Lords of Death Forums Lords of Death Forums LoD General Discussion Get rid of Income Tax? (Fairtax)

While the rich still find loopholes and tax shelters, they still pay a hefty amount of taxes in most respects. Lets make another point, that you missed, perfectly clear. Those who are rich make up a very small percentage of our population. Either way, they really don't make that big of a difference either way.
As far as corporations not being taxed and thereby dropping prices and moving more jobs back to the states, that is a fucking fairytale too. They wouldn't drop prices and they would also keep jobs overseas due to labor rates, not due to taxation. Their largest tax hit, and one of our country's biggest revenues, is from profit and the government will not give this up.
Next, one of the main reasons for an income tax over something variable, such as a sales tax, is that it is somewhat forecastable and allows for budgets to be made. How do you expect our Treasury to react to an unpredictable revenue that is not definable except by yearly sales? Not going to work.
Last the main reason that whole idea is just basically retarded is due to the aspect of our economy. You raise sales tax that much, you end up stifling spending. Our economy is built around this. The domino effect would cause that whole idea to turn around, bite us in the ass, and put the US into a depression. Also the fact that you mentioned so called proration and that we would eliminate tax on items that are essential is ludicrous too. Under the "Fair Tax", this is only going to come from luxury items? Irony. How FAIR is that?

NT

Because I think giving ppl more control over theier money is good. Imagine what would happen if we had ALL of the money we make to divide how we see fit. I would personally just put 25% into an IRA.
The fact is that most ppl are in the economic status they are in because of 2 reasons, or the combination of the 2, uncontrolled events like a sickness or inheritance and thier choices. I beleive the Gov. can and should do what it can to help those who genuinely need it (not coddle the leeches) but shouldn't take our money and tell us it'll be good for us later. A system like this would actually enable those that simply make less, to do more with thier money and force irresponsible spenders, like myself, to use thier money more wisely and invest more.
Also, if everyone had more money to invest, wouldn't it do quite a bit to improve the overall economy?

What you mentioned are parts of a very complex issue. More needs to be done. The actual function and structure of our government, in many areas, are antiquated and inefficient. It wouldnt' be too hard to believe that we could actually save money in many areas while increasing the benefit. I also agree that John McCain would be an ideal candidate.

Good goin' F.A.G, you really made this world a better place. <img src="/~stretch/ubbthreads/images/graemlins/smile.gif" alt="" />
-Bal.

the rich might make up a small portion of our country but did you know 10% of the population owns 90% of the wealth?? wait less people have more money?? so whats that mean? and the rich might pay a hefty tax what 2% where we pay 28% humm... thats sounds right, right? The number one economy in the world is hong kong what tax system do they use? A MODIFIED FLAT TAX SYSTEM! So get the facts you dumb shit and read the book you will learn something!

First off there have been studies to show that the FairTax would allow the revenue to stay the same, if not grow. And guess what? People have to buy things; People want to buy things. It's human nature to indulge ourselves.

Are you ready for this? You're wrong! Flat out wrong. Under our current system there is a 22% embedded tax on typical consumer products. If the FairTax plan were to pass, that embedded tax would be removed (along with payroll taxes, SS taxes, Medicare, so and and so forth) and be replaced with a 23% sales tax. Something that costs $100 now would cost something like $101 afterwards, BUT you are getting, on average, a 25-30% larger paycheck. Seems to work out pretty well doesn't it? You liberals just can't seem to use logic can you?
About the prebates. There is a formula in the FairTax Bill that sets out how much money the government thinks you should be spending over the course of a year (depending on your marital status, children, income) on necessities (food, clothes, etc.) and determines how much of that amount is the 23% sales tax and pays you that amount back over the course of 12 months. This prevents the rich from getting money back because they "need" a $300,000 car. So in reality, the rich are paying more than the poor anyway you slice it... which I'm sure you love.
Next argument please.

So instead of trying to argue with facts, heck even opinions, you resort to personal attacks. Signs of someone who has no clue what they are talking about.

did i not use facts?????? personal attacks are only ok if there used against a non libreal it seems. I mean no one said anything about the libreal attacking me. nothinkg unusual.

lol, i pwn