Current Events > Am I understanding this "fair tax" nonsense right?

(+) Yeah! (+)

Get rid of all income taxes so gross pay is what you take home (assuming no benefits like insurance, 401k, etc)

But now everything you purchase costs 30% more because of the fair tax

Is this accurate, cause if so my wife and I would have spent an extra $23k on our credit card last year and we only had like $12k taken out for income tax

soooo how is this a better system

littlebro07 posted...

soooo how is this a better system

Rich people pay less taxes

pegusus123456 posted...

Rich people pay less taxes

but most conservatives are far from rich, yet theyre the ones saying what a great idea it is

its almost as if theyre voting against their own interests

This only benefits the very rich. Its just absurd. Government services would be cut fast. Consumer spending would go waay down. Itd be economically devastating

A national sales tax, without repealing the 16th amendment, is just going to end up being sales and income tax.

I understand the reasons some people are against it but to me the fairest thing will always be a flat tax on every dollar. That way everyone just pays the same percentage of whatever their income is.

VampireCoyote posted...

I understand the reasons some people are against it but to me the fairest thing will always be a flat tax on every dollar. That way everyone just pays the same percentage of whatever their income is.

I could go with less abrupt raises in tax brackets, but all loopholes are closed.

VampireCoyote posted...

I understand the reasons some people are against it but to me the fairest thing will always be a flat tax on every dollar. That way everyone just pays the same percentage of whatever their income is.

Still regressive.

Just let the government make their fake money and leave my fake money alone

littlebro07 posted...

Get rid of all income taxes so gross pay is what you take home (assuming no benefits like insurance, 401k, etc)

But now everything you purchase costs 30% more because of the fair tax

Is this accurate, cause if so my wife and I would have spent an extra $23k on our credit card last year and we only had like $12k taken out for income tax

soooo how is this a better system

Its not, but the rich are so shortsighted, that they think that making the 99% of people that have less than 5% of the wealth shoulder 99% of the tax burden is a good idea, and that it wont lead to the downfall of our Great Republic. Either that or they believe their vast wealth will shield them from the inevitable downfall of civilization that would occur should America collapse.

littlebro07 posted...

Get rid of all income taxes so gross pay is what you take home (assuming no benefits like insurance, 401k, etc)

But now everything you purchase costs 30% more because of the fair tax

Is this accurate, cause if so my wife and I would have spent an extra $23k on our credit card last year and we only had like $12k taken out for income tax

soooo how is this a better system

Rich people will pay less taxes.

littlebro07 posted...

but most conservatives are far from rich, yet theyre the ones saying what a great idea it is

its almost as if theyre voting against their own interests

They are too brainwashed to notice.

Questionmarktarius posted...

A national sales tax, without repealing the 16th amendment, is just going to end up being sales and income tax.

Pretty sure the text of the current bill that's being debated has language that says the bill will expire in 7 years if the 16th amendment isn't repealed.

A_Good_Boy posted...

Pretty sure the text of the current bill that's being debated has language that says the bill will expire in 7 years if the 16th amendment isn't repealed.

So we still pay double tax for 7 years. Then government has 7 years to figure out another way to keep taxing us double

AloneIBreak posted...

Still regressive.

anyone thats really negatively effected by that though is gonna be in such dire straits that theyd undoubtedly qualify for financial assistance though, and likely get any taxes they paid back as a refund

the important thing is that the rich wouldnt be able to wriggle out of paying their fair share. Thing of how different our country would be if billionaires were actually paying ~20% of their income in taxes

littlebro07 posted...

but most conservatives are far from rich

We don't say they vote against their best interests for nothing

VampireCoyote posted...

anyone thats really negatively effected by that though is gonna be in such dire straits that theyd undoubtedly qualify for financial assistance though, and likely get any taxes they paid back as a refund

the important thing is that the rich wouldnt be able to wriggle out of paying their fair share. Thing of how different our country would be if billionaires were actually paying ~20% of their income in taxes

I suggest you actually learn how taxes work if you think the vast majority of people wouldn't be negatively impacted by this

RlP posted...

So we still pay double tax for 7 years. Then government has 7 years to figure out another way to keep taxing us double

No, first we repeal all income tax and the fair tax goes into effect. Then if the 16th amendment isn't repealed within 7 years we lose the fair tax too and then the government has no money.

Other than omitting the part about the monthly tax prebate, that sounds about right.

littlebro07 posted...

its almost as if theyre voting against their own interests

The average republican is a resident of Rock Ridge

VampireCoyote posted...

anyone thats really negatively effected by that though is gonna be in such dire straits that theyd undoubtedly qualify for financial assistance though, and likely get any taxes they paid back as a refund

the important thing is that the rich wouldnt be able to wriggle out of paying their fair share. Thing of how different our country would be if billionaires were actually paying ~20% of their income in taxes

Counter idea. Keep the graduated tax brackets and simply enact laws that close the loopholes the rich are exploiting.