Fair Tax questions

[SoonerStatePawn]

If we are licky, IF, we may get back to something like what Ronald Reagan was able to work - a simplified version of the current income tax system - with only perhaps 3 brackets - low of 5%, middle of 10%, and high of 15%. That is still technically a "progressive" tax system but it isn't a bad compromise from a Conservative point-of-view.

I personally believe that the income tax should be repealed because it provides a theoretically unlimited source of income for day-to-day activities to the Federal government - i.e. we should stop the beast by cutting off its food supply. However, I consider the chances of that happening to be nearly zero so I am willing to find a reasonable compromise. The "flat-ish tax" I mentioned above - or something like it - might be that compromise.

Where is the "Like" button?

 

[Lurker66]

This is why a "fair tax" aint fair; the entire burden is placed on the backs of the middle income brackets.
The largest class of tax payers are the middle class. They also purchase the most "stuff".

The second largest group of purchasers of "stuff", is the bottom tax brackets, the poor. The poor are mainly purchasers of used goods.

The truely wealthy, those so called 1%ers, they are the smallest tax bracket. They actually consume the least.
The "stuff" they own is usually not owned by them but a company or trust they own(land, lake homes, equipment, cars, boats, jewelry, guns, ect.).

So no, a fair tax is not fair.

 

[jsl_pt]

I like the fair tax better than what we have, but a simple across the board flat tax percenatge would be even more "fair"

 

[SoonerStatePawn]

This is why a "fair tax" aint fair; the entire burden is placed on the backs of the middle income brackets.
The largest class of tax payers are the middle class. They also purchase the most "stuff".

The second largest group of purchasers of "stuff", is the bottom tax brackets, the poor. The poor are mainly purchasers of used goods.

The truely wealthy, those so called 1%ers, they are the smallest tax bracket. They actually consume the least.
The "stuff" they own is usually not owned by them but a company or trust they own(land, lake homes, equipment, cars, boats, jewelry, guns, ect.).

So no, a fair tax is not fair.

You're right. The rich are the ones buying expensive jewelry, cars, boats, guns, etc... All of which they will be paying a 27% sales tax on. The do spend MORE money on stuff they don't need, and they are still paying the same tax on it. Whether or not it is purchased by a company or individual they are paying the sales tax. There are no loopholes under the fair tax.

That said, I still think in reality the Fair Tax will never get passed. I do support a simple flat tax.

 

[Lurker66]

You're right. The rich are the ones buying expensive jewelry, cars, boats, guns, etc... All of which they will be paying a 27% sales tax on. The do spend MORE money on stuff they don't need, and they are still paying the same tax on it. Whether or not it is purchased by a company or individual they are paying the sales tax. There are no loopholes under the fair tax.

That said, I still think in reality the Fair Tax will never get passed. I do support a simple flat tax.

im really not up on a fair or flat tax. I kinda lean toward a flat tax sometimes. Other times i think we should do away with every tax except sales on new goods and income.

But we need to define income as any money you have. If you earn it and invest in government bonds, thats ok. If ya stick it in savings, you pay tax on the intrest. Tax anything else.

Money cant make money without a hefty tax.

 

[justanotherpatriot]

To the degree that someone else can lay claim to a portion of my industry, as their right, to that degree i am the less a free and sovereign citizen