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View Full Version : Economics In place of class warfare: Would this tax plan work? Why or why not?


chris
10-17-2008, 05:07 PM
I've been meaning to explore this site: www.fairtax.org

Someone on CP bought it up.

Looks interesting.

"What is the FairTax?
The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including:

A progressive national retail sales tax.
A prebate to ensure no American pays federal taxes on spending up to the poverty level.
Dollar-for-dollar federal revenue neutrality.
Repeal of the 16th Amendment through companion legislation."

Anyone knowledgeable about maco economics?

Intelligent comments welcome. Posters complaining about "better not taking my beer money away" go elsewhere and have a beer. :)

Rain Man
10-17-2008, 06:00 PM
Quick process question: how do you implement a progressive sales tax?

headsnap
10-17-2008, 06:03 PM
Quick process question: how do you implement a progressive sales tax?
by the crystals implanted in our palms.




watch out for the Sandman!

Dave Lane
10-17-2008, 06:17 PM
Its basically a flat tax with a rebate option. Some quote about lipstick on a pig to be inserted here.

Dave

Saggysack
10-17-2008, 06:52 PM
FairTax(consumption tax) is a raise in taxes for the middle class(consumers). Worst tax idea imaginable IMO.

http://www.factcheck.org/taxes/unspinning_the_fairtax.html

chris
10-17-2008, 07:31 PM
FairTax(consumption tax) is a raise in taxes for the middle class(consumers). Worst tax idea imaginable IMO.

http://www.factcheck.org/taxes/unspinning_the_fairtax.html

So if I spend $80,000 on a car and pay $24,000 in tax (30%) A college student spends $10,000 and pays $3,000.....how is that a bad idea?

Right now, I buy the same car and pay ~~$5,000. Greater consumption is more tax.


What am I missing?

tiptap
10-17-2008, 07:39 PM
food and gas personally and funding for the government realistically. Also the timing is tricky. You can't just move from one to the other without a two years of taxes or one year of non funding of the government.

penchief
10-17-2008, 09:08 PM
food and gas personally and funding for the government realistically. Also the timing is tricky. You can't just move from one to the other without a two years of taxes or one year of non funding of the government.

Class warfare has been waged for the past 28 years. It's called trickle down economics and deregulation. Restoring balance to the system is all that will be required.

J Diddy
10-17-2008, 09:11 PM
Seems that it could harm the economy.

Adept Havelock
10-17-2008, 09:16 PM
by the crystals implanted in our palms.




watch out for the Sandman!

Lastday, Aquarius 23. Carousel begins.