Comments on: National Sales Tax?

By: Doug

Doug — Tue, 05 Apr 2005 16:10:04 +0000

1. Tax is really 30% calculated as other sales taxes. It is 23% of total including tax. An item selling for $100 will have a $30 tax!

2. All of your after-tax assets value will be reduced because they will be double-taxed. This includes your Roth IRA!

3. You will get to pay Social Security taxes until you die instead of untill you retire.

By: Kimball

Kimball — Sat, 02 Apr 2005 16:00:55 +0000

From a post by: Mikey at April 1, 2005 12:09: "...businesses buy things retail also. If you think they wonât end up paying a tax, you are dreaming. If you donât think theyâd just calculate their likely amount and pass it on to their customers, you are really dreaming."

Under the current system AND under the FairTax, businesses must recover their costs. Nothing wrong with that. Businesses that stay in business, however, seek to control their costs in order that they may offer their products at competitive prices.

The FairTax eliminates the cost of corporate income taxes, including most of the huge dollar amounts businesses waste simply to comply with the current tax code by hiring tax lawyers, tax accountants, and staff specialists on payroll / Social Security taxation, etc. Much less cost remains to pass on to those who really pay these costs--the consumers.

The FairTax gives the choice to businesses, also, to control their taxes by controlling what they buy at retail that is subject to the new sales tax. Business-to-business transactions will not be subject to the sales tax, so the true payer of costs in a competitive economy (again, the consumer) benefits by not funding the costs of compliance with the current tax system.

By: phil wilburn

phil wilburn — Fri, 01 Apr 2005 21:34:22 +0000

When I stop and think about how much revenue we would be getting from sales tax,paid by illegals,thieves,drug dealers and pimps,I jumped right on board the fair tax bandwagon.Also think about all those foreign visitors even more money. Absolutely no one who buys retail would escape.
I know your next uneducated argument is no one will buy retail and the economy fails. Please go to fairtax.org and get educated.

By: Jim

Jim — Fri, 01 Apr 2005 19:51:43 +0000

From the FAQs of the FairTax.org site:

"Under the FairTax plan, money retained in the business and reinvested to create jobs, build factories, or develop new technologies, pays no tax. This is the most honest, fair, productive tax system possible. Free market competition will do the rest."

http://www.fairtaxvolunteer.org/smart/faq-main.html#23

By: Mikey

Mikey — Fri, 01 Apr 2005 17:09:06 +0000

Douglas, businesses buy things retail also. If you think they won't end up paying a tax, you are dreaming. If you don't think they'd just calculate their likely amount and pass it on to their customers, you are really dreaming.

By: James Harper

James Harper — Fri, 01 Apr 2005 15:36:03 +0000

I would like to ask those opposed to the Fair Tax why they would prefer to have politicians and lobbyist dictate how much of their money that they can keep? Why would you want to hold yourself subject to the will of another? The absolute beauty of the Fair Tax is that it puts the power of taxation where it belongs, in the hands of the people. You and you alone control how much tax you are willing to pay and the only power left for politicians is the rate of one simple tax. No more hidden taxes. No more class warfare. Under the Fair Tax everyone is equal and April 15th is just another day on the calendar. Bottom line is that the Fair Tax is the simplest, most efficient and most economic friendly tax system available. One last thing incase you haven't noticed, currently every American is paying the tax burden for all businesses in the way of higher prices for products and services because businesses must be able to pass their cost on to the consumer in order to remain in business and this amounts to double and triple taxation on each American. The Fair Tax will eliminate these hidden taxes and ensure that we are all taxed once and at the same rate and what could be fairer?

By: Dee KayT

Dee KayT — Fri, 01 Apr 2005 11:07:00 +0000

My son is 24 years old and still a student in college (post graduate). He works a part time job and made only a little over $6700 last year. (I pay his tuition and books â¦ he pays his lunches, etc.) I still do not get to claim him as he is over the age to use as a deduction. I did the math. Last year, he ended up with a refund of all of he withholding, but paid almost $400 into Social Security and Medicare. He didnât get that back. Under the Fairtax plan, his monthly rebate would have been at $172 per month. I figured if he spent the entire $6700 and paid 23% tax he would have come out ahead for the year by over $1100. That is $1100 more than he had under the present tax system. How is that unfair to the poor? Doing the same calculation for someone with $40,000 per year that person comes out at $200 ahead. The government also gets more because there are no refunds at the end of the tax year. The monthly rebate is a known figure that the government can budget in. The government would also get the tax on the over 50 million foreign visitors per year plus the illegal aliens, drug dealers, thieves, etc. Nobody would be exempt. Especially the rich. Study the program then make your comments. http://www.fairtax.org

By: The Q Speaks

The Q Speaks — Fri, 01 Apr 2005 05:10:17 +0000

Reality Check
George Will, John Linder, and reality.

