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Lets talk about the Fair Tax...


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#16 stirs

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Posted 22 January 2013 - 01:58 PM

Sadly, having something simple would mean less of a need for Congress and therefore, they would never allow it.

They buy votes now with their policies and spending and will never resort to a campaign of just philosophical issues where the voters have to engage and be informed.



#17 Kurb

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Posted 22 January 2013 - 02:04 PM

sorry about the formatting


http://economics.abo...y/a/fairtax.htm

e:just click the link instead



Some good points.


I disagree that lower incomes would suffer so greatly. Honestly it "SHOULD" promote smart spending and money saving more in that bracket of society. Being they could almost live for free, provided the prebate covers all food/medication needs. Obviously cars/homes/clothes would have a big part of the consumption tax, but again smart spending would help a ton here IMO.
I am a 100% a novice on this tho, so I could be assuming too much here.

One of my biggest issues is how the top earners will receive a large tax break. I think that is partially true.

1) Those with more money typically are smarter with money.

2) What is to stop the "rich" from just purchasing tax-able items outside the border?

Things like uber homes, beach homes, 30 cars, etc would still provide revenue, but I see a ton of loopholes where this could be over looked.

Never said FairTax was perfect, but in concept its a solid start.

#18 Kurb

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Posted 22 January 2013 - 02:05 PM

Sadly, having something simple would mean less of a need for Congress and therefore, they would never allow it.

They buy votes now with their policies and spending and will never resort to a campaign of just philosophical issues where the voters have to engage and be informed.



This is 100% the biggest obstacle.

It strips congress of a major power, cant have that! :(

#19 Darth Biscuit

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Posted 22 January 2013 - 02:08 PM

I just don't see how it would ever get passed barring some major calamity/economic/gov't collapse...

There's too much corruption in the current system and too many people and elected officials making money off the current system.

#20 mmmbeans

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Posted 22 January 2013 - 02:16 PM

From my understanding it is "revenue neutral" same amount of cash flows into the Government as before.

Such I find hard to believe. I know HOPE I for one would have a good bit more cash in pocket if a consumption tax was in place.



I don't understand how it can be an improvement in current tax structure (by conservative standards,) be revenue neutral and NOT shift the tax burden more onto the middle class. Looks like a "pick two" situation.

#21 mav1234

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Posted 22 January 2013 - 10:52 PM

I've heard pundits claim this would broaden the base. if so, it would shift tax burden, no?

#22 pstall

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Posted 22 January 2013 - 10:59 PM

i think we see term limits before we see a fair tax. man that sounds awesome. term limits. ahhh

#23 cookinwithgas

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Posted 22 January 2013 - 11:27 PM

Definition of "Fair Tax": where I pay less and someone else pays more.

#24 pstall

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Posted 22 January 2013 - 11:33 PM

i buy, you pay. i love that.

#25 Kevin Greene

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Posted 22 January 2013 - 11:58 PM

My concerns are similar.

For it to work, it can't be tinkered with.
First damn thing I see the .gov doing is allowing bigger "prebates" to certain groups to buy votes and adjusting the National Sales tax upwards.


The tax is applied to elective purchases.
Not medical care etc.
Once you buy it, you're done.
You cant write off that $2500 Ho and Crack bill as an entertainment work expense.

#26 GOOGLE RON PAUL

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Posted 23 January 2013 - 12:22 AM

http://www.cbsnews.c...in3241621.shtml

here's a thing about how the "fair"tax is regressive, a "logistical nightmare," deceptive (and not only because a name like "the fairtax" reeks of newspeak), and the product of scientologist tears

there are studies out there that debunk several of the claims of "fair"tax supporters (for example, as was already mentioned in this thread, how could it reduce the effective tax rate on the rich AND generate the same amount of revenue WITHOUT shifting the tax burden toward the poor and/or middle class?) but the last time i brought some of that libral book learnin into a thread about the "fair"tax i ended up having to read 3 pages of twylyght posts and i'd prefer to not have to do that again

#27 Delhommey

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Posted 23 January 2013 - 12:46 AM

As we move towards a post scarcity economy (which may just be pie in the sky), I would lean towards a basic guaranteed income with a flat tax, but we're not there yet.

The Fair tax makes me think of when we introduce foreign predators to take care of a pest situation only to have the predators become just as bad or worse of a problem than the original pests.


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