Republicans offer fraudulent tax reform, the alleged FairTax

[Lesh]

/——/ I’m 71 and retired 7 years, living on option trading, real estate gains, SS, book royalties and a small pension. What am I confused by?

Clearly you're well off. Very few are as fortunate

 

[Ray From Cleveland]

Not likely?

In 2008 the market lost HALF it's value.

It's currently in a slump. How many examples do you need

If you lost a couple thousand...you had little invested

I don't have a ton of money but my investment company knows how to move things around to minimize my losses. That's why it's pure stupidity to invest yourself unless you have the education and experience in investing.

When the market went down under DumBama, my investment company quit buying shares. When the market started to recover, they dumped that money into the market once again. I was getting two to three shares for the price they were buying them for before the housing collapse. It was like a 2 for 1 sale at the store.

 

[Lesh]

I don't have a ton of money but my investment company knows how to move things around to minimize my losses. That's why it's pure stupidity to invest yourself unless you have the education and experience in investing.

When the market went down under DumBama, my investment company quit buying shares. When the market started to recover, they dumped that money into the market once again. I was getting two to three shares for the price they were buying them for before the housing collapse. It was like a 2 for 1 sale at the store.

A. it wasn't under Obama you idiot

B. Had you retired without Social Security at that time you would have been eating those losses

 

[Ray From Cleveland]

A. it wasn't under Obama you idiot

B. Had you retired without Social Security at that time you would have been eating those losses

Maybe, but if I had all the money I put into SS since I started working, I would still have been better off at a loss than having money that paid little interest.

Yes, the market went down after the housing crash which was when DumBama was President.

 

[Cellblock2429]

Clearly you're well off. Very few are as fortunate

/——/ I worked hard, got my education going to college part time, lived within my means, and saved wisely. I never needed a new car every few years, modest vacations, didn’t eat out much, and now I can travel often and do the things I had to put off. Yeah, I’m well off.

 

[Lesh]

/——/ I worked hard, got my education going to college part time, lived within my means, and saved wisely. I never needed a new car every few years, modest vacations, didn’t eat out much, and now I can travel often and do the things I had to put off. Yeah, I’m well off.

Don't sprain your elbow patting yourself on the back.

As noted you are clearly far more fortunate than most Americans.

Your experience matters little in this discussion

 

[Lesh]

Maybe, but if I had all the money I put into SS since I started working, I would still have been better off at a loss than having money that paid little interest.

Yes, the market went down after the housing crash which was when DumBama was President.

Are you ALWAYS wrong you stupid fuck?

Timeline of U.S. Stock Market Crashes

Throughout history, stock market crashes have posed a threat to both U.S. financial markets and citizens. Here is a timeline detailing each event.

www.investopedia.com

Sept of 2008.

Bush was president

 

[Cellblock2429]

Don't sprain your elbow patting yourself on the back.

As noted you are clearly far more fortunate than most Americans.

Your experience matters little in this discussion

/——/ So you’re not interested in what works. You only want to harp on the failures. Got it.

 

[Lesh]

/——/ So you’re not interested in what works. You only want to harp on the failures. Got it.

"What works" for wealthy folks like yourself is not what works for the average American

 

[Oddball]

It's guaranteed and it works

It's the shittiest "investment" of all time.

 

[Lesh]

It's the shittiest "investment" of all time.

It's not an investment. it's retirement insurance

 

[Oddball]

It's not an investment. it's retirement insurance

It's a fucking Ponzi sheme that's demographically unsustainable, rube.

 

[Lesh]

It's a fucking Ponzi sheme that's demographically unsustainable, rube.

Ponzi schemes don't last 100 years idiot

 

[johnwk]

CNN's, Katie Lobosco, lies about the FairTax proposal.​

.
I see the Republican Leadership in the House is still promoting a fraudulent and deceptive tax reform idea which would actually enlarge the federal government’s taxing authority. And our popular media is cleverly covering up what the FairTax scheme would actually do.

See: House GOP keeps up attacks on IRS with bill to abolish the agency

By Katie Lobosco, CNN, Mon January 23, 2023

"The Republicans’ Fair Tax Act is not a new idea. A version was first introduced in Congress in 1999. It’s never had enough support to become law, but it puts forth an appealing message to those Americans who love to hate the federal tax agency.

It would get rid of the complicated federal tax system, doing away with the annual task of filing tax returns. Instead, the bill would replace federal taxes on individual and corporate income with a national 23% sales tax …"

Of course, Katie Lobosco of CNN misrepresents and does not report that the “FairTax” plan, if adopted, would increase the annual tax return filing to twelve fricking times a year! [“CHAPTER 5, OTHER ADMINISTRATIVE PROVISIONS, SEC. 501. MONTHLY REPORTS AND PAYMENTS].

