Thread: FairTax and Trade

Originally Posted by jtdc

And all tax is paid out of that income, regardless of what you call it!

So you admit we would be trading one set of paperwork for another. You may not mind, but the majority aren't sold on it.

Oh no, to both statements.

No individual has any paperwork at all.

No manufacturer has any paperwork at all.

No supplier has any paperwork at all.

No business to business transaction has any paperwork at all.

The only companies or entrepreneurs who have anything at all to do under the FairTax are Retailers, businesses who sell new products and services directly to consumers in the US.

There's about 6 million entities who will be filing very simple sales tax reports under the FairTax versus over 200 million filing complex returns under the income tax.

The Retailers provide 1 piece of information from their business, gross sales to consumers, they do 2 calculations, 23% which is the FairTax they collected, less their 1/4 of 1% fee, which they deduct from the FairTax they collected. That's it. 4 numbers. Two lines on their state sales tax form in 45 states and on a FairTax form if their state doesn't have a sales tax. You write out a check and mail it in. They'll probably set up on-line reporting and payments.

It will easier and more fun sending in the FairTax (OPM) than paying their utility bill (their own money).

The Sales Tax Bureau will report monthly to the public how much was collected, everyone can check it monthly like they check the unemployment rate. And maybe, just maybe, someone can get the Treasury Department to also report how much the government spent that month, so we can check revenue against expenses of our government on a monthly basis just like any good responsible business and enterprise does.

It will be fabulous! It will put Congress under enormous pressure to produce good numbers, to get their affairs in order so we're in the black (surplus) instead of in the red (deficits) each month. There's just so many more advantages to the FairTax than people like you and your cohort FairTax-Haters can comprehend.

It's not your faults, you're just victims of greater arrogance than education. It happens.