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6/9/2008:
"Thank you for contacting me to express your support for the idea of a fair tax. I appreciate the understandable frustration many Americans face with our tax system. The American tax system has grown increasingly complex, inefficient, and unfair, and its impact falls particularly hard on middle income taxpayers. It is no wonder that the notion of a simplified "flat tax"? or a bill calling for a "fair tax"? has considerable appeal.
"S.1025 would repeal the income, employment, estate, and gift taxes, while also eliminating the Internal Revenue Service after fiscal year 2011. It would establish a 23% national sales tax in the place of the existing tax system, effective in 2009.
"My concern with this approach is that while it would reduce taxes for wealthier Americans, it would not help to improve tax fairness but would significantly worsen the federal deficit, which is already at an historic high. Furthermore, if the tax rate were set at the level required to mitigate the damage to America's fiscal situation, the result would be a higher effective tax burden for people least able to afford it, particularly lower income families and the traditional middle class. That is the complication with this idea.
"There are tax reform approaches that achieve some of the goals of the "fair tax" while also avoiding increases in the federal deficit or adversely impacting those least able to afford it. For example, I am intrigued by a "fair" tax proposal introduced by Senator Ron Wyden that builds on former President Reagan's tax reform of 1986 by collapsing the current six rates to three and taxing all income, whether from wages or interest and dividends, at the same rates. The Wyden proposal also streamlines deductions while making sure that lower income and working class taxpayers get breaks as significant, proportionately, as those received by rich taxpayers.
"Americans need tax reform, and I believe we can accomplish it. Our goal should be a tax system that is simple, easy to comply with, devoid of abusive shelters and loopholes, progressive, and fiscally responsible. Rates should be as low as we can afford, and we need to promote national savings and investments in America's long-term economic competitiveness. I look forward to working with my colleagues on the Senate Committee on Finance to achieve those objectives.
"I respect that we may disagree on this issue today. But the stakes in this debate, for each of us, our children and indeed the country, are high. Therefore, I will continue to consider a potential fair tax and similar concepts to see how they would work in practice. I encourage you to do the same. Neither of us is interested in making a bad situation worse by implementing an innovative yet problematic proposal. With that perspective, I encourage you to continue communicating your opinions and concerns, on this or any other issue.
"Robert, thank you again for writing and please stay in touch in the future."
Sincerely,
Barack Obama
United States Senator
<p>6/9/2008:<br />
“Thank you for contacting me to express your support for the idea of a fair tax. I appreciate the understandable frustration many Americans face with our tax system. The American tax system has grown increasingly complex, inefficient, and unfair, and its impact falls particularly hard on middle income taxpayers. It is no wonder that the notion of a simplified “flat tax”? or a bill calling for a “fair tax”? has considerable appeal.</p>
<p>“S.1025 would repeal the income, employment, estate, and gift taxes, while also eliminating the Internal Revenue Service after fiscal year 2011. It would establish a 23% national sales tax in the place of the existing tax system, effective in 2009.</p>
<p>“My concern with this approach is that while it would reduce taxes for wealthier Americans, it would not help to improve tax fairness but would significantly worsen the federal deficit, which is already at an historic high. Furthermore, if the tax rate were set at the level required to mitigate the damage to America’s fiscal situation, the result would be a higher effective tax burden for people least able to afford it, particularly lower income families and the traditional middle class. That is the complication with this idea.</p>
<p>“There are tax reform approaches that achieve some of the goals of the “fair tax” while also avoiding increases in the federal deficit or adversely impacting those least able to afford it. For example, I am intrigued by a “fair” tax proposal introduced by Senator Ron Wyden that builds on former President Reagan’s tax reform of 1986 by collapsing the current six rates to three and taxing all income, whether from wages or interest and dividends, at the same rates. The Wyden proposal also streamlines deductions while making sure that lower income and working class taxpayers get breaks as significant, proportionately, as those received by rich taxpayers.</p>
<p>“Americans need tax reform, and I believe we can accomplish it. Our goal should be a tax system that is simple, easy to comply with, devoid of abusive shelters and loopholes, progressive, and fiscally responsible. Rates should be as low as we can afford, and we need to promote national savings and investments in America’s long-term economic competitiveness. I look forward to working with my colleagues on the Senate Committee on Finance to achieve those objectives.</p>
<p>“I respect that we may disagree on this issue today. But the stakes in this debate, for each of us, our children and indeed the country, are high. Therefore, I will continue to consider a potential fair tax and similar concepts to see how they would work in practice. I encourage you to do the same. Neither of us is interested in making a bad situation worse by implementing an innovative yet problematic proposal. With that perspective, I encourage you to continue communicating your opinions and concerns, on this or any other issue.</p>
<p>“Robert, thank you again for writing and please stay in touch in the future.”</p>
<p>Sincerely,</p>
<p>Barack Obama<br />
United States Senator</p>
2009-02-18T13:44:01-08:00
0
11532
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deleted
2009-05-18T14:18:00-07:00
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6/9/2008:
"Thank you for contacting me to express your support for the idea of a fair tax. I appreciate the understandable frustration many Americans face with our tax system. The American tax system has grown increasingly complex, inefficient, and unfair, and its impact falls particularly hard on middle income taxpayers. It is no wonder that the notion of a simplified "flat tax"? or a bill calling for a "fair tax"? has considerable appeal.
