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If you grew up on the FAIR TAX system

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  • If you grew up on the FAIR TAX system

    # On every payday you get your complete paycheck. There are no deductions. No withheld income tax, no Social Security Tax, no Medicare tax. If you earn $2,000 per week, you get a check for $4,000 every two weeks. You have never had to make a distinction between what you earn and your "take-home pay."

    # Throughout your work life, every time you have ever earned a raise where you work, and every time you've ever changed jobs for more pay, you have never had to try to figure out in your mind how much of that raise, or how much of your new paycheck, you are going to be able to "keep." A $5,200 per year raise has always meant an extra $200 every other week in your paycheck.

    # You have never had to save receipts or create any records pertaining to federal taxes. The only real purpose you have for a receipt is in case you want to return that ugly dress your husband bought for you.

    # You have always been able to invest what you earn without first having to pay any federal taxes on it. Every time you've had money left over at the end of the month you've put that money into a savings account or other investment. That money has never been taxed, nor has the interest you earned and nor has the gains on your investment.

    # When your parents died they left all they had for you, just as their parents did for them. There were no taxes when your parent's inherited your grandparent's estate, and no taxes to be paid when you inherited from your parents. You know that you will be able to leave whatever you have earned and accumulated to whomever you wish[3] without any tax consequences. You have never known the death of a loved one to be a taxable event.

    # Every time you have gone to the store to buy an item, and the price tag said $19.99, you have handed a $20 bill to the cashier and received one penny as change. All your life the price tag on the item has been the price you paid at the cash register, all of your life the tax man has taken his 23% out of that purchase price, and all your life that stupid little trick of trying to make something appear to be cheaper by lopping one cent of the price has ticked you off.

    # There are four people in your household. You, your spouse and two rug rats. At the beginning of every month you get a check or a credit to your checking or charge card account in the amount of $506.00 to compensate you for the federal sales taxes that are included in the price of everything you are expected to buy during that month -- right up to the poverty level. You know now, as you have always known, that you can purchase the basic necessities for your family without paying any tax whatsoever to the federal government.

    # For you, paying taxes to the federal government has always been voluntary. You save your money after providing the basics to your family, and you're not taxed. You spend your money, you are taxed. Your choice.

    # You have never had to fill out a federal tax return.

    # You've never received a letter from the IRS.

    # For all you know an IRS agent is someone who works for the Iowa Railroad System.

    # You have never had your bank make a report to the federal government on your deposit or withdrawal habits, either with or without your knowledge.

    # The federal government has never surreptitiously gone to your bank to peer through your statements for the past seven years.

    # Though you've never heard of something called the Alternative Minimum Tax, the very sound of that phrase is unsettling to you.

    # You have had to hide under your bed to avoid getting a good job, such being the strength of the American economy.

    # You have never known of any instance where any politician in Washington has ever tried to use federal tax policy to control your behavior in any way.

  • #2
    Re: If you grew up on the FAIR TAX system

    imho, if mccain were smart enough to pick huck and the fair tax

    he would win in a landslide

    hate motivates, what do people hare more, the war or taxes

    i'd say taxes

    i really hope and pray he goes the fair tax route, even russia has a flat/fair tax

    it's called efficiency

    Comment


    • #3
      Re: If you grew up on the FAIR TAX system

      boy...there'd be alot of pissed off accountants out there....a whole industry whipped out...millions of people (accountants, irs-goverment workers, ect..) thrown into the machine to fight for everyone else's jobs! i wonder how many will open dealerships and cdl training schools???..

      i dont know that, that is realistic. i THINK i'd want it (flat/fair tax), i'd just want to know alot more of the impact it would have
      HE WHO MAKES A BEAST OF HIMSELF, GET'S RID OF THE PAIN OF BEING A MAN!!


      http://www.infinitymuscle.com/forum.php







      "Actually for once your actually starting sound quite logical!"-djdiggler 07/10/2007

      I LOVE BOOBOOKITTY...

      Comment


      • #4
        Re: If you grew up on the FAIR TAX system

        Originally posted by daved150 View Post
        boy...there'd be alot of pissed off accountants out there....a whole industry whipped out...millions of people (accountants, irs-goverment workers, ect..) thrown into the machine to fight for everyone else's jobs! i wonder how many will open dealerships and cdl training schools???..

        i dont know that, that is realistic. i THINK i'd want it (flat/fair tax), i'd just want to know alot more of the impact it would have
        That's why it would take someone with brass balls, or it ain't happening. Too many well set folks would be put in the unemployment line. They don't mind raping us though. phuckin irs...
        1 up

