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Fair Tax is a joke. The simpson-bowles plan or other similar variations that get rid of the spending in the tax code and lower rates and broaden the base is a far better plan than the gimmicky Fair Tax.
Right, but at least it somewhat works. The Fair Tax is a joke and a gimmick. Economists almost all say that we should have as a broad of base as possible and keep rates low. Basically tax everything, but do it at low rates. Putting a huge 23% tax on consumption is just dumb.
The truth: More than 80% of all tax returns are eliminated under the FairTax--every individual filing. What remains are retail outlets collecting the FairTax. Of these, 80 percent of all retail sales now occur at large retail chains like Wal-Mart. The point is oversight will still reside under the Treasury Department but the government's responsibility will be over a far smaller "universe" of tax collection points making compliance oversight far less costly and far more effective than the current system which costs $265 billion a year in compliance costs and still comes up $350 billion a year short of what is owed.
Read more information about compliance in the FairTax white paper: FairTax Reduces Complexity, Compliance Costs and Noncompliance.
Right, but at least it somewhat works. The Fair Tax is a joke and a gimmick. Economists almost all say that we should have as a broad of base as possible and keep rates low. Basically tax everything, but do it at low rates. Putting a huge 23% tax on consumption is just dumb.
Why is it dumb? Is it also dumb for people to keep what they earn? Is it dumb topromote savings? Is it dumb for people to be able to pass down their savings/investments without the government taking 55%? Is it dumb to rid ourselves of the IRS which costs taxpayers hundreds of billions every year? Or, do you prefer the IRS as Obama's own SS brownshirts?
Part of Greece's problem is the citizenry's avoidance of charging and paying VAT.
VAT is charged across all layers of the manufacturing pipeline. The Fair tax is only charged at the storefront. It would be impossible for any legitimate businesses to avoid such a tax.
The Greeks, like Italians, are hopelessly corrupt also.
We desperately need to narrow the Tax Base not expand it. We need to eliminate all sales and property taxes and replace them with an All Sources income tax as well as a real and financial property tax on the top 10% of the people.
The result would be a great increase in all aspects of our economy from investment, as the owners were forced to invest their money instead of sitting on it in low yield accounts and the small investors had some money to invest, to consumption as the lower 90% had some money to spend.
VAT is charged across all layers of the manufacturing pipeline. The Fair tax is only charged at the storefront. It would be impossible for any legitimate businesses to avoid such a tax.
The Greeks, like Italians, are hopelessly corrupt also.
People will try. Syracuse lost a few good restaurants because the owners got caught screwing with their sales tax receipts. And that's with an 8% sales tax.
With a much larger national sales tax....err...I mean Fair Tax...added, the wave of businesses being closed by the Feds will be enough to cause a national recession.
Whenever you head "broaden the base" that's code word for cut taxes on the rich and increase taxes on the poor.
Yep, that menas people start paying for the services they use instead of having someone else do that...unless you think it is ok to ask your neighbor to pay the tab at the restaurant becasue they have a higher income
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