| Author | Message | ||
     Swordsman |
So, is there ANYONE out there promoting the Fair Tax? Other than the public, I mean? Glitch, Obama probably doesn't support it because the lobbyists already have him in their pocket. ~SM (Message edited by Swordsman on October 20, 2008) | ||
| Chellem |
Well, if *I* enjoyed buying big-ticket items, and *I* knew that this would cost me money, then *I* wouldn't like it either. But, if stats thrown recklessly around the BadWeb are to be believed, 95% of the people in the country should be happy. You'd think that'd be enough to get the legislation through. Of course, on the other end of the spectrum, those paying no taxes now because they don't earn anything would have to start paying taxes. So maybe they wouldn't be happy either? I don't know. I'm at work so I haven't gotten to fully explore that web site. I will be later though! I truly didn't know this was a whole movement! At least, I didn't know it had a name. Shows how much *I* get out. ->ChelleM | ||
| Glitch |
I didn't know it was partisan. It's not partisan. It's fair. Liberal by definition, not by political affiliation. Is any rich politician pro-fair-tax? Here's the score card: http://www.fairtax.org/cgi-bin/scorecard.cgi Libertarians, perhaps? Yes they love it. So, is there ANYONE out there promoting the Fair Tax? Huckabee ran on the Fair Tax platform. Also take a look at the scorecard. Neil Boortz http://boortz.com got me interested in it, and I've been pushing it for several years now. This year has been the closest we've come to getting the word out. We had a rally here in Lawrenceville and filled the Gwinnett Arena and had to stop people from coming in it got so big. Also Herman Cain is also a big supporter. http://www.hermancain.com/ | ||
| Ft_bstrd |
Don't underestimate the Attorney, CPA, and Insurance lobby with regard to changing the tax system. Overnight, the largest accounting firms would be cut by more than half, entire industries of tax attorneys and estate attorneys would be out of business tomorrow. The insurance lobby also works to keep the status quo. There is also an internal limitation whereby the Treasury Department and Internal Revenue Service are both working to maintain their usefulness in the grand scheme. Were the tax code simplified, there would be less "mass" for the head of the IRS to govern. I agree a simplified tax system would be preferable, but don't think anyone is willing to pick up and run with that ball given the defensemen guarding the goal line. | ||
| Ratyson |
What I don't understand is why Obama isn't for Fair Tax, That is very easy to explain; Fair Tax removes the ability to practice class warfare... I.E.; "Look at those mean nasty rich people over there... LET'S TAX THEM MORE!! It's only fair right?" It also removes a great amount of power from the hands of the politicians, regardless of party line. There are probably just as many Republicans who wont support it as there are Democrats. It just takes too much control away from the fed, and puts it into the hands of the populous and the states. I am in 100% support of the fair tax. But you have to watch out for the politicians who claim they are too... Some of them claim to support it, in a changed state. I don't recall who it was, but there was one politician who wanted to pass the fair tax laws IN ADDITION to our income tax laws. Basically they wanted to put a 23% sales tax on everything, along with keeping the same income tax rates. Now, this really isn't the fair tax, but this person claimed to be in support of the fair tax. I will have to see if I can find who that was.} | ||
| Glitch |
Russ you're right. I was only going by what he has to say in public. He'll never be truly honest, he's a politician after all. They're all liars! | ||
| Ferris_von_bueller |
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| Spatten1 |
What I don't understand is why Obama isn't for Fair Tax, I'd add lobbyist for the groups Fat Bastard named too. Anybody remember Bush pushing for $15k a year per person to be allowed to be contributed in tax deferred accounts for retirement or education or home purchase? The plan was around for a couple of weeks before the insurance lobby killed it. It would have ruined their annuity business. | ||
| Spatten1 |
Also-- try to tell the American public that they are going to lose their homeowner interest write-off and see how that goes over. | ||
| Glitch |
Also-- try to tell the American public that they are going to lose their homeowner interest write-off and see how that goes over. Try to educate them that they're coming out ahead with the fair tax. You don't lose anything except the income tax and the IRS. You get to keep all your money. Getting a refund goes away, because you get to keep your money. | ||
| Chellem |
Also-- try to tell the American public that they are going to lose their homeowner interest write-off and see how that goes over. I know people can spin things any way they want, but jeez, if someone said, well, you'll loose your homeowner interest deduction, but that's only because you can keep ALL your paycheck, so you don't need to itemize, because you won't be doing your taxes, because you DON'T HAVE ANY TAX LIABILITY TO DEDUCT IT FROM, well, I think that'd be OK with me! ->ChelleM | ||
| Ferris_von_bueller |
I would lose money under a flat tax. I've already done the math. | ||
