Replies: 23
| visibility 480
|
Oculus Spirit [78865]
TigerPulse: 100%
Posts: 26422
Joined: 12/6/98
|
maybe I need to change my choice to Mike Huckabee
Jun 19, 2015, 7:36 AM
|
|
instead of Rubio. He is the only guy pushing the Fair Tax:
Huckabee touts fair tax during Iowa stops
06.17.2015 Des Moines Register by: Kathy Bolten
- See more at: https://fairtax.org/articles/huckabee-touts-fair-tax-during-iowa-stops#sthash.211tqbOx.dpuf
Mike Huckabee was unapologetic Wednesday about the thousands of jobs that would be lost if the Internal Revenue Service was abolished and a so-called fair tax adopted in place of the current federal tax system.
Huckabee, who is vying for the Republican nomination for president, said there tends to be more concern about an estimated 82,000 IRS workers becoming unemployed than with the 5 million manufacturing jobs lost over the past several years.
The fair tax would be a catalyst to help restore those lost manufacturing jobs, he said.
Unemployed IRS workers "will be able to go to work in the private sector" if the fair tax is adopted, Huckabee said during a swing through southwest Iowa that included stops in Clarinda, Red Oak and Creston. "There will be lots of jobs popping up in the private sector that didn't exist before (if the Fair Tax becomes law). The good news is they'll be paying taxes on those wages."
Huckabee said he learned about the fair tax when he was in Iowa during his first campaign for president. During a visit to the state in 2007, someone gave him material about the fair tax, which he read on his trip home to Arkansas, he said. He liked the idea so much, he contacted economists and others to learn more about the idea, said Huckabee, who won the 2008 Iowa caucuses.
|
|
|
|
Hall of Famer [24757]
TigerPulse: 100%
Posts: 42479
Joined: 7/31/10
|
So where are the tax details... Seems very superficial.***
Jun 19, 2015, 8:16 AM
|
|
|
|
|
|
|
All-In [31888]
TigerPulse: 100%
Posts: 37176
Joined: 11/22/03
|
Do you mean the fair tax idea seems superficial?***
Jun 19, 2015, 8:20 AM
|
|
|
|
|
|
|
Oculus Spirit [78865]
TigerPulse: 100%
Posts: 26422
Joined: 12/6/98
|
how it works
Jun 19, 2015, 8:24 AM
[ in reply to So where are the tax details... Seems very superficial.*** ] |
|
https://fairtax.org/about/how-fairtax-works
How FAIRtax Works Your Money, Your Decision
The current federal income tax system is clearly broken — unfair, overly complex, and almost impossible for most Americans to understand. But there is a reasonable, nonpartisan alternative before Congress that is both fair and easy to understand. A system that allows you to keep your whole paycheck and only pay taxes on what you spend.
The FairTax is a national sales tax that treats every person equally and allows American businesses to thrive, while generating the same tax revenue as the current four-million-word-plus tax code. Under the FairTax, every person living in the United States pays a sales tax on purchases of new goods and services, excluding necessities due to the prebate. The FairTax rate after necessities is 23% compared to combining the 15% income tax bracket with the 7.65% of employee payroll taxes under the current system -- both of which will be eliminated!
Important to note: the FairTax is the only tax plan currently being proposed that includes the removal of the payroll tax.
Keep Your Paycheck
For the first time in recent history, American workers will get to keep every dime they earn; including what would have been paid in federal income taxes and payroll taxes. You will get an instant raise in your pay!
Social Security & Medicare Funding
Benefits will not change. The FairTax actually puts these programs on a more solid funding foundation. Instead of being funded by taxes on workers’ wages, which is a small pool, they’ll be funded by taxes on overall consumption by all residents. Learn More.
Get a Tax Refund in Advance on Purchases of Basic Necessities
The FairTax provides a progressive program called a prebate. This gives every legal resident household an “advance refund” at the beginning of each month so that purchases made up to the poverty level are tax-free. The prebate prevents an unfair burden on low-income families. Learn more.
