Comments on: Stimulate THIS!

By: whall

whall — Sat, 14 Mar 2009 13:22:46 +0000

BlondeBlogger – the Fair Tax replaces corporate income tax, individual income tax, payroll tax, capital gains tax, alternative minimum tax (AMT) and the death tax (aka estate tax).

Can you imagine how many REAL jobs would be created if corporations didn’t have so many taxes levied on them?

Oh, and COGS-type of purchases (goods and services used in the making of something else) would not be taxed.

By: whall

whall — Sat, 14 Mar 2009 13:20:24 +0000

Sheila CSR – my wife made me promise never to get into politics as a profession.

*sigh*. I’ll miss her…

By: BlondeBlogger

BlondeBlogger — Sat, 14 Mar 2009 07:03:57 +0000

Just signed, btw. BlondeBlogger´s last blog post..I'm Like a Ringleader...

By: BlondeBlogger

BlondeBlogger — Sat, 14 Mar 2009 07:02:16 +0000

Hmmm....am I missing it or is there nothing about repealing the unfair 'death" tax (or estate tax)? People shouldn't have their money taxed TWICE....once while they're alive and again after they die . Ridiculous. BlondeBlogger´s last blog post..I'm Like a Ringleader...

By: Sheila (Charm School Reject)

Sheila (Charm School Reject) — Fri, 13 Mar 2009 18:06:34 +0000

Vote for Whall! Sign the Petition! ::woot:: for FairTax! Sheila (Charm School Reject)´s last blog post..Bullet Style

By: whall

whall — Fri, 13 Mar 2009 16:44:13 +0000

Faiqa – I see your point, and if the petition had included a short introductory paragraph on what the FairTax was, it would help.

Like you’d expect, anything involving taxes is bound to be complicated. Could you imagine trying to summarize what Congress set out to do in 1913 by creating the Federal Reserve and the subsequent IRS?

In short, the FairTax eliminates income tax. It replaces the way the government is funded with a consumption (or sales) tax on most goods and services that aren’t basic necessities. The poor get tax prebates that would cover anything else, so the low wage earners pay no tax at all. The more you consume, the more you pay in taxes, which changes the shift of penalty — a tax on income is a penalty on earning/performance/excellence but a tax on consumption is a penalty on consumption/waste/luxury.

With no tax on used items, recycling becomes a marketable event. If you paid a high tax when buying a new fridge, but paid no tax on keeping your fridge in working order, the entire world is going to preserve more fridges, fix more fridges, recycle more fridges.

The biggest pull for me for the FairTax is that it helps rectify the fact that cheaters don’t pay taxes. Illegal Immigrants, drug dealers and fatcat tax cheats don’t pay anything into the system. Under the FairTax, we now can get money from them through their consumption.

Oh, and the FairTax abolishes the IRS.

DANGIT. I told you this was hard to summarize!

By: whall

whall — Fri, 13 Mar 2009 16:37:08 +0000

Gino, so did you sign it?

By: whall

whall — Fri, 13 Mar 2009 16:36:54 +0000

Avitable – I disagree. I don’t find petitions to be something that should explain everything about a stance – it’s to gain awareness and present, as a collective, the general opinion of a group focused on raising that awareness. Like most marketing, the shorter a petition, the better.

Now, the petition could have done a better job on informing people interested in the topic on how to get more information. That’s why I did my little preamble. I could have called it “whall the people.”

By: whall

whall — Fri, 13 Mar 2009 16:34:08 +0000

Robin – cool, that’s all I’m askin’.

By: Faiqa

Faiqa — Thu, 12 Mar 2009 03:19:06 +0000

I agree with Avi (I'm sorry, was that the sky falling?). The petition should say what the Fair Tax actually *is* in addition to what it does. My understanding is that it's a consumption tax? How do you regulate and audit a consumption tax? Wouldn't that be a massive undertaking? Other than that, I have no real objections. Faiqa´s last blog post..Daydream Believer