H2O MAN
 
Reply Wed 9 Jan, 2013 09:13 am


Obama and his administration must be educated on The FairTax Plan ~ MAKE IT HAPPEN
 
H2O MAN
 
  -3  
Reply Thu 10 Jan, 2013 08:10 am


My FairTax Petition To The White House

If we get 25,000 signatures the White House says they will respond. I frankly thought we would be there by today. Instead, we’re creeping toward 10,000. Again .. I’m disappointed; but disappointment is always part of the game I guess.
The petition is getting the attention of some leftist websites though. The proggies are referring to this effort as my “bogus” petition to the White House. Good. Glad they’re taking notice. The FairTax would be the most massive transfer of power from the federal government to the people since our Constitution was adopted. Proggies don’t like that, and they will fight like hell to short-circuit any attempt to get The FairTax any more traction.
By the way … I have been talking with the principals of FairTax.org and have told them that I stand ready to help promote the FairTax in any way that I can. I may end up doing some traveling around the country to make speeches to interested groups. We’ll have to see.
spitfire88
 
  2  
Reply Fri 11 Jan, 2013 04:06 am
@H2O MAN,
I don't think the "FairTax" plan is a best option to reform the tax system.

Firstly, no country has ever completely abolished the income tax and implemented solely a consumer tax system. There is no evidence that this plan has or will work as you presume.

Secondly, the FairTax plan would involve issuing monthly prebates to lower income families to assist in paying for expenses. Who is paying for these prebates? Where is that money coming from? It would come from the tax collected from everybody that pays for a good/service, yet the prebates paid for by everybody will only be issued to some. That sounds pretty close to "spreading the wealth."

Proponents of the FairTax plan claim that it will eliminate the IRS and save tax payer dollars from funding that government agency. I agree. However, the IRS will be replaced by a Prebate agency, effectively transferring money allocated for the IRS to this new agency and not saving the taxpayer any money.

Conversely, the Flat Tax system has already been adopted by over 40 countries and has yeilded great results. These countries have experienced increased revenues, increased nominal GDP, and their economies have been stimulated. The Flat Tax also rids the system of loopholes, eliminates excessive deductions, exemptions, and double taxation, and ensures all income, including capital gains, is taxed.

I appreciate your enthusiasm and recognition of our flawed tax system, but there are better solutions then the one you have proposed.
H2O MAN
 
  -1  
Reply Fri 11 Jan, 2013 08:02 am
@spitfire88,

Spitfire88,

show me one other plan that has the research and study backing it as The FairTax Plan does.

I appreciate your comments, but you are wrong because there is no better plan out there.
spitfire88
 
  2  
Reply Fri 11 Jan, 2013 09:58 am
@H2O MAN,
Maybe you did not read my post. The FairTax plan has no evidence whatsoever utilizing a consumer tax only without an income tax being successful; it's never been used. However, there is evidence supporting the effectiveness of a Flat Tax system thats already used in over 40 other countries. Do some research.
H2O MAN
 
  -1  
Reply Fri 11 Jan, 2013 10:05 am
@spitfire88,


There is zero evidence that the so-called 'flat-tax' will work here.

The FairTax Plan is the solution.
spitfire88
 
  1  
Reply Fri 11 Jan, 2013 10:40 am
@H2O MAN,
http://www.tax-news.com/news/Flat_Tax_A_Success_In_Iceland_____28121.html
http://www.europeaninstitute.org/20050902183/Fall-2005/will-europes-flat-tax-revolution-spread-from-east-to-west.html
http://www.businessweek.com/stories/2005-09-25/europe-circles-the-flat-tax
0 Replies
 
H2O MAN
 
  -2  
Reply Fri 11 Jan, 2013 10:45 am

Summary Of Recent Research On The FairTax Plan
The BEACON HILL INSTITUTE


Important to note ... the FairTax is the only tax plan currently being proposed that includes the removal of the payroll tax.
H2O MAN
 
  -2  
Reply Fri 11 Jan, 2013 10:54 am


The FairTax Plan is the only one that eliminates the IRS...

