Forget the Fair Tax - Adopt the Flat Tax

http://www.kconnolly.net - I like the idea behind the Fair Tax Act of 2011, but I don't like its implementation. Herein I outline my plan for a truly fair tax; a flat tax.

Read the Fair Tax Act of 2011 for yourself:
http://thomas.loc.gov/cgi-bin/query/z?c112:H.R.25:

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[dnapiorkowski99]

why are you sitting are your dog? 0_0

[tsilb]

@dnapiorkowski99 He likes it there.

[MerlinYoda]

Umm... when you say "no property tax" you do realize that property taxes are imposed on the *state* level not *federal* level, right? The Fair Tax Act of 2011, it would operate pretty much exactly as you describe with your proposed Flat Sales tax with two noticeable variations 1) the FairTax only taxes new good and services (no re-taxing used items) and 2) the "prebate" in HR 25

I think you may want to look into by what level of government taxes are imposed (and thus where that tax money goes).

[MerlinYoda]

@tslib

"... that can become just as bad and convoluted as our existing tax system" ... as can *any* tax system, what's your point?

"still requires people to file taxes" ... if by "people" you mean "registered businesses" then yes. Tax is only collected on retail consumption of services and new goods. As such, the *retailer* is responsible for remitting that tax. How do you expect any tax to be collected if *no one at all* (not even someone from that business) ever filed a return of some sort.

[MerlinYoda]

@tslib "Rebates to people based on their income levels" That's bull-crap ... and by that I mean what you are saying there utterly fallacious. Every citizen that chooses to register for the prebate *will receive one* (by household) ... and it is *not* based on "income" but rather based on the federal poverty level set by the department of health and human services. I hope since posting this video you've studied the legislation in more detail and have found where you are in error.

[workerguy82]

I really don't think you get the FairTax, go back and READ IT not just skim over it.

[ItchMyFoot]

At least you spotted some problems with Fairtax -- but you missed the big ones.

I will email you a link, please read it.

[urgener]

In short, the FairTax eliminates the middle man. Corporations only pass their income taxes to the consumer, by raising the prices. Eliminate the corporate income tax, and the price will come down to allow just 5 percent profit, due to competition. Replace this with the FairTax, and the price will come right back where it was. Prices won't change (maybe slightly), take home will rise, the fed budget won't change. Nothing will change except you'll never handle another tax form again.

[Falco98]

there are a large handful of good reasons why a flat tax is nowhere near as good as a fairtax implementation. for one thing, the fairtax makes specific provisions to un-burden people on the poorer end, which any flat tax simply can't do. the fair tax also rewards earning, saving, and investing in a way that no income or earnings-based tax can do.

[RWheeler92]

In England we use this as well as income and council tax. 20% (Used to be 17.5%) for every item which isn't children's clothes and food. It is not enough to fund the government though. Do you have any figures to work out how much income the government would get off this? I kind of doubt it will bring in enough.

[hayden50]

yes we need a flat tax..it's about rime we had a national debate about a flat tax...