Pay Tax on Only What You Spend
Be in control of your financial destiny. You alone can control your tax burden. If you’re thrifty, you’ll pay lower taxes than somebody who is not. Most importantly, you’ll be taxed fairly. Learn more about what is taxed.
Everyone Pays Their Fair Share
Tax evasion and the underground economy cost each taxpayer an additional $2,500 every year! But by taxing new products and services consumed, the FairTax puts everyone in the country at the same level at the cash register. Further, only legal residents are eligible for the prebate. Learn more.
The IRS is No Longer Needed
No more complicated tax forms, individual audits, or intrusive federal bureaucracy. Retailers will collect the FairTax just as they do now with state sales taxes. All money will be collected and remitted to the U.S. Treasury, and both the retailers and states will be paid a fee for their collection service. - See more at: https://fairtax.org/about/how-fairtax-works#sthash.6jsiLKUw.dpuf
|
|
|
|
|
All-In [34105]
TigerPulse: 100%
Posts: 33610
Joined: 9/13/99
|
It's a national sales tax.
Jun 19, 2015, 8:26 AM
[ in reply to So where are the tax details... Seems very superficial.*** ] |
|
There are many problems with the idea, but we don't have to worry about them because it's never going to replace the income tax. What may actually happen is that it supplements the income tax, like the VAT in England.
And thus the dream of simplification through tax reform will be replaced with the reality of greater complexity.
|
|
|
|
|
All-In [31888]
TigerPulse: 100%
Posts: 37176
Joined: 11/22/03
|
Never say never....
Jun 19, 2015, 8:30 AM
|
|
I never thought the ACA would have a chance of becoming law. Sadly, I was wrong.
I like the premise of the faritax.
|
|
|
|
|
All-In [34105]
TigerPulse: 100%
Posts: 33610
Joined: 9/13/99
|
Never.
Jun 19, 2015, 8:48 AM
|
|
Or, more accurately, never unless it's just one more level of complexity.
Unless you repeal the 16th amendment (which permits the federal income tax), the FairTax is doomed. Even if a national sales tax replaced the income tax, any Congress would be able to add back the income tax. And then you'd have both. Greater complexity would result. Tax lawyers would be the primary beneficiaries, along with our government which will have more ways to sneak in tax increases.
|
|
|
|
|
All-In [31888]
TigerPulse: 100%
Posts: 37176
Joined: 11/22/03
|
Repealing the 16th is the first step in the plan....
Jun 19, 2015, 9:13 AM
|
|
it is acknowledged that the fair tax cannot/should not exist as long as the 16th is in play.
|
|
|
|
|
All-In [34105]
TigerPulse: 100%
Posts: 33610
Joined: 9/13/99
|
I'm happy to take bets on that happening in the next 10 yrs.
Jun 19, 2015, 10:45 AM
|
|
I'll give 10-1 odds.
|
|
|
|
|
Ring of Honor [32958]
TigerPulse: 100%
Posts: 53106
Joined: 3/5/02
|
Hasn't happened in the past 20. If you want to lay off any
Jun 19, 2015, 10:53 AM
|
|
of the action you get on this bet, I'll happily take it.
|
|
|
|
|
All-In [31888]
TigerPulse: 100%
Posts: 37176
Joined: 11/22/03
|
No thanks...not in the current climate....
Jun 19, 2015, 11:37 AM
[ in reply to I'm happy to take bets on that happening in the next 10 yrs. ] |
|
but are we to only support ideas that have a chance of becoming laws in the current political climate. I don't think that's healthy for our democracy.
I think an honest discussion of the fair tax would be good for the country. Maybe it would lead to a more robust overhaul of the income tax system, etc...
