MW: I just came across some old but interesting "Smell Test" comments.
Does this even pass the smell test, the "fair tax"?Answers
- we're going to give everyone a gov. check
- we're going to increase the sales tax to 23 percent (which would be a tax increase for about 70 percent of people, as Mitt said, 47 percent pay none)
- and, after we send out checks to everyone and discourage spending... we're going to make more money doing it...
REALLY? REALLY?
you give the average person a $50 check and make their next TV cost $300 more and you think you will sell more and make more money?
Update: I now see the basis of selling this is to tell people who pay almost no taxes now that they will pay less when they pay 23 percent... and hoping that people are stupid enough to believe it...
this will have a HUGE incentive for people to not buy items that are much more expensive... and most will not see hardly any more real money... most that get money withheld get it back... no more of that...
Update 2: zaza... and what if they decided that the cost was a little too much and decided not to buy them as much any more? 23 percent is a pretty steep price increase
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https://s.yimg.com/wv/images/6095958...2eabbb2_96.pngBest Answer: I think the only fair tax is a progressive one. The basic cost of living is the same for everyone, but it eats up a larger percentage of poor people's incomes. The wealthy have an extremely small percentage of their income that needs to go to the basic cost of living. The wealthy should pay higher rates of taxes because they have much higher percentages of income that is disposable.
Chewy Ivan 2 · 2 years ago
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1. ONE person getting ONE PENNY back is an admission by the federal government it stole more than it was legally entitled to steal. NO ONE should ever get a tax refund.
2. A "flat tax" simply means everyone pays the same percentage of their income for the services they receive from the federal government. What is wrong with that?
3. If a person can't afford a TV set, they can't afford it. They can just buy a cheaper one or none at all.
4. 23% may be a "steep price increase" but I could afford it if I wasn't losing more than that already to the federal thieves. Instituting a flat tax eliminates the current earnings theft (tax) fiasco that no one understands.
out2lunch4now2 · 2 years ago
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No, it doesn't. It raises taxes on people who make the least. Some people have no problem with that and it may be their goal, but every time I hear something like that it seems that no one bothered to look at the side effects. For starters, 25% sales tax would not make up the revenue generated by income tax.
Mailing out tiny checks to everyone--isn't that how Bush turned a surplus into a deficit BEFORE 9-11 happened and we had a couple wars to fund without revenue? I got my $300--I think the government now owes around $1100 for giving it to me.
The tax system needs improvement, but flat sales taxes are a step in the wrong direction. If they are on final sales, they tax the percentage of a person's income that they actually spend: 100% of the poor's income, 60-90% of the middle class' income, and less than half of a rich person's income. Corporate taxes would either drop to 5% or go up, depending on whether the tax is applied to consumer sales or any sales. If it applies to any sales, it would benefit any company large enough to horizontally integrate so that it is its own supplier--giving it a huge competitive advantage over any small business that purchases products or parts.
wayfaroutthere · 2 years ago
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The fair tax already reeks. Merely calling something "fair" doesn't make it true.
Take that sales tax. Buy a tv, you pay tax. Buy stock? no tax. Or at least I've yet to see anyone who has ever proposed a national sales tax which would tax stock sales.
The only person I've seen propose that was a man who proposed a quarter cent tax on shares, as it would stabilize the market. You wouldn't buy and sell stocks to make money off minor fluctuations. The point of that tax wasn't even to generate revenue.
Would a national sales tax, tax house sales? If so, you could expect the housing market to crash and the rental market to become quite popular. Such a hit would turn the professional class into renters, as they need to move for work and the poor into owners.
Smells like New Screen Names · 2 years ago
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YES.. you biased fool
We are already giving 49% of households a gov check EVERY MONTH
That "prebate" refund every DIME the poor would pay in necessary expenses.
Yes.. sales tax of 23% .(7% already exists in most states). while getting rid of ALL corporate income taxes AND Payroll taxes = Net lower tax.. prices would NOT go up.
Plus .. people will have MORE money because there is no tax withholding !
You're totally ignorant on the Fair tax.. read up on it
Source(s):Which is it ? Do you "Hate" that some people have millions or do you hate what they can do with it?
It does nothing for them sitting in a bank account, this way it will be used !!
? · 2 years ago
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It's not about the average person. Its about the person who depends on the government to take care of them. They are the ones who will get on the bus and vote as many times as they can because their way of life is at stake,
Denniejc · 2 years ago
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I hear the words fair tax, but never anything about eliminating offshore accounts and other forms of tax evasion.
Heretic · 2 years ago
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Yes it does pass the smell test.
Why would you reject a tax that is based on what you take from the economy and favor a tax on what you contribute to the economy? That to me doesn't make sense.
Their Constitution rules them · 2 years ago
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The so-called fair tax is a right-wing pipe dream to give a massive tax cut to the wealthy. Most Americans support a progressive tax structure and this idea will never be carried out.
Easter Bunny · 2 years ago
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I like the "we're going to give everyone a government check" part. It's about time that we stopped rewarding just the lazy. Liberals claimed Obama created enough shovel ready jobs for every man, woman, and child. If you don't have a job, that just means you a racist trying to make Obama look bad.
ahandle101 · 2 years ago