Why tax income and subsidizes failures?

[akelch]

The tax code is over 70,000 pages large and no one understands it. We spend billions of dollars a year just to comply with the tax code.

If we are really serious about growing our economy....this is the first place we should start.

The FairTax will create more jobs and tax revenue then the trillions we spent in stimulus. And it is only 133 pages long.

Thoughts?

 

[EdwardBaiamonte]

The tax code is over 70,000 pages large and no one understands it. We spend billions of dollars a year just to comply with the tax code.

If we are really serious about growing our economy....this is the first place we should start.

The FairTax will create more jobs and tax revenue then the trillions we spent in stimulus. And it is only 133 pages long.

Thoughts?

Well, let's always remember that taxes don't create jobs, people who invent new products do; they got us from the stone age to here; they are responsible for economic growth.

 

[akelch]

Exactly.....so are you saying the tax code does not effect this?

 

[akelch]

Typo .....the Fair Tax is only 33 pages.

 

[Mr. H.]

133 down to 33. Damn you're good.

 

[EdwardBaiamonte]

Exactly.....so are you saying the tax code does not effect this?

the liberals can throw a monkey wrench into the machinery and harm economic growth and they can take it out to get us back to neutral, but they cant really cause growth because they are bureaucrats who don't invent new products.

 

[akelch]

Exactly.....so are you saying the tax code does not effect this?

the liberals can throw a monkey wrench into the machinery and harm economic growth and they can take it out to get us back to neutral, but they cant really cause growth because they are bureaucrats who don't invent new products.

That is why the income tax destroys economic growth.

In order to have a government you will always need taxes. The question is how do you collect them so they do the least amount of harm. Taxing productivity doesn't make sense.
The Fair Tax has no exemptions and in across the board. If you raise it....it is raised for everyone.

 

[The Rabbi]

The tax code is over 70,000 pages large and no one understands it. We spend billions of dollars a year just to comply with the tax code.

If we are really serious about growing our economy....this is the first place we should start.

The FairTax will create more jobs and tax revenue then the trillions we spent in stimulus. And it is only 133 pages long.

Thoughts?

Fair Tax sucks. It is a VAT in other form. Look at how VAT is implemented in other countries and we dont want that here. I am sure Income Tax started off pretty simply as well (actually it did: one page and most people didnt have to fill it out.).
And no one is going to enact Fair Tax any more than we are going on the gold standard.
I would rather see the Flat Tax. An exemption up to $30k and 18% for every dollar above that, period no exceptions.

 

[akelch]

It's not a VAT in the form you describe.

A flat tax is no different then our current system. It taxes productivity. People will still evade it by lying and hiding their earns. The rich will not collect a income so they will not have to pay. We will still need to fill out paper work and file every year.

None of this would be a issue under the Fair Tax.

 

[AmyNation]

The fair tax is very regressive, and would end up being shouldered mostly by the poor.

 

[Moonglow]

just get rid of all taxes and i will be happy

 

[uscitizen]

Why tax income and subsidizes failures?

We have always subsidized our 2 main political parties.

 

[uscitizen]

The only "fair tax" is a pure flat rate tax with no deductions.
10% on 1,000 or 1,000,000,000.

No different rates for type of income.

 

[akelch]

The only "fair tax" is a pure flat rate tax with no deductions.
10% on 1,000 or 1,000,000,000.

No different rates for type of income.

So people that make Millions in capital gains would pay no taxes?

 

[akelch]

The fair tax is very regressive, and would end up being shouldered mostly by the poor.

It is the least regressive. It has a prebate that will allow every house hold to receive a check every month that is based on the people in their family. This will off set the taxes on products for that month.

Plus, everyone currently pays 22% of embedded taxes on all products they purchase. Rich or poor.

 

[The Rabbi]

It's not a VAT in the form you describe.

A flat tax is no different then our current system. It taxes productivity. People will still evade it by lying and hiding their earns. The rich will not collect a income so they will not have to pay. We will still need to fill out paper work and file every year.

None of this would be a issue under the Fair Tax.

So people won't evade a national sales tax? In what universe? People will still try to figure out ways around it and you will still need an enforcement mechanism plus new regs.
You are theoretically correct about taxing consumption over income but that doesn't outweigh the other issues.

 

[akelch]

It's not a VAT in the form you describe.

A flat tax is no different then our current system. It taxes productivity. People will still evade it by lying and hiding their earns. The rich will not collect a income so they will not have to pay. We will still need to fill out paper work and file every year.

None of this would be a issue under the Fair Tax.

So people won't evade a national sales tax? In what universe? People will still try to figure out ways around it and you will still need an enforcement mechanism plus new regs.
You are theoretically correct about taxing consumption over income but that doesn't outweigh the other issues.

What other issues?

In order for you to evade the Fair Tax you will need a second party to agree to not collect the tax from you....in which they will be held accountable and prosecuted. Good luck getting them to agree to save you money.

 

[The Rabbi]

It's not a VAT in the form you describe.

A flat tax is no different then our current system. It taxes productivity. People will still evade it by lying and hiding their earns. The rich will not collect a income so they will not have to pay. We will still need to fill out paper work and file every year.

None of this would be a issue under the Fair Tax.

So people won't evade a national sales tax? In what universe? People will still try to figure out ways around it and you will still need an enforcement mechanism plus new regs.
You are theoretically correct about taxing consumption over income but that doesn't outweigh the other issues.

What other issues?

In order for you to evade the Fair Tax you will need a second party to agree to not collect the tax from you....in which they will be held accountable and prosecuted. Good luck getting them to agree to save you money.

The other issues are that it would require legislative agreement and movement that is so radical it won't happen. It would be politicked to death by people with a vested interest in gaming the system. There would be loopholes of one kind or another that would take teams of lawyers to exploit.
Do you think people do not evade state sales taxes now? Really?

 

[EdwardBaiamonte]

The only "fair tax" is a pure flat rate tax with no deductions.
10% on 1,000 or 1,000,000,000.

No different rates for type of income.

actually the ony fair tax or price is the one everyone pays. When you walk in a supermarket everyone pays the same price for a can of soup. When you pay for a fighter plane, for example, the same principle should apply.

So, every American taxpayer should pay $27,000 if the Feds want to spend $4 trillion a year.

 

[akelch]

So people won't evade a national sales tax? In what universe? People will still try to figure out ways around it and you will still need an enforcement mechanism plus new regs.
You are theoretically correct about taxing consumption over income but that doesn't outweigh the other issues.

What other issues?

In order for you to evade the Fair Tax you will need a second party to agree to not collect the tax from you....in which they will be held accountable and prosecuted. Good luck getting them to agree to save you money.

The other issues are that it would require legislative agreement and movement that is so radical it won't happen. It would be politicked to death by people with a vested interest in gaming the system. There would be loopholes of one kind or another that would take teams of lawyers to exploit.
Do you think people do not evade state sales taxes now? Really?

I understand your concerns, but the issues you talk about have nothing to do with the Fair Tax but everything to do with people and our representatives. I support the bill as it is designed currently and I believe most Americans would but that is no guarantee that they will not try and change it. Politicians and businesses will be threatened by it and will try and twist it their favor.
My goal is to spread the word so everyone knows exactly what it is and why it is structured the way it is.

And yes...people do try and evade sales tax. But really, do you think we will loose even half the amount of taxes with the Fair Tax as we do with the income tax from cheaters?