"S.1025 would repeal the income, employment, estate, and gift taxes, while also eliminating the Internal Revenue Service after fiscal year 2011. It would establish a 23% national sales tax in the place of the existing tax system, effective in 2009.
"My concern with this approach is that while it would reduce taxes for wealthier Americans, it would not help to improve tax fairness but would significantly worsen the federal deficit, which is already at an historic high. Furthermore, if the tax rate were set at the level required to mitigate the damage to America's fiscal situation, the result would be a higher effective tax burden for people least able to afford it, particularly lower income families and the traditional middle class. That is the complication with this idea.
"There are tax reform approaches that achieve some of the goals of the "fair tax" while also avoiding increases in the federal deficit or adversely impacting those least able to afford it. For example, I am intrigued by a "fair" tax proposal introduced by Senator Ron Wyden that builds on former President Reagan's tax reform of 1986 by collapsing the current six rates to three and taxing all income, whether from wages or interest and dividends, at the same rates. The Wyden proposal also streamlines deductions while making sure that lower income and working class taxpayers get breaks as significant, proportionately, as those received by rich taxpayers.
"Americans need tax reform, and I believe we can accomplish it. Our goal should be a tax system that is simple, easy to comply with, devoid of abusive shelters and loopholes, progressive, and fiscally responsible. Rates should be as low as we can afford, and we need to promote national savings and investments in America's long-term economic competitiveness. I look forward to working with my colleagues on the Senate Committee on Finance to achieve those objectives.
"I respect that we may disagree on this issue today. But the stakes in this debate, for each of us, our children and indeed the country, are high. Therefore, I will continue to consider a potential fair tax and similar concepts to see how they would work in practice. I encourage you to do the same. Neither of us is interested in making a bad situation worse by implementing an innovative yet problematic proposal. With that perspective, I encourage you to continue communicating your opinions and concerns, on this or any other issue.
"Robert, thank you again for writing and please stay in touch in the future."
Sincerely,
Barack Obama
United States Senator
http://linderfairtax.house.gov/index.cfm?FuseAction=Letters.View&ContentRecord_id=313
<p>6/9/2008: <br />
“Thank you for contacting me to express your support for the idea of a fair tax. I appreciate the understandable frustration many Americans face with our tax system. The American tax system has grown increasingly complex, inefficient, and unfair, and its impact falls particularly hard on middle income taxpayers. It is no wonder that the notion of a simplified “flat tax”? or a bill calling for a “fair tax”? has considerable appeal.</p>
<p>“S.1025 would repeal the income, employment, estate, and gift taxes, while also eliminating the Internal Revenue Service after fiscal year 2011. It would establish a 23% national sales tax in the place of the existing tax system, effective in 2009.</p>
<p>“My concern with this approach is that while it would reduce taxes for wealthier Americans, it would not help to improve tax fairness but would significantly worsen the federal deficit, which is already at an historic high. Furthermore, if the tax rate were set at the level required to mitigate the damage to America’s fiscal situation, the result would be a higher effective tax burden for people least able to afford it, particularly lower income families and the traditional middle class. That is the complication with this idea.</p>
<p>“There are tax reform approaches that achieve some of the goals of the “fair tax” while also avoiding increases in the federal deficit or adversely impacting those least able to afford it. For example, I am intrigued by a “fair” tax proposal introduced by Senator Ron Wyden that builds on former President Reagan’s tax reform of 1986 by collapsing the current six rates to three and taxing all income, whether from wages or interest and dividends, at the same rates. The Wyden proposal also streamlines deductions while making sure that lower income and working class taxpayers get breaks as significant, proportionately, as those received by rich taxpayers.</p>
<p>“Americans need tax reform, and I believe we can accomplish it. Our goal should be a tax system that is simple, easy to comply with, devoid of abusive shelters and loopholes, progressive, and fiscally responsible. Rates should be as low as we can afford, and we need to promote national savings and investments in America’s long-term economic competitiveness. I look forward to working with my colleagues on the Senate Committee on Finance to achieve those objectives.</p>
<p>“I respect that we may disagree on this issue today. But the stakes in this debate, for each of us, our children and indeed the country, are high. Therefore, I will continue to consider a potential fair tax and similar concepts to see how they would work in practice. I encourage you to do the same. Neither of us is interested in making a bad situation worse by implementing an innovative yet problematic proposal. With that perspective, I encourage you to continue communicating your opinions and concerns, on this or any other issue.</p>
<p>“Robert, thank you again for writing and please stay in touch in the future.”</p>
<p>Sincerely,</p>
<p>Barack Obama <br />
United States Senator</p>
<p><a href="http://linderfairtax.house.gov/index.cfm?FuseAction=Letters.View&ContentRecord_id=313" rel="nofollow">http://linderfairtax.house.gov/index.cfm?FuseAction=Letters.View&ContentRecord_id=313</a></p>
2009-02-18T13:45:30-08:00
0
11533
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true
published
2009-05-18T14:18:00-07:00
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368163
If only Obama would actually READ the FairTax bill and read the studies supporting (and opposing) it.
