Lulu :
Where did you read the ” yearly ” refund thing ? It’s called a ” pre-bate ” and it’s each and every month based upon what one would normally pay in consumer tax at the poverty level . Everyone is included from the very poorest to the very wealthiest . FAIR !

So , how does this hit the poor and middle class ? The poor will pay ” ZERO ” Income and Social Security taxes .

lvken7 :
The only deductions from wages for ” ANY ” taxes would be for those assessed by the respective States . NO SOC SEC , NO FEDERAL INCOME TAXES WITHHELD .

peregrin :

You recognize a bad idea when you see it ? You just proved otherwise . Yes , you should read the book, ” SLOWLY ” .

This is a non-partisan issue because it effects us all . This could be an excellent first step in the quest to regain our ” STOLEN ” Republic . Yeah , I know , most of you do know what the hell I’m talking about . I suggest scrapping your T.V. and canceling your newspaper . Those are the tools utilized by the shadow Government to dumb down American . Unless you enjoy being a mushroom .

“Read the book” is not a valid defense for this nor any other scheme to transfer (more of) the tax burden from the wealthy to the poor & middle class.

No records to keep.

April 15 would be JUST ANOTHER DAY.

There are 4 Groups that pay NO FED tax now,
and with a FTax they would.

Moonlighting – Under the table pay – tips
Foreign Tourist
Crime
Advertising

If you want to discuss it more – email me -
LVKen7 at gmail.com

Big deal if they got a refund once a year. What happens between the time they spend the money they can’t afford and the time they get the money back?

Back to the drawing board.

And we liberals are less likely to hate the message because of who the messenger is, it is the conservatives who excel at that.

Here is why the FairTax MUST replace the income tax. It’s:

• SIMPLE, easy to understand
• EFFICIENT, inexpensive to comply with and doesn’t cause less-than-optimal business decisions for tax minimization purposes
• FAIR, loophole free and everyone pays their share
• LOW TAX RATE, achieved by broad base with no exclusions
• PREDICTABLE, doesn’t change, so financial planning is possible
• UNINTRUSIVE, doesn’t intrude into our personal affairs or limit our liberty
• VISIBLE, not hidden from the public in tax-inflated prices or otherwise
• PRODUCTIVE, rewards, rather than penalizes, work and productivity

Its benefits are as follows:

FOR INDIVIDUALS:
• No more tax on income – make as much as you wish
• You receive your full paycheck – no more deductions
• You pay the tax when you buy “at retail” – not “used”
• No more double taxation (e.g. like on current Capital Gains)
• Reduction of “pre-FairTaxed” retail prices by 20%-30%
• Adding back 29.9% FairTax maintains current price levels
• FairTax would constitute 23% portion of new prices
• Every household receives a monthly check, or “pre-bate”
• “Prebate” is “advance payback” for monthly consumption to poverty level
• FairTax’s “prebate” ensures progressivity, poverty protection
• Finally, citizens are knowledgeable of what their tax IS
• Elimination of “parasitic” Income Tax industry
• NO MORE IRS. NO MORE FILING OF TAX RETURNS by individuals
• Those possessing illicit forms of income will ALSO pay the FairTax
• Households have more disposable income to purchase goods
• Savings is bolstered with reduction of interest rates

FOR BUSINESSES:
• Corporate income and payroll taxes revoked under FairTax
• Business compensated for collecting tax at “cash register”
• No more tax-related lawyers, lobbyists on company payrolls
• No more embedded (hidden) income/payroll taxes in prices
• Reduced costs. Competition – not tax policy – drives prices
• Off-shore “tax haven” headquarters can now return to U.S
• No more “favors” from politicians at expense of taxpayers
• Resources go to R&D and study of competition – not taxes
• Marketplace distortions eliminated for fair competition
• US exports increase their share of foreign markets

FOR THE COUNTRY:
• 7% – 13% economic growth projected in the first year of the FairTax
• Jobs return to the U.S.
• Foreign corporations “set up shop” in the U.S.
• Tax system trends are corrected to “enlarge the pie”
• Larger economic “pie,” means thinner tax rate “slices”
• Initial 23% portion of price is pressured downward as “pie”
increases
• No more “closed door” tax deals by politicians and business
• FairTax sets new global standard. Other countries will follow

(*) http://snipurl.com/taxpanelrebutted (.pdf)

(**) http://snipurl.com/econsopenletter (Lists every tax that FairTax will eliminate, together with the power they represent to pol’s and lobbyists.)

(***) Listen to an interview where Prof. Kotlikoff elaborates: http://snipurl.com/meltdowninprogress

The time for sitting around, pontificating, is over. We have NO CHOICE but to ACT: http://snipr.com/scrapthecode

http://www.lewrockwell.com/vance/vance83.html

http://www.gbj.com/content.cfm?Action=story_detail&StoryID=1679

I’ve read the Fair tax book and have never enjoyed such a work of fiction in my life. No Social Security tax being held out? How many senior citizens do you want eating cat food? You do realize that the taxes being held out today are the ones that are paying the current checks.
The biggest myth is that if you replace the current system with what is basically a national sales tax you will get rid of the IRS. Who then collects the sales tax? Meet the new boss, same as the old boss.
Now let’s say Bill Gates decides to live abroad the first year of the “fair tax” system. He ( a billionare) would end up paying next to nothing. While a single mother of two would end up paying 25%+ of her income on this “fair” tax. Sounds real fair to me.