Fair Tax
Thread Starter
Shake n Bake!
Joined: Feb 2006
Posts: 11,794
Likes: 1
From: Pittsburgh, PA
Fair Tax
http://www.fairtax.org/site/PageServer
Whatcha think? I guess in a nutshell, this will abolish income tax and increase sales tax to 23(?) percent, so you get your full paycheck, but when you buy something (illegals aliens included), the .gov gets their money and this could either save you money or screw you depending on your buying habits.
Not sure how I feel about it.. it'd be nice to bring home 23% more, but it'd suck to pay 23% tax on a new car ($5290 on 23k) or tv ($276 on $1200).. potentially
Whatcha think? I guess in a nutshell, this will abolish income tax and increase sales tax to 23(?) percent, so you get your full paycheck, but when you buy something (illegals aliens included), the .gov gets their money and this could either save you money or screw you depending on your buying habits.
What is the FairTax plan?
The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including a progressive national retail sales tax, a prebate to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue neutrality, and, through companion legislation, the repeal of the 16th Amendment.
The FairTax Act (HR 25, S 296) is nonpartisan legislation. It abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing state sales tax authorities.
The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.
The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including a progressive national retail sales tax, a prebate to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue neutrality, and, through companion legislation, the repeal of the 16th Amendment.
The FairTax Act (HR 25, S 296) is nonpartisan legislation. It abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing state sales tax authorities.
The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.
- Enables workers to keep their entire paychecks
- Enables retirees to keep their entire pensions
- Refunds in advance the tax on purchases of basic necessities
- Allows American products to compete fairly
- Brings transparency and accountability to tax policy
- Ensures Social Security and Medicare funding
- Closes all loopholes and brings fairness to taxation
- Abolishes the IRS
Last edited by DarkStarr; May 10, 2010 at 10:05 AM.
Thread Starter
Shake n Bake!
Joined: Feb 2006
Posts: 11,794
Likes: 1
From: Pittsburgh, PA
and then this proposed Value Added Tax. Whatever the manufacturer has to pay in taxes to buy materials is only gonna get added into the price, which the consumer ends up paying, on top of the tax already being charged..
hood rich
Joined: Mar 2012
Posts: 35,752
Likes: 0
From: los josengeles
ill pay the higher sales tax and keep my earnings. all day everyday. higher sales tax only "sucks" cuz we're not used to it. higher sales tax gives us more control on our own money and how its taken. taxes are necessary and i dont mind paying taxes... i just mind it when my money is taxed twice.
FUCK THE IRS.
FUCK THE IRS.
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In Loving Memory
R.I.P. Huan Vo aka woong
01.14.1979 - 11.19.2008
In Loving Memory
R.I.P. Huan Vo aka woong
01.14.1979 - 11.19.2008
un-Touch'd krew
Joined: May 2001
Posts: 51,774
Likes: 1
From: My own level of hell
I agree wih it and think it is far more effective than the IRS management going on currently.
I like that it is paid based on money spent not money earned, most states have a sales tax but they also have an income tax which to me seems like a double taxation and I have always disagreed with being taxed twice on the same money.
I like that it is paid based on money spent not money earned, most states have a sales tax but they also have an income tax which to me seems like a double taxation and I have always disagreed with being taxed twice on the same money.
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"I'll keep my money, guns and freedom. You can keep the "Change."
"I'll keep my money, guns and freedom. You can keep the "Change."
hood rich
Joined: Mar 2012
Posts: 35,752
Likes: 0
From: los josengeles
