darien87

darien87

Audioholic Spartan
Hey all,

With the sorry state of the economy, I thought that this deserved it's own thread. I think the current tax system is outdated and needs to be changed. I freely admit that I am no economics expert, but the policies proposed on www.fairtax.org are pretty promising.

One thing is for sure, this country CANNOT prosper without sweeping economic changes.

Check the site out and let me know what you folks think.
 
E

EJ1

Audioholic Chief
I remember hearing about the Fair Tax from Neal Boortz. Pretty nifty idea.
 
yettitheman

yettitheman

Audioholic General
I haven't read on it yet... but I'm sure the wealthy may.... not like it....

There will be something that keeps it from coming into place.
 
What's cool about this is its economic, not political at all. It's got supporters and detractors on both sides of the aisle.

The Fairtax rules. Everyone gets a monthly prebate check and you get ALL of the money from your salary (no witholdings). It's a no-brainer, but the cowards who run this country can't fathom a system that actually works and kills the biggest reason for lobbyists to exist (tax breaks).

Poor people make out like bandits... Rich people can't avoid taxes for yachts, boats, etc... Drug dealers (cash businesses) pay taxes for the first time ever cause they can't avoid them when they buy their Ford Escalades. 20 million illegal aliens paid under the table pay taxes.

And no one pays taxes on anything that's not brand new, so that used car doesn't cost you a dime extra. No taxes on services.

Add to that the fact that without corporate taxes (which are embedded into the very things we purchase) everything will drop down to very nearly even out the price added by the taxes.

The only arguments I've heard fall into two categories:

1 - "It'll never happen" (yeah, not with optimists like YOU calling the shots)
2 - Bad info that twists what the Fairtax does. People who simply haven't read the plan and don't understand it.

Everyone fixates on the 23% tax rate, but they forget that they KEEP all their earnings (no witholdings) and they get a monthly prebate check that is equivalent to those at the poverty level not paying a dime in taxes. The system is easy to implement cause most states already have a state sales tax. It's the same system.

Everyone should read the Fairtax plan... and then call their representatives immediately and tell them to get on board.

My $0.02
 
mtrycrafts

mtrycrafts

Seriously, I have no life.
... Rich people can't avoid taxes for yachts, boats, etc... Drug dealers (cash businesses) pay taxes for the first time ever cause they can't avoid them when they buy their Ford Escalades. 20 million illegal aliens paid under the table pay taxes.

And no one pays taxes on anything that's not brand new, so that used car doesn't cost you a dime extra. No taxes on services.
My $0.02
Does this mean that you pay tax only on new products?
If so, why would anyone buy anything new? Why wouldn't the price of used items just go since demand for used products jump since it is tax free?
Why would that drug dealer by new instead of a used one? Unless rich don't care about that tax:D
Or, is that 23% just not enough of a burden?
Canada has a VAT of about 15% on top of the sales tax, yet they still have income tax? Am I mistaken?
 

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