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

basquebromance

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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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basquebromance

basquebromance

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we need to encourage young entrepreneurs like Barron Trump (when he grows up), my friends!
 

Innocynioc

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What would boost savings is paying reasonable interest on savings.
 
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basquebromance

basquebromance

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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
 

kyzr

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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
 
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basquebromance

basquebromance

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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!
 

Dick Foster

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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!
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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basquebromance

basquebromance

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Dick Foster

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

Try reading your constitution sometime. Till then say no more on similar topics.
i read the constitution every day
Then maybe you need help with reading comprehension. Cite the part where the administration enacts tax law. The administration can sign off on it or veto but the veto can be overturned so it's the job of congress alone.
 

Lesh

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A "fair tax" is nothing but a new name for a flat tax.

Which is a HUGE tax cut for the very wealthy and a MONSTER tax increase for everyone else.
 

g5000

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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!
As a conservative, I like the Fair Tax. It is a tax on consumption, rather than a tax on production like the income tax is.

It also mitigates the regressive nature of a sales tax with the prebate.

However, no tax reform will be of any use if we allow exemptions to the Fair Tax. And you can bet your bottom dollar that is exactly what would happen. Just like the special interests have done to our income tax, they would thoroughly corrupt the Fair Tax by paying our politicians to put exemptions to the tax in the tax code.

We need to get to the root of the problem. And the root is the fact we allow our politicians to put exemptions, deductions, and credits in our tax code on behalf of special interests. We need to take that power away from them.
 

g5000

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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!
We need to address the $22T Debt. Not cut taxes for the 1%, DUH.
If you are in favor of tax deductions, exemptions, and credits, then you are not really interested in reducing the debt.
 

LordBrownTrout

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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!
Real tax fairness would start eliminating 99 percent of the taxes that we're paying, not creating new ones.
 

Sunsettommy

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A "fair tax" is nothing but a new name for a flat tax.

Which is a HUGE tax cut for the very wealthy and a MONSTER tax increase for everyone else.
False!

Flat Tax--- A "flat tax" is an income tax system in which everyone pays the same tax rate regardless of how much income they have.

Fair Tax-- The FairTax is a national sales tax that treats every person equally and allows American businesses to thrive, while generating the same tax revenue as the current four-million-word-plus tax code. Under the FairTax, every person living in the United States pays a sales tax on purchases of new goods and services, excluding necessities due to the prebate.

=================================

Fair Tax makes it impossible to cheat on taxes, and no IRS needed as it is immediately applied on every purchase. Save a lot of money and headache in the process.

Fair Tax is way better than Flat Tax, since there are no need to keep track of anything as it is applied every time you buy something. No more tax filings, No more paperwork, no more having to pay more or get a refund on last years taxes, since all that is eliminated by Fair Tax.

The rest you say is old worn out baloney.
 

g5000

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A "fair tax" is nothing but a new name for a flat tax.

Which is a HUGE tax cut for the very wealthy and a MONSTER tax increase for everyone else.
Nope. A "flat tax" is an income tax.

The Fair Tax is a sales tax. A tax which everyone pays. Drug dealers, hookers, tourists, you, me, your neighbors, everyone.
 

BlindBoo

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We don't have revenue problem. We have a spending problem.

Balanced Budget Amendment and Term limits on Congress.
 

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