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Author Topic: fair tax versus flat tax  (Read 3458 times)

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Offline seahorse513

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fair tax versus flat tax
« on: June 24, 2011, 10:19:21 PM »
I am not familiar with either. I did look it up(fair tax). it looked kinda interesting. I didn't understand the chart however(regarding prebate??)
What are people's opinion?? Are you for or against fair tax and why????
http://www.fairtax.org/site/PageServer?pagename=about_faq_answers#24
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Offline seahorse513

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Re: fair tax versus flat tax
« Reply #1 on: June 24, 2011, 10:27:19 PM »
and here are the pros and cons of a flat tax...

http://taxes.about.com/od/statetaxes/a/Flat-tax.htm
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Offline Rebel

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Re: fair tax versus flat tax
« Reply #2 on: June 25, 2011, 11:48:55 AM »
Fairtax gets every able body. The flat tax, well, you're still stuck with the few of us that currently pay taxes. The scabs will still be working under the table. I'm for the Fairtax.
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Offline seahorse513

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Re: fair tax versus flat tax
« Reply #3 on: June 25, 2011, 08:54:33 PM »
Quote from: Rebel on June 25, 2011, 11:48:55 AM
Fairtax gets every able body. The flat tax, well, you're still stuck with the few of us that currently pay taxes. The scabs will still be working under the table. I'm for the Fairtax.

Thank you Rebel for a good explanation.
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Offline docstew

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Re: fair tax versus flat tax
« Reply #4 on: July 12, 2011, 07:07:57 AM »
Flat taxes are an easy answer to the question: "How do we make the tax system more fair?", after all, what could be more fair than everyone pays 10% (or whatever the rate may be).  But like Rebel pointed out, it still misses all those people who don't pay taxes NOW, which is rapidly approaching 50% of the populace.  The Fairtax at first doesn't seem "fair", because you're all of a sudden taxing things people need to survive (food, housing, etc) and how are the "poor" supposed to pay taxes on top of those prices when they're already barely scraping by? That's where the Fairtax is most brilliant. 1) Eliminating corporate taxes gives suppliers of goods, and ultimately retailers, the ability to drop prices by about 20%.  If you think retailers won't drop prices, just ask yourself what would happen to Wal-Mart (as an example) if they didn't drop prices and Target did. 2) The "prebate" is an upfront monthly stipend to cover the cost of taxes for those "necessities of life", so your tax liability for basic living is 0. The prebate only goes to those who are here legally, so no more free ride for illegal aliens, oh, and the illegals pay taxes too.

Long story short, benefits of the Fairtax:
Everyone pays taxes
You get your entire paycheck (no withholding)
No added tax burden on business for hiring
Individuals have more control over what they pay the gov
Disincentivizes illegal immigration
Disincentivizes illegal income (drug dealers pay taxes too now)

Did I miss anything Reb?
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Offline Rebel

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Re: fair tax versus flat tax
« Reply #5 on: July 12, 2011, 08:16:45 AM »
Sounds about right. You'll wind up paying approximately 2-3% more on goods you purchase now, but you'll keep approximately 100% of your income, assuming you live in a state with no state income. People wonder how this works out. How can we operate the government on essentially a 2-3% tax on individuals? Well, draw a line on a piece of paper about 12 inches long. Now, come in about 4 inches on each side, leaving you with 4 inches in the middle (given that the other 8 inches are the people on the role that don't pay income taxes plus the people that are working under the table, tourists, etc., and how many tourists actually fill out the necessary paperwork for tax exemption on a purchased product?). That's your current tax base. After the Fair Tax, it's the entire 12 inches.
« Last Edit: July 12, 2011, 08:19:06 AM by Rebel »
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Offline rich_t

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Re: fair tax versus flat tax
« Reply #6 on: July 12, 2011, 08:28:50 AM »
We will never see a fair tax nor even a flat tax.  At least not any time in the foreseeable future.  Congress will simply never willingly give up the power and control that our current convoluted system gives them. The current system is great for keeping up class warfare and keeping the country divided.
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Offline Eupher

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Re: fair tax versus flat tax
« Reply #7 on: July 12, 2011, 09:44:02 AM »
Quote from: rich_t on July 12, 2011, 08:28:50 AM
We will never see a fair tax nor even a flat tax.  At least not any time in the foreseeable future.  Congress will simply never willingly give up the power and control that our current convoluted system gives them. The current system is great for keeping up class warfare and keeping the country divided.

Not to mention the legions of tax lawyers and businesses that specialize in tax law. If you think those lobbyists wouldn't fight tooth and nail to keep the present tax code, I've got some swampland in Arizona to sell you.
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Offline thundley4

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Re: fair tax versus flat tax
« Reply #8 on: July 12, 2011, 09:47:19 AM »
Quote from: Eupher on July 12, 2011, 09:44:02 AM
Not to mention the legions of tax lawyers and businesses that specialize in tax law. If you think those lobbyists wouldn't fight tooth and nail to keep the present tax code, I've got some swampland in Arizona to sell you.

Just think how many employees at the IRS could be let go.
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Offline rich_t

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Re: fair tax versus flat tax
« Reply #9 on: July 12, 2011, 03:57:28 PM »
Quote from: thundley4 on July 12, 2011, 09:47:19 AM
Just think how many employees at the IRS could be let go.

Under the fair tax system there wouldn't really be a need for the IRS.
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Offline JohnnyReb

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Re: fair tax versus flat tax
« Reply #10 on: July 12, 2011, 04:11:05 PM »
Quote from: Eupher on July 12, 2011, 09:44:02 AM
Not to mention the legions of tax lawyers and businesses that specialize in tax law. If you think those lobbyists wouldn't fight tooth and nail to keep the present tax code, I've got some swampland in Arizona to sell you.


...and from thundley4
Just think how many employees at the IRS could be let go.

The head of the IRS under Ford wanted to change the tax law to a much simpler form....but said it would never happen because of these reasons.
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Offline Janice

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Re: fair tax versus flat tax
« Reply #11 on: July 12, 2011, 04:12:09 PM »
Quote from: rich_t on July 12, 2011, 08:28:50 AM
We will never see a fair tax nor even a flat tax.  At least not any time in the foreseeable future.  Congress will simply never willingly give up the power and control that our current convoluted system gives them. The current system is great for keeping up class warfare and keeping the country divided.

Quote from: Eupher on July 12, 2011, 09:44:02 AM
Not to mention the legions of tax lawyers and businesses that specialize in tax law. If you think those lobbyists wouldn't fight tooth and nail to keep the present tax code, I've got some swampland in Arizona to sell you.

Yup. That about sums it up.
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