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Fair tax


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#1 scpanther22

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Posted 15 April 2009 - 11:04 AM

so what do you all think about it..they are haveing a meeting here in SC to talk about it..it would get rid of the IRS

#2 g5jamz

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Posted 15 April 2009 - 11:06 AM

Nice thought. Will not happen in our lifetime.

#3 cookinwithgas

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Posted 15 April 2009 - 11:11 AM

In my experience "fair tax" means "I pay less and someone else pays more". If you pay more, then it's an "unfair tax".

#4 natty

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Posted 15 April 2009 - 11:41 AM

In my experience "fair tax" means "I pay less and someone else pays more". If you pay more, then it's an "unfair tax".


I don't understand how you can see it like that. I see it as simply taxing consumption, not income. I think it'd help a lot of the underlying problems that created this credit crisis. It would encourage saving and smart spending, but it makes too much sense to ever be implemented.

#5 Matt Foley

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Posted 15 April 2009 - 11:45 AM

For 90 percent of the people making less than 25,000 a year, retirement plan consists of five bucks spent on lottery tickets every week.

#6 mmmbeans

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Posted 15 April 2009 - 12:00 PM

For 90 percent of the people making less than 25,000 a year, retirement plan consists of five bucks spent on lottery tickets every week.


link?

or are you speaking personally?

#7 Matt Foley

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Posted 15 April 2009 - 12:01 PM

link?

or are you speaking personally?


Rodeo's making up one of his charts as we speak

#8 Darth Biscuit

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Posted 15 April 2009 - 12:02 PM

I don't see how you can call anything "fair" unless it's everyone pays the same percentage... Cant' get any more fair than that.

Otherwise, I like the sales tax vs. income tax...

#9 cookinwithgas

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Posted 15 April 2009 - 12:13 PM

The issue is that the poor spend almost all of their income on things that would be taxed, while the rich invest and hide away their money. Thus, it can be argued that a sales tax disproportionately favors the rich. You can see an indirect proof of this by the fact that more conservatives favor this method, as it "makes the freeloaders pay their share" in their minds.

There are pluses and minuses to every approach, and the one we have now is likely to be the one we continue with, as changing it would be a pretty futile effort. I think that a different taxation method would not be inherently wrong, but if we can't correct the tax codes we have had for this long, think of all the new loopholes that would be created by government totally revamping the system we have now.

Nice thought in theory, but like I said, it's more of an effort by people who think they pay more than they should to pay less than an attempt at "making things simple and fair".

#10 Jase

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Posted 15 April 2009 - 12:16 PM

http://finance.yahoo...n&asset=&ccode=

#11 rodeo

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Posted 15 April 2009 - 12:16 PM

Rodeo's making up one of his charts as we speak



Posted Image

#12 Panthro

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Posted 15 April 2009 - 12:18 PM

Hmmm get ourselves out of an economic hole by taxing consumption....

Bwhahahahahaahhahaahaha

#13 Fiz

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Posted 15 April 2009 - 12:18 PM

The issue is that the poor spend almost all of their income on things that would be taxed, while the rich invest and hide away their money. Thus, it can be argued that a sales tax disproportionately favors the rich. You can see an indirect proof of this by the fact that more conservatives favor this method, as it "makes the freeloaders pay their share" in their minds.


mmmmmhm

#14 Matt Foley

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Posted 15 April 2009 - 12:19 PM

Posted Image


Link?

#15 rodeo

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Posted 15 April 2009 - 12:20 PM

what about with prebates for lower income?


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