lol a) so what is fair about not taxing necessities but only taxing airplanes, copters, that most in society dont afford themselves. You would unfairly tax the rich. b) how has free speech to do with campaign donations? Are you one of those who would have sued McD because you spilled hot coffee on yourself while there was no warning on the cup? omg, this forum gets funnier by the hour...
The Supreme Court has ruled that campaign donations are a protected form of freedom of speech. Your right to donate money to a political campaign is protected. It can't be blocked. You can put regulations on it but you can't block it.
Consider, for example, your typical billionaire, of which America now has more than 400. These fortunate few are invested primarily in equities on which they pay taxes at a 15 percent rate, whether their income comes in the form of capital gains or dividends. In addition to having the income from their wealth taxed at a low rate, the principal of their wealth is completely untaxed either directly or indirectly. Assuming they and their heirs spend only the income earned on the wealth each year, the tax rate today is 15 percent. In contrast, under the FairTax, the effective tax rate is 23 percent. Hence, the very wealthy will pay more taxes when the FairTax is enacted.
lol, you gotta be kidding, sorry if this is correct then I did not know about that and agree this is linked to free speech (I am not American thus was not aware of the possibility this would ever be considered a constitutional right). But isnt that at the heart of the whole problem of how infiltrated DC really is? With massive contributions there is no way to guarantee the independence of law makers. But I dont want to steer the discussion away from its topic. Back to taxes...
I'm supposed to help you convince me? I find the arguments for the FairTax far more persuasive and convincing (www.FairTax.org)
lol, the funniest part is "it abolishes the IRS" ;-) But hey, lets welcome any effort that changes the status quo. I did not try to change your mind as stated I have no clue about the FairTax. But any tax that does directly tax income does not make sense from the beginning, and I stated why.
How about this for an idea. For instance if California decided that it doesn't like the amount of tax it pays to the IRS then:- they create their own currency i.e. Cali dollars. Making this new Cali $ = 2 US $ thereby halving their tax contribution overnight.