you get a credit under the fair tax for how much you make and how many kids this is for yur grocceries and clothes, which is illegal to tax, the poor will get a bigger credit because most of their income goes to those things, it works like this If the Fair Tax passes, first every household in the country will get paper work to fill out, you have to put the names of your family and social security numbers for each member, this is to eliminate fraud, the the goverment will issue a Fair Tax card, your credit will carry a balance on it, when you go clothes shopping you bring it to the check out line you swipe your fair tax card and it deducts the tax

 

[satellitedriver]

I don't see any horns on you Bubba. Ha,Ha.
My way of finishing your movie quote.
The jeans thing, I have to totally agree with you.
OK, back to tax talk.
PAX

 

[LKLND3380]

If the Fair Tax passes, first every household in the country will get paper work to fill out, you have to put the names of your family and social security numbers for each member, this is to eliminate fraud, the the goverment will issue a Fair Tax card, your credit will carry a balance on it, when you go clothes shopping you bring it to the check out line you swipe your fair tax card and it deducts the tax

So what you are saying is I [single] can give my money to a friend [married with kids and low income] who has deductions and they can buy items for me at a lesser tax rate?

 

[GuyinBrown]

So what you are saying is I [single] can give my money to a friend [married with kids and low income] who has deductions and they can buy items for me at a lesser tax rate?

Good point

 

[1timepu]

So what you are saying is I [single] can give my money to a friend [married with kids and low income] who has deductions and they can buy items for me at a lesser tax rate?

Do you buy as much clothes as a family of 4??? do you eat as much as a family of 4? so thento why would your credit be as much as a family of 4??? please explain

 

[toonertoo]

So what you are saying is I [single] can give my money to a friend [married with kids and low income] who has deductions and they can buy items for me at a lesser tax rate?

No one will have deductions anymore!!!!!!!!!!!!!!!
It will be up to you to spend like the 15-20% of your check you never see!!!!!!!
LKLND3380, I have always read and enjoyed the wisdom in your posts, you need to read up on this and get others on board. I think once you do, you will be all for it! You are obviously a leader.

food and clothes will be included, there will be a flat tax on everything. But lets say you make 350 pw, and you pay 100 in taxes........fica, and federal..But the flat tax will be approx 23%. So that week all you buy is 50$ in groceries, so your bill will be 62.50. So you have paid 12.50 in taxes that week vs 100. So in September you are looking at the 2009 cars and if you buy a 30k car, you will pay, 6900 in tax, pretty steep, heh? Not really...You would have paid 6 to 13 % anyway depending on where you live, and on top of that they would still be taking the 18-25% out of your check, and on all the other taxes anyway. But you decide to buy the 2008 model which has just a few miles, guess what NO TAX!!!!!!!!! No tax on used merchandise. I by far am no expert. But check out the site, or the book by Neal Boortz. And then let me know what you think. Have a great one. tooner

 

[Google]

WHAT DOES THIS HAVE TO DO WITH UPS? You have a political agenda and should be posting elswhere............!

 

[LKLND3380]

Do you buy as much clothes as a family of 4??? do you eat as much as a family of 4? so thento why would your credit be as much as a family of 4??? please explain

You and I have the right to have NO kids or have a family of 4... IF you are going to have one kid or eight, that is YOUR choice... If someone wants to have a family of 4 then they should have a job that pays enough to support them.

You are saying single people should be penalized for not being married and having kids?

 

[LKLND3380]

No one will have deductions anymore!!!!!!!!!!!!!!!
It will be up to you to spend like the 15-20% of your check you never see!!!!!!!
LKLND3380, I have always read and enjoyed the wisdom in your posts, you need to read up on this and get others on board. I think once you do, you will be all for it! You are obviously a leader.

food and clothes will be included, there will be a flat tax on everything. But lets say you make 350 pw, and you pay 100 in taxes........fica, and federal..But the flat tax will be approx 23%. So that week all you buy is 50$ in groceries, so your bill will be 62.50. So you have paid 12.50 in taxes that week vs 100. So in September you are looking at the 2009 cars and if you buy a 30k car, you will pay, 6900 in tax, pretty steep, heh? Not really...You would have paid 6 to 13 % anyway depending on where you live, and on top of that they would still be taking the 18-25% out of your check, and on all the other taxes anyway. But you decide to buy the 2008 model which has just a few miles, guess what NO TAX!!!!!!!!! No tax on used merchandise. I by far am no expert. But check out the site, or the book by Neal Boortz. And then let me know what you think. Have a great one. tooner

Back up a couple of posts and you will see this is what I have been saying...

Someone else brought up deductions and I objected...

I am 100% for a Flat Rate Federal Sales Tax that ALL must pay... Citizens, non citizen vacationers, children, elderly, prostitutes, drug dealers, terrorists...

I do believe in addition we need local taxes on property and vehicles because that is what supports local government. Someone in Washington should not decide how money is spent in Boise Idaho for police and roads. If you do it based on population then how do you figure in major interstates that are fequently traveled in that state? Increases in crime? Plus we do not need Federal Government threatening to cut funds if a state does not do as they are told. Example is Seatbelt laws, any state without a manditory seatbelt law will not get highway funds. I am not against seatbelt laws but I am against bullying - Do this or loose this...

 

[1timepu]

You and I have the right to have NO kids or have a family of 4... IF you are going to have one kid or eight, that is YOUR choice... If someone wants to have a family of 4 then they should have a job that pays enough to support them.

You are saying single people should be penalized for not being married and having kids?

Come on now tell your parents that one when you where a kid, did you have any siblings??It is not a matter of getting a job to support them most Americans do that, expect the ones on welfare, but there is NO TAXES on clothes and FOOD at the FOODSTORE, it is illegal to tax these items they arent even taxed under this current system, so to not break the LAW the new system cant tax these other, so what are you saying?? Behind your theaory nobody would have Kids and this country would go down the tubes!

 

[Griff]

This thread is a bit offtopic but I do support fairtax or at least some form of tax reform. There will always be a way to cheat the tax system, with this Fairtax it looks like a black/underground market will be the way to cheat.