Unfortunately this thread took a tax turn.

Here is some good reading, on a what seems like a very good plan.

Usually that means it would never be passed




The FairTax is a proposed change to the federal tax laws of the United States that would replace all federal income taxes[1] with a single national retail sales tax. The plan has been introduced into the United States Congress as the Fair Tax Act (HR 25/S 1025). The tax would be levied once at the point of purchase on all new goods and services. The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or 'prebate', of tax on purchases up to the poverty level.[2][3] The sales tax rate, as defined in the legislation, is 23 percent of the total price including the tax ($23 of every $100 spent—calculated similar to income taxes). This is equivalent to a 30 percent traditional U.S. sales tax ($23 on top of every $77 spent).[4]
With the rebate taken into consideration, the FairTax would be progressive on consumption,[3] but would also be regressive on income at higher income levels (as consumption falls as a percentage of income).[5][6] Opponents argue this would accordingly decrease the tax burden on high income earners and increase it on the middle class.[4][7] Supporters contend that the plan would decrease tax burdens by broadening the tax base, effectively taxing wealth, and increasing purchasing power.[8][9] The plan's supporters also argue that a consumption tax would have a positive effect on savings and investment, that it would ease tax compliance, and that the tax would result in increased economic growth, incentives for international business to locate in the U.S., and increased U.S. competitiveness in international trade.[10][11][12] Opponents contend that a consumption tax of this size would be extremely difficult to collect, and would lead to pervasive tax evasion.[5][4] They also argue that the proposed sales tax rate would raise less revenue than the current tax system, leading to an increased budget deficit.[4][13]
In recent years, a tax reform movement has formed behind the FairTax proposal.[14] Increased support was created after talk radio personality Neal Boortz and Georgia Congressman John Linder published The FairTax Book in 2005 and additional visibility was gained in the 2008 presidential campaign. A number of congressional committees have heard testimony on the bill; however, it has not moved from committee since its introduction in 1999 and has yet to have any effect on the tax system. The plan is expected to increase cost transparency for funding the federal government, and supporters believe it would have positive effects on civil liberties, the environment, and advantages with taxing illegal activity and illegal immigrants.[10][15] There are concerns regarding the proposed repeal of the Sixteenth Amendment, removal of tax deduction incentives, transition effects on after-tax savings, effect to the income tax industry, incentives on credit use, and the loss of tax advantages to state and local bonds.

Poverty in the US? Yeah right...

I am poor, with my cable, cell phones, new cloths, dvd movies, etc.

Want to see poverty visit a 3rd country

Poverty (also called penury) is deprivation of common necessities that determine the quality of life, including food, clothing, shelter and safe drinking water.


Deprivation in the US is an oxymoron.

DTRO, sign me up! I've already drank the kool-aid (flavor-aid) on this back when Jesse was talking about it on KFAN. I think it would be a fair way to tax, but it will never happen because it doesn't need CPA's and lawyers to work.

Exactly, it's too easy

To get back to thread, my decision hasn't changed. McCain/Palin is who I will vote for.

I watched a town hall style meeting, as i'm sure many of you did back in august, where the same questions were put to Obama and McCain. The most interesting question put to them both was this. "What do you consider wealthy?" McCain's response "5 million" and then he went on to state that wealth is proportionate to area, yada, yada,yada. Baracks response "150,000 and your doing pretty darn well!"

Here's where I agree with McCain over Obama's response. Think of most small start up business's and small business in general. I'm sure most will agree that it's the foundation of our country. Don't you think that most of these business's have an operating cost of about 150,000 t0 250,00 at a minimum, so therfore are considered to be in the top 5%? So therefore lets tax the he11 out of them so then they have to close, provide less jobs, and ultimateley make the tax burden greater on thase who can make it through and then prices go higher and people become more poor.

My point is most of the top 5% er's own business which provide the jobs for you and me. So give them the tax hikes and the cost will trickle down to us. Us as in the consumer's, the employee's, the small business owner's. That's why the socialist way of fiscal taxation never works. Because we, the little people, pay for it anyway.

Ease the tax burden on the wealthy and they will spend more, create more jobs, and then everything evens out.

Any chance the mill stone of pension plans, putting too many eggs in low mileage trucks or Americans that buy foreign have anything to do with it???

To answer your question, yes. I am sure it does have an effect.. as does oil price, devaluation of the dollar, etc.. Point was that tax increases dont create jobs.. atleast not for the private sector.. Taxes cause employers to go overseas and hire there..

so then the bush tax cuts that we need to make permanent are responsible for the unemployment rate remaining so low (compared to the great depresion)

Taxes Taxes Taxes Is that all people care about. They are going to be with us forever. So now ask yourself how much money do you save with 5% tax cut personaly. For me it is just under $1000 per year for my household. Whooppeee paycheck to paycheck I probably would never notice a tax rise or cut So it is not worth debating.
I fear that candidates get elected on a plan and promise but that plan is forgotten because they have to deal with the here and now. domestics get you elected but you are remembered for how you react to world events. The next president will too, and that is where a president shines or fades.

For me that is a couple grand or so that won't be going into my retirement funds. I really don't want to work til I drop.

I don't know, a grand or two in my retirement looks pretty good as well. If you have an extra grand a year to throw around, then go a head. Chew the fat, quit giving to countries that hate us, start trimming down wellfare and many other programs. There's enough money to do what needs to be done. Just have to find people who know how to budget.

Look at things like the tax increase on a pack of cigerettes.. how many people quit because they can't afford them? I quit due directly to the increase in taxes after having smoked about 18 years.. It's the same with business... how many shops close doors because they just can't afford to keep paying the taxes, especially for employees, for equipment, etc.. If you don't care that more of your money is missing from paycheck to paycheck.. thats one thing.. but when you start finding out that jobs are becoming harder to find, then all the sudden you find yourself without a job because the place you work is going out of business.. Then maybe you would want to have tax decreases to stimulate new growth, but by that time it is too late.. the damage has been done..

How many companies are going down because the CEOs take all the profits and expect the common workers to take the fall by decreasing wages and benifits?
It has nothin to do with taxes just greed!And the theory of give the companies breaks and the trickle down money will make a stable econemy! Reagon,Bush,Rep. theory HOWS IT WORKIN?

I actually think it's been a combo of corrupt CEO's and Taxes. I don't believe it's one or the other or one is more evil than the other.

Here we go!!! More Class Warfare!!! Envy and Jealousy abounds. The rich are evil and greedy.

Rich Vs. Poor
Black Vs. White
The Have's and the Have nots

The list goes on