Tax Ideas Submitted by the Public

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Tax Ideas Submitted by the Public to PERAB.
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Oct 21, 2009
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whitehouse: Jan 07, 2010
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  • 5.0

    Also, I have to point out that the Fairtax is a scam

    Ah, the FAIRtax! Its only a 23% sales tax - except that it isn't. Its the equivalent of a 23% income tax - sort of - because income taxes are subtracted from total income whereas sales taxes are added to sales prices. Its actually a 30% sales tax. And that's 30% on all sales, not just retail. Sell your house - pay 30%. Sell your car - 30%. Sell your stocks - they needed to appreciate 30% for you to break even (remember we're talking 30% of sales price - its a transaction tax, not a VAT or capital gains tax). Of course exceptions could be made for any of these things, but that would just require the rate to go up for everything else. Whether or not this is a better model than the current system with its total marginal rates of 40+% for the upper middle class is debateable, but what isn't debateable is that the "FAIR" tax is not some "Everybody Wins!" free lunch like the fairtax cult would have you believe. A sales tax that high would create a huge incentive to save and a huge disincentive to buy stuff. Since most of our economy is driven by consumer spending, I have a hard time seeing how the results of that could be positive. Hey, I hate the income tax as much as anyone, but the revenue it brings in would be difficult to get in any other manner. If we want to reduce tax burdon in this country we need to do it the right way and stop the government from spending so much money it doesn't have.

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    xav8r

    You obviously have NOT studied the FairTax. Why don't you read the book before stating blatant lies about it?

  • I Recommend 273

    I'm going to highly recommend #273. The federal government needs to define what is considered taxable income for state income tax purposes. You can't leave it up to the states to do it themselves as they've proven they can't do it fairly or efficiently. There is far too much overlapping taxation and even though your state of residence will usually give you a (nonrefundable) credit against taxes paid to other states, this effectively forces you to pay the higher of the two rates and thus prevents the states from having to compete for residents by adjusting their income tax rates. This is mainly an issue for those living and working in multiple states but probably also comes up for people owning a business in a state they no longer live or work in amongst other scenarios. It is blatently unfair for a state to tax the income of a nonresident and deprive the state where that earner lives (and thus derives their services from) of that tax money to fund their services. It is blatently unfair for a resident of a low or no income tax state to have to pay income tax to a high income tax state and then pay the higher property and sales taxes in their resident state.

  • I was well treated.

    I can't receive my social security

  • The internet spies based out of hawaii new york chicago playing they a

    re the king of England with access to mindfucking a website witha simple blog. do me a favor. i used to be a tax payer. I cant send a little note to carley simon. Her web page a fortified castle. Do me a favor you geniouses, get this through for me.XXXY.Dracula Margentaugh In exquisite detail in Hawaii. You don't know me like I know me yuppy. I'll sit on it for 10'000 years. Try me. My shopping cart is full. Mindfucker; but nevertheless cognizant that under other circumstances you would be poor. Live long and be fruitful. George Bush is the man. He'll protect my desendants. Univalenteley yours, Dracula Margentaugh. P.S. confeightee superfluous I'm talking about real money. Yal spy theif youppies ignore evryone into their graves, I kneed to know..honalulu..

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