Flat Tax debunked part 2

So yesterday I posted a video on the Flat Tax or Fair Tax or Consumption Tax. I forgot one major part of that equation...the Capital Gains Taxes will be removed from the economy. In this video I show how the real money is made and the poor are screwed even worse. Part one video is here
http://youtube.com/watch?v=EhMWJlN3-Vo

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• fair
• consumption
• tax
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• rich
• destroy
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• economics
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[gcjc41]

The Fair Tax will also eliminate the underground economy.People who have a side business and "forget" to claim that on their tax return will ultimately get taxed under The Fair Tax.There seems to be so many misconceptions about The Fair Tax. It comes from not understanding it throughly in the first place. Everyone should read both Fair Tax books and then compare.As for the Flat Tax it is no different than what we have today. It's just one Flat payroll tax across the board.

[gcjc41]

Have you actually read The Fair Tax books? It does away with every payroll tax that gets withheld from our paychecks today and places a 23% National Retail Sales Tax on "New" Goods and Services. Used products are NOT taxed at all. So we basically can control what we pay in taxes. Naturaly the rich guy will buy more New things so he wil pay more in taxes than a person that only buys used things. As for taxes you pay for groceries The Prebate Check everyone gets should offset the amount in tax pd

[SangriaStud28]

Guess what people do with your money when you invest it in their business. They spend it building their business...which means it gets taxed under a fair tax...which means you can't think five minutes in front of you.

[StateExempt]

@boredjoewo - If you are not getting the chance to enjoy your own income than you should not be required to pay a tax on it - period.

[MrFryMan]

I don't most people that make one million dollars would spend so little

[Writerdust]

Turn down the volume on your video's. I have to rush to turn down my volume. But I want to hear what you have to say. Or maybe you could find a better system to record with. Are you using your computer's video to post up to YouTube or a video?

[AtlasShruggedify]

Also, what value is a dollar to you if you don't spend it. If you have a billion dollars, but are 'so clevar' that you don't spend it, then you likely just have really expensive wallpaper or fire tinder. None of your arguments made sense to me.

[AtlasShruggedify]

You "destroy the flat tax in 2 minutes" yet it took me almost 14 minutes to watch your two videos on it. You're discussing the fair tax, not the flat tax - and the two are not the same - though both are better than what we currently have.

In your scenario where you have a quarter of a billion dollars in 2 years (doubled quarterly), you forgot to mention what would happen if you lost the money in the market. it's gone! Also you're investing in american companies, strengthening the economy.

[TheRaistlinmajerie]

learn to read.

[poonhounds2]

So you make 1/4 of a billion dollars in capital gains. So what? you are not spending it on yourself. All of your capital gains goes back into investing in American companies (buying more stock), or investing in small business or giving out student loans (a savings account) or providing capital to the federal government (treasury bonds). This is precisely why we should have a fair tax in order to encourage this behaviour, and discourage rich people from living an opulent lifestyle.