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InvisibleSnypa187
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Anyone know about the "fait tax"?
    #6919351 - 05/15/07 10:58 AM (16 years, 10 months ago)

What is the FairTax plan?

The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including a progressive national retail sales tax, a prebate to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue neutrality, and, through companion legislation, the repeal of the 16th Amendment.


The FairTax Act (HR 25, S 1025) is nonpartisan legislation. It abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing state sales tax authorities.

The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.

The FairTax:

* Abolishes the IRS
* Closes all loopholes and brings fairness to taxation
* Ensures Social Security and Medicare funding
* Brings transparency and accountability to tax policy
* Allows American products to compete fairly
* Reimburses the tax on purchases of basic necessities
* Enables retirees to keep their entire pension
* Enables workers to keep their entire paycheck

taken from
fairtax.org

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InvisibleSnypa187
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Registered: 04/22/07
Posts: 1,059
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Re: Anyone know about the "fait tax"? [Re: Snypa187]
    #6919370 - 05/15/07 11:04 AM (16 years, 10 months ago)

No? Well fuck you hippies!:crazybeard:

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InvisibleMistaUNGA
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Re: Anyone know about the "fait tax"? [Re: Snypa187]
    #6919374 - 05/15/07 11:07 AM (16 years, 10 months ago)

Interesting, who supports this bill? Any Presidential candidates?

Sounds like something Ron Paul would be behind, I dunno, I haven't read.


--------------------
:gc:
Madtowntripper said:Or just give her a cloroform soaked rag and tell her it's ether!

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Offlineunbeliever
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Re: Anyone know about the "fait tax"? [Re: Snypa187]
    #6919379 - 05/15/07 11:09 AM (16 years, 10 months ago)

Sounds good to me. But the only way we could continue to fund important social programs (education, healthcare, etc) would be to reign in the neocon war spending. The rest would take care of itself.


--------------------
Happiness is a warm gun...

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Offlinehaysoos
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Re: Anyone know about the "fait tax"? [Re: Snypa187]
    #6919382 - 05/15/07 11:11 AM (16 years, 10 months ago)

Yeah, the problem with replacing the whole tax system with the sales tax only is that people with a shit ton of money can horde their wealth and make tons off the interest tax free. A guy could make 10 billion dollars in a year and pay the same tax as a poor family. Warren Buffet is the second richest guy in the world and he doesn't spend hardly any of it. He drives a used Oldmobile and he lives in the same little house he got before he had money.

Also, it's going to promote the rich to buy their expensive items overseas.

It's going to hurt the economy as it gives a direct incentive for people not to spend their money onamerican products.

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Invisiblepinkfloydms
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Re: Anyone know about the "fait tax"? [Re: MistaUNGA]
    #6919394 - 05/15/07 11:15 AM (16 years, 10 months ago)

How would that eliminate the IRS? There would still have to be IRS to collect the money that business' collect and audit them, and not to mention the extra shit a business like the one my parents own would have to do to deal with this shit. I say NO!


--------------------
Muppet Said:

so yeah:
- 'sex' five times
- once with a man
- once with a cadaver
- and thrice with actual women(all of which were prostitutes)
Best story ever!

www.panicstream.com :thumbup:

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Offlinerobbyberto
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Re: Anyone know about the "fait tax"? [Re: pinkfloydms]
    #6919401 - 05/15/07 11:18 AM (16 years, 10 months ago)

How would this work out for the poor? It is a regressive tax so someone who makes more money would be effected less because the sales tax would be a smaller percentage of their income.


--------------------
“People say having kids is life changing, well that doesn’t necessarily mean a good thing, does it? I could take one of my legs off. That would change my life.” -Karl Pilkington


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InvisibleCowgold
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Nice idea, smokes like a dream. [Re: Snypa187]
    #6919410 - 05/15/07 11:20 AM (16 years, 10 months ago)

What about gifts? How are they taxed in this 'fair tax'?

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InvisibleSnypa187
Bitch, I live ina fuckin' trashcan!!!
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Re: Anyone know about the "fait tax"? [Re: pinkfloydms]
    #6919411 - 05/15/07 11:20 AM (16 years, 10 months ago)

Quote:

pinkfloydms said:
How would that eliminate the IRS? There would still have to be IRS to collect the money that business' collect and audit them, and not to mention the extra shit a business like the one my parents own would have to do to deal with this shit. I say NO!




The only time you pay taxes is up front at the point of sale.

This was written by a talk show host based in Atlanta. I love listening to him. His name is Neil Boortz. A while back he passed the bar, saw how fucked up law is, and turned into a radio talk show host.the man

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Offlineunbeliever
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Re: Anyone know about the "fait tax"? [Re: haysoos]
    #6919416 - 05/15/07 11:20 AM (16 years, 10 months ago)

Quote:

haysoos said:
Yeah, the problem with replacing the whole tax system with the sales tax only is that people with a shit ton of money can horde their wealth and make tons off the interest tax free. A guy could make 10 billion dollars in a year and pay the same tax as a poor family. Warren Buffet is the second richest guy in the world and he doesn't spend hardly any of it. He drives a used Oldmobile and he lives in the same little house he got before he had money.

Also, it's going to promote the rich to buy their expensive items overseas.

It's going to hurt the economy as it gives a direct incentive for people not to spend their money onamerican products.




So keep some income tax. Just make it on anything over $250-500k/yr (or whatever would work best). Or have income tax only apply to investments, not actual work. Also you could re-use some of the IRS workforce, have them track incoming consumer goods bought overseas and tax them as soon as they come into the country. :shrug:


--------------------
Happiness is a warm gun...

