Fair Tax?

[Jgennaro]

I've been hearing a lot about this lately. It very well could be a good idea!

www.fairtax.org

[BobTheBiker]

I"m not sure I understand it completely, so I need to figure out better exactly what it is before I say I like it or not.

[TriumphChris675]

sounds good from what i read.......... with things the way they are just about anything is worht a try.......plus those that are really wealthy will pay more which doesnt happen now

[rick1971]

bingo....that is the best idea since.........well........um.......group sex think about it, this is the only tax that is fair, i have researched this alot and it is perfect, the more you earn the more you spend the more tax you pay, the rich start paying taxes, hookers, drug dealers, illeagal imagrents, and strippers

[LeMans]

It's been around for a while. Great idea IMO but I doubt it will ever replace income tax.
I can see politicians liking the idea of adding a federal sales tax to the ones already in place though...

[WtfManz]

Wow something we all agree on! It must be good haha!

[pizzaman]

the spokesman can spin any question posed to him.
it is obviously bad for the people who make the laws,(congress and the justice department).....not to mention the IRS

i looked at it for about an hour this morning. It sounds real good, yes, but i'm just a middle class joe average.

i think it could cause a massive depression.
except for maybe the shipping industry until the economy collapsed.

I'd like to hear Ralph Nader's take on this. Is Ross Perot still alive?

[Jgennaro]

I like it because EVERYBODY pays! That means immigrants, illegals, retirees, working stiffs, foreigners, etcetera.

[bigguy]

I like it because EVERYBODY pays! That means immigrants, illegals, retirees, working stiffs, foreigners, etcetera.

thats whay i like it, im not to sure ho much i like it thoughcause if you were to go buy a new bike at say 10k your taxes are going to be 2300$!!! thats alot. but no taxes coming out of my check. is 1600 vs 1250 or so i get now. thats alot. so i am really mixed on it.

[SideShow]

I'm all for it.

[RICO]

Love the Idea, and would support it.
Only problem I see right off the bat is that there will be a surge in the black market.
Stolen goods will go up, hijacking trucks full of untraceable goods, maybe it will get rid of the IRS, but then they will need a new policing system for it.

Still sounds way better than what we have now.

[LatinBusa]

The rich will not let it happen. Don't forget that money is power.

[bratsky]

No disrespect, and I am sorry - I just have to say...
that is the best OXYMORON ever.

fair/tax
I didn't read the proposal, yet, it's just that the header cracked me up.

[stevewfl]

I wish I understood this fair tax policy being proposed by so many.

One thing I don't understand is how workman's comp for employees will be handled, how companies will be credited (tax break for things such as employees medical coverage expenses, travel expenses, research and development expenses (pharmaceutical companies and such). It seems as though this may cause such a burden to small business and large business, to compensate an immediate price hike on all good and services would take place, and companies would be forced to lay off, etc etc.

But I'm confident I'm lacking understanding, I just couldn't find anything addressing the simple matters on that web link.

[aeholton]

sounds good from what i read.......... with things the way they are just about anything is worht a try.......plus those that are really wealthy will pay more which doesnt happen now

Actually, quite the opposite. The wealthy pay the bulk of all income tax.

According the the US Treasury (2005 numbers):

Top 1% pay 33.7% of all income taxes
Top 5% pay 54.1% of all income taxes
Top 10% pay 65.8% of all income taxes
Top 25% pay 83.6% of all income taxes
Top 50% pay 96.4% of all income taxes
Bottom 50% pay only 3.6% of all income taxes

The fair tax would make it more even.

[stevewfl]

Actually, quite the opposite. The wealthy pay the bulk of all income tax.

According the the US Treasury (2005 numbers):

Top 1% pay 33.7% of all income taxes
Top 5% pay 54.1% of all income taxes
Top 10% pay 65.8% of all income taxes
Top 25% pay 83.6% of all income taxes
Top 50% pay 96.4% of all income taxes
Bottom 50% pay only 3.6% of all income taxes

The fair tax would make it more even.

+1

good post - the working class Obama is targeting is waking up to his BS. You increase taxes even more on the top and price of goods and services go up, along with job cuts. Any tax increase gets passed to the consumer and company employees in a gift basket.