It's worth a read-over. If it's the answer to the hell we go through every April, it could use whatever support it can get.
I don't like this sort of tax, because it hurts the poor much more than the rich. Poor people spend all of their income on "goods and services", while rich people are able to invest most of their income to make even more money. So the percentage of income that poor people are taxed is much higher than the percentage of income rich people are taxed.
Always look out for these schemes, as the vast bulk of them are to help the rich get richer. Is the problem in this country really that the rich need to be richer and the poor people poorer?
Having said that, our tax system sucks. Too many loopholes and complications. You could talk to 10 different accountants and get 10 different answers on what you owe.
Edit: Also, this system proposes no tax before the poverty level, which I guess is facilitated with a rebate card or something. In any case, this will make someone like Bill Gates' taxes plumet, as he spends little of his income on goods and services.
Malo Periculosam Libertatem Quam Quietum Servitium
My photos are copyright-free and public domain
Just grabbed this from the FAQ (was reading it a minute ago... still had the window open):
Is it fair for rich people to get the exact same FairTax rebate from the federal government as the poorest person in America?
Is the FairTax progressive? Do the rich pay more and the poor pay less as a percentage of their spending?
..... anyway, just posting the link in case anyone is interested. Don't mean to be "trumpeting" or anything.
People with modest incomes who have to spend it all will be taxed on much of it. *People with big incomes who can invest a lot of it won't be taxed on what they can invest or what they'll earn from that investment. *Businesses are exempt, so business owners will escape taxes by buying through the business. *Escaping taxes their employees can't. *It'll be the same kind of scam that has lawyers and liquor store owners driving Hummers for free.
One constant goal of right wing tax schemes is to eliminate taxes on unearned income - capital gains, inheritance, interest, dividends, and so on. *Whether it's done by reducing capital gains tax rates, increasing estate tax exemptions, or imposing a national sales tax, the goal is always an attempt to create a class of permanent wealth. *Our nation's founders fought a war over that issue and I'd hate to lose the Revolutionary War 220 years later.
Bruce in CT
Madness is something rare in individuals — but in groups, parties, peoples, ages it is the rule. Friedrich Nietzsche
Personally, I would adopt the "Robin Hood" approach to taxation. "Trickle down effect" doesn't trckle well! [img]http://www.**********.com/iB_html/non-cgi/emoticons/new/mad.gif[/img] Have you ever seen me use this emoticon before?
April 15th every year?
i covered lots of miles and saw few critters this hunting season so naturally my mind was doing quite a bit of wondering. interestingly one topic my thought process decided to settle on was taxes, why i dont know but i dont mettle in its buiseness and it doesnt go to hard on me when i do something really stupid [img]http://www.**********.com/iB_html/non-cgi/emoticons/new/smile_n_32.gif[/img] anyways i came to the point where i REALLY dont think increasing taxes on the rich is a good solution. think about it for a minute. lets say we raise the taxes on the rich or those who make alot of money such as sugeons. what happens? the big grocery stores raise the cost of each item 5 cents, you have to have surgery for something, he raises his prices $40 an hour for his skill at putting you back together. your car now costs a couple thousand more than last year. a filling on a tooth costs an extra $20 but guess what? your sallery doesnt change, or is actually lower cause the company you work for makes cuts so they can keep the same profit margins and continue to grow because they have to pay more in taxes. our tax system is screwed up. our whole system is screwed up. i fall in a very interesting range, to poor to get what i need to rich to get help. take for example that i have bad knees do to some screwy gene in my DNA. i recently found out that Celebrex does wonders for me. i hiked over 20 miles a couple weekends ago. last hunting season had i done half that i would have been in pain and had to sit on the couch for a week to get them happy again. do you know how much Celebrex costs? $80 a month, thats $960 a year, i TAKE HOME just over $12,000 a year, gross about $16,500. guess where the limit for help is for recieving free drugs is? $16,000 gross per year. get insurance you say, they will pay for MOST of the cost of a perscription. well insurance runs in the $300 a month range OR MORE, thats $3,600 a year or over 1/4 of my take home income. thats before i pay for my vehicle to get to work, its insurance and gas, food for the table, heat and electricity for the house, rent, ect ect ect. so i either bust my rear 7 days a week to pay for health insurance for IF i get sick, and all other necessities or i say screw the insurance, pay for heat, electricity, food and rent and enjoy my life, grow plants, mess with firearms, have weekends off to spend canoeing around the lake and river and exploring badlands and gravel bars looking for sapphires agate and such, having a quality life while im here.
our tax system needs fixed but more than anything the WHOLE WORKS needs to be fixed. my tax dollars are going to people like the local indian tribe to support the VAST MAJORITY OF THEM who dont want to work and refuse to get a job and spend their life on wellfare. but i who work a 45 hour week cant get a lil bit of help to pay for $80 worth of drugs a month. that is a bunch of BS. i have actually heard a 12 year old say "I cant wait till im old enough to have a baby so i can get a big check every month like my mom"