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Invisiblepinkfloydms
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Re: Anyone know about the "fait tax"? [Re: robbyberto]
    #6919417 - 05/15/07 11:20 AM (16 years, 10 months ago)

Can you think of the black market that would pop up on normal everyday things so ppl wouldn't have to pay taxes.


--------------------
Muppet Said:

so yeah:
- 'sex' five times
- once with a man
- once with a cadaver
- and thrice with actual women(all of which were prostitutes)
Best story ever!

www.panicstream.com :thumbup:

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Offlineunbeliever
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Re: Anyone know about the "fait tax"? [Re: robbyberto]
    #6919426 - 05/15/07 11:23 AM (16 years, 10 months ago)

Quote:

robbyberto said:
How would this work out for the poor? It is a regressive tax so someone who makes more money would be effected less because the sales tax would be a smaller percentage of their income.




I think it gives more control to the poor. They can make better decisions with their money. Instead of losing out on a % of it right off the bat, they can choose to save it (or not). So if they need more food that week, don't buy the big tv or new car or stereo or whatever. With no tax on food/groceries, this would be a fair system.


--------------------
Happiness is a warm gun...

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Offlinehaysoos
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Re: Anyone know about the "fait tax"? [Re: haysoos]
    #6919428 - 05/15/07 11:23 AM (16 years, 10 months ago)

President Bush supports the 'fair tax' bill.

All rich people would support this bill.

They named it Fair Tax to fool most americans into supporting in much the same way they named the bill that took away personal liberties the Patriot Act.

They did the same thing with the Death Tax. The death tax, which used to be called Estate Tax, hurts rich people who want die and pass their wealth to their kids.

The republicans are masters at this.

Drilling for oil in our nations federal parks? -> Responcible exploration exploration of energy.

It's propaganda.

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Offlineunbeliever
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Re: Anyone know about the "fait tax"? [Re: pinkfloydms]
    #6919431 - 05/15/07 11:24 AM (16 years, 10 months ago)

Quote:

pinkfloydms said:
Can you think of the black market that would pop up on normal everyday things so ppl wouldn't have to pay taxes.




The FairTax taxes us only on what we choose to spend on new goods or services

So there'd be more garage sales, big deal.


--------------------
Happiness is a warm gun...

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Offlineunbeliever
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Re: Anyone know about the "fait tax"? [Re: haysoos]
    #6919437 - 05/15/07 11:26 AM (16 years, 10 months ago)

Quote:

haysoos said:
President Bush supports the 'fair tax' bill.

All rich people would support this bill.

They named it Fair Tax to fool most americans into supporting in much the same way they named the bill that took away personal liberties the Patriot Act.

They did the same thing with the Death Tax. The death tax, which used to be called Estate Tax, hurts rich people who want die and pass their wealth to their kids.

The republicans are masters at this.

Drilling for oil in our nations federal parks? -> Responcible exploration exploration of energy.

It's propaganda.




Are you saying the current tax system is the true fair tax then? Because that's bullshit. Tax people on what they consume (non-food), not on their earnings. While you're at it, uncouple healthcare from employment as well.


--------------------
Happiness is a warm gun...

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Offlinehaysoos
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Re: Anyone know about the "fait tax"? [Re: haysoos]
    #6919442 - 05/15/07 11:28 AM (16 years, 10 months ago)

I need to proof read before i click submit. LOL

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Offlinehaysoos
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Re: Anyone know about the "fait tax"? [Re: unbeliever]
    #6919454 - 05/15/07 11:30 AM (16 years, 10 months ago)

If you think it's fair for a guy that makes billions in a year to pay the same taxes as a struggling family, then by all means, support this Tax.

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Invisiblepinkfloydms
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Re: Anyone know about the "fait tax"? [Re: Snypa187]
    #6919456 - 05/15/07 11:30 AM (16 years, 10 months ago)

Quote:

Snypa187 said:
Quote:

pinkfloydms said:
How would that eliminate the IRS? There would still have to be IRS to collect the money that business' collect and audit them, and not to mention the extra shit a business like the one my parents own would have to do to deal with this shit. I say NO!




The only time you pay taxes is up front at the point of sale.

This was written by a talk show host based in Atlanta. I love listening to him. His name is Neil Boortz. A while back he passed the bar, saw how fucked up law is, and turned into a radio talk show host.the man




I under stand that you only have to pay taxes at a point of sale, but the business then has to send in those taxes it collects from the ppl buying stuff, which would meant there would still have to be an IRS to make sure business' are really paying in the amount they collect from ppl.


--------------------
Muppet Said:

so yeah:
- 'sex' five times
- once with a man
- once with a cadaver
- and thrice with actual women(all of which were prostitutes)
Best story ever!

www.panicstream.com :thumbup:

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Offlinehaysoos
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Re: Anyone know about the "fait tax"? [Re: haysoos]
    #6919464 - 05/15/07 11:33 AM (16 years, 10 months ago)

And I think that our current tax system is too complicated and should be revamped, but, this is not a good solution.

It will hurt the economy.
It will promote the further decline of the middle class.
It will discourage other countries from buying american products.

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InvisibleCowgold
Bullshit

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Suck me up. [Re: Snypa187]
    #6919497 - 05/15/07 11:42 AM (16 years, 10 months ago)

Taxes shouldn't be changed all the time. Businesses structure many of their decisions around how they will be taxed. They're encouraged to with tax abatements and incentives. Taxes are a way for our elected officials to guide our businesses to accomodate the citizens. It is very beneficial to a community and is rarely appreciated.

This is a stupid tax that would require the restructuring of all trade, all business. The only benefit anyone would see, is not having to file a return. The way that everyone lives, works and functions in this country will surely change. Adjust to the way it is now.

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