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Every Conservatard Ever said:"hurr let's abolish taxes"
"durr repeal da sixteenf amendment"
"y my money gotta go 2 soshul securidy"
"we shud just hav a fair tax, thatll solve muh prollems"
The FairTax is a proposal to reform the federal tax code of the United States. It would replace all federal income taxes (including the alternative minimum tax, corporate income taxes, and capital gains taxes), payroll taxes (including Social Security and Medicare taxes), gift taxes, and estate taxes with a single broad national consumption tax on retail sales. The Fair Tax Act (H.R. 25/S. 122) would apply a tax, once, at the point of purchase on all new goods and services for personal consumption.
The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or "prebate", of tax on purchases up to the poverty level.
As defined in the proposed legislation, the tax rate is 23% for the first year. This percentage is based on the total amount paid including the tax ($23 out of every $100 spent in total). This would be equivalent to a 30% traditional U.S. sales tax ($23 on top of every $77 spent$100 total).[4] The rate would then be automatically adjusted annually based on federal receipts in the previous fiscal year.[5] With the rebate taken into consideration, the FairTax would be progressive on consumption,[2] but would also be regressive on income at higher income levels (as consumption falls as a percentage of income).[6][7] Opponents argue this would accordingly decrease the tax burden on high-income earners and increase it on the middle class.[4][8]
Under the FairTax, family households of lawful U.S. residents would be eligible to receive a "Family Consumption Allowance" (FCA) based on family size (regardless of income) that is equal to the estimated total FairTax paid on poverty level spending according to the poverty guidelines published by the U.S. Department of Health and Human Services.[1] The FCA is a tax rebate (known as a "prebate" as it would be an advance) paid in twelve monthly installments, adjusted for inflation. The rebate is meant to eliminate the taxation of household necessities and make the plan progressive.[4] Households would register once a year with their sales tax administering authority, providing the names and social security numbers of each household member.[1]
A good would be considered "used" and not taxable if a consumer already owns it before the FairTax takes effect or if the FairTax has been paid previously on the good, which may be different from the item being sold previously. Personal services such as health care, legal services, financial services, and auto repairs would be subject to the FairTax, as would renting apartments and other real property.[4] Food, clothing, prescription drugs and medical services would be taxed.
Every Conservatard Ever said:"hurr let's abolish taxes"
"durr repeal da sixteenf amendment"
"y my money gotta go 2 soshul securidy"
"we shud just hav a fair tax, thatll solve muh prollems"
Will it, conservatard? When conservatards and libertardians hear the phrase "fair tax," they naturally rally around whoever's speaking. But is this the smart thing to do? Let's investigate what exactly is meant when we hear a politician calling for a "fair tax".
The only fair tax is a flat tax: whatever percent applied to gross, no deductions for anything.
Every Conservatard Ever said:"hurr let's abolish taxes"
"durr repeal da sixteenf amendment"
"y my money gotta go 2 soshul securidy"
"we shud just hav a fair tax, thatll solve muh prollems"
Will it, conservatard? When conservatards and libertardians hear the phrase "fair tax," they naturally rally around whoever's speaking. But is this the smart thing to do? Let's investigate what exactly is meant when we hear a politician calling for a "fair tax".
It sounds like an intentional distortion of the Black dialect.
A racist rant?
Part I: The FairTax
https://en.wikipedia.org/wiki/FairTax
The FairTax is a proposal to reform the federal tax code of the United States. It would replace all federal income taxes (including the alternative minimum tax, corporate income taxes, and capital gains taxes), payroll taxes (including Social Security and Medicare taxes), gift taxes, and estate taxes with a single broad national consumption tax on retail sales. The Fair Tax Act (H.R. 25/S. 122) would apply a tax, once, at the point of purchase on all new goods and services for personal consumption.
The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or "prebate", of tax on purchases up to the poverty level.