No more complicated tax forms, individual audits, or intrusive federal bureaucracy. Retailers will collect the FairTax just as they do now with state sales taxes. All money will be collected and remitted to the U.S. Treasury, and both the retailers and states will be paid a fee for their collection service.
H2O MAN
 
  -2  
Reply Fri 11 Jan, 2013 10:55 am
Keep Your Entire Paycheck

For the first time in recent history, American workers will get to keep every dime they earn.
By eliminating federal income taxes and payroll taxes, your salary or hourly wage is exactly what you'll deposit in the bank.
0 Replies
 
H2O MAN
 
  -2  
Reply Fri 11 Jan, 2013 10:56 am


Get A Tax Refund In Advance On Purchases Of Basic Necessities

The FairTax provides a progressive program called a prebate. This gives every legal resident household an “advance refund” at the beginning of
each month so that purchases made up to the poverty level are tax-free. The prebate prevents an unfair burden on low-income families.
0 Replies
 
spitfire88
 
  3  
Reply Fri 11 Jan, 2013 10:56 am
@H2O MAN,
http://www.factcheck.org/taxes/unspinning_the_fairtax.html

Kid, you're nuts.
H2O MAN
 
  -3  
Reply Fri 11 Jan, 2013 10:59 am
@spitfire88,


Little boy, you are either ignorant or stupid... maybe both.

Cling to your euro-style flat tax and drift away.
H2O MAN
 
  -2  
Reply Fri 11 Jan, 2013 11:13 am


FairTax FAQs
spitfire88
 
  3  
Reply Fri 11 Jan, 2013 11:14 am
@H2O MAN,
Maybe when you get to high school you'll take an economics course and realize how ridiculous you are.
H2O MAN
 
  -2  
Reply Fri 11 Jan, 2013 11:31 am
@spitfire88,

Maybe when your drop you will see just how asinine your comments are.

Your sitter can explain thing to you until that happens
0 Replies
 
spitfire88
 
  3  
Reply Fri 11 Jan, 2013 11:33 am
@H2O MAN,
It appears you do not understand words so I'll try numbers for you.
If a married household earns $50,000 they currently pay approximately $6,600 in federal income taxes, which equates to 13% of their gross income. If that family now keeps that additional 13% income and the consumer tax rate is any higher than 13%, which it would be, that family loses money. If you receive an extra 10% of cash but everything now costs 20% more, you lose. But a 20% consumer tax benefits the wealthy. A family that makes $300,000 pays about 27% of their gross income in federal income taxes. Giving them the additional 27% and using a 20% consumer tax puts 7% more money in their pockets. The wealthy win while everyone else suffers more. I'm not sure it could be broken down any simpler than that.
0 Replies
 
H2O MAN
 
  -2  
Reply Fri 11 Jan, 2013 11:33 am


This would never happen with the FairTax plan

Millions noticing paychecks lighter today, due to payroll tax hike
parados
 
  4  
Reply Fri 11 Jan, 2013 11:44 am
@H2O MAN,
H2O MAN wrote:



The FairTax Plan is the only one that eliminates the IRS...

No more complicated tax forms, individual audits, or intrusive federal bureaucracy. Retailers will collect the FairTax just as they do now with state sales taxes. All money will be collected and remitted to the U.S. Treasury, and both the retailers and states will be paid a fee for their collection service.

As long as we have taxes we will have the IRS because someone has to insure that taxes are collected and no one is cheating.

Let's say we eliminate the IRS. We agree to pay a retailer 3% of the tax collected or they can cheat and keep anywhere from 4% to 100% of it with no IRS to worry about auditing them. How much money do you think will be lost because we don't have the IRS? Even states that only have sales taxes have a revenue division to ensure compliance.

0 Replies
 
parados
 
  3  
Reply Fri 11 Jan, 2013 11:47 am
@H2O MAN,
H2O MAN wrote:



This would never happen with the FairTax plan

Millions noticing paychecks lighter today, due to payroll tax hike



Congress is free to change any tax law. The FairTax doesn't guarantee anything since the rate can change even under FairTax..
0 Replies
 
 

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