        Go Gators


        Comment


        • #5
          Re: If you grew up on the FAIR TAX system

          dave dave dave dave dave,


          if it is 100% above board for everyone and everything, ie, let's say 10%

          they can't jack with it, with out a vote

          with 10,000 different taxes on 100,000 different things, and 2-300,000 laws, who do you think prospers in this environment

          it sure ain't the free market, it's the money that can influence, a bad investment can magically turn into gold over night cause someone changes the tax structure on it, even though the investment might create no real value

          it is false incentive

          just think of ethanol, without tax incentives we would not be using our food for fuel

          Comment


          • #6
            Re: If you grew up on the FAIR TAX system

            dude...i'm not saying i'm against it...i would want a REAL assesment on the impact it would have on our lives...i'm telling you, millions of people would be un-employed...not blue collar people. white collar. the ones that have a hardtime landing a gig now!! i'm all for simplifing things...i'm all for less taxes and spending less money on the wages for these people (irs, ect) but what's MY accountant gonna do for a living. not that i care about him so much, but he thinks this school, once it turns the corner, is gonna be a gold mine...i dont want him to open another one next door!!!
            it dosnt matter really...it wont make it through. no-way. mccain can swear up and down he's gonna make it happen, but that proposal will never make it.
            HE WHO MAKES A BEAST OF HIMSELF, GET'S RID OF THE PAIN OF BEING A MAN!!


            http://www.infinitymuscle.com/forum.php







            "Actually for once your actually starting sound quite logical!"-djdiggler 07/10/2007

            I LOVE BOOBOOKITTY...

            Comment


            • #7
              Re: If you grew up on the FAIR TAX system

              Originally posted by trip View Post
              imho, if mccain were smart enough to pick huck and the fair tax

              he would win in a landslide

              hate motivates, what do people hare more, the war or taxes

              i'd say taxes

              i really hope and pray he goes the fair tax route, even russia has a flat/fair tax

              it's called efficiency
              i think everyone pays same percent period
              If bigger is better then im better than ever !

              Comment


              • #8
                Re: If you grew up on the FAIR TAX system

                Now that we've established your hypothetical economic situation (fair tax), along comes a politician who has a grand new scheme for a new tax system. Before it can become the new law of the land, he has to explain it to you and get your support. After all, it's going to take a Constitutional amendment to get this done.



                The plan is simple. First the inclusive national retail sales tax is going to be removed from the price of everything you buy. This will mean that everything will cost 23% less than it does now.

                So far so good, but you had better be real quick with your celebrations, because all is not as it seems.

                The next step in this politician's grand plan is to have the federal government tax every single penny that you earn. Now you're a pretty successful kind of person, and this new tax plan this politician is trying to sell you is going to tax you based on how successful you are at making money. But hey! You might think that it's perfectly fine for you to pay more taxes if you earn more money. After all, that's the way it has been since you drew your first pay check. The more you earned, the more you spent; and the more you spent the more retail sales tax you ended up paying to the federal government.

                Well, your politician friend has a bit of a twist for you. Sure, you're going to pay more income tax as your income goes up; but here's the surprise. The more successful you are the higher the income tax rate is going to be!

                Oh! You want details? Well, for some reason this politician is a bit reluctant to give you the details on just how this fancy new income tax is going to hit you, but we've managed to look into a crystal ball and copy down the figures. So here you go.

                Now ... as you absorb these figures, remember this: Up until now all you have ever done is pay 23 cents out of every dollar you spend to the federal government. That's it. We're not trying to hammer this in...but remember that you've never paid anything on any money you've invested or saved.

                Now...under the grand new scheme...here's what you will pay:

                1. You will pay 10% of every dollar you earn up to $15,650.
                2. You will pay 15% on every dollar you earn between $15,650 and $63,700.
                3. Then you'll pay 25% on every dollar from $63,700 to $128,500.
                4. Next you'll pay 28% on every dollar from $128,500 to $195,850.
                5. Then you'll pay 33% on each dollar from $195,850 to $349,700.
                6. Finally, you'll pay 35% on each dollar over $349,700

                We'll assume you're in the middle income bracket. Does the plan sound good to you so far? You used to pay a 23% inclusive sales tax on purchases past the poverty level ... now you'll have to pay 25%, not just on what you spend, but on what you earn! Push those earnings up a bit and the rate climbs!

                Next your political benefactor is going to take away your $500 per month rebate from the government. In its place he's going to tax every penny you earn. You are going to get some tax deductions under this plan, but these deductions don't come anywhere close to the prebate you've been receiving all your working life.

                Now if you aren't already dancing in the aisles over the prospect of this great new tax plan, this ought to do it for you. Not only does the new plan this politician is trying to sell you tax your income, but there's also going to be a nifty little thing called payroll taxes!

