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Old 02-27-2010, 06:20   #5
Don
Quiet Professional
 
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Join Date: Mar 2006
Location: Jaw-Juh (that's "Georgia")
Posts: 887
For the longest time I have not thought about the tax code. Just looked at it as my duty as a citizen until I realized my required duty is quite a bit higher than others. My Dad would continually rant about how much he had to pay each year (BTW…he was a retired MSG with three kids and a stay at home Army-Wife, just to give some perspective on our social/economic status. We didn’t come from money).

In the current system you bust you’re a$$, become successful, and BAM…you are punished for your work. I mean, in comparison, my brother in law has not held down a job in over a decade where he has paid federal taxes. If he has…it is EXTREMELY minimal. He works as a day laborer, and gets his earning “under the table”. Every year though, he drags home $5000 in a tax refund. WTF??? How can you be refunded more than you paid?

Now, there are folks proposing an alternative to the current system, which is so complicated you need to hire an interpreter (read: tax lawyer) or count on the programming of turbo tax to get your taxes done. The current tax system is so cumbersome and unfair, most folks don’t like it anyway. I would wager that more folks would oppose this current tax system than healthcare if it was a bill they were trying to pass right now. I mean, the folks proposing it would be run out of town on a rail.

I have read about the fair tax, and have yet to hear an argument over how it will not work better than what we have.

What I see in regards to the acceptance of a fair tax is that it is a BIG change to the status quo. But no less a big change than when the 16th amendment was ratified in 1913. If it is the duty of the citizen to fund the Government, then all should do their fair share. Here are some of the benefits:

1. ALL people (not just citizens) pay.
2. ALL earnings, regardless if "under the table" or not are susceptible to tax...because when you buy...you are taxed. We would be non-discriminatory over who would have to pay.
3. Big business would return to American shores since there would be no corporate taxes. All that money in foreign accounts would return since there would be no penalty to bring it in. How would an estimated 1 trillion dollar infusion in the banking system look right about now? That is the guesstimated amount of corporate earnings sitting in foreign accounts. What about other foreign corporations that currently stay away due to the expense of doing business in the US?
4. Price of goods would not appreciably inflate because the current prices include embedded taxes at all phases of production (corporations do not pay taxes…it is passed on to you).
5. The more consumption, the better revenue…as well as opportunity for business.

I am by no means an expert in the fair tax…but have done a bit of reading on the subject. Why does the fair tax sound like a win/win, but is ignored as an extremist/whacko position?

Last edited by Don; 02-27-2010 at 06:39.
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