<p>If only Obama would actually <span class="caps">READ</span> the FairTax bill and read the studies supporting (and opposing) it.</p>
2009-02-18T13:59:44-08:00
0
11537
true
false
published
2009-05-18T14:18:00-07:00
3064
368163
He may oppose this, but were gonna continue to grow in size supporting the fairtax as the economy weakens. and like the republicans that didn't listen to the people concerning the war the democrats will be thrown out on their ears for not listening to the people. and propagating lies about the fairtax will not resonate with the American people as we continue to educate them on the benefits of getting rid of income tax.
<p>He may oppose this, but were gonna continue to grow in size supporting the fairtax as the economy weakens. and like the republicans that didn’t listen to the people concerning the war the democrats will be thrown out on their ears for not listening to the people. and propagating lies about the fairtax will not resonate with the American people as we continue to educate them on the benefits of getting rid of income tax.</p>
2009-02-18T15:43:06-08:00
0
11564
true
false
deleted
2009-05-18T14:18:01-07:00
1378
368163
He may oppose this, but he cant stop us from growing in size supporting the fairtax as the economy weakens. Like the republicans that didn't listen to the people concerning the war the democrats will be thrown out on their ears for not listening to the people. Propagating lies about the fairtax will back fire on Obama the agent of change.
<p>He may oppose this, but he cant stop us from growing in size supporting the fairtax as the economy weakens. Like the republicans that didn’t listen to the people concerning the war the democrats will be thrown out on their ears for not listening to the people. Propagating lies about the fairtax will back fire on Obama the agent of change.</p>
2009-02-18T15:45:41-08:00
0
11565
true
false
published
2009-05-18T14:18:01-07:00
1378
368163
For anyone interested in the counter arguments to Obama's misinformed assertions:
Gale, William (May 16, 2005). “The National Retail Sales Tax: What Would The Rate Have To Be?â€* (PDF). Tax Notes. Tax Analysis.
http://www.brookings.edu/views/articles/gale/20050516.pdf
“A Macroeconomic Analysis of the FairTax Proposalâ€* (PDF). Arduin, Laffer & Moore Econometrics (February 2006).
http://www.fairtax.org/PDF/MacroeconomicAnalysisofFairTax.pdf
Altig, David; Smetters, Kent A.; Auerbach, Alan J.; Walliser, Jan; Kotlikoff, Laurence J. (September 1997) “Simulating U.S. Tax Reform“. University of California, Berkeley.
http://emlab.berkeley.edu/users/burch/26reform.pdf
Burton, David R.; Mastromarco, Dan R. (April 15, 1997). “Emancipating America from the Income Tax: How a National Sales Tax Would Work“. CATO Institute.
http://www.cato.org/pubs/pas/pa-272.html
Diamond, John W.; Zodrow, George R. (May 5, 2008). “The Impact of H.R. 25 on Housing and the Homebuilding Industry“. James A. Baker III Institute For Public Policy.
http://www.bakerinstitute.org/publications/ImpactofHR25-TEPP.pdf
Gale, William (May 16, 2005). “The National Retail Sales Tax: What Would The Rate Have To Be?â€* (PDF). Tax Notes. Tax Analysis.
http://www.brookings.edu/views/articles/gale/20050516.pdf
Kotlikoff, Laurence; Rapson, David (December 2005). “Would the FairTax Raise or Lower Marginal and Average Tax Ratesâ€* (PDF). National Bureau of Economic Research.
http://people.bu.edu/kotlikoff/w11831.pdf
Metcalf, Gilbert E. (December 8, 1997). “The National Sales Tax: Who Bears the Burden?“. CATO Institute.
http://www.cato.org/pubs/pas/pa-289.html
Tuerck, David G.; Kotlikoff, Laurence J.; Bachman, Paul; Haughton, Jonathan; Sanchez-Penalver, Alfonso (November 2006). “Taxing Sales under the FairTax – What Rate Works?â€* (PDF). Tax Notes. Tax Analysts.
http://www.beaconhill.org/FairTax2006/TaxingSalesundertheFairTaxWhatRateWorks061005.pdf
Tuerck, David G.; Haughton, Jonathan; Bachman, Paul; Sanchez-Penalver, Alfonso; Viet Ngo, Phuong (February 2007). “A Distributional Analysis of Adopting the FairTax: A Comparison of the Current Tax System and the FairTax Plan“. Beacon Hill Institute.
http://www.beaconhill.org/FairTax2007/DistributionalAnalysis%20FairTaxBHI4-25-07.pdf
Tuerck, David; Haughton, Jonathan; Bachman, Paul; Sanchez-Penalver, Alfonso (February 2007). “A Comparison of the FairTax Base and Rate with Other National Tax Reform Proposalsâ€* (PDF). Beacon Hill Institute.
http://www.beaconhill.org/FairTax2007/FairTaxBaseandRate3-15-07FINAL.pdf
There are plenty more studies out there for anyone interested.
If Obama ever opens the FairTax up for debate he will lose... and the American people will win.
