Sebass1271
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Wed Feb-18-09 01:47 PM
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received this from a friend of mine. This group would like to eliminate all federal, payroll and estate taxes.. I am not sure if i support this bill because of the harm it will cause to the poor. I would like, however, your input and expertise on this subject. Who is this group supporting this? Are they republicans? their idea of eliminating taxes sound very rethug-like to me.
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atreides1
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Wed Feb-18-09 01:49 PM
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Sebass1271
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Wed Feb-18-09 01:52 PM
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NoPasaran
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Wed Feb-18-09 01:49 PM
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2. It's a favorite project of the Screwball Right n/t |
baldguy
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Wed Feb-18-09 01:50 PM
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3. And replace it with what? |
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Are they libertarian no-govt anarchist lunatics? Or are the just anti-tax crybabies?
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Sebass1271
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Wed Feb-18-09 01:53 PM
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7. progressive sales tax!!!!!!!!!!!!!!!!! |
Dappleganger
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Wed Feb-18-09 01:50 PM
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4. The only thing that's fair... |
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is eliminating all of the loopholes which allow the rich to get out of paying taxes.
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Sebass1271
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Wed Feb-18-09 01:52 PM
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5. here is the link for the crazy Fair Tax Idea |
Selatius
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Wed Feb-18-09 01:53 PM
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8. They want to replace the income tax with a national sales tax or consumption tax. |
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From the reports I read, it means a sales tax of roughly 23% on all goods and products sold regardless if it is off the store shelf or through bulk purchases like retailers and corporations often use for office supplies or to restock warehouses.
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lumberjack_jeff
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Wed Feb-18-09 01:54 PM
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9. The "fair tax" is a stupid idea from a very long line of stupid ideas. |
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If you think that a 44% sales tax is a good idea... let's just say we won't see eye to eye. http://www.brookings.edu/papers/1998/03taxes_gale.aspx
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Davis_X_Machina
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Wed Feb-18-09 01:56 PM
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10. Huckabee's campaign featured it.... |
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Edited on Wed Feb-18-09 01:57 PM by Davis_X_Machina
....and Neil Boortz has pushed it hard for years. Not good company...
The original plan was ginned up by a bunch of Houston real-estate machers, and has attracted the usual suspects.
We're talking about a Federal sales tax of between 24% and 30%, depending. I presently pay ~17% of my income in federal income taxes, and I'm in the fourth ($75-$100,000) income quintile. Add on my FICA, and it's about a wash, barely For everyone south of me -- and that's at least 60% of Americans -- it would be a tax increase.
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Sebass1271
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Wed Feb-18-09 01:59 PM
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11. why would these ppl support such if means tax increases in |
Davis_X_Machina
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Wed Feb-18-09 02:04 PM
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13. Because it's supported by the GOP... |
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...and that's a brand name they trust to deal with matters economic.
Seriously.
It's a simple solution to a complex problem, and simple solutions have their own constituency -- simpletons.
And it means they'll be spared the confiscatory -- just under 39% -- marginal rate on their Powerball winnings.
Because they're going to win Powerball someday.
Seriously.
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Enthusiast
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Wed Feb-18-09 04:23 PM
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19. Neil Boortz is a NAZI |
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He has never had a good idea. Stay away, far away.
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fmlymninral
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Wed Feb-18-09 01:59 PM
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12. I think the fair tax plan |
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Is a good idea. We are not a manufacturing based economy anymore we are a service based or consumer based economy so we need to tax consumption. the rich who consume more would pay more. Foreign goods which have no income tax, no ss tax, nor medicare tax would cost more while american products could be more competitive by eliminating those costs. Plan has a rebate provision for those in the lower income bracket. No need to hide monies as rich do now and would also capture the cash economy.
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Dr.Phool
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Wed Feb-18-09 02:16 PM
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14. A simple solution for simple minds. |
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When the rich try to hide their money to avoid taxes, confiscate all of it. They'll stop trying to hide it.
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Davis_X_Machina
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Wed Feb-18-09 02:22 PM
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16. In a 2004 study, Citizens for Tax Justice determined that |
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Edited on Wed Feb-18-09 02:23 PM by Davis_X_Machina
..."replacing most federal taxes with a national sales tax would mean very large tax increases on most Americans and very large tax cuts for the wealthy. The tables that follow speak for themselves, but a few important points can be highlighted: - In virtually every state in the union, the bottom 80 percent of taxpayers would face
much higher taxes under a sales tax. Nationwide, these tax increases would average about $3,200 a year.
- Put another way, on average the 80 percent of Americans in the middle- and lower-
income ranges would pay 51 percent more in sales taxes than they now pay in the federal taxes that the proposed national sales tax would replace.
- In contrast, the best-off one percent of all taxpayers nationwide would get average
tax reductions of about $225,000 each per year."
Source (PDF file..]
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Greyhound
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Wed Feb-18-09 02:25 PM
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18. Take a glance behind the curtain, this is a terrible idea based on a |
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series of fallacies/lies.
We could call it the "I can't do math" tax.
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Greyhound
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Wed Feb-18-09 02:21 PM
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15. Just about the only option that is worse than what we have, absolutely brilliant. n/t |
sinkingfeeling
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Wed Feb-18-09 02:25 PM
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17. Not something I'd ever support. Extremely regressive tax. |
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