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First, Why We Need a Fair Tax

Under present law federal expenditures will soar past federal revenues. To increase revenues we have to increase GDP. To increase GDP we have to reform taxes. The best proposal to reform taxes is t...  
 
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fsufan850 (2 months ago) Show Hide
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The poor spend more percentage of their consumption on items needed for basic needs(food, utilities, healthcare, etc) then the rich do. This tax would disproportionately help the rich, and punish the consumer.

A nations wealth has been always defined on it's ability to consume, not on it's production. That "prebate" is pennies to cover what would needed to offset this classwarfare that this bill would seek to create.
capttheo1 (2 months ago) Show Hide
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Don't forget, it also covers purchases that only the wealthy buy. The wealthy would not receive a prebate check. Could you please explain to me how lowering prices would punish the consumer?
fsufan850 (2 months ago) Show Hide
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This tax would not lower prices of goods. It would actually make countries that already sell use cheap goods less inclined to do so. a 30% markup on every good means would mean that lead to less consumption of goods. This would instantly piss off all overseas manufactures which would markup the price of goods even more to makeup for the loss in revenue they would receive.
capttheo1 (2 months ago) Show Hide
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Might I inquire how eliminating imbedded corporate taxes, thereby making it cheaper to make things, would not lower prices? Eliminating corporate taxes would not only bring back our overseas jobs, but foreign co.'s would want to start operations over here as well! That's why our jobs went overseas, for the tax break. If they could go from low taxes to almost no taxes, they'd be back in a flash. Either that or they'd go broke.
fsufan850 (2 months ago) Show Hide
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This tax would be more inclusive than the corporate taxes already are.
Piscivorus (3 months ago) Show Hide
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Recognition only requires an entry in an official archive. A monopoly has nothing to do with recognition, it's all about greed and it destroys everything a free market depends on.
capttheo1 (3 months ago) Show Hide
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So, in other words, they have no need to benefit financially from their work, they should just do it for the good of the state. We have GOT to remove any incentive to improve anything.
Without a little bit of greed, we would have no need for money. The Commissar would just give us whatever he thinks we need. Personally, I think that the Fair Tax should be #1. If we passed that, so much else would fall into line.
Piscivorus (3 months ago) Show Hide
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No, that's not what I'm saying. You don't need a monopoly to make money and your lack of a monopoly doesn't mean you lack a profit incentive. Your financial success in a free market should be determined by your ability to compete, not by your ability to get the government to eliminate your competition for you.

The reason I listed the Fair Tax at #4 is because it will reduce government revenue and reducing government revenue before eliminating it's greatest expenditures would be a bad idea.
capttheo1 (3 months ago) Show Hide
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Actually, the way I understand it, it will increase revenues because it will start taxing the shadow economy. Illegals and such like that. They may not pay taxes currently, but they do have to eat.
Piscivorus (2 months ago) Show Hide
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It will definitely help. But considering how the American public's approval rating of Congress in general is at an all time low, I would not be surprised if most people go out of their way to buy non taxable goods before spending a dime on taxable goods. And every time the President and/or Congress tries to do something we don't approve of, there'd be a major dip in taxable sales followed by a dip in federal revenue. That is how it should be though, imo.

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