I haven't read his book but I do know that the fairtax would have to be implemented under very strict terms in order for it to work, the IRS and the 16th amendment would have to be abolished and government spending would have to be limited to something like 10%. If those things don't happen then it would just end up being like the VAT that goes along with income tax and just strips more people of their money for no reason.
Actually, it would be simpler than you think to implement. Its just a change of the tax code, which gets changed all the time anyway. What it would mean is that instead of paying taxes every spring, we would pay taxes on the items we purchased, and then get a refund in the spring...it would mean the end to the IRS, but is that a bad thing?
No, that is a good idea but my fear is that instead of there just being a sales tax there will be a combination of both unless certain things are done.
Well thats why Boortz has a degree in law and knows how to work things out...the interesting part is that consumer's goods don't go up in price. It has instead a tax already figured in. This could not only save the consumer a lot of money, but it could save the govt. a lot as well....
I have read that item taxes hit harder the lower your income. This meaning that as your income is lower, the proportion of your income that is used life sustaining items goes up. In a way the less you make the more of your income you are required to be taxed on.
"The rich" should not be forced to pay a disproportionately high amount of taxes just because they can afford to, under the fair tax system people would be able to choose how much taxes they want to pay through their purchasing.
I'm a bigger fan of spending restrictions then reforming the tax system. We use to just use the Constitution (and spending was in check), but it seems we need something more explicit.
I definitely agree, spending should be limited to 10% of the gdp or less. This fair tax is just an ideal, for it to really work spending would have to be limited as you are suggesting and there has to be absolutely no chance of the income/capital gains/wind fall profits/estate taxes ever coming back.
Actually, that is wrong...you don't "choose" how much tax you pay...everyone pays the same. Where the difference is is in the rebate you get back every year. If you are lower income, your rebate would be the same. If you are the "evil-rich" as dems like to call them, you might not even get a rebate...but at the check out, everyone pays the same exact tax.
I know, but you can choose to spend as much or as little as you would like. This system is sounding more stupid every minute, are people then forced to fill out forms regarding how much they spent and what they spent it on, file it to the IRS, and then get a rebate? Would audits still exist? And how exactly does the government collect this sales tax? Having a rebate system still gives too much control to politicians and in the end, cutting spending is better than changing the way the federal reserve collects its interest.
I think ya'll are not understanding it...there is already one book out about it, and just so you can decide for yourselves, here is the link that tells about it. Fairtax
Alright, I'm back to thinking it is a good plan except for the rebate part now I still think there needs to be a section limiting federal spending tremendously though, how is $2 trillion of value added to this country each year exactly? And again, all of this is just in theory. In practice the same retards who actively seek out opportunities to tax people will also be in charge of this system. Edit: Almost forgot, a section needs to be added abolishing the federal reserve and returning us to the gold standard, then it would truly be "fair" as it were
Ah, what a dream. I'd be happy enough with some general limitations on spending ie a particular percentage of our GDP. Restrictions that could only be open due to declarations of war or national emergencies. Less spending means less taxes in the long-run.
I'm glad to see this discussion of the FairTax, a plan that I support. I am one of hundreds of thousands of grassroots advocates across the country who have committed to spreading the FairTax message. The 16th amendment does not have to be repealed in order to enact the FairTax. The legislation, (HR 25) once enacted, immediately shuts down the sections of the current tax code that define and implement the various income taxes. Companion legislation (2 house joint resolutions) that will be introduced to Congress shortly start the process of ratifying a constitutional amendment that will repeal the 16th amendment. Once we all get a taste of being released from IRS tax filing, Congress will vote to pass the legislation by the required 2/3 majority in both houses, and the required 3/4 of the states will vote to ratify the 28th amendment. btw if you're concerned about having a consumption tax along with income taxes, that could happen now. It has been discussed in Congress. Regarding spending: it's out of control as we all know, but we don't have to limit spending to enact the FairTax; it can be enacted with spending the way it is. The difference is this: under the FairTax, each consumer retail receipt will indicate the total price paid along with the tax amount and percentage (23% built into the price.) This will make spending very visible and will make Congress far more accountable for their spending of our tax dollars. The comment about the FairTax having to be implemented under very strict terms in order for it to work is unclear. Can you elaborate? As for a VAT, the FairTax is a consumption tax, levied one time on all retail purchases of new goods and services. No other pre-retail tax is compatible with the FairTax. Income taxes give government power; consumption taxes give us power. I sincerely recommend reading The FairTax Book. I hope to see more posts about the FairTax. We need to pass this legislation and get the government out of our finances and lives, and grassroots support is the only way to do it. Chad Sargent FairTax Volunteer Raleigh, NC
Thanks Chad...I am also happy to see other people getting involved with the fairtax...there are a lot of people down here in SC that support it as well...