<p>For anyone interested in the counter arguments to Obama’s misinformed assertions:</p>
<p>Gale, William (May 16, 2005). “The National Retail Sales Tax: What Would The Rate Have To Be?â€* (<span class="caps">PDF</span>). Tax Notes. Tax Analysis.<br />
<a href="http://www.brookings.edu/views/articles/gale/20050516.pdf" rel="nofollow">http://www.brookings.edu/views/articles/gale/20050516.pdf</a></p>
<p>“A Macroeconomic Analysis of the FairTax Proposalâ€* (<span class="caps">PDF</span>). Arduin, Laffer & Moore Econometrics (February 2006).<br />
<a href="http://www.fairtax.org/" rel="nofollow">http://www.fairtax.org/</a><span class="caps">PDF</span>/MacroeconomicAnalysisofFairTax.pdf</p>
<p>Altig, David; Smetters, Kent A.; Auerbach, Alan J.; Walliser, Jan; Kotlikoff, Laurence J. (September 1997) “Simulating U.S. Tax Reform“. University of California, Berkeley.<br />
<a href="http://emlab.berkeley.edu/users/burch/26reform.pdf" rel="nofollow">http://emlab.berkeley.edu/users/burch/26reform.pdf</a></p>
<p>Burton, David R.; Mastromarco, Dan R. (April 15, 1997). “Emancipating America from the Income Tax: How a National Sales Tax Would Work“. <span class="caps">CATO</span> Institute.<br />
<a href="http://www.cato.org/pubs/pas/pa-272.html" rel="nofollow">http://www.cato.org/pubs/pas/pa-272.html</a></p>
<p>Diamond, John W.; Zodrow, George R. (May 5, 2008). “The Impact of H.R. 25 on Housing and the Homebuilding Industry“. James A. Baker <span class="caps">III</span> Institute For Public Policy.<br />
<a href="http://www.bakerinstitute.org/publications/ImpactofHR25-" rel="nofollow">http://www.bakerinstitute.org/publications/ImpactofHR25-</a><span class="caps">TEPP</span>.pdf</p>
<p>Gale, William (May 16, 2005). “The National Retail Sales Tax: What Would The Rate Have To Be?â€* (<span class="caps">PDF</span>). Tax Notes. Tax Analysis.<br />
<a href="http://www.brookings.edu/views/articles/gale/20050516.pdf" rel="nofollow">http://www.brookings.edu/views/articles/gale/20050516.pdf</a></p>
<p>Kotlikoff, Laurence; Rapson, David (December 2005). “Would the FairTax Raise or Lower Marginal and Average Tax Ratesâ€* (<span class="caps">PDF</span>). National Bureau of Economic Research.<br />
<a href="http://people.bu.edu/kotlikoff/w11831.pdf" rel="nofollow">http://people.bu.edu/kotlikoff/w11831.pdf</a></p>
<p>Metcalf, Gilbert E. (December 8, 1997). “The National Sales Tax: Who Bears the Burden?“. <span class="caps">CATO</span> Institute.<br />
<a href="http://www.cato.org/pubs/pas/pa-289.html" rel="nofollow">http://www.cato.org/pubs/pas/pa-289.html</a></p>
<p>Tuerck, David G.; Kotlikoff, Laurence J.; Bachman, Paul; Haughton, Jonathan; Sanchez-Penalver, Alfonso (November 2006). “Taxing Sales under the FairTax – What Rate Works?â€* (<span class="caps">PDF</span>). Tax Notes. Tax Analysts.<br />
<a href="http://www.beaconhill.org/FairTax2006/TaxingSalesundertheFairTaxWhatRateWorks061005.pdf" rel="nofollow">http://www.beaconhill.org/FairTax2006/TaxingSalesundertheFairTaxWhatRateWorks061005.pdf</a></p>
<p>Tuerck, David G.; Haughton, Jonathan; Bachman, Paul; Sanchez-Penalver, Alfonso; Viet Ngo, Phuong (February 2007). “A Distributional Analysis of Adopting the FairTax: A Comparison of the Current Tax System and the FairTax Plan“. Beacon Hill Institute.<br />
<a href="http://www.beaconhill.org/FairTax2007/DistributionalAnalysis%20FairTaxBHI4-25-07.pdf" rel="nofollow">http://www.beaconhill.org/FairTax2007/DistributionalAnalysis%20FairTaxBHI4-25-07.pdf</a></p>
<p>Tuerck, David; Haughton, Jonathan; Bachman, Paul; Sanchez-Penalver, Alfonso (February 2007). “A Comparison of the FairTax Base and Rate with Other National Tax Reform Proposalsâ€* (<span class="caps">PDF</span>). Beacon Hill Institute.<br />
<a href="http://www.beaconhill.org/FairTax2007/FairTaxBaseandRate3-15-07FINAL.pdf" rel="nofollow">http://www.beaconhill.org/FairTax2007/FairTaxBaseandRate3-15-07FINAL.pdf</a></p>
<p>There are plenty more studies out there for anyone interested.</p>
<p>If Obama ever opens the FairTax up for debate he will lose… and the American people will win.</p>
2009-02-18T16:25:56-08:00
0
11570
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2009-05-18T14:18:01-07:00
3064
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Mr President,
Please take the time to read "The Fair Tax Book" by Neal Boortz and Congressman John Linder, it is 10% the size of the health care bill now being considered (204 pages), and I'm sure much easier to read than the health care bill. Also, please review the counter arguments referenced above by mhalavo. After reviewing this information, I am certain you will change your mind on this very important issue!
