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FairTax Plan

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posted on Oct, 20 2008 @ 11:14 PM
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So sitting here browsing youtube .. I typed in "Our Future" And I this Video with Chris Hannity.

Source

Pretty Interesting Video.
I am hearing this right?




posted on Oct, 20 2008 @ 11:22 PM
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fair tax is not good in any way shape of form! Just one more way to grow government bigger and bigger and bigger..

The Fair tax ain't fair .. either is any income tax, but that a different story all together.



posted on Oct, 21 2008 @ 12:28 AM
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I have to agree with E Ville! This fairtax idea is the kick in the ribs that the middle class does not need seeing as we are already down for the count! If you are going to do something this silly, you may as well tax EVERYONE 20% no breaks, no credits! At least the greasy feel of a flat tax is better than an (un)fairtax!



posted on Oct, 21 2008 @ 12:40 AM
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I don't understand how it is going to hurt anybody anymore than our current tax system already does.

You take home 100% of your paycheck, the goods we buy will not go up in price. It abolishes the IRS. If you need to save some money that month you only buy what you need.

The rich will end up paying there fair share because they will be getting taxed on spending their expendable income. People say that the revenue paid to the federal government will not be enough to sustain it. Simple fix for that one cut the budget.

Everybody comes out on top no matter what.



posted on Oct, 21 2008 @ 08:59 AM
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The fair tax puts more and more people on the government dole.. depending on income your get a check every month, and this instead of offering welfare to the poorest people it would put most of the middle class on thsi government pay schedule.

Now you say well that's fair.. but its not its just a way to take more income and float it for 30 days collect interest on it and then give it back..

Not to mention it would tax non citizens, it would tax you on everything.

And most likely the "income tax" would not go away also, so it would be another tax on top of what we pay now.. aand i knwo people say no this is to replace the income tax, but when was the last time that the government every eliminated a tax.

However i do feel it would be great for the black market, to avoid the tax you would go to the black market to get your stuff, and on the black market you have no recourse if something goes bad..

Fari tax is bad and also makes it virtually impossable to lessen your tax burden.. no way to get around the tax unless your totally self sufficient. At least with the income tax system we have now i can make deductions for things... however i feel any income tax is just free range slavery.



posted on Oct, 21 2008 @ 09:43 AM
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Here's a great "fair tax" plan. It can also be the model for the new 1040 form.

1) Enter the sum of income from all sources (wages, tips, dividends, business profits, etc.)
2) Enter the sum of all money taken out of savings, money gained from stock sales, business sales, etc.
3) Total lines 1&2.

Subtract all money put into savings, stocks, bonds, or put into a business.
Subtract your rent and/or mortgage for the year.
Subtract your electric bill for the year.
Subtract all insurance costs (including health and car insurance) for the year.
Subtract Heating costs from the year (if not electric).
Subtract transportation costs (car payment, subway cards, gasoline, car repairs, etc.) Note: if you pay cash for a car, you get to deduct the whole amount that year.
Subtract food costs
Subtract medicine costs (including vitamins, minerals, etc.)
Subtract Natural Gas/Liquid Propane bill.
Subtract Clothing costs.

Whatever is left over is taxed at 10%.

See how easy that is? If you used Quicken or MS Money to track your expenses during the year, it would take you LITERALLY 5 minutes to do your taxes.



posted on Oct, 21 2008 @ 11:39 AM
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What the fair tax was started as was a sales tax type of tax , a tax you pay when you buy anything,

\What you laid out above is simply what we do already yearly taxes.. all the stuff you listed is standard deduction type stuff.. plus there are alot of things you can now deduct that arn't in that list..

This system above sounds like a very easy way to get around taxes, buy lots of food and stuff and resell it on the black market you get to write it off anf them resell it at higher than resell it under the table..

Really the personal income tax is only like 700 billion a year out of 3-4 trillion bucks thats taken in every year.. if wed stop policing the world we would not even need a personal income tax.

Really the government makes us cut back and halt our personal spending through inflation, taxes on fuel and all the other various taxes, they should have to cut back a bit too.

If you want to look for tax reform work to eliminate it , all a income tax is partial slave labor , every day you work you work part of that day for the MASTA aka the government.

Its free range slavery, and i say this because if you don't pay the MASTA they come take all your crap away and lock you up.



posted on Oct, 21 2008 @ 12:20 PM
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Well the fair tax has a sunset clause written into it that says that the 16th amendment would have to be done away with or something like that. They would have to do it pretty rapidly too if they didn't want millions of angry American's crawling up their butts.

Personally I think it is a good idea. We would see an economic boom as in companies would come back here to set up shop since the business wouldn't have to pay any taxes.



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