Bottom line is I think it's a good idea and worthy of discussion.
|
|
|
|
|
Ring of Honor [32958]
TigerPulse: 100%
Posts: 53106
Joined: 3/5/02
|
An extra tax would suck to the extreme, but what a
Jun 19, 2015, 10:51 AM
[ in reply to It's a national sales tax. ] |
|
delicious irony.
|
|
|
|
|
Oculus Spirit [93661]
TigerPulse: 100%
Posts: 95412
Joined: 12/25/09
|
|
|
|
|
Hall of Famer [24757]
TigerPulse: 100%
Posts: 42479
Joined: 7/31/10
|
No tax on used... That would just about destroy certain
Jun 19, 2015, 9:02 AM
|
|
industries. Do they tax corporations for natural resources or just their customers?
|
|
|
|
|
All-In [31888]
TigerPulse: 100%
Posts: 37176
Joined: 11/22/03
|
perhaps you should read more on the subject...
Jun 19, 2015, 9:14 AM
|
|
there is a book
|
|
|
|
|
Hall of Famer [24757]
TigerPulse: 100%
Posts: 42479
Joined: 7/31/10
|
I read the link in the article he provided...***
Jun 19, 2015, 9:33 AM
|
|
|
|
|
|
|
All-In [31888]
TigerPulse: 100%
Posts: 37176
Joined: 11/22/03
|
umm ok...that's why I said you need to read the book....
Jun 19, 2015, 9:36 AM
|
|
if you want a complete explanation.
|
|
|
|
|
Hall of Famer [24757]
TigerPulse: 100%
Posts: 42479
Joined: 7/31/10
|
What I stated came from their website... Don't want the book***
Jun 19, 2015, 11:19 AM
|
|
|
|
|
|
|
All-In [31888]
TigerPulse: 100%
Posts: 37176
Joined: 11/22/03
|
If you aren't interested in researching something for....
Jun 19, 2015, 11:37 AM
|
|
yourself, then....
|
|
|
|
|
Orange Blooded [3921]
TigerPulse: 100%
Posts: 4631
Joined: 7/11/03
|
|
|
|
|
Rock Defender [53]
TigerPulse: 90%
Posts: 35
Joined: 11/30/98
|
Re: maybe I need to change my choice to Mike Huckabee
Jun 19, 2015, 11:30 AM
|
|
> "The fair tax would be a catalyst to help restore those lost manufacturing jobs, he said"
Those manufacturing jobs aren't coming back, in fact they will be reduced more and more as automation picks ups. We certainly need a policy change to help the now unemployed but I don't see how the fair tax law would help this?
|
|
|
|
|
All-In [31888]
TigerPulse: 100%
Posts: 37176
Joined: 11/22/03
|
automation is hardly the reason for...
Jun 19, 2015, 11:39 AM
|
|
the main loss of manufacturing jobs in this country.
They aren't being lost to automation, in general, they're being lost to countries that are cheaper to operate in...based on labor rates, building costs, energy costs, tax structures, etc...
|
|
|
|
|
Oculus Spirit [93661]
TigerPulse: 100%
Posts: 95412
Joined: 12/25/09
|
Mike and I know a flat tax will never happen.
Jun 19, 2015, 1:42 PM
|
|
I'd throw his ### right in there with all the others who run on rubber platforms, that's all politicians.
If it can't be done it's a lie to even suggest otherwise because the average voter has no clue what can and can't be passed.
|
|
|
|
|
Orange Blooded [3516]
TigerPulse: 94%
Posts: 4245
Joined: 12/5/06
|
Re: maybe I need to change my choice to Mike Huckabee
Jun 19, 2015, 3:10 PM
|
|
It sounds cool and all but I can't support a system where someone who is 'thrifty' pays less tax than me. Their kids go to public school, they depend on the same roads and infrastructure, etc. If a 'fair tax' were implemented, half the people on Tigernet would live off the grid, home school their kids, grow their own food, and generate their own power for their bunkers/compounds...in essence, they would all go back to living in 1804...which I guess is what most of those folks considered the 'golden age' of the US.
|
|
|
|
Replies: 23
| visibility 480
|
|
|