<p>Mr President,</p>
<p>Please take the time to read “The Fair Tax Book” by Neal Boortz and Congressman John Linder, it is 10% the size of the health care bill now being considered (204 pages), and I’m sure much easier to read than the health care bill. Also, please review the counter arguments referenced above by mhalavo. After reviewing this information, I am certain you will change your mind on this very important issue!</p>
2010-02-27T06:59:34-08:00
0
27641
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2010-02-27T06:59:34-08:00
6533
368163
Sorry Doug, youv'e probably noticed by now that Mr. President really cares very little about OUR, the american peoples betterment. Even if he did come out to support the Fair Tax, we sure enough better be watching his other hand.
<p>Sorry Doug, youv’e probably noticed by now that Mr. President really cares very little about <span class="caps">OUR</span>, the american peoples betterment. Even if he did come out to support the Fair Tax, we sure enough better be watching his other hand.</p>
2010-02-28T19:47:03-08:00
0
27648
true
false
published
2010-02-28T19:47:03-08:00
7095
2010-02-21T10:10:57-08:00
3
2010-02-18T18:31:12-08:00
3
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Do you believe the fair tax/flat tax/consumption tax will be on the table for the Presidents Commission? It better be in my opnion!
<p>Do you believe the fair tax/flat tax/consumption tax will be on the table for the Presidents Commission? It better be in my opnion!</p>
2010-02-18T18:31:12-08:00
0
27623
true
false
published
2010-02-18T18:31:12-08:00
7337
571106
We can only hope! But please don't hold your breath.
<p>We can only hope! But please don’t hold your breath.</p>
2010-02-20T07:29:57-08:00
0
27625
true
false
published
2010-02-20T07:29:57-08:00
6533
571106
If Obama is truly open to looking at ways to improve the economy he and other politicians should definitely look at the FairTax.
<p>If Obama is truly open to looking at ways to improve the economy he and other politicians should definitely look at the FairTax.</p>
2010-02-21T10:10:57-08:00
0
27627
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published
2010-02-21T10:10:57-08:00
1378
2010-02-21T10:08:56-08:00
1
2010-02-21T10:08:56-08:00
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571427
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1378
571427
Fairtax supporters, you may be interested in joining http://www.onlinetaxrevolt.com/march/ .
The Online Tax Revolt is open to every American who believes taxes and spending are out of control, harmful to our country and a threat to our nation’s future,” said Campaign Chairman Ken Hoagland. “Our economic future and that of future generations is at stake. We need taxes that are lower and a tax structure that’s fair.
“We’re in serious trouble and it falls to us to get the nation back on track. This march is a wake-up call to everyone in Washington that the American people won’t be ignored any longer,” said Mr. Hoagland.
JOIN THE REVOLT!
<p>Fairtax supporters, you may be interested in joining <a href="http://www.onlinetaxrevolt.com/march/" rel="nofollow">http://www.onlinetaxrevolt.com/march/</a> .</p>
<p>The Online Tax Revolt is open to every American who believes taxes and spending are out of control, harmful to our country and a threat to our nation’s future,” said Campaign Chairman Ken Hoagland. “Our economic future and that of future generations is at stake. We need taxes that are lower and a tax structure that’s fair.<br />
“We’re in serious trouble and it falls to us to get the nation back on track. This march is a wake-up call to everyone in Washington that the American people won’t be ignored any longer,” said Mr. Hoagland.</p>
<p><span class="caps">JOIN</span> <span class="caps">THE</span> <span class="caps">REVOLT</span>!</p>
2010-02-21T10:08:56-08:00
0
27626
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published
2010-02-21T10:08:56-08:00
1378
2010-02-15T18:58:27-08:00
8
2009-10-14T06:29:49-07:00
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If today I start a painting business, I may pay $20 dollar for my paint brush and $80 for a ladder. At the end of the year I can deduct the $100 cost of the paint brush and ladder from my taxable income. While my up front capital cost may be $100, those deductions may save me from paying $22 in taxes for a net cost of $78 after tax deductions.
Under the fairtax I may buy that same paint brush and ladder, with out the embedded cost of "income, corporate income, capital gains, payroll, and other taxes" for about %22 less or $78
If you want to start your own business would you prefer $100 in capital outlays or $78 in capital outlays.
The Fairtax makes getting started and running a business a lot easier.
<p>If today I start a painting business, I may pay $20 dollar for my paint brush and $80 for a ladder. At the end of the year I can deduct the $100 cost of the paint brush and ladder from my taxable income. While my up front capital cost may be $100, those deductions may save me from paying $22 in taxes for a net cost of $78 after tax deductions.</p>
<p>Under the fairtax I may buy that same paint brush and ladder, with out the embedded cost of “income, corporate income, capital gains, payroll, and other taxes” for about %22 less or $78</p>
<p>If you want to start your own business would you prefer $100 in capital outlays or $78 in capital outlays.</p>
<p>The Fairtax makes getting started and running a business a lot easier.</p>
2009-10-14T06:29:49-07:00
0
26615
true
false
deleted
2009-11-08T19:10:20-08:00
1378
553263
If today I start a painting business, I may pay $20 dollar for a paint brush and $80 for a ladder. At the end of the year I can deduct the $100 cost of the paint brush and ladder from my taxable income. While my up front capital cost may be $100, those deductions may save me from paying $22 in taxes for a net cost of $78 after tax deductions.
