Your description of the Fair Tax is incorrect. The Fair Tax has only one rate. It is a simple end user only sales tax. Only new goods and services are taxed. (After something is taxed once, it is never taxed again.) It has a built in "prebate" that effectively untaxes the poor and makes the whole thing progressive without defining income levels. It effectively ends class warfare via taxation.
The Fair Tax is the only option listed here that is truly fair. 9-9-9 was a nice idea as a springboard to get to the Fair Tax but it is unworkable and would, at best, delay getting to the ultimate goal.
For more information on the Fair Tax, just click on any of the Fair Tax links in this comment.
By the way, "No tax" is absolutely unrealistic. "Flat tax" just puts us back to where our current system started which was broken from its initial creation. Our current tax system cannot be fixed. It must be replaced. Fair Tax is the best answer. It is the only fair answer.
TAX REFORM: Flat tax, FAIR tax, or NO TAX??!!
BlueRepublican
2012/06/15 16:35:18
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There is a growing concensus from the American people that we need TAX REFORM. Our current system needs to be updated to reflect the real conditions that we live in.
Factors like inflation, wages, and cost of living need to be better assessed.
I believe that the poverty line, for much of the working class, is higher than where it is currently set. I have met many who are living paycheck to paycheck and struggling, but would not qualify for assistance because they were just over the "poverty line"
The flat tax has been touted as a solution for a long time. While some criticize it as regressive, it does achieve the goal of treating everyone equally. In my view, it encourages upward mobility by design because as you make more money, you will not be penalized with a higher tax bracket. Everyone rich and poor is treated equally. Everyone pays the same rate.
The Fair tax, advocated by Libertarian Presidential candidate Gary Johnson, is another option that has surfaced as an alternative to the standard flat tax. It is simply 2 tax rates of 10% under 1 million and 25% after that. Certainly something to consider as a system of compromise between what we currently have and the reforms that we need.
Others say we should not pay ANY Federal taxes at ALL! They argue the Constitutionality of many of the taxes we currently pay and seek a state-level alternative solution. We could also do away with the IRS :-)
We all agree that we need to do something about the National debt. This means cutting govt spending as well as generating revenue to pay down the debt. Closing loopholes, decreasing/eliminating certain subsidies and reforming the tax code will allow for a more equal tax distribution.
But Blue, what about the very poor? What if they can't afford the tax? Then I say, lower the tax rate some more. In order for America to continue being the land of opportunity we need to become competitive in the global market. There are many countries where citizens do NOT pay income tax from their paycheck. Others where investments like 401k's, capital gains and interest-bearing accounts aren't taxed at ALL!!!
Let's attract business here. Let's reform the tax code. Let's get Americans back to work. Let's tell the govt to get their hands OFF our paychecks. Let's fix this.
TAX REFORM: Flat tax, FAIR tax, or NO TAX??!!
Factors like inflation, wages, and cost of living need to be better assessed.
I believe that the poverty line, for much of the working class, is higher than where it is currently set. I have met many who are living paycheck to paycheck and struggling, but would not qualify for assistance because they were just over the "poverty line"
The flat tax has been touted as a solution for a long time. While some criticize it as regressive, it does achieve the goal of treating everyone equally. In my view, it encourages upward mobility by design because as you make more money, you will not be penalized with a higher tax bracket. Everyone rich and poor is treated equally. Everyone pays the same rate.
The Fair tax, advocated by Libertarian Presidential candidate Gary Johnson, is another option that has surfaced as an alternative to the standard flat tax. It is simply 2 tax rates of 10% under 1 million and 25% after that. Certainly something to consider as a system of compromise between what we currently have and the reforms that we need.
Others say we should not pay ANY Federal taxes at ALL! They argue the Constitutionality of many of the taxes we currently pay and seek a state-level alternative solution. We could also do away with the IRS :-)
We all agree that we need to do something about the National debt. This means cutting govt spending as well as generating revenue to pay down the debt. Closing loopholes, decreasing/eliminating certain subsidies and reforming the tax code will allow for a more equal tax distribution.
