The fairtax will shift more of the tax burden from the wealthy to the middle class. The government will spend the same, the poor don't have enough to matter even if the goernment took 100% of their money. The great con game of the right is to get all the blue collar guys to root for the wealthy and favorable tax and investment opportunities for the wealthy because they dream of being a billionare someday too. It cracks me up when I see someone get all worked over the death tax when it will never affect them or anyone they know. The fools don't realize that for every less dollar a billionare pays that is another dollar that comes out of their own pocket. They will need that extra few dollars shopping at walmart. Bottom line the unfair retail tax scheme will never happen anyway so no use getting worked to much over it.
How about this version of a fair tax First 200k exempt from income tax. This is probably over 80% of the people. They would still pay FICA. From 200k+ to 1mm, tax rate is 50% over 1mm, 60% When the income tax was introduced in 1913, it was only paid by the super wealthy. Time to bring back that philosophy. The economy would boom.
Not correct. Rich people tend to spend more than the middle class, and they buy expensive things more often. Therefore, they will pay more taxes.
Soon a majority in this country will pay not one cent in federal income taxes. The game plan for democrats has always been to soak the people that pay the most taxes. Fifty percent could care less, they don't pay anything. Do you really think if every person had to pay the 23% sales tax, that congress could easily raise the % ? Don't think so. At that point we'd have almost everyone on the side of not raising the %. Yes, they do constantly monkey with cap gains, death taxes and every other kind of tax. That's part of the beauty of the FairTax. All these taxes go bye, bye.
You are making statements that are false. Can you explain how the middle class will have the tax burden shifted to them? Also, if you're a democrat, why would you not want people living at or below the poverty level to have absolutely no tax responsibilty at all, including payroll taxes? I asked a (D) congressman in person that question once, but he never answered me. I already know why.
Next time ask your congressman, why is it that social security tax taken out of payroll wages has a cap on it? And ask how him to explain how the following are equal? A)Effective tax on 106.8k or less ~ 6.00% B)Effective tax on million ~.066% C)100 million? ~ .007% D)100 million +? spare change Which individual is dodging the tax responsibility here - A, B, C, D? Reality and Fiction, what a divide. Bonus, self employed risk takers get the full amount burdened upon them as rewards and incentives for the risk they take.
Essentially, you believe that social security taxes are unfair? I agree. Let's eliminate them by implementing the FairTax.
I was addressing the argument on unfair payroll taxes, and for some reason, depending on how you spin it, some seem to miss the details. I agree with some of the FairTax arguments, but the devil's always in the details. Which like everything else that seems to come our way, we never get to see until it is rushed out overnight and quietly passed without much discourse from the public and a whole lot of input from corporate lobbyists.
I'm not missing the details and I'm not spinning. I coded a system for a human resource department to calculate the social security taxes for their paychecks. It was insane. Generally, the more money you earn, the higher your tax burden should be. That's what most people want to see happen. The FairTax delivers on that. And you're right, the devil is in the details and we have to elect congressmen and senators who keep it simple and straightforward.
I wouldn't ask that question, because it would show interest in our current tax code. I don't want it changed, I want it replaced by the FairTax.