Under the fairtax I may buy that same paint brush and ladder, with out the cost of embedded “income, corporate income, capital gains, payroll, and other taxesâ€* for about $78 or 22% less then under the income tax
Either way the net cost is about $78, but under the income tax, initial capital outlay is higher and making it more difficult to start and run a business.
<p>If today I start a painting business, I may pay $20 dollar for a paint brush and $80 for a ladder. At the end of the year I can deduct the $100 cost of the paint brush and ladder from my taxable income. While my up front capital cost may be $100, those deductions may save me from paying $22 in taxes for a net cost of $78 after tax deductions.</p>
<p>Under the fairtax I may buy that same paint brush and ladder, with out the cost of embedded “income, corporate income, capital gains, payroll, and other taxesâ€* for about $78 or 22% less then under the income tax</p>
<p>Either way the net cost is about $78, but under the income tax, initial capital outlay is higher and making it more difficult to start and run a business.</p>
2009-11-08T19:10:14-08:00
0
26977
true
false
deleted
2009-11-09T01:31:50-08:00
1378
553263
If today I start a painting business, I may pay $20 dollar for a paint brush and $80 for a ladder. At the end of the year I can deduct the $100 cost of the paint brush and ladder from my taxable income. While my up front capital cost may be $100, those deductions may save me from paying $22 in taxes for a net cost of $78 after tax deductions.
Under the fairtax I may buy that same paint brush and ladder, with out the cost of embedded “income, corporate income, capital gains, payroll, and other taxesâ€* for about $78 or 22% less then under the income tax
Either way the net cost is about $78, but under the income tax, initial capital outlay is higher, making it more difficult to start and run a business.
<p>If today I start a painting business, I may pay $20 dollar for a paint brush and $80 for a ladder. At the end of the year I can deduct the $100 cost of the paint brush and ladder from my taxable income. While my up front capital cost may be $100, those deductions may save me from paying $22 in taxes for a net cost of $78 after tax deductions.</p>
<p>Under the fairtax I may buy that same paint brush and ladder, with out the cost of embedded “income, corporate income, capital gains, payroll, and other taxesâ€* for about $78 or 22% less then under the income tax</p>
<p>Either way the net cost is about $78, but under the income tax, initial capital outlay is higher, making it more difficult to start and run a business.</p>
2009-11-09T01:31:45-08:00
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2009-11-09T01:31:45-08:00
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Currently, if you are lucky enough to get a business up and running, you also have to worry about payroll taxes and paying an accountant to help you file a tax return whether you make a profit or not!
<p>Currently, if you are lucky enough to get a business up and running, you also have to worry about payroll taxes and paying an accountant to help you file a tax return whether you make a profit or not!</p>
2009-11-26T04:56:45-08:00
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2009-11-26T04:56:45-08:00
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On the other hand, with a fair tax you would be better off investing your money in a savings account or even burying it underground than actually using it to start a business with any sort of capital needs. Moreover, if you are rich enough to invest 90% of your money and only have to pay the tax on 10% which you use to buy things, you will quickly grow in wealth, while someone like me who has to spend my whole paycheck on food, will pay taxes on 100% of my income.
<p>On the other hand, with a fair tax you would be better off investing your money in a savings account or even burying it underground than actually using it to start a business with any sort of capital needs. Moreover, if you are rich enough to invest 90% of your money and only have to pay the tax on 10% which you use to buy things, you will quickly grow in wealth, while someone like me who has to spend my whole paycheck on food, will pay taxes on 100% of my income.</p>
2010-02-08T19:09:15-08:00
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2010-02-08T19:09:15-08:00
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Ngwkoop, you don't understand how the Fair Tax works. Every citizen, rich and poor alike, will receive a monthly pre-bate up to the poverty level to cover their basic necessities. You and all poor folks will basically be un-taxed with the Far Tax plan. Moreover, why would you want to bury/save currency that is only decreasing in value?
Please go to their website and learn more of the tremendous benefit to our republic the Fair Tax will be.
http://www.fairtax.org/site/PageServer?pagename=about_main
<p>Ngwkoop, you don’t understand how the Fair Tax works. Every citizen, rich and poor alike, will receive a monthly pre-bate up to the poverty level to cover their basic necessities. You and all poor folks will basically be un-taxed with the Far Tax plan. Moreover, why would you want to bury/save currency that is only decreasing in value?<br />
Please go to their website and learn more of the tremendous benefit to our republic the Fair Tax will be. <br />
<a href="http://www.fairtax.org/site/PageServer?pagename=about_main" rel="nofollow">http://www.fairtax.org/site/PageServer?pagename=about_main</a></p>
2010-02-08T21:46:23-08:00
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2010-02-08T21:46:23-08:00
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ngwkoop
If you want to work hard, under the fairtax you can start and run your business easer. You would not need to come up with $100 for your ladder and paint brush just to save $23 in income taxes, you would only need $77 under the fairtax.
If your in debt and want to get out. then under the fairtax just buy less placing yourself in a lower effective tax bracket for that month allowing you to pay off your debts faster. Once out of debt you will have more purchasing power from your income then you had when you were in debt, effectively paying a higher rate because your buying more.