| Ft_bstrd |
ALL that you need to tell them is that Fair Tax abolishes the IRS and tax filings every April, and Joe Lunchbucket is on board. | ||
| Glitch |
The Fair Tax is not flat tax | ||
| Ft_bstrd |
I would lose money under a flat tax. I've already done the math. I would lose a little, but I would save a lot in time and preparation. Wouldn't it be nice, as a business owner, not to have to live under the threat of the dreaded IRS audit? | ||
| Spatten1 |
Ferris, there are generally exemptions for food, shelter, and other necessities in a Fair-Tax system proposal. It is actually thought out pretty well, and not a flat tax that would be regressive on lower income families. You will not get rebates after not paying taxes, which might make it unpopular. | ||
| Glitch |
Spin it anyway they want is correct. US Senator Saxby Chambliss is having his good name run through the mud over the Fair Tax he supports. The opposition is running adds saying "He's going to raise your taxes on everything by 23%!!!" Of course they leave out the fact that it's not raising taxes and all other taxes will be abolished. Ignorance is not bliss. | ||
| Spatten1 |
How about the tens or hundreds of thousands of people employed due to our complicated tax system actually doing something productive for society. That is a benefit to us all. | ||
| Glitch |
You will not get rebates after not paying taxes, which might make it unpopular. You'd get a pre-bate every month. EVERYONE would! Go on read the Fair Tax site. I dare ya! | ||
| Spatten1 |
I would be so happy not to spend a whole day on Turbo Tax and asking my wife to find shit for me every spring. | ||
| Spatten1 |
Scooter trash arguing about taxes. Never thought I'd see the day. | ||
| Ft_bstrd |
Half the people who buy Harleys are Accountants and Attorneys. Just seems right that we would pick up a few tips while waiting for our bikes in the service department.  | ||
| Bigdaddy |
Wouldn't it be nice, as a business owner, not to have to live under the threat of the dreaded IRS audit? ^^ understatement of the day  Fooling with the IRS is a fools errand. I learned it the hard way. | ||
| Ferris_von_bueller |
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| Teddagreek |
Fair Tax is different than a flat tax... Just wondering if it would work.. I know Ron Paul is very against "just a flat Tax" Iceland has a Flat Tax type system and their Government is Bankrupt.. | ||
| Corporatemonkey |
Don't underestimate the Attorney, CPA, and Insurance lobby with regard to changing the tax system. Overnight, the largest accounting firms would be cut by more than half, entire industries of tax attorneys and estate attorneys would be out of business tomorrow. The insurance lobby also works to keep the status quo. For once I completely agree with you. For the record FTB, that vast number of businesses that earn over $150k (profit) a year are full corporations, not S-Corps. As soon as a business owner talks to a attorney about liability an s-corp goes out the window. When I set up my corporation that was my first question, how liable am I. Being in software I found errors and omission insurance to be cost prohibited. Being that my business partner is of personal means, necessitated us protecting our (his) liability risk. If I get sued, I can walk away from the company if necessary. Court you mentioned you wife's boss paying 7 million to the IRS last year. Did he claim this as a hedge fund manager, or as real income? | ||
| Odinbueller |
You can set up as an LLC and operate as an S-Corp for taxes. That's what a lot of folks do to limit liability and still get taxed as an s-corp. But all that would be silly conversation under the Fair Tax. There are other hidden benefits. The price of everyday items SHOULD go down, as the producers would not have to pay tax on their income (less expense), or match anything for their employees (less expense), and then the distributors and/or retailers would not have to pay tax or employee tax to operate (more less expense), and so forth. Payroll taxes tack on, what, another 10-15% to what each employee costs a company? Think about how many employees at, say, Harley-Davidson who would be getting to keep ALL of their paychecks, with Harley also getting to keep some of what they used to have to pay! And no corporate tax? It would take a while for the market to adjust, I'd say, but as soon as one company lowered their prices accordingly, most would prob. follow suit - AND still be more profitable! I feel bad for all those poor, unemployeed IRS men. Really I do. I'm definitely for this. WAAAAY for it. In hindsight, I always saw the "fair tax" bit on the Libertarian site, but I didn't know it was a specific plan, I thought they just wanted, ya know, fair taxes. Wonder how many other dorks like me are out there? More explaining might be necessary for us goobers. ->ChelleM | ||
| Chellem |
Woops. Cookie error again. THAT WAS CHELLEM!! | ||
| Old_man |
Now we have socialism for the rich - capitalism for the poor. | ||
| Ft_bstrd |
that vast number of businesses that earn over $150k (profit) a year are full corporations, not S-Corps. What is your source for this stat? I'm interested. This is not what I have read. I would say that the majority of NEW businesses are LLCs or S-Corps. These didn't come into vogue until the 70's and 80's. |
