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TAX REFORM
- Thread starter grandma
- Start date
Wimpy
Member
imported post
It appears to me that those who spend the most on consumer items would be hit the hardest under the proposal.
Under our current system of taxation the information on the 1040 and related forms is as muchor more valuable than the revenue itself. I don't think the powers that be will be too eager to give in to this proposal.
It appears to me that those who spend the most on consumer items would be hit the hardest under the proposal.
Under our current system of taxation the information on the 1040 and related forms is as muchor more valuable than the revenue itself. I don't think the powers that be will be too eager to give in to this proposal.
imported post
I think the thing that people need to realize here is that a national sales tax just plain makes good sense on several different levels. For example, right now I have nearly $1000.00 a month withheld from my checkby the IRS for taxes. I would now have access to this money at a cost to me in taxesof about $85.00. That's a pretty substanial gain in revenue for my household. My yearly tax cost would drop to less than half of the current taxesI pay every year.
Businesses would be taxed onmaterial operating expenses as opposed to thecurrent system that weighs profits against costs. There would beless cost business which means small businesses get to keep a larger portion of their profits allowing for moreunrestricted growth. Big business profits in the same manner which meansbetter growthand more jobs.
There is no break for the wealthy like there is under our current system. Everyone, except those below the national poverty level, pays at the same rate. I can't see how anyone would think this gives an unfair advantage to any one groupof consumers. Remember, this is a consumer based tax. I would much rather pay $8.50 per$1000.00 on a national consumer tax than pay17 to 28% of my grossto the IRS and thenhave to justify my tax relief to the IRS.
Last but not least this reform would all but eliminate the largest department in the federal government,the IRS. Social Security would befunded properly. And here's the real kicker is that this tax porposal would unleash the real power of our economy which means more jobs. I don't have a degree in economics but I can appreciate thefar reaching impact the national sales tax would have on me especially since I am retiring.
I think the thing that people need to realize here is that a national sales tax just plain makes good sense on several different levels. For example, right now I have nearly $1000.00 a month withheld from my checkby the IRS for taxes. I would now have access to this money at a cost to me in taxesof about $85.00. That's a pretty substanial gain in revenue for my household. My yearly tax cost would drop to less than half of the current taxesI pay every year.
Businesses would be taxed onmaterial operating expenses as opposed to thecurrent system that weighs profits against costs. There would beless cost business which means small businesses get to keep a larger portion of their profits allowing for moreunrestricted growth. Big business profits in the same manner which meansbetter growthand more jobs.
There is no break for the wealthy like there is under our current system. Everyone, except those below the national poverty level, pays at the same rate. I can't see how anyone would think this gives an unfair advantage to any one groupof consumers. Remember, this is a consumer based tax. I would much rather pay $8.50 per$1000.00 on a national consumer tax than pay17 to 28% of my grossto the IRS and thenhave to justify my tax relief to the IRS.
Last but not least this reform would all but eliminate the largest department in the federal government,the IRS. Social Security would befunded properly. And here's the real kicker is that this tax porposal would unleash the real power of our economy which means more jobs. I don't have a degree in economics but I can appreciate thefar reaching impact the national sales tax would have on me especially since I am retiring.
imported post
You pay less.
Small business pays less
Big business pays less.
Poor people pay less.
Generates more revenue, i.e. pays for Social Security.
Sounds like magic. Wait, it is magic! The magic of the governmentprinting money to inflate away themassive deficits.
You're going to pay one way or the other. Sorry.
You pay less.
Small business pays less
Big business pays less.
Poor people pay less.
Generates more revenue, i.e. pays for Social Security.
Sounds like magic. Wait, it is magic! The magic of the governmentprinting money to inflate away themassive deficits.
You're going to pay one way or the other. Sorry.
imported post
"The Fair Tax Plan" charges taxes on all new items at the retail level at a rate of Approx.22 percent which is what is built in to the price of the item right now what it does is collect taxes from a group of rich people such as Senator Kenndy who has all kinds of money which he pays not tax on because it is not earned income. Think of the money which goes into IRS for your and every company in this country pay accountants to try to avoid paying taxes. For necessary items such as food the goverment would refund a $ amount each month so as to avoid a group requesting a special non taxable status. So you check would be 100% your until you but somthing new at the retail level. A used car has already paid the tax so would be no tax your home if new would pay 22% if not then it would be not tax. Check out The Fair Tax Plan by Nealz Boortz and congressman John Linder. No more dread APRIL 15th
"The Fair Tax Plan" charges taxes on all new items at the retail level at a rate of Approx.22 percent which is what is built in to the price of the item right now what it does is collect taxes from a group of rich people such as Senator Kenndy who has all kinds of money which he pays not tax on because it is not earned income. Think of the money which goes into IRS for your and every company in this country pay accountants to try to avoid paying taxes. For necessary items such as food the goverment would refund a $ amount each month so as to avoid a group requesting a special non taxable status. So you check would be 100% your until you but somthing new at the retail level. A used car has already paid the tax so would be no tax your home if new would pay 22% if not then it would be not tax. Check out The Fair Tax Plan by Nealz Boortz and congressman John Linder. No more dread APRIL 15th
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