Why do they continue to lie about the FairTax?

JWK

“Until you realize how easy it is for your mind to be manipulated, you remain the puppet of someone else’s game.” ― Evita Ochel

 

[Ray From Cleveland]

CNN's, Katie Lobosco, lies about the FairTax proposal.​

.
I see the Republican Leadership in the House is still promoting a fraudulent and deceptive tax reform idea which would actually enlarge the federal government’s taxing authority. And our popular media is cleverly covering up what the FairTax scheme would actually do.

See: House GOP keeps up attacks on IRS with bill to abolish the agency

By Katie Lobosco, CNN, Mon January 23, 2023


Of course, Katie Lobosco of CNN misrepresents and does not report that the “FairTax” plan, if adopted, would increase the annual tax return filing to twelve fricking times a year!

Why do they continue to lie about the FairTax?

JWK

“Until you realize how easy it is for your mind to be manipulated, you remain the puppet of someone else’s game.” ― Evita Ochel

What are you worried about? It has little chance of passing the House yet alone the Senate and get Dementia's signature.

 

[johnwk]

CNN's, Katie Lobosco, lies about the FairTax proposal.​

.
I see the Republican Leadership in the House is still promoting a fraudulent and deceptive tax reform idea which would actually enlarge the federal government’s taxing authority. And our popular media is cleverly covering up what the FairTax scheme would actually do.

See: House GOP keeps up attacks on IRS with bill to abolish the agency

By Katie Lobosco, CNN, Mon January 23, 2023


Of course, Katie Lobosco of CNN misrepresents and does not report that the “FairTax” plan, if adopted, would increase the annual tax return filing to twelve fricking times a year! [“CHAPTER 5, OTHER ADMINISTRATIVE PROVISIONS, SEC. 501. MONTHLY REPORTS AND PAYMENTS].

Why do they continue to lie about the FairTax?

JWK

“Until you realize how easy it is for your mind to be manipulated, you remain the puppet of someone else’s game.” ― Evita Ochel

What are you worried about? It has little chance of passing the House yet alone the Senate and get Dementia's signature.

Why are "conservative" Republicans in the House promoting this fraudulent taxing scheme that would, if adopted, strengthen and enlarge the federal government's taxing authority?

JWK

 

[Ray From Cleveland]

Why are "conservative" Republicans in the House promoting this fraudulent taxing scheme that would, if adopted, strengthen and enlarge the federal government's taxing authority?

JWK

I don't think it would. Their idea is to get rid of (or greatly reduce) the IRS. Dementia wants to hire 87,000 new IRS workers. To me that's reducing government and it's power, not expanding it.

 

[Ringo]

 

[johnwk]

I don't think it would. Their idea is to get rid of (or greatly reduce) the IRS. Dementia wants to hire 87,000 new IRS workers. To me that's reducing government and it's power, not expanding it.

Have you studied H.R.25 (the legislative language of the FairTax Act) 2023-24? I have, and if adopted it:

creates an entirely new tax, a 23 percent tax on articles of consumption, and on “taxable property”;

creates two new tax collecting agencies, an “Excise Tax Bureau” and the “Sales Tax Bureau", in addition to keeping the Bureau of Alcohol, Tobacco and Firearms alive, which will also be collecting taxes.

Imposes the new 23% “FairTax” on American citizens and businesses while Congress’ power to lay and collect taxes on “incomes” remains fully intact;

requires taxpayers to file Fair Tax returns twelve times a year;

requires ordinary working people to register with government in order to exercise a fundamental right of mankind . . . selling the property each has in their own labor;

requires ordinary people to become tax collectors for government;

requires taxpayers to keep whatever records Congress may dream up;

allows Congress to lay and collect countless “excise taxes” which members of Congress may dream up, and are calculated from profits, gains and other incomes;

and creates a new entitlement, the “Family Consumption Allowance” [a monthly government check sent to every “qualified family” in the U.S.] that would become another political partisan wedge-issue used during election time to buy votes.


Why on earth would any politician, regardless of their political party affiliation, support this rope-a-dope proposal which enlarges and strengthens the federal government’s iron taxing grip around their constituents’ necks?

 

[Cellblock2429]

Why are "conservative" Republicans in the House promoting this fraudulent taxing scheme that would, if adopted, strengthen and enlarge the federal government's taxing authority?

JWK

/----/ "that would, if adopted, strengthen and enlarge the federal government's taxing authority"
If it actually did that, then demoicRATs would line up to vote for it.