                All your life Social Security and Medicare has been paid out of the federal revenues generated by the FairTax. The rates your politician is proposing for the new federal income tax isn't going to cover the cost of Social Security and Medicare, so you're going to have to pay for them separately.

                First; Social Security. Your employer is going to start deducting 6.2% out of every one of your paychecks. It's going to be called a "contribution," but there is nothing voluntary about it. Your employer is going to have to "match" that "contribution" with another 6.2%. Come on, now. You're smarter than that, aren't you? You realize that your employer is not going to merely swallow that 6.2%. It's either going to come out of your next pay raise (good luck on that for a while) or the price of whatever you are making and selling is going up. You also know that if you were to change jobs under this grand new plan, any new salary would be reduced by the employer's increased costs for this "matching contribution" nonsense.

                Medicare? Nope, it won't be funded out of the income tax revenues. Just like Social Security, you're going to get nailed with yet another new tax to cover Medicare! How much? Well, the new plan is going to use that same "matching contribution" idea, so you'll end up paying another 2.9% of everything you earn.

                Are you adding all of this up? You'll be paying 25% on your income for income taxes, plus those Social Security and Medicare taxes. So—including the matching—you're in the 40% range, and remember ... right now you're only paying 23% on everything you spend.

                Come on, folks. Be serious. How in the world is any politician going to be able to sell such a ridiculous idea to you?

                Wait! We're not through here. There are still more facets to this new tax system that you have to consider and pass on.

                * Do you have any investments out there? You have always been able to invest with absolutely no tax consequences. Now you learn that if this new tax idea becomes law, not only are you going to have to give the government a share of your earnings before you even invest them, but then you're going to also have to pay the government on any money you earn with that investment! They're going to call it a "capital gains" tax. What they're really talking about is a tax on capitalism.
                * We're going to have a death tax! Isn't that just grand? When you die your family is going to have to file a complicated estate tax return. A huge amount of the wealth you have managed to build during your life is going to be sent to the government. Your survivors may well have to sell the family business in order to come up with the money to pay for these death taxes.



                Just a few more points about this new tax plan they want you to embrace:

                * You're going to have to keep records of all of your financial transactions.
                * Every year you're going to have to spend no less than about 30 hours or spend hundreds of dollars to hire someone to fill out tax forms for you.
                * Trillions of dollars will leave the American economy to work in foreign markets where the tax treatment will be much better. Billions more will be spent by businesses and individuals in this country to cover the cost of compliance with the new tax scheme.
                * If you make mistakes on your federal tax forms you will be hit with a huge penalty and interest. You could even go to jail.
                * The government is going to have access to all of your financial records to make sure that you are paying what some politicians will decide is "your fair share."
                * Politicians will soon learn that they can curry favor with voters by pandering to their jealousies and raising taxes on the evil rich. If you work hard, that would be you.
                * Thousands of people will start earning big bucks inside the Beltway lobbying members of congress for favorable tax treatment for their clients.
                * America will no longer be the world's number one tax haven. Businesses will pack up and leave to find a place where they can do business without a tax component on capital and labor. One of the jobs lost could be yours.

                got this from boortz

                Comment


                • #9
                  Re: If you grew up on the FAIR TAX system

                  dave dave dave dave dave

                  you can invest put energy into stuff that has no return on anything, and creates no value, these guys are pushing paper

                  it would be fased in over time, accountants would not die, they'd just work for the new companies that produce goods with value

                  we have so much false putting money into nothing bs going on, we're falling behind in global growth

                  do u think xyz emerging economy has a gazziollion laws and tax accounts, ie, they have less cost

                  Comment


                  • #10
                    Re: If you grew up on the FAIR TAX system

                    ummmmm, that's our present tax system klash

                    Comment


                    • #11
                      Re: If you grew up on the FAIR TAX system

                      Originally posted by trip View Post
                      ummmmm, that's our present tax system klash
                      Yip. If people are concerned about the fair tax, then they are ignoring our current tax system.

                      Comment


                      • #12
                        Re: If you grew up on the FAIR TAX system

                        ^...or I guess it would be more accurate to say they are not holding the income tax system to the same standards they are holding the fair tax system to.

                        Comment


                        • #13
                          Re: If you grew up on the FAIR TAX system

                          I went thru one of the most intense audits anyone can go thru and came thru without a blemish..it took 12 months to complete...what I remember is my accountant was scared to death of the I R S...thats when I began to realize that most CPAs are basically working for the i- r-s

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                          • #14
                            Re: If you grew up on the FAIR TAX system

                            DAVE DAVE DAVE DAVE,LOL
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                            • #15
                              Re: If you grew up on the FAIR TAX system

                              the goverment needs taxes how would our roads get fixed, state employees get paid ect... It sounds good but some thing are to good to be true not paying taxes is one of them

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