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Tax Day Special from INGBA!


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#1 ItsNotGonnaBeAlright

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Posted 14 April 2010 - 08:32 PM

To all my friends and neighbors, which includes you fine folks, I offer this as a gift on April 15th.

If you are interested, I will send you a free audio copy of "The Fair Tax Book" and "Fair Tax: The Truth".

I am not associated with Neal Boortz, John Linder, or the publishing companies of the books. I'm just a dedicated supporter of the idea and love to spread the gospel. But, I'll be sure to keep track of the number I give away, and for every copy of each book I hand out I will take the current retail cost out of my own pocket and donate it to a local orphanage. I'll also be sure to save out an additional ammount equal to the retail costs in case anyone important comes looking for their money.

PM me for more if you're interested. Like I said, free and clear, you get the books. Coupled with the original legislation of H.R. 25, you'll have everything you need to know about what I consider the most effective and ultimately better alternative to the current United States federal tax code.

Be warned, though, they are books about taxes and they do read like stereo instructions.

#2 Happy Panther

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Posted 14 April 2010 - 10:09 PM

This is an audio copy? Can't do it.

But if you are that passionate I will order my own hard copy.

#3 Jase

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Posted 14 April 2010 - 10:19 PM

Sweet, fair tax will go GREAT with the current income tax system. Double the revenues! Spend spend spend!!!!!1 nom nom nom nom

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#4 Kurb

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Posted 14 April 2010 - 10:33 PM

The idea is to disolve the current tax system and replace with fair tax.
But you knew that already and just wanted to use that awesome pic.

#5 Jase

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Posted 14 April 2010 - 10:37 PM

Yeah. I was thinking about the chatter about VAT coming soon that we talked about last week.

#6 Khyber53

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Posted 15 April 2010 - 06:33 AM

I'd much rather see a flat tax.

#7 StepandFetch

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Posted 15 April 2010 - 07:52 AM

I'd much rather see Neal Boortz locked in a dark room somewhere.

#8 Khyber53

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Posted 15 April 2010 - 04:45 PM

The fair tax shifts the tax burden to the middle class who traditionally spend the highest percentage of their income. Not to mention the 6 months national economic collapse as prices soar during the span of time while inventory surpluses with embedded taxes are sold off before new, no embedded tax products can be sold.

It's a perfect tax plan for someone in their late 50s, early 60s who has already made it, has no kids to feed and has the time or wherewithal to send expense reports each month to the federal government for their fair tax rebate check.

Flat tax it. Everyone pays the same percentage of their income and we go about legislating that the government must live within our means.

#9 venom

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Posted 15 April 2010 - 04:54 PM

horray for the day of enslavement, 97 years and running! oh wait, but paying taxes is patriotic :)

#10 ChucktownK

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Posted 15 April 2010 - 04:59 PM

It's tithing to the Godvernment...

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#11 pstall

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Posted 15 April 2010 - 06:47 PM

I'm iffy on a flat tax. But, I do like revenues from LOWER taxes. So with that in mind somehow someway a wise study needs to be done to be able to project revenue lost or gained.

#12 ItsNotGonnaBeAlright

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Posted 15 April 2010 - 07:25 PM

The fair tax shifts the tax burden to the middle class who traditionally spend the highest percentage of their income. Not to mention the 6 months national economic collapse as prices soar during the span of time while inventory surpluses with embedded taxes are sold off before new, no embedded tax products can be sold.

It's a perfect tax plan for someone in their late 50s, early 60s who has already made it, has no kids to feed and has the time or wherewithal to send expense reports each month to the federal government for their fair tax rebate check.

Flat tax it. Everyone pays the same percentage of their income and we go about legislating that the government must live within our means.


First, the idea of percentage of income shifting the tax burden doesn't hold up. For conversation sake lets say that a person making $1,000,000 a year spends 10% of their income in a year while a person who makes $20,000 a year spends 90% of their income in a year. That equals out to $100,000 and $18,000 spent respectively, of which $23,000 and $4140 is fair tax.

Conversely, a 12% flat tax on income yeilds a taxation of $120,000 and $2400 respectively in flat tax. Wow, sounds great right? No, because under the fair tax, each person takes home exactly what they made and spent exactly what they wanted. Meanwhile, under our flat tax scenario, the rich guy takes home $120,000 less while the middle class guy goes home with $400 short of what he spent in a year under the fair tax without the benefits of lower overall taxation under the fair tax.

It's a bit more complicated than that, I know, but do you see the problem in principle?

As for that economic collapse, you do realise that all currently inventoried items when the fair tax is enacted are exempted from being sold with the sales tax? What happens after that, you say? Why would those new products lower in price? Well, there's no gaurantee that they would, that's true. But I know of thousands of businessmen who are begging to have the chance to be the first to lower their prices by 20% on their competitors.

Also, expense reports have nothing to do with you sending any info to the federal government and everything to do with an already calculated poverty level.

Edited by ItsNotGonnaBeAlright, 15 April 2010 - 08:09 PM.


#13 ItsNotGonnaBeAlright

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Posted 15 April 2010 - 07:44 PM

Addendum: That $2400 versus $4140 figure looks sexy for the middle class guy, but it still doesn't address the issue of embedded taxes. Follow me here, and lets say that embedded taxes fall from the current estimates of 22% to around 10% of a final sales price.

Our middle class hero took home $17,600 after the flat tax is subtracted. Then, again, he spend 90% of his income through the year, about $15,840. Embedded taxes from that $15,840 dollars spent would be, at even a 10% estimate, $1,584. Added to the income tax he spent, he got away with spending a total of $3,984. A full $156 less than the fair tax.

But wait...

Under the fair tax, he managed to save $2,000 of his original $20,000 income. Under the flat tax, he saved $1760. So he saved $156 to lose $240 in possible savings.


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