But Blue, what about the very poor? What if they can't afford the tax? Then I say, lower the tax rate some more. In order for America to continue being the land of opportunity we need to become competitive in the global market. There are many countries where citizens do NOT pay income tax from their paycheck. Others where investments like 401k's, capital gains and interest-bearing accounts aren't taxed at ALL!!!
Let's attract business here. Let's reform the tax code. Let's get Americans back to work. Let's tell the govt to get their hands OFF our paychecks. Let's fix this.
TAX REFORM: Flat tax, FAIR tax, or NO TAX??!!
Top Opinion
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Marcus Clark 2012/06/16 20:23:54
Tax consumption instead of production would encourage savings and investment, as well an simplify
It also removes the costs of compliance with the convoluted tax code we now have which in a non-productive manner costs our economy over $400 billion each year.
The lower earning households in the U.S. are protected from what would be a very regressive sales tax by a provision called the prebate. This is a refund of all taxes that would be paid on goods and services up to the Federal poverty level.
The FairTax would result in over half of the lobbyists in Washington having no reason to buy favors from our Representatives. In short it would return power to the people of the U.S.
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Is it fair that Illegals live in our country and use our resources w/o paying federal taxes? NO!
Is it fair that tourists use our resources and not pay a penny of federal tax? NO!
Is it fair that politicians pick winners and losers on our "tax dime"? NO!
Is it fair that 47% of Americans avoid or otherwise evade taxes annually? NO!
Is it fair that one person be taxed at a different rate than the other? NO!
Is it fair that we loan the gov't money without a penny of interest in return? NO!
HERE'S YOUR WAKE-UP CALL: THE FAIR TAX WILL FIX ALL THAT. So stop dickering and bickering and learn about the FairTax NOW before it's too late!!
Before you answer that. I will tell you: Not a single one of those groups will EVER pay Federal Income Taxes....because they don't report their income. The FairTax, however, will collect their taxes, because they have to buy stuff to survive.
So, tell me again, HOW is it that "everyone pays their fair share" with a flat income tax?
The Fair Tax is the only option listed here that is truly fair. 9-9-9 was a nice idea as a springboard to get to the Fair Tax but it is unworkable and would, at best, delay getting to the ultimate goal.
For more information on the Fair Tax, just click on any of the Fair Tax links in this comment.
By the way, "No tax" is absolutely unrealistic. "Flat tax" just puts us back to where our current system started which was broken from its initial creation. Our current tax system cannot be fixed. It must be replaced. Fair Tax is the best answer. It is the only fair answer.
What we need is a NEW system that doesn't punish productivity and actually promotes savings and investment. Could you imagine what the US would be like if we ALL had the money to invest in other Countries? The possibilities would be endless!!
There is no doubt we need tax reform.
"Everyone" includes the following: ALL Legal US Citizens, Illegal Immigrants, Tourists, Drug Dealers, Prostitutes, Pimps, Gun Runners, smugglers (of both humans and product), and a plethora of other groups living in the US who otherwise avoid or evade paying Federal Income Taxes.
Now, of those groups listed above, how many would ACTUALLY pay income taxes? ALL Legal US Citizens. That's it. And really only 47% of them pay. So what about the rest? A flat tax wouldn't collect their money.
But the FairTax WILL!! The FairTax will collect their tax money when they purchase the goods/services they need in order to survive here. Therefore, WE ALL PAY OUR FAIR SHARE WITH THE FAIR TAX.
A flat tax for personal income, with deductions limited to education. Tax rate = 20%.
A flat tax for business entities (profits only) with no deductions. Tax tate = 40%.
If you are looking for the MOST FAIR tax system, look no further than the FairTax. See, it's already built into the name.
The FairTax will collect taxes from EVERYONE in the US regardless of Age, race, gender, sexual preference, Nationality, or Legality. Simple, transparent, Fair!! Understand it and you will demand it!
Personhoods or Corporations 48%