fair tax plan

[black10th vert]

Has anybody read Neal Boortz and John Linder's fair tax book. I just finished reading it and it looks like a good idea. I recommend everybody get it and take a look.

 

[Rochard]

Our taxes are screwed up. The richer you get the more oppertunities you have to get away with more so that you end up paying less.

My boss makes millions of dollars a year, yet somehow manages to pay a lot less taxes than I do. I wouldn't mind filing my taxes and getting $600k back from the IRS.

We should go to a flat tax system for everyone - 10%, no exceptions, nothing is deductiable.

 

[wvmystichrome]

Our taxes are screwed up. The richer you get the more oppertunities you have to get away with more so that you end up paying less.

We should go to a flat tax system for everyone - 10%, no exceptions,
nothing is deductiable.

I have always said this should be the way it is done. Except I would agree up to 12% but not more.

 

[sharkall2003]

I guess I am too young and naive but I say that we should be taxed 15-20 percent.

 

[Top_Fuel]

Has anybody read Neal Boortz and John Linder's fair tax book...

It's sitting on my desk right now. But I haven't started reading it yet. :bash:

For those interested, this book is about the FAIR tax, NOT a FLAT tax. What's the difference? Look HERE and HERE

 

[wvmystichrome]

I guess I am too young and naive but I say that we should be taxed 15-20 percent.

If they would do away with state sales tax and all the other little taxes you have to pay I could see that. But if they keep in place the state sales tax and all the other types then I think 10 - 12% is more than enough.

Today we are taxed:

Fed. Income Tax
State Income Tax (some states don't have but very few)
Social Security Tax
Medicare Tax
Sales tax on food - WV is 6%
Sales taxes on consumer goods - WV is 6%
Gasoline tax - WV is now over 46 cents per gallon (whopping 23% tax @ $2.45 per gallon)

Some also have to pay:
Local Taxes
County Taxes
City Taxes
Worker Taxes (towns tax your payday because you work in their jurisdicition.

This still does not include personal property taxes, real estate taxes, pet taxes and many others I might fail to see.

The constitution say we are not to have double taxation, but look at what we are paying. Our dollars are just not double taxed but taxed to death.

 

[wvmystichrome]

It's sitting on my desk right now. But I haven't started reading it yet. :bash:

For those interested, this book is about the FAIR tax, NOT a FLAT tax. What's the difference? Look HERE and HERE

I looked at the link and read through it. VERY VERY VERY interesting. Sounds
good if the country could get it to work.

What I hate is every year around here people brag about getting $4k, $5k, $6k and more back in taxes while I have to pay more in. Yet these people do
not work 40 hours or more a week some just work 20 hours or so. They don't want full time and full paying jobs because they won't get the big tax dollars back at the first of the year. Just does not seem fair when I work every day to make a living and afford something and these people buy boats cars and everything.

 

[Top_Fuel]

Simply put, the FairTax replaces the way we're currently taxed - based on our annual income - with a tax on goods and services. The FairTax is a voluntary “consumption" tax: the more you buy, the more you pay in taxes, the less you buy, the less you pay in taxes.

Everyone pays their fair share of taxes, and with the FairTax rebate, spending up to the poverty level is tax free. The Federal government is fully funded, including Social Security and Medicare, and you don't need an expert to determine your Federal taxes.

The Fair Tax replaces federal income taxes including, personal, estate, gift, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes.

FAIR TAX WEBSITE

 

[bigdog93lx]

Sounds very intersting. Gonna go pick the book up tonight

 

[f_rice]

I guess I am too young and naive but I say that we should be taxed 15-20 percent.

:nono:

I think 10% is more acceptable. You can pay more if you want.

Tax reduction and simplification would result in a system that does not punish success and create and economic explosion.

I am all for it.

 

[Top_Fuel]

This tax reform is NOT a pipe dream. This WILL be debated in congress and could be a reality with enough support... :thumbsup:

The FairTax is now reintroduced into the 109th Congress as HR 25 and in the Senate as S 25.

The President made tax reform a priority issue for his second term.

The bipartisan tax panel has been selected by the President to report to Treasury by July 2005. House leadership has named HR 25's key sponsor and champion, Congressman John Linder, to the Ways and Means and two of the most critical tax-writing sub committees.

Please visit this website http://clerk.house.gov and call or fax your Congressman. Let him know we need the FairTax. Send us his response at [email protected] or fax it to 713-963-8403.

We are asking everyone to call their 2 senators and congressman three times over the next 3 months. Can we count on you to do that? If so, please email us at [email protected] and we will give you some pointers.

 

[black10th vert]

I'm giving my support. I want to know why Senator George Allen of Va doesn't support it. He'll be getting a letter from me.

 

[0TriZzlePhatRid]

I have read the book and also had it signed and met Neal in person. The book is ingenius and i recommend everyone read it.

 

[bigdog93lx]

Sorry to resurect the dead. Started to fiinally read this book. Very good so far. I Didn't realize how much history there is to taxes (not that this is as history book at all). And how much we get taxed and don't even realize it.

 

[ON D BIT]

a straight sales tax should be enough. a sales tax of lets say 30% should cover everything that you are taxed for today.
that way the more you buy the more you pay in taxes. those who want the luxery items in life, baseball tickets, movie tickets, cars, additional housing, boats, etc, will pay additional taxes.

 

[DBK]

I certainly agree with the principle, but consumption taxes are almost always universally derided by the mediums that plant opinions amongst the masses. You can say "spending up to the poverty level is free" a thousand times and you'll still have masses claiming it unfairly targets the poor...

It'd be nice...

 

[0TriZzlePhatRid]

I believe it is a 17% tax. And necessities are not taxed (ie food, not cars)

 

[bigdog93lx]

a straight sales tax should be enough. a sales tax of lets say 30% should cover everything that you are taxed for today.
that way the more you buy the more you pay in taxes. those who want the luxery items in life, baseball tickets, movie tickets, cars, additional housing, boats, etc, will pay additional taxes.

I think 30% way to high. More like 10-15%. It Would also help if we cut government spending to since we spend way to much money as it is. less government is good

 

[svt32v99]

FAIR TAX WEBSITE

"Simply put, the FairTax replaces the way we're currently taxed - based on our annual income - with a tax on goods and services. The FairTax is a voluntary “consumption" tax: the more you buy, the more you pay in taxes, the less you buy, the less you pay in taxes.

Everyone pays their fair share of taxes, and with the FairTax rebate, spending up to the poverty level is tax free. The Federal government is fully funded, including Social Security and Medicare, and you don't need an expert to determine your Federal taxes.

The Fair Tax replaces federal income taxes including, personal, estate, gift, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes."

Here is the one HUGE flaw judging by that statement: Consumption. The main reason why this could never work in our society is because our whole economy is driven by consumption. And consumption creates the things in life that we all enjoy. Companies would not innovate because there are no incentives for people to buy their products (since they are taxed absurdly on them), then they can't hire as many people, etc...it just goes on and on.

I don't think that Fair Tax is the solution.

Oh yeah, and I have to say we cannot afford to punnish wealth. Everyone aspiring to become wealthy (in which every way they see fit) benefits us all.

 

[bigdog93lx]

Why wouldnt people buy products if they have and extra $700+ a month to spend?
I know i would (.)