The fair tax plan does not stand a snow balls chance in hell of
passing.
First to have a bit more crediablity, the tax should be like
the state and local sales taxes added on at the point of sale which
means it would appear higher than 23% although it would be the same
amount of money. An 23% inclusive sales tax for a 100 dollar item
would be a 77 dollar item with the tax not shown to the customer but
showing the same amount to the customer would take slightly over a
29.8% sales tax, add that to my state and local sales tax on non
grocery items of 9.5% and I would pay over 39.3%, over 38.3% for
food at the local Piggly Wiggly, and that is if it would not take a
bigger percentage to keeping the revenue neutral aspects of the plan,
some economist and others such as Bruce Barlett says it will take
more, some are saying at least 26% which would mean that it would be
35% if added upon purchase and my local purchases at the Piggly
Wiggly would have a 43.5% sales tax, I and my county neighbors would
go threough the supermarket thinking we were buying 100 dollars in
groceries then getting up to the cashier and having to shell out
143.50. Replace all taxes with a single retail sales tax and it would
be well over 50%. Having the tax embedded takes away the major
benefit of a sales tax, that is having the tax in your face, at 30%
to 40% it will be in peoples face, have it collected locally and you
are going to have a lot of angry people attending the county or town
meetings.
It is also a joke to say the Fair tax Plan will end tax
evasion, yeah Piggly Wiggly and WAlmart aren't going to cheat, but
get real, with a reduction in price of anywhere from 15% to 42% there
will be a lot of people selling a lot of other people stuff without
collecting the tax. Since used stuff will not be taxed, there will
be a lot of " used items". Not that i'm complaing about tax evaders
they help make this a great country, a lot of our founding fathers
were tax evaders and smugglers and I don't have their
guts.
Unless the 16th amendment is repealed before the plan goes into
effect, we soon will have both a national sales tax and a income
tax.
Na, for an appeal that goes beyond political wonks and even
libertarians Ron Paul clearly has the better idea dump the personal
income tax because it clearly is not needed, that would be a far
easier sale than a 23% or 30% national sales
tax.
--- In [email protected], investorshelper
<[EMAIL PROTECTED]> wrote:
>
>
> An important analysis of the FairTax (from the Left):
>
>
http://www.runningincircles.com/archive/2005/05/06/the_progressive_dem
ocrats_sale
>
> Completely concur. We have the opportunity to use this issue as an
> Election 2006 Lead Issue, and turn "tax and spend" label on its head
> -if we can get first pull it out of the sand.
>
> -Ian
>
> ----
>
> PS For a another nice overview of the FairTax, see:
> http://www.investing-news.com/artman/publish/article_1195.shtml
>
ForumWebSiteAt http://groups.yahoo.com/group/Libertarian
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/Libertarian/
<*> To unsubscribe from this group, send an email to:
[EMAIL PROTECTED]
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
