Good Documentary on the IRS and income Tax made by film producer Arron Russo
http://<a href="http://video.google....3867390173</a>
FOR
AGAINST
Good Documentary on the IRS and income Tax made by film producer Arron Russo
http://<a href="http://video.google....3867390173</a>
01' Mercedes C320 $10500 o.b.o. or trade 4 G35 coupe
http://www.importatlanta.com/forums/...9#post38098929
I'm not feeling the "Fair Tax" because to me the only people actually benefiting are people in the higher tax bracket. Take a college student working a part time job for an example. With the Fair Tax plan, they have to pay 23% on all of their groceries, books, computers, and all the other expenses that they are faced during the time they are in school. Cool, now they aren't paying federal taxes, but they were not paying much taxes to start with because they were not making enough. Tax for tax, they would end up loosing money if their spending habits didn't change. In addition, It seems like the Fair Tax plan would do more harm than good to the economy. Being taxed on what you spend would actually discourage many people from shopping. If people thought gas prices cause people to stop shopping, just imagine how people going to react when everything people purchase actually increases 1/4 the price due to sale taxes.
Just my
At least take the time to understand the plan before you start to spout negativities. The FairTax gets rid of corporate taxes, so stuff you buy in result would become much cheaper. And, once the FairTax is added back on, the item will be the same price as it was before with a possible difference of 2-4%.Originally Posted by bigdare23
I'm not feeling the "Fair Tax" because to me the only people actually benefiting are people in the higher tax bracket. Take a college student working a part time job for an example. With the Fair Tax plan, they have to pay 23% on all of their groceries, books, computers, and all the other expenses that they are faced during the time they are in school. Cool, now they aren't paying federal taxes, but they were not paying much taxes to start with because they were not making enough. Tax for tax, they would end up loosing money if their spending habits didn't change. In addition, It seems like the Fair Tax plan would do more harm than good to the economy. Being taxed on what you spend would actually discourage many people from shopping. If people thought gas prices cause people to stop shopping, just imagine how people going to react when everything people purchase actually increases 1/4 the price due to sale taxes.
Just my
It doesn't matter what tax bracket you're in, or how much money you're making, the FairTax will still help you.
Actually, that can't possibly be right. The FairTax is supposed to be revenue neutral, so if somebody is paying less in taxes, that means someone else is paying more. It can't help everyone or it wouldn't be feasable.
With the FairTax those decisions are left up to the individual people, not the government. Say some billionaire wants to buy a $30,000,000 yacht, well 23% or $6,900,000 is going to go to the government. So of course hes going to be paying more instead of the guy who just bought a $15,000 Civic and only paid $3450 in taxes. But it was his choice to do that. He wasn't forced to be taxed at 39% (highest tax bracket under Obama) regarddless of if he bought the yacht or not.
Obviously the billionaire would go buy the yacht in another country. To make up for things like this the government would either try to discourage international trade by raising import/export tariffs and regulations to the extreme (wait a second I thought the government was supposed to have less power under the Fairtax?), or raise the estimated 23% universal sales tax to a figure that is actually reasonable...
problem with this is, a millionaire spending 30 million on a yacht would obviously choose a company which has been building luxury yachts for years. for the price tag of 30 million, his choices are drastically narrowed. Granted he may find someone else in the world to build it, but the inconvenience of finding a provider of a luxury item such as that may deter him from going off shore. does that make sense? honestly it would probably be about as convenient as us buying an SUV from mexico to avoid paying gas guzzler tax.
You state that like it's a fact. That's the goal but that doesn't mean it's going to happen. Honestly, corporations don't have to lower the prices of their products because they're paying lower taxes. Keeping their current pricing with no taxes will yield a larger profit. I don't think I ever saw a company overlook a chance at higher profit. You know and I know this world is ran off of greed and at any chance a company has to make profit they will. I also call BS, on it helping "everyone" out.
(Why did you assume I haven't taken the time to research? I checked it out and I'm not feeling it. Because my opinion is different then your doesn't mean I didn't take the time to research the topic.)
I agree about companies wanting a larger profit. But for now this is a capitalistic country, and competition is abundant. So company A can make widget x for cheaper decides to lower their price to gain market share from company b who makes widget y. This in turn drives competition between the two companies and thus prices will lower. Simple economics.
Posting Permissions
Reply With Quote