FairTax

[gatorjohn]

Let's hear your opinion about the FairTax!

[Fox17]

what is it?

[Ida_Mann]

love it,,,,,,dunno if the masses would understand all of it though.

Id@

[Bigscrb15]

im for it..... http://fairtax.org/

[gatorjohn]

Fox17, it would abolish the IRS, you would no longer have to file a return by April 15 (it would just be another nice day). Do you know how much you paid in taxes last year??? We (EVERYONE--- from Bill Gates to illegal aliens) would be paying a consumption tax for all goods and services purchased. Check out www.fairtax.org for details.

[Mr. Fixit]

Fox,It's all to do with your future. Get the book by Neil Boortz and John Linder and read it.It will be the most important book you will read. 

[gatorjohn]

Well stated Mr. Fixit! The young people of this country stand to gain the most when it's passed.

[Quad32x]

When you say IRS the hair brisels on the back of my neck. Anything that would get rid of the IRS is a good thing !

[yunt2ride]

What would happen to all these people with all these kids that don't work and sit back and wait on that child credit refund check at income tax time. That would be a funny site.

[gatorjohn]

There would be no more refund checks, they would get a prebate check monthly based on the family size.

[4fittyr]

im all 4 it   irs has been screwin me for the last 20 yrs, time to make changes or flat tax

[Mrs.Nightbreed]

I don't know. My knowledge of this is limited, but it seems as if it would help the rich more than the average person. Until we opened the shop, we always got a return. Now we don't get as much of a return but don't have to pay in so its all good. I have a payroll company, so we do get small paychecks with taxes taken out. Makes life a lot easier at the end of the year.

Anyway, to get to the point. That would make a 23% sales tax added to our already 6.5% (Orange co.) So we would all be paying 1.30 for a 1.00 bottle of soda...In the big picture, I don't know if that would be financially any better than getting taxes taken out of my check. Think about a weeks worth of groceries: 100.00 would be 129.50. Multiply that by 52 weeks and everything else you buy. Will it really help?

[xr100racer]

taxes on my pay check suck but 29.5% sales tax is not cool

[Fox17]

o ok. well im 16 so i havent payed t6axex yet cause i had no need to. never got money. anyway i guess it sounds good. anything that gets rid of the irs is good i guess. ill look into it.

[Bigscrb15]

I don't know. My knowledge of this is limited, but it seems as if it would help the rich more than the average person. Until we opened the shop, we always got a return. Now we don't get as much of a return but don't have to pay in so its all good. I have a payroll company, so we do get small paychecks with taxes taken out. Makes life a lot easier at the end of the year.

Anyway, to get to the point. That would make a 23% sales tax added to our already 6.5% (Orange co.) So we would all be paying 1.30 for a 1.00 bottle of soda...In the big picture, I don't know if that would be financially any better than getting taxes taken out of my check. Think about a weeks worth of groceries: 100.00 would be 129.50. Multiply that by 52 weeks and everything else you buy. Will it really help?

The prebate takes care of that. Every family gets a "prebate". If you are a family of 4(2parents, 2children) your allowance is $26400, so you will get $6072/year(23%) as a prebate. you will only end up actually paying taxes if you purchase more than $26400 worth of goods.

http://fairtax.org/PDF/2006FairTaxPrebates.pdf

[gatorjohn]

taxes on my pay check suck but 29.5% sales tax is not cool

They are actuallygoing to be around 23%. Someone is playing mathematical semantics with you. The difference is whether you concider the taxes inclusive or exclusive. Buy a $100 toaster under the new plan. $77 is for the retailer and $23 goes to the fed. 23% as an inclusive tax right? Now, figured exclusivly. Buy the toaster for $77 and add $23 in sales tax for a total of $100 and the sales tax rate would be 30% . In each case you pay exactly the same for the item and exactly the same tax, the only difference is how you figure the tax. Opponents of the fairtax would rather have you believe you're paying 30% instead of 23%.

[Ida_Mann]

you also need to take out the other things that get the toaster to the store that add "tax" to the price that we normally don't think of.

The manufacturer has to pay their suppliers tax on their supplies that don't neccessarily go into the final product, but the cost of taxes they pay does.

The shipper has to pay taxes on things that go down to even the boxes they package the toaster in,,,,then they pay tax on the fuel for the truck that they put the toaster on, someone paid tax on the tires that go on the truck, someone paid tax on the truck that the tires went on that the toaster went on,,,,on and on and on......

Now, some will say,,,OK, since the stores are getting the toasters cheaper now, why wouldn't they leave the price alone and reap bigger profits?  That I think will last a couple minutes at most because some stores will leave their profit margin the same and start undercutting their competition easily and then the capitolistic system takes over.

now, what was the original question? ;-)

Id@

[Bigscrb15]

Also another great advantage is that the tax is ONLY on new items. If you buy a used car or used house, you don't have to pay taxes because the government has already collected their 23% of that item.

[yunt2ride]

23% is not bad. Lets figure it out the way it is now.



