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The most important aspect of any alternative tax proposal is the net result - who pays more, who pays less.
If you analyze the Fair Tax proposal you will find that it substantially broadens the base of what is currently subject to sales tax, and in many cases it is burdensome. As a landlord, I'm now required to collect 23% of whatever rent I charge and forward it as a sales tax.
Right now I rent 2 houses $850 each. New rent would be need to be $1,050/month!
Hithard177 2 years ago
Good video, just a few small problems. The Fairtax is a federal tax replacment, not state (although, it CAN be passed on the state level, and this is part of the idea). In addition, I think the prebate system is worth noting. other than that, great video, and keep fighting for it!
chwparker 3 years ago 3
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Johnny, and you failed to even try to explain how the federal government can pay itself 800 billion -- or more -- each year in taxes. You say corporations don't really pay taxes, just pass the tax along.
So how on God's green earth can governments pay 800 billion or more in taxes? It can't, it has to get the money from someplace. Its an absurdity, literally an absurdity. Its a farce. You are being suckered.
Fairtax leaders KNOW its all BS, and they aren't trying to pass it.
MarkDouglasC 3 years ago
That 800billion figure is actually based on the taxes that the government would pay in money that it is already spending. It can pay for it, because it already is. And another thing, the Fairtax leaders are trying ardently to pass the Fairtax. Any small bit of research will prove this within a few minutes.
chwparker 3 years ago
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Johnny, yes there are ebedded taxes. But a homeowner doesnt pay a tax on his housepayment - a renter does. Why should a renter pay the worlds highest sales tax on his rent?
Also, working poor people will spend a very large portion of their income on rent, utilities, and food. They will pay the worlds highest sales tax on all these.
The prebate is lame, especially if you get sick or pay rent. Someone that gets cancer could pay 60K just in SALES tax on chemo and surgery. Fair?
MarkDouglasC 3 years ago
As you might be able to guess from my name, I am a supporter of the FairTax. Your presentation is not entirely accurate.
At 0:26, you say the FairTax would eliminate all federal, state, and local taxes. This is not true. What it would eliminate are federal income and payroll taxes, corporate taxes, capital gains taxes, the death tax, the AMT, and the gift tax. The 23% inclusive sales tax is a federal tax. The states would likely follow suit, but they are not covered by the FairTax.
JohnnyFairTax 3 years ago 2
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I can guess from your name that you are pretty gullible. Fairtax is nonsense, its not a serious plan. For example, it pretends to make the federal government PAY 800 billion a year in taxes. Where do you think the federal government gets its money?
Fairtax says corporations can't really pay taxes - they just pass the cost along. But somehow, governments they think CAN pay taxes. Absolute bullshit. Total farce. And thats just the start of the insanity. It might sound nice, till you think
MarkDouglasC 3 years ago
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Fairtax is a farce -- literally a farce. You should study it in psychology class, not economics. Economically, its Alice in Wonderland insanity. For one thing, it would be the worlds HIGHEST sales tax - and apply to things like your RENT. Also, gasoline tax would go from 18 cents to 1.50 or more. It also applies to cancer victims, nursing home patients. Its insane. Plus, it pretends to be able to tax the federal government 800 billion a year. Absurd nonsense.
MarkDouglasC 3 years ago
Mark,
Tax is already paid on all the things you mention. It is simply harder to see because it is embedded in the cost of the goods and services.
JohnnyFairTax 3 years ago 4
mdc, you love using this "worlds highest sales tax" in all of your posts, don't forget to mention that people will be bringing home "THEIR" "largest paychecks ever" also don't forget that market competition will drive prices down, its simple economics. Dont fight this man, its going to happen!
straysheep333 3 years ago 3
If everyone brings home 100 % of gross pay (they won't be, but let's play along), prices would rise a minimum of 20% when the tax is added on, and likely much more. Do the math-- the middle classes would be bringing home an extra 8-18%i, and wealthiest quintile would bring home 26%i more, so guess who loses under an FT/NST..
Yep, the middle classes lose, with their efffective federal rate being 15-25% higher on average, and the top 20% wealthy get tax cut of 10-40% or more.
"Fair" Tax=FAIL.
Diskatopia 3 years ago