The rich man that only spent 10% of his income this month will spend it latter on, with a higher effective rate. At death, he may even pass a good portion of it to his heirs. When they spend it, they'll pay a higher effective rate then if they had spent only their own income.
In the mean time that rich man that risked his money in an investment with the company your working at covered the payroll, was spent on advertising to reach new markets, and was spent on tools that increased your productivity in order to keep your job hear in America.
Do you really want an income tax to suppress those activities?
Under the fairtax. The rich man pays taxes when he spends his money on himself. Until then his money is benefiting society.
<p>ngwkoop <br />
If you want to work hard, under the fairtax you can start and run your business easer. You would not need to come up with $100 for your ladder and paint brush just to save $23 in income taxes, you would only need $77 under the fairtax.</p>
<p>If your in debt and want to get out. then under the fairtax just buy less placing yourself in a lower effective tax bracket for that month allowing you to pay off your debts faster. Once out of debt you will have more purchasing power from your income then you had when you were in debt, effectively paying a higher rate because your buying more.</p>
<p>The rich man that only spent 10% of his income this month will spend it latter on, with a higher effective rate. At death, he may even pass a good portion of it to his heirs. When they spend it, they’ll pay a higher effective rate then if they had spent only their own income.</p>
<p>In the mean time that rich man that risked his money in an investment with the company your working at covered the payroll, was spent on advertising to reach new markets, and was spent on tools that increased your productivity in order to keep your job hear in America.</p>
<p>Do you really want an income tax to suppress those activities?<br />
Under the fairtax. The rich man pays taxes when he spends his money on himself. Until then his money is benefiting society.</p>
2010-02-15T00:36:23-08:00
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2010-02-15T00:36:23-08:00
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Best Fair Tax qoute I've heard yet, "Under the fairtax. The rich man pays taxes when he spends his money on himself. Until then his money is benefiting society."
<p>Best Fair Tax qoute I’ve heard yet, “Under the fairtax. The rich man pays taxes when he spends his money on himself. Until then his money is benefiting society.”</p>
2010-02-15T18:58:27-08:00
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27608
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2010-02-15T18:58:27-08:00
7095
2010-02-11T19:45:50-08:00
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2010-01-21T11:23:28-08:00
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Have you ever read the Fair Tax Bill? http://www.fairtax.org/site/PageServer
Could you explain your opposition to such an effective solution to our ridiculous tax code?
H. Evers
<p>Have you ever read the Fair Tax Bill? <a href="http://www.fairtax.org/site/PageServer" rel="nofollow">http://www.fairtax.org/site/PageServer</a><br />
Could you explain your opposition to such an effective solution to our ridiculous tax code?</p>
<p>H. Evers</p>
2010-02-10T12:29:19-08:00
0
27590
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2010-02-10T12:29:19-08:00
2059
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I was delighted to find out the other day that my own dad supports the Fair Tax. And he doesn't even have a computer. The word is definately getting out.
<p>I was delighted to find out the other day that my own dad supports the Fair Tax. And he doesn’t even have a computer. The word is definately getting out.</p>
2010-02-11T19:45:50-08:00
0
27596
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2010-02-11T19:45:50-08:00
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2010-02-10T12:07:58-08:00
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2010-02-08T19:04:57-08:00
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May one ask why you oppose this initiative?
http://www.fairtax.org/site/PageServer
H. Evers
<p>May one ask why you oppose this initiative?</p>
<p><a href="http://www.fairtax.org/site/PageServer" rel="nofollow">http://www.fairtax.org/site/PageServer</a></p>
<p>H. Evers</p>
2010-02-10T12:07:58-08:00
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2010-02-10T12:07:58-08:00
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2010-02-02T19:16:32-08:00
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2010-02-02T19:16:32-08:00
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"We need true tax reform that will at least make a start toward restoring for our children the American Dream that wealth is denied to no one, that each individual has the right to fly as high as his strength and ability will take him... But we cannot have such reform while our tax policy is engineered by people who view the tax as a means of achieving changes in our social structure."
President Ronald Reagan
<p>“We need true tax reform that will at least make a start toward restoring for our children the American Dream that wealth is denied to no one, that each individual has the right to fly as high as his strength and ability will take him… But we cannot have such reform while our tax policy is engineered by people who view the tax as a means of achieving changes in our social structure.”</p>
<p>President Ronald Reagan</p>
2010-02-02T19:16:32-08:00
0
27574
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2010-02-02T19:16:32-08:00
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2009-11-23T16:50:30-08:00
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2009-07-30T05:54:03-07:00
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The short version is that there is no charity deductions. But, since you will not be penalized for making money there is a great chance you may donate even more. Remember, the tax is on what you spend not what you receive. IF the charity is frugal they will be fine.
<p>The short version is that there is no charity deductions. But, since you will not be penalized for making money there is a great chance you may donate even more. Remember, the tax is on what you spend not what you receive. IF the charity is frugal they will be fine.</p>
2009-07-30T05:54:04-07:00
0
25489
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false
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2009-07-30T05:54:04-07:00
5419
527320
Tax deductions didn't create charitable donations and the eliminating of tax deductions won’t end charitable giving.
<p>Tax deductions didn’t create charitable donations and the eliminating of tax deductions won’t end charitable giving.</p>
2009-11-23T16:49:38-08:00
0
27184
true
false
deleted
2009-11-23T16:50:01-08:00
7095
527320
Tax deductions didn't create charitable donations and the eliminating of tax deductions won’t end charitable donations.