They already get about 30% income tax on every penny I make. Then they get another 6 to 7% on every thing I buy. Then they take out all those other fees for me working like Social Security and medicare. Thats probably around 40 or 50% before I even get started with what I would like. I know someone will say something about Social Security and Medicaid but If I die at an early age then where does it go. Not to my family. The IRS keeps it and give it to the sorry people out there that does not work.

[Mr. Fixit]

When you get your paycheck there aren't any taxes taken out. You only pay on what you buy. Like Scub said if you buy somethng used no taxes are collected. That would have been great,when I got titles on the atv's I bought used I wouldn't of had to pay taxes on them. Mrs. Nightbreed you would like this system,now get back to work on my engine j/k lol.

[Mr. Fixit]

If anyone has a chance listen to or call the Neil Boortz show. In Orlando it's on WDBO for 8am to 1pm or call 1-877-310-2100. He loves to talk about it. boortz.com is the web site. 

[Fox17]

who came up with fairtax?

[Mr. Fixit]

I think it was Sen. John Linder of Ga.

[Fox17]

dem. or rep.?

[Mr. Fixit]

Do a google search.

[gatorjohn]

He is a Republican and is the bills sponsor in congress. The idea came from economists from several major universities. If enough of the peoples voices are heard (write to your congressmen and senators) this could be law by the 08 election.

[Bigscrb15]

I hope it is law soon. Would solve A LOT of our problems. Look at Canada, they pay 15% sales tax on everything and they get free health care. imagine what we could do with 23% on new our stuff.

[dnigels]

I cast a No vote.  The problem I see is the big ticket items (house, autos), the logic that the pass through costs will be eliminated thereby reducing the base price of items, is a pipe dream that WILL NEVER happen folks.  I am in favor of a flat rate 15% income tax.  We can than take the current tax code and throw it on a bonfire.

Canada's free health care sucks so bad, most people who need any timely or detailed treatment travel to the U.S. and pay huge (no insurance) for it.

[Mr. Fixit]

With a flat tax illegals still do not pay taxes and we still support them. With the fair tax they do pay taxes and take the bourdon off us.

[Mr. Fixit]

As far as houses and autos,if two dealers are selling the same car,they will always try to under cut each other. The same as two gas statoins on the same corner. If one is priced at 2.20 and one at 2.25 where are all the people going to get gas. Soon the other will drop his price to stay competitive. 

[tat2mike]

what about property taxes i suppose they will be affected as well right?   

[Bigscrb15]

what about property taxes i suppose they will be affected as well right?  

No, you will still pay property tax because that is on the local level. Fair Tax is just Federal

[dnigels]

With a flat tax illegals still do not pay taxes and we still support them. With the fair tax they do pay taxes and take the bourdon off us.

The govt. could certainly do more to combat illegal aliens.  But the biggest problem is the greed of the American Citizen (me included).  Don't hire illegal aliens!  Supply and demand dictates if they don't have any money (taxed or not taxed) the problem, as far as whether they pay tax on it is moot.  They can't buy goods either, so the attraction of coming here will be diminished considerably.

I don't want to pay to support illegal aliens either!

The money made from taxing 15% of the mega-rich incomes (much of which is now loop-holed out) is 100 fold more than what we are shelling out for illegal alien support programs and lost taxes.

Combine these ingredients, and I believe you will have a winner!  Thats just my 2cts.

[Quadracer]

I think it is a great tax!

[dreadhed]

I cast a No vote.  The problem I see is the big ticket items (house, autos), the logic that the pass through costs will be eliminated thereby reducing the base price of items, is a pipe dream that WILL NEVER happen folks.  I am in favor of a flat rate 15% income tax.  We can than take the current tax code and throw it on a bonfire.

Canada's free health care sucks so bad, most people who need any timely or detailed treatment travel to the U.S. and pay huge (no insurance) for it.

The tax would only be on new cars & homes.  Just think how many taxes are in a new house now.  Everyone who works on the house & all of the supplies have taxes that are passed on the the buyer.  I like the Fair Tax, but I would also take for the flat tax over the current system.

[scamutz]

The way I see it, the best thing about the Fair Tax is that I don't get penalized for the amount of money that I work to earn.  AND, I am in control of how much tax I pay.  If I don't want to pay excess taxes, don't buy new cars, grow a garden, drink more water, etc. etc.  Reality is that i'm probably too lazy to do those things, but as least I'm in control...  I don't see that there's a loser anywhere.

[gatorjohn]

The way I see it, the best thing about the Fair Tax is that I don't get penalized for the amount of money that I work to earn.  AND, I am in control of how much tax I pay.  If I don't want to pay excess taxes, don't buy new cars, grow a garden, drink more water, etc. etc.  Reality is that i'm probably too lazy to do those things, but as least I'm in control...  I don't see that there's a loser anywhere.

All excelent points! Please check out the website and sign the petition. The more names the better.

[dnigels]

The talk is the use tax on new items replacing income tax.  Incom tax is Federal.  Current sales taxes are State taxes.  THEY ARE NOT GOING AWAY!