As defined in the proposed legislation, the tax rate is 23% for the first year. This percentage is based on the total amount paid including the tax ($23 out of every $100 spent in total). This would be equivalent to a 30% traditional U.S. sales tax ($23 on top of every $77 spent$100 total).[4] The rate would then be automatically adjusted annually based on federal receipts in the previous fiscal year.[5] With the rebate taken into consideration, the FairTax would be progressive on consumption,[2] but would also be regressive on income at higher income levels (as consumption falls as a percentage of income).[6][7] Opponents argue this would accordingly decrease the tax burden on high-income earners and increase it on the middle class.[4][8]
Well would you look at that--it's not a "fair tax" at all, but rather the FairTax, which would crush the middle class and absolutely slaughter the lower class by introducing a nearly 30% federal sales tax, on top of whatever your state and local sales taxes are.
Keep in mind, Wrongpublicans, that the FairTax does not abolish state income taxes, nor does it touch local property taxes. A typical North Carolina resident, for example will be paying an 8% state income tax, a sales tax of 7-8% in most places (this depends upon exactly where you live), and a 30% federal sales tax.
If you happen to buy something that's a bit too nice for your plebeian hands to touch, your local government will levy a property tax on that, too--meaning that the car you just paid 30% extra for will still be subject to addition taxation.
The speech pattern is reminiscent of the democrat segregationists when they were kicking Blacks out of restaurants. Is it a veiled threat against the Black population? You betta stay on de democrat plantation and not even think of being a republican or we will get y'all.
Part II: Subsidies for the FairTax
And for all you libertardians who say the government shouldn't be running a welfare state? You conservatards who don't want to fund poor, downtrodden Shamika, a single mom of 5 kids by 4 manpigs?
https://en.wikipedia.org/wiki/FairTax#Monthly_tax_rebate
Under the FairTax, family households of lawful U.S. residents would be eligible to receive a "Family Consumption Allowance" (FCA) based on family size (regardless of income) that is equal to the estimated total FairTax paid on poverty level spending according to the poverty guidelines published by the U.S. Department of Health and Human Services.[1] The FCA is a tax rebate (known as a "prebate" as it would be an advance) paid in twelve monthly installments, adjusted for inflation. The rebate is meant to eliminate the taxation of household necessities and make the plan progressive.[4] Households would register once a year with their sales tax administering authority, providing the names and social security numbers of each household member.[1]
That's right--the FairTax wouldn't just give tax credits to Shamika, which she receives currently, but would in fact subsidize hyr choice to have as many kids as possible. In fact, the FairTax would subsidize more of hyr chyldryn than she could ever hope to claim as dependents under the current income tax system.
All of you self-styled "constitutionalists" and "civil libertarians" that have been mindlessly following your huckster herdsmen, pay attention: The FairTax would create even more of the "problems" you want to get rid of.
Part III: The Mathematical Deception of the FairTax
I can hear your conservatard reactions to the title now. "B-B-BUT, IT'S FAIR! How can it be deceptive?!"
I'll explain.
Some of you may have been wondering why in some instances, the FairTax is cited as being a 23% sales tax, and in others, it's 30%. This is because of how prices are presented to the consumer.
Traditionally, goods are presented as being tax-exclusive rather than tax-inclusive. An example: You go to Walmart to buy a picture frame in which to place your life-size printout of Rachel Maddow. The frame is priced at $50. Is this the price you pay? Unless you happen to live in one of the minority of states that doesn't levy a sales tax, of course not. You pay $50, PLUS whatever sales tax rate is charged at the point of sale. This is called tax-exclusive pricing. This is where the 30% rate comes from.
What about the 23% figure? That's tax-inclusive, which means that the rate given to us is presented when calculating the percentage of tax AFTER you have added the tax to the cost of the goods you're purchasing. Sound confusing? Good, that's exactly what Congressional Wrongpublicans were angling for when they introduced it.
