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The FairTax Act, from Rep. Rob Woodall (R-Ga.), would abolish the 16th Amendment, which was ratified 100 years ago this February. That amendment gives Congress the power to impose income taxes without having to spend the revenues evenly among the states.
from the article it appears that a few are trying to get behind it.
Originally posted by DarthMuerte
The fairtax will never pass, even though it is exactly what we need. Get rid of all other taxes(at the federal level) and implement this system. No irs, no obama care tax, it can all be gone. It would be the biggest shift of power going toward the people and away from government since the articles of confederation after the American revolution. Our politicians will never allow it to pass.
Originally posted by DarthMuerte
The fairtax will never pass, even though it is exactly what we need. Get rid of all other taxes(at the federal level) and implement this system. No irs, no obama care tax, it can all be gone. It would be the biggest shift of power going toward the people and away from government since the articles of confederation after the American revolution. Our politicians will never allow it to pass.
Originally posted by jimmyx
Originally posted by DarthMuerte
The fairtax will never pass, even though it is exactly what we need. Get rid of all other taxes(at the federal level) and implement this system. No irs, no obama care tax, it can all be gone. It would be the biggest shift of power going toward the people and away from government since the articles of confederation after the American revolution. Our politicians will never allow it to pass.
so...if a person makes 10 million a year, but only spends 1 million a year...he is taxed on 10% of his income
and...if a person makes 50 thousand a year, and spends 45 thousand...he is taxed on 90% of his income
Originally posted by bigfatfurrytexan
Originally posted by jimmyx
Originally posted by DarthMuerte
The fairtax will never pass, even though it is exactly what we need. Get rid of all other taxes(at the federal level) and implement this system. No irs, no obama care tax, it can all be gone. It would be the biggest shift of power going toward the people and away from government since the articles of confederation after the American revolution. Our politicians will never allow it to pass.
so...if a person makes 10 million a year, but only spends 1 million a year...he is taxed on 10% of his income
and...if a person makes 50 thousand a year, and spends 45 thousand...he is taxed on 90% of his income
The notion that my INCOME is taxed is absurd. The concept of taxation that our nation was founded on was the taxation of commerce.
If I choose to invest 50k, I am taxed on that income once, then taxed on the dividends annually. Why should my investment become a revenue stream for the government?
Originally posted by jimmyx
Originally posted by DarthMuerte
The fairtax will never pass, even though it is exactly what we need. Get rid of all other taxes(at the federal level) and implement this system. No irs, no obama care tax, it can all be gone. It would be the biggest shift of power going toward the people and away from government since the articles of confederation after the American revolution. Our politicians will never allow it to pass.
so...if a person makes 10 million a year, but only spends 1 million a year...he is taxed on 10% of his income
and...if a person makes 50 thousand a year, and spends 45 thousand...he is taxed on 90% of his income
Originally posted by tkwasny
A flat tax on all financial transactions between companies and between a company and a private citizen, without any exceptions, will finally get at the massive underground economy. People being paid under the table, drug dealers, etc all have to but clothes, food, gas, etc at some point.
It also makes the 51% of the citizens not paying ANY income tax because they make below the taxable threshold when they file their taxes, pay the same taxes as a billionaire. Fair share taxation.
Originally posted by tkwasny
Originally posted by jimmyx
Originally posted by DarthMuerte
The fairtax will never pass, even though it is exactly what we need. Get rid of all other taxes(at the federal level) and implement this system. No irs, no obama care tax, it can all be gone. It would be the biggest shift of power going toward the people and away from government since the articles of confederation after the American revolution. Our politicians will never allow it to pass.
so...if a person makes 10 million a year, but only spends 1 million a year...he is taxed on 10% of his income
and...if a person makes 50 thousand a year, and spends 45 thousand...he is taxed on 90% of his income
Tax all financial transactions. The $10M a year earner must move that money in some way other than stick in under a mattress.
Originally posted by jimmyx
bill gates made 208,333,000 million dollars a day in 2011, if he spent 2,000 thousand dollars everyday of the year to live on, that's all he would be taxed on. the other approx. 207,000,000 million dollars a day, everyday, no taxes!....sweet dealedit on 7-1-2013 by jimmyx because: (no reason given)
NESARA implements the following changes:
1. Zeros out all credit card, mortgage, and other bank debt due to illegal banking and government activities. This is the Federal Reserve’s worst nightmare, a “jubilee” or a forgiveness of debt.
2. Abolishes the income tax.
3. Abolishes the IRS. Employees of the IRS will be transferred into the US Treasury national sales tax area.
4. Creates a 14% flat rate non-essential new items only sales tax revenue for the government. In other words, food and medicine will not be taxed; nor will used items such as old homes.
5. Increases benefits to senior citizens.
6. Returns Constitutional Law to all courts and legal matters.
7. Reinstates the original Title of Nobility amendment.
8. Establishes new Presidential and Congressional elections within 120 days after NESARA’s announcement. The interim government will cancel all National Emergencies and return us back to constitutional law.
9. Monitors elections and prevents illegal election activities of special interest groups.
10. Creates a new U.S. Treasury rainbow currency backed by gold, silver, and platinum precious metals, ending the bankruptcy of the United States initiated by Franklin Roosevelt in 1933.
11. Forbids the sale of American birth certificate records as chattel property bonds by the US Department of Transportation.
12. Initiates new U.S. Treasury Bank System in alignment with Constitutional Law
13. Eliminates the Federal Reserve System. During the transition period the Federal Reserve will be allowed to operate side by side of the U.S. treasury for one year in order to remove all Federal Reserve notes from the money supply.
14. Restores financial privacy.
15. Retrains all judges and attorneys in Constitutional Law.
16. Ceases all aggressive, U.S. government military actions worldwide.
17. Establishes peace throughout the world.
18. Releases enormous sums of money for humanitarian purposes.
19. Enables the release of over 6,000 patents of suppressed technologies that are being withheld from the public under the guise of national security, including free energy devices, antigravity, and sonic healing machines.
i'm not saying you're wrong, but i am saying i really don't understand why you're saying this. would you please explain. it makes me feel stupid, but i just don't understand.
Originally posted by jimmyx
Originally posted by DarthMuerte
The fairtax will never pass, even though it is exactly what we need. Get rid of all other taxes(at the federal level) and implement this system. No irs, no obama care tax, it can all be gone. It would be the biggest shift of power going toward the people and away from government since the articles of confederation after the American revolution. Our politicians will never allow it to pass.
so...if a person makes 10 million a year, but only spends 1 million a year...he is taxed on 10% of his income
and...if a person makes 50 thousand a year, and spends 45 thousand...he is taxed on 90% of his income