<p>Tax deductions didn’t create charitable donations and the eliminating of tax deductions won’t end charitable donations.</p>
2009-11-23T16:50:30-08:00
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27185
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2009-11-23T16:50:30-08:00
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2009-11-23T12:57:30-08:00
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2009-11-11T23:36:40-08:00
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Mike,
Please remember the FairTax is considered fair because everybody has skin in the game. Those that are at or below the poverty level will pay no federal tax under the FairTax due to the prebate. Those that have financial support that can not be taxed under the current system, will be taxed under the FairTax, assuming they spend at a level above the poverty level or at any level if they are not citizens of the US. This talking point may be politically incorrect, but it is the truth, and I think that political correctness is way out of control in this country, ie Fort Hood! Thank you for supporting the FairTax!
<p>Mike,</p>
<p>Please remember the FairTax is considered fair because everybody has skin in the game. Those that are at or below the poverty level will pay no federal tax under the FairTax due to the prebate. Those that have financial support that can not be taxed under the current system, will be taxed under the FairTax, assuming they spend at a level above the poverty level or at any level if they are not citizens of the US. This talking point may be politically incorrect, but it is the truth, and I think that political correctness is way out of control in this country, ie Fort Hood! Thank you for supporting the FairTax!</p>
2009-11-23T12:57:30-08:00
0
27182
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2009-11-23T12:57:30-08:00
6533
2009-11-18T19:48:08-08:00
5
2009-11-12T09:47:14-08:00
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Let's pushLet’s push for a payroll holiday as a part of the presidents business summit. This could be used as a case study for introducing consumption tax into the US system. How do we pay for it? With excess TARP funds. It’s our money anyway….give it back!! Let’s make March 2010 a Federal Tax Free Month. It will not be exactly as the Fair Tax would work but it would be a great start. The US consumer, taxpayer and corporations would all benefit. What are your thoughts? Can anyone on this board introduce this idea the people @ Fair tax?
<p>Let’s pushLet’s push for a payroll holiday as a part of the presidents business summit. This could be used as a case study for introducing consumption tax into the US system. How do we pay for it? With excess <span class="caps">TARP</span> funds. It’s our money anyway….give it back!! Let’s make March 2010 a Federal Tax Free Month. It will not be exactly as the Fair Tax would work but it would be a great start. The US consumer, taxpayer and corporations would all benefit. What are your thoughts? Can anyone on this board introduce this idea the people @ Fair tax?</p>
2009-11-12T09:47:14-08:00
0
27042
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2009-11-12T09:47:14-08:00
7337
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I'm on board with that.
<p>I’m on board with that.</p>
2009-11-13T07:29:01-08:00
0
27045
true
false
deleted
2009-11-13T07:29:11-08:00
7095
560557
Let it be written, let it be done.
<p>Let it be written, let it be done.</p>
2009-11-13T07:30:01-08:00
0
27046
true
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2009-11-13T07:30:01-08:00
7095
560557
I think the fair tax idea is good, but I do see some problems when it comes to internet sales. As the years pass e-commerce continues to grow and already has outpaced traditional style retail space commerce and are taxation policy towards this needs to be addressed either system we choose. This pains me to say seeing how I own a e-commerce site. There's also the point of the sticker shock that I'm sure we could overcome but it would take a bit to get used to. Adding 30% to 40% on every purchase you make. I would also need to see how much US consumers spend each year to determine what actual % tax would be added to purchases in order to offset the current government takings from federal tax receipts. All in all If you chose a fair tax system we could ditch the IRS, increase consumer awareness and have a much simpler system.
<p>I think the fair tax idea is good, but I do see some problems when it comes to internet sales. As the years pass e-commerce continues to grow and already has outpaced traditional style retail space commerce and are taxation policy towards this needs to be addressed either system we choose. This pains me to say seeing how I own a e-commerce site. There’s also the point of the sticker shock that I’m sure we could overcome but it would take a bit to get used to. Adding 30% to 40% on every purchase you make. I would also need to see how much US consumers spend each year to determine what actual % tax would be added to purchases in order to offset the current government takings from federal tax receipts. All in all If you chose a fair tax system we could ditch the <span class="caps">IRS</span>, increase consumer awareness and have a much simpler system.</p>
2009-11-18T16:53:31-08:00
0
27105
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2009-11-18T16:53:31-08:00
10091
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The proposed 23% tax increase, to new items only, is not really an increase. The things, old and new, sold already have an average of 23% imbeded tax within the cost. The only difference will be in the reporting by the seller(s) which is based on accounting systems that in large part are already in place and operating. Remember, under the Fair Tax, only new end user items are taxed, Used goodies see no souch tax.
<p>The proposed 23% tax increase, to new items only, is not really an increase. The things, old and new, sold already have an average of 23% imbeded tax within the cost. The only difference will be in the reporting by the seller(s) which is based on accounting systems that in large part are already in place and operating. Remember, under the Fair Tax, only new end user items are taxed, Used goodies see no souch tax.</p>
2009-11-18T19:48:07-08:00
0
27106
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2009-11-18T19:48:07-08:00
7095