By: Randall Ierna

Randall Ierna — Fri, 01 Apr 2005 03:52:03 +0000

I am a taxpayer. As an independant contractor in Real Estate for over 30 years, I have paid over 6 figures into the income taxes and another 6 figure number into social security. I cannot comprehend the 55,000 page tax code. I have had to pay a CPA for years to do my taxes.
With that said as background, I fully support HR 25 and S25 The Fair Tax. It is very simple to comprehend. You buy you pay. The more you buy (only NEW goods and Services) the more you pay.
The poor will get a rebate check every month. The tax has been calculated at 23%. I personally will save about 30%. Because I will not have to pay Income, FICA and FUTA taxes out of my earnings.
Folks, I have STUDIED this plan.
I went to http://www.fairtax.org and read it. I went to the House website and read HR 25 and went to the senate website and read S 25. It is the way to go.
Now I realize powerful forces are already at work to try to kill this tax plan. The IRS is definitely against it. It puts most of them out of work. The Tax Attorneys and Tax Accountants are harumphing that it will never work and give eloquent and convoluted reasoning why (See some of the posts here). A lot of politicians are against it because it limits their control and social engineering through the use of tax shelters All I ask is that those of you that are at least interested in looking at something else, go to one of the websites and get educated. If there is anything you can see wrong with the "FAIR TAX" plan then by all means support the truly incomprehensible system we have now.
All you Bureucrats, Politicians, Attorneys and Accountants that will lose your jobs because of this can continue to battle a losing cause. You can say what you want. The American public is sick and tired. much like they were when they revolted against the King Of England for his "Tea" tax and took the country.
Don't be ignorant. Check out http://www.fairtax.org

By: Douglas

Douglas — Fri, 01 Apr 2005 03:49:54 +0000

"The corporations will pass the sales tax onto the consumers also â If anyone thinks differently theyâre dreaming. Itâs just another cost of doing business, like wages, commodity costs, rent, etc."

There are no taxes to "pass on" under the fair tax plan. The tax is paid only on retail sales of new goods. Like Mr. Kropewnicki said, educate yourself at fairtax.org before making statements about a topic you know nothing about.

By: etb

etb — Fri, 01 Apr 2005 02:15:00 +0000

To be sure, any significant change in our tax code is probably a pipe dream. Too many toes to be trampled. Do many deserve to be stomped...yes indeed, but that's not the point. Most have advocates and their howls will be heard. Let's not fool ourselves. Does anyone really believe that countless tax lawyers, CPA'S

By: Jerry Kreiner

Jerry Kreiner — Fri, 01 Apr 2005 01:42:41 +0000

Tom is absolutely correct. Log on to Fairtax.org and get yourself educated prior to bashing a plan you clearly know very little about.

By: Tom Kropewnicki

Tom Kropewnicki — Fri, 01 Apr 2005 01:25:18 +0000

Here we go again. Uninformed people making rash judgements about something they know nothing about. Everyone has a right to their opinion, and I don't mean to imply otherwise. Please everybody, log onto FAIRTAX.ORG. Get informed. If you still disagree fine. But this country will not remain economically competitive much longer if we don't move to the FAIRTAX.

By: Maggie

Maggie — Thu, 31 Mar 2005 23:55:24 +0000

TAX, TAX, TAX, TAX, TAX, TAX, TAX.

Ye gods, don't they know any other word in Washington.

Let's fix all the problems at once...Medicare and Social Security....

National Lottery....ten dollars for a ticket...lottery once a month....

and the winner gets......

Drumroll please:

NO MORE FEDERAL TAXES!!

Yup.... the federal government keeps all the lottery money.....and the winner gets a free federal ride for the rest of their lives!!

BABY, SIGN ME UP....that's $10 a month well spent.

By: Mikey

Mikey — Thu, 31 Mar 2005 21:52:05 +0000

The corporations will pass the sales tax onto the consumers also - If anyone thinks differently they're dreaming. It's just another cost of doing business, like wages, commodity costs, rent, etc.