To further our understanding, let's return the our Rachel Maddow picture frame example. Under a tax-inclusive system, we may pay $100 for the frame, and tax-happy politicians could make the claim that the sales tax rate levied on it is "only 50%" since the taxes represent only 50% of the amount we pay for the item. But it's a $50 frame, so the sales taxes were an additional $50--making the sales tax rate not 50%, but in fact 100%, as the tax rate on the frame is 100% of the frame's value, thus doubling the amount you have to pay for it. Tax-exclusive rates are much more honest, as they reflect the cost the seller is charging you, and calculate the amount of tax separately.
The amounts proposed by the FairTax are not quite as drastic, so the difference between the tax-inclusive and tax-exclusive calculations winds up being only about 7%; even still, this is rather drastic, especially when you consider that many states only charge 7% or less in sales tax to begin with.
Will it, conservatard? When conservatards and libertardians hear the phrase "fair tax," they naturally rally around whoever's speaking. But is this the smart thing to do? Let's investigate what exactly is meant when we hear a politician calling for a "fair tax".
It sounds like an intentional distortion of the Black dialect.
I think you mean "African-American," bigot.
A racist rant?
Part I: The FairTax
https://en.wikipedia.org/wiki/FairTax
The FairTax is a proposal to reform the federal tax code of the United States. It would replace all federal income taxes (including the alternative minimum tax, corporate income taxes, and capital gains taxes), payroll taxes (including Social Security and Medicare taxes), gift taxes, and estate taxes with a single broad national consumption tax on retail sales. The Fair Tax Act (H.R. 25/S. 122) would apply a tax, once, at the point of purchase on all new goods and services for personal consumption.
The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or "prebate", of tax on purchases up to the poverty level.
As defined in the proposed legislation, the tax rate is 23% for the first year. This percentage is based on the total amount paid including the tax ($23 out of every $100 spent in total). This would be equivalent to a 30% traditional U.S. sales tax ($23 on top of every $77 spent$100 total).[4] The rate would then be automatically adjusted annually based on federal receipts in the previous fiscal year.[5] With the rebate taken into consideration, the FairTax would be progressive on consumption,[2] but would also be regressive on income at higher income levels (as consumption falls as a percentage of income).[6][7] Opponents argue this would accordingly decrease the tax burden on high-income earners and increase it on the middle class.[4][8]
Well would you look at that--it's not a "fair tax" at all, but rather the FairTax, which would crush the middle class and absolutely slaughter the lower class by introducing a nearly 30% federal sales tax, on top of whatever your state and local sales taxes are.
Keep in mind, Wrongpublicans, that the FairTax does not abolish state income taxes, nor does it touch local property taxes. A typical North Carolina resident, for example will be paying an 8% state income tax, a sales tax of 7-8% in most places (this depends upon exactly where you live), and a 30% federal sales tax.
It's not the equivalent of the 30% sales tax, dingbat. It's the equivalent of a 23% sales tax. The left constantly lies about the FAIR tax, and the above is just another example.
State income taxes are based on Federal income tax returns. If no one has to file a federal income tax return, then what are states going to base their taxes on? Obviously, they'll have to rewrite their tax codes. Furthermore, if we repeal the 16th Amendment, then income taxes will no longer be allowed. Until the 16th was passed, the Constitution specifically prohibited the income tax.
If you happen to buy something that's a bit too nice for your plebeian hands to touch, your local government will levy a property tax on that, too--meaning that the car you just paid 30% extra for will still be subject to addition taxation.
What stops them from doing that now?
It sounds like an intentional distortion of the Black dialect.
I think you mean "African-American," bigot.
A racist rant?
You really are one stupid ****. You don't even know what the "black market" is, do you? Here's a hint, it's not a grocery store where black people shop, you witless dung heap.
Part I: The FairTax™
https://en.wikipedia.org/wiki/FairTax
Well would you look at that--it's not a "fair tax" at all, but rather the FairTax™, which would crush the middle class and absolutely slaughter the lower class by introducing a nearly 30% federal sales tax, on top of whatever your state and local sales taxes are.
