the fair tax would get rid of the IRS. the fair tax would boost savings. friends, we need a fair Tax

Discussion in 'Politics' started by basquebromance, Oct 6, 2019.

  1. basquebromance
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    basquebromance Diamond Member

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    If Dems (and GOP for that matter) wanted REAL tax fairness and reform, they would beg Trump
    to pass the Fair Tax. Today wouldn't be tax day anymore. Bye-bye to IRS.

    Pass the FAIRtax | FAIRtax.org

    we need to overhaul and simplify the tax code, my friends!
     
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  2. Oddball
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    Oddball Unobtanium Member Supporting Member

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    Taxation turd polish, that fully funds a gubmint that is already far too big.

    Beside that....

    Bush.jpg
     
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  3. basquebromance
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    basquebromance Diamond Member

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    we need to encourage young entrepreneurs like Barron Trump (when he grows up), my friends!
     
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  4. Oddball
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    Oddball Unobtanium Member Supporting Member

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    We need to quit presuming that The fucking State is entitled to a third of my earnings.

    Fuck that shit.
     
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  5. Innocynioc
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    Innocynioc Rookie

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    What would boost savings is paying reasonable interest on savings.
     
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  6. basquebromance
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    basquebromance Diamond Member

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    i would design the fair tax in a way that it doesnt end up as a windfall for the rich. we need to focus on the poor, my friends. the best course in the long term is to simplify the tax code and eliminate taxes on savings
     
  7. kyzr
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    kyzr Gold Member

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    The "fair tax" only helps the 99th percentile, they don't need it. Fuck their "loopholes" too.
    They can afford to pay tax like the rest of us.
    Remember "we don't pay taxes, only little people pay taxes"?
    Leona Helmsley - Wikipedia

    upload_2019-10-7_16-32-34.png

    Here are recommendations to cut spending and raise revenue to start paying down the $22T Debt

    A. Hire another "Grace Commission" to audit and fix the Federal budget deficit

    B. B. Cut Spending: [CUT $625b a year]
    1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
    2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
    3. Cut Welfare $200b & Medicaid $200b (about half)
    4. Cut education $20b (state responsibility)

    US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
    Current US Defense Spending:
    Year Military Veterans Foreign Aid Total Defense
    2017 $598.70 billion $178.00 billion $46.30 billion $823.00 billion
    2018 $631.20 billion $180.40 billion $49.00 billion $860.50 billion
    2019 $684.60 billion $202.10 billion $54.30 billion $941.00 billion
    2020 $737.90 billion $219.20 billion $53.10 billion $1.00 trillion


    C. To cover the $900b budget deficit the following taxes need to be raised:
    1. Raise the top tax rate about 7% above 2016 levels +$400b
    2. Implement a new 3% Fed sales tax (aka VAT) +$400b
    3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
    4. Implement a new remittances tax/fee on all money sent out of the US https://www.americanthinker.com/articles/2018/05/tax_remittances_can_build_the_wall.html 2% of $140b is +$3b a year


    D. Reform entitlements, Medicare & Social Security, currently projected to be insolvent:

    1. Social Security will be unable to meet obligations (not technically "bankrupt") in 2034, paying only 79% of owed benefits, while it will be actually bankrupt around 2090.

    The Future of America’s Entitlements: What You Need to Know about the Medicare and Social Security Trustees Reports - AAF

    Social Security fixes:
    https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
    https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
    https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html


    2. Medicare will be insolvent in 2026
    https://www.forbes.com/sites/howardgleckman/2018/06/06/no-medicare-wont-go-broke-in-2026-yes-it-will-cost-a-lot-more-money/#d2edb707eb1c
    The Future of America’s Entitlements: What You Need to Know about the Medicare and Social Security Trustees Reports - AAF


    Medicare Fixes:
    https://www.fool.com/retirement/general/2016/03/27/7-ways-to-fix-medicare.aspx
    https://thehill.com/opinion/healthcare/369151-fix-what-weve-got-and-make-medicare-right-this-year
    https://www.nationalaffairs.com/publications/detail/how-to-save-and-fix-medicare
    https://www.aarp.org/content/dam/aarp/health/medicare-and-medicaid/2012-05/The-Future-Of-Medicare.pdf
     
  8. kyzr
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    kyzr Gold Member

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    We need to address the $22T Debt. Not cut taxes for the 1%, DUH.
     
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  9. basquebromance
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    basquebromance Diamond Member

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    it takes 2 days to start a business in australia, 6 days in america, and 18 days in germany and japan.

    america rocks!
     
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  10. Dick Foster
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    Dick Foster Gold Member

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    Trump can't pass that or any other tax or law.

    Try reading your constitution sometime. Till then say no more on similar topics.
     
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