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YES..... FAIR tax

posted 3/7/2008 7:24:35 PM |
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There has already been a couple blogs on this today, but since one of them doesn't seem to know what he's talking about, I'd rather post my own thoughts instead of getting lost somewhere else.

The Fair Tax is, simply put, a new nationwide uniform sales tax on.... everything.

In return, income tax, estate tax, capitol gains tax, corporate income tax....... EVERY form of income & investment tax will be eliminated. GONE.

It has been suggested:

Among other things, such a program would kill off 99 cent stores throughout the United States. They would all have to become $1.22 stores.

NOT correct. The company that made that 99 cent item pays a tax on their corporate profits. Not under the fair tax. The store that sells it makes a profit and pays more tax. The wages of the person who made it are taxed. (assuming it was made in THIS country and not shipped out to China) with the manufacturer paying a part of the social security taxes. Elimating all of those hidden "imbedded" taxes will lower the cost of all the goods you buy so when the new sales tax is added on, the end cost will be pretty much the same.

So.....what is the advantage to that? I'll tell you.

For years business have been moving their corporate offices (translate JOBS) overseas to countries with more favorable tax laws. With no more "profit" taxes, business will no long leave, and hopefully come back to an even better tax situation.

Every tourist that comes to this country will pay the sales tax, of course, and in doing so fund our infrastructure. Illegal aliens too. They work under the radar and don't pay any income tax now....... but the tax will be on every pair of shoes, bag of chips, etc. You can't avoid paying.

I'm not about to type the whole plan here. Hopefully this is enough to tease you to read it, study it, and get behind it. If you know nothing at all about the fair tax, do not dismiss it out of hand as just some other new tax. It is MUCH more than that. Take some time to learn about it. Don't take my word for it. Be informed.

Oh, IF this is SO good........ why aren't the politicians behind it? Simply put, it takes too much power AWAY from them........ and we know they HATE that. The only candidates that were OPENLY supporting this plan were Ron Paul and Mike Huckabee. Hopefully we can get a few more men who are more into serving this country instead of being parasites.

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Mar 7 @ 7:32PM  
Appreciate your feedback on this..I don't know enough about it to address specific issues on it, particularly on the spur of the moment, so this is very helpful. Thanks.

Mar 7 @ 7:44PM  
I'm another that supports this idea. But as the poster stated, it won't happen until there's a major shift in the meatheads in DC.

Mar 7 @ 8:05PM  
Part of the reason Politicians arent behind it is because they have money.........with the fair tax they would eventually end up paying more taxes than the normal citizen cause they buy high price toys..........I liked it when Jesse Ventura while Governor Minnesota talked about it and I like the idea now.......people however on social security got scared thinking they would have to pay more out because they would be paying tax on things they dont normally do and they dont have to pay taxes in due to their you said SloHand the price would be approximately the same as the businesses wouldnt have to pay taxes anymore...........

Great Blog............ If i had a kudo I would give it to I'll just leave you an IOU

Mar 7 @ 8:44PM  
So then are they also talking about a form of a VAT as well? The American Manufacture charges the tax to the store and pays the tax, then the store sells the product and the consumer pays another tax based on the mark-up? All that does is drives up the price of goods. Also Companys won't keep things in inventory, because they are tax on the out-going value of that inventory once a year. Even if the product isn't sold. So again product manufacturing will stay OVERSEA, do they don't have to pay the tax to the Federal Government, and Jobs won't come back to the US. And if there is a Middle Man, or distributor involved then that double the tax before it hits the consumer.


Mar 7 @ 10:01PM  
Also where do all the state and local sales taxes fit in, Here in Alexandria it 9% total and I can't tell you which is Louisiana and what is Alexandria. And just because the Federal government won't charge you Income tax doesn't mean the State will take it off the books. and the local government as well. So a some kind of W-2 will have to be issued at the end of each year and state paperwork filed.

A complete overhaul will never happen because again it's now a power issue. We as the citizens, or our parents and grandparents gave up our power over the government and gave them the power over us a little less than 100 years ago. and they have been just taking more and more because we as citizen think we can't do anything about it.

The only way to get rid of income tax of any description on every level is to Repeal the 16 amendment, because then the state won't be able to charge it either. They can not supersede the federal government.

Mar 8 @ 12:34AM  
I personally love the idea, more money in your paycheck and lower prices on the goods you buy and it will be more fair, simply because the people who make more and spend more will now pay taxes on those expensive items they buy, and no more taxbreaks for the wealthy.

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YES..... FAIR tax