What is wrong with honest drug dealers and moonshiners not paying taxes, they are in a risky business because of government abuse, they can get more time than a murderer which on average gets 7 years. THe fair tax plan passes and there will be millions of other honest hard working Americans not paying taxes, actually that is a good point of the plan. Na Walmart and Lowes aint going to not charge the tax but there will be a lot of small and micro businesses that will be willing to cut their price by 20% to 40% by not charging the sales tax.--- In [email protected], "investorshelper" <[EMAIL PROTECTED]> wrote: > > Hey Terry, > > Thanks for the reply. Your assertion that FairTax has no chance of > passing is a meaningless statement you have no conditional > statement. At this writing, something like 54 federal legislators > have already co-sponsored the FairTax bill HR 25 / S 25 (check > http://tinyurl.com/7lssy ). This is no small feat, when you consider > that Forbes's "Flat Tax" didn't even get 10% that many. If people > become educated about the FairTax, its features and benefits (see > below), and agree that it makes sense, grassroots will grow, activism > will grow, and change will occur. > > Credibility is apparent, because every retail receipt would show the > FairTax. That's a BIG part of the plan. So, taxpayers KNOW what > their government - and its spending - is costing them. So, every > Piggly Wiggly supermarket receipt will show that 23% of the bill is > FairTax. NO attempt to HIDE anything. > > Clearly, the 23% is a comparative basis to income tax rate > quotations. Legitimate residents of the US - entitled to receive the > monthly family allowance advance tax reimbursement check will NEVER > pay the full 23% consumption rate (or 29.9%, if you show it as a true > sales tax, same difference). > > FairTax rates for those making (per this video > http://snipurl.com/ImagineFTVideo ) in 2004 dollars: > > $25,000 = -0-% tax > $35,000 = 7.9% tax > $50,000 = 13.0% tax > $100,000 = 18.3% tax > $500,000 = 22.1% tax > > FairTax is the only tax reform plan that will effectively UNTAX the > poor and low-income. (Only visitors and illegals will pay the entire > 23% portion of prices. FairTax also ensures that drug dealers, and > others who procure illicit income, will become tax payers). > > Let's take a look at how much the even the low-paid wage-earner is > paying NOW: > > 1st) FICA 7.65% - hits all wages from $0 - $90,000 > (rich avoid this when they receive money in dividends) > > 2nd) "Hidden Tax" in higher prices 22% > (avg among all goods/services) - cost of giving Politicians "straw > men" to tax, so they can tell constituents, "Oh, we'll tax those > rich, evil businesses, instead of you." As Alan Greenspan noted > before a congressional committee (Google it): "it is people, and > *not* businesses, who pay taxes." (paraphrased) > > 3rd) Min. income tax rate 10% > > Add them together, and you realize that almost > > **** 40% of every dollar ****! > > is gobbled up by the IRS. > > It costs Americans $250-500 billion every year to comply with the > current federal income tax code ($350 bil for actual compliance, and > $150 for time spent in planning tax avoidance - primarily available > only to the well-off). This waste in paperwork and tax planning is > equal to $850-1,700 each year for every man, woman and child in the > U.S. The FairTax will provide a more stable tax base and raise the > same amount of revenue. The cost to comply with FairTax? > > Only about $12 billion annually. > > (That's for the whole system - heck, right now, it costs $10 billion > just to run the IRS!) > > or only $50 for every man, woman and child. > > Not only is the current 45,000 page tax code wasteful of our money > and time, it is too complicated to understand. An average of 22% of > the cost of every good and service produced in the U.S. is the hidden > cost of federal business income and payroll taxes. This hidden tax > puts Americans at a 22% disadvantage when competing here or abroad > with foreign produced goods and services. A Harvard study shows, > after the sales tax replaces the current tax code, prices will > decline by this ~22% and result in companies and jobs returning to > the U.S. (read: "tax haven" for biz; off-shore returns home; foreign > companies set up shop here; btw this is the only way that prices will > fall under FairTax: competition) > > You, and Bruce Bartlett, are playing fast and loose with tax rates. > A rebuttal to Bartlett should be read here: > http://snipurl.com/FTBartlettRebut > > No one said that FairTax will solve tax evasion, there will simply be > less opportunity for tax evasion to occur because fully 90% of > returns (1040's) will be GONE. Only businesses will file the > FairTaxes collected and buyer and vendor will have to conspire to > defraud - less likely with "big box" national retailers. Enforcement > will shift to local (states). IRS is gone - with its huge wasteful > computer systems (search gao.gov for their reports to congress). > > As far as the 16th Amendment is concerned, the FairTax bill > disengages operational authority. Thus rendering it as un-usable. > The Amendment, itself, will need to be repealed among the states. > > The main thing is to communicate the FairTax, and its goals, > features, benefits, and to get behind the effort. I concur with the > the following delineation of benefits from the FILES of > [MIFairTax_Districts] Yahoo group: > > By taxing consumption, rather than income: > > FOR INDIVIDUALS: > * No more tax on income - make as much as you wish. > * You receive your full paycheck - no more deductions. > * You pay the tax when you buy "at retail" - not "used." > * No more double taxation (e.g. like on current Capital Gains). > * Reduction of "pre-FairTaxed" retail prices by 20%-30%. > * Adding back 29.9% FairTax maintains current price levels. > * FairTax would constitute 23% portion of new prices. > * Every household receives a monthly check, or "pre-bate." > * Pre-bate equals payback for taxes on spending to poverty level. > * FairTax's pre-bate ensures progressivity, poverty protection. > * Finally, citizens are knowledgeable of what their tax IS. > * Elimination of "parasitic" Income Tax industry. > * NO MORE IRS. NO MORE FILING OF TAX RETURNS by individuals. > * Those possessing illicit forms of income will ALSO pay the FairTax. > * Households have more disposable income to purchase goods. > * Savings is bolstered with reduction of interest rates. > > FOR BUSINESSES: > * Corporate income and payroll taxes revoked under FairTax. > * Business compensated for collecting tax at "cash register." > * No more tax-related lawyers, lobbyists on company payrolls. > * No more embedded (hidden) income/payroll taxes in prices. > * Reduced costs. Competition - not tax policy - drives prices. > * Off-shore "tax haven" headquarters can now return to U.S. > * No more "favors" from politicians at expense of taxpayers. > * Resources go to R&D and study of competition - not taxes. > * Marketplace distortions eliminated for fair competition. > * US exports increase their share of foreign markets. > > FOR THE COUNTRY: > * 7% - 13% economic growth projected in the first year of the FairTax. > * Jobs return to the U.S. > * Foreign corporations "set up shop" in the U.S. > * Tax system trends are corrected to "enlarge the pie." > * Larger economic "pie," means thinner tax rate "slices." > * Initial 23% portion of price is pressured downward as "pie" > increases. > * No more "closed door" tax deals by politicians and business. > * FairTax sets new global standard. Other countries will follow. > > I invite you to join the effort ( http://tinyurl.com/7lssy then > register at FairTax.org ) > > Regards, > Ian >
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