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Thread: HR 25, the "fair tax" bill

  1. #61
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    Quote Originally Posted by Southern Dad View Post
    Empirical evidence is so wonderful, and also bullshit.
    Thanks from Ian Jeffrey and Ęthelfrith

  2. #62
    Southern Strategy Liberal OldGaffer's Avatar
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    Does the "fairtax" impose the tax on stock purchases? How about land purchases? If I buy a 20 million dollar yacht in Greece, do I pay the US a "fairtax"? If I get a 10 million dividend from stock I inherited, is it now tax free? I do not have the energy to look for all the loopholes I am sure are built into this fairtax for millionaires and billionaires to save hundreds of millions in taxes over the current system, but I am absolutely sure they are in it.

  3. #63
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    Quote Originally Posted by OldGaffer View Post
    It infuriates them that poor people do not pay income taxes. Even though the poor are slammed by state, local and payroll taxes that actually force them to pay a higher total percent of their income in overall taxes than the rich.
    It's ok to punish the poor. If they didn't deserve it, they wouldn't be poor.
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  4. #64
    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by Dittohead not! View Post
    [COLOR=#333333][FONT=Arial]Being considered currently in Congress:



    Opinions?

    source
    Another Kabuki Dance rehash of a tired, old, right-wing AM radio talk show pipe dream.

    What's next? A bill to rescue the child sex slaves from Mars?

  5. #65
    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by Southern Dad View Post
    Empirical evidence is so wonderful, and also bullshit.
    Quote Originally Posted by labrea View Post
    "Facts are stupid things."
    ~Ronald Reagan
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  6. #66
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by labrea View Post
    They pay no income tax because they haven't got a pot to piss in.

    If youre concerned about the debt, perhaps you should give up your government retirement. That would contribute in two ways, lower your tax liability by lowing your income, and reducing the money government needs to pay out. To hear you talk, you can get by without it.
    That's not going to happen, thank you however for your suggestion.

  7. #67
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by labrea View Post
    It's ok to punish the poor. If they didn't deserve it, they wouldn't be poor.
    It doesn't punish the poor. We're just looking for their "fair share." Is 1% too much to ask? The church demands 10%

  8. #68
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    Quote Originally Posted by Southern Dad View Post
    Except that due to the prebate the lower income groups won't be paying that 23%, will they? On the positive side, this type of tax would get paid by everyone including those that do not file tax returns. Drug dealer? Illegal arms dealer? You bet, all would pay.
    The prebate is based on poverty level income - not real helpful to the already financiall stressed middle class. And the rate is 30% added to the price of goods, and services.

    Among those who will pay who do not now file tax returns, are kids saving their own money to buy something special.

    Will the drug dealer, and illegal arms dealer be adding the fairtax to the price of their sales? If not, then it is a wash - the income taxes that don't get paid, are now the sales tax that doesn't get paid. They will, however, be entitled to their monthly prebate check.

  9. #69
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    Quote Originally Posted by OldGaffer View Post
    Does the "fairtax" impose the tax on stock purchases? How about land purchases? If I buy a 20 million dollar yacht in Greece, do I pay the US a "fairtax"? If I get a 10 million dividend from stock I inherited, is it now tax free? I do not have the energy to look for all the loopholes I am sure are built into this fairtax for millionaires and billionaires to save hundreds of millions in taxes over the current system, but I am absolutely sure they are in it.
    The biggest boon I can imagine would be for those receiving income from a us source, but living abroad. No income tax, no fairtax.

  10. #70
    Veteran Member bonehead's Avatar
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    Quote Originally Posted by labrea View Post
    The prebate is based on poverty level income - not real helpful to the already financiall stressed middle class. And the rate is 30% added to the price of goods, and services.

    Among those who will pay who do not now file tax returns, are kids saving their own money to buy something special.

    Will the drug dealer, and illegal arms dealer be adding the fairtax to the price of their sales? If not, then it is a wash - the income taxes that don't get paid, are now the sales tax that doesn't get paid. They will, however, be entitled to their monthly prebate check.
    all things considered, the "fair tax" does not, in my opinion, have sufficient support to pass - even if you don't consider the constitutional challenges and changes which will be required. actually, I prefer my tax proposal over the "fair tax" system - takes less oversight.

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