Keep in mind, Wrongpublicans, that the FairTax™ does not abolish state income taxes, nor does it touch local property taxes. A typical North Carolina resident, for example will be paying an 8% state income tax, a sales tax of 7-8% in most places (this depends upon exactly where you live), and a 30% federal sales tax.
It's not the equivalent of the 30% sales tax, dingbat. It's the equivalent of a 23% sales tax. The left constantly lies about the FAIR tax, and the above is just another example.
OH FUCKING REALLY.
Since you're obviously TOO MAGNIFICENTLY STUPID AND ADHD to be able to read the thread the whole way through, including portion where I address this very limp-wristed, autistic argument, I'll dumb it down for you. Get ready to have your mind blown, conservatard bigot:
You buy an item that costs $50.
You pay $50 in sales tax.
The amount you pay for the item is thus $100.
What, then, is the sales tax rate? Is it 50%, since only 50% of the amount you paid for the item is taxes? Or is it 100%, since the amount of taxes levied on the item you bought was equal to 100% of that item's actual cost?
This is a matter of whether or not the stated rate relies upon tax-inclusive or tax-exclusive calculations. This is the difference between the figures of 23% and 30%.
IF YOU CANNOT UNDERSTAND THESE BASIC MATHEMATICAL CALCULATIONS, YOU MAY NEED TO RE-ENROLL IN THIRD GRADE.
I'm glad that you, too, are against the repeal of the federal income tax. Welcome to the Democratic Party.
If you happen to buy something that's a bit too nice for your plebeian hands to touch, your local government will levy a property tax on that, too--meaning that the car you just paid 30% extra for will still be subject to addition taxation.
What stops them from doing that now?
Read the thread, conservatard. Nothing is stopping any entity from doing that, and it's exactly what the thread states--the Fair Tax Act DOES NOT ADDRESS local property taxes.
Part III: The Mathematical Deception of the FairTax
I can hear your conservatard reactions to the title now. "B-B-BUT, IT'S FAIR! How can it be deceptive?!"
I'll explain.
Some of you may have been wondering why in some instances, the FairTax is cited as being a 23% sales tax, and in others, it's 30%. This is because of how prices are presented to the consumer.
Traditionally, goods are presented as being tax-exclusive rather than tax-inclusive. An example: You go to Walmart to buy a picture frame in which to place your life-size printout of Rachel Maddow. The frame is priced at $50. Is this the price you pay? Unless you happen to live in one of the minority of states that doesn't levy a sales tax, of course not. You pay $50, PLUS whatever sales tax rate is charged at the point of sale. This is called tax-exclusive pricing. This is where the 30% rate comes from.
What about the 23% figure? That's tax-inclusive, which means that the rate given to us is presented when calculating the percentage of tax AFTER you have added the tax to the cost of the goods you're purchasing. Sound confusing? Good, that's exactly what Congressional Wrongpublicans were angling for when they introduced it.
To further our understanding, let's return the our Rachel Maddow picture frame example. Under a tax-inclusive system, we may pay $100 for the frame, and tax-happy politicians could make the claim that the sales tax rate levied on it is "only 50%" since the taxes represent only 50% of the amount we pay for the item. But it's a $50 frame, so the sales taxes were an additional $50--making the sales tax rate not 50%, but in fact 100%, as the tax rate on the frame is 100% of the frame's value, thus doubling the amount you have to pay for it. Tax-exclusive rates are much more honest, as they reflect the cost the seller is charging you, and calculate the amount of tax separately.
The amounts proposed by the FairTax are not quite as drastic, so the difference between the tax-inclusive and tax-exclusive calculations winds up being only about 7%; even still, this is rather drastic, especially when you consider that many states only charge 7% or less in sales tax to begin with.
23% is the tax exclusive rate, numskull, so all your claims based on that are pure horseshit. I'd like to know where you come up with this 30% rate, because no one ever proposed that.
