tag:blogger.com,1999:blog-3776665703590564248.post4167917053767505229..comments2024-03-27T01:57:19.605-04:00Comments on Return To Excellence: FairTax Interview - Home News TribuneReturnToExcellence.nethttp://www.blogger.com/profile/18149859814999976879noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3776665703590564248.post-42760611268530949542010-12-20T18:59:49.847-05:002010-12-20T18:59:49.847-05:00Seeker is attempting the old NPR trick of raising ...Seeker is attempting the old NPR trick of raising an emotionally charged case, here a child with leukemia, and then asking the reader to extrapolate. My father, who was a successful attorney, said often, "hard cases make bad law." Better policy is to legislate to the norm, not to the exception.<br /><br />Seeker's argument that the FairTax is regressive is based on a widely-held misconception about family resources. People tend to look at resources through a one-year window. That approach is wrong.<br /><br />Economists consider average remaining lifetime resources of any family unit, and then discount them back to present value. With this approach, it becomes clear that the FairTax benefits lower and middle-income people disproportionately.<br /><br />There are several reasons for this result. First, the FairTax eliminates the two most regressive taxes that exist today: the payroll tax and the tax costs built into the price of every good one buys and service one uses. These costs burden the poor disproportionately.<br /><br />Under today's tax system, people experience welfare loss as they move away from the Earned Income Credit. The FairTax replaces the EIC with a prebate, which eliminates that unfair result.<br /><br />Finally, the FairTax is a wealth tax. All wealth, on a first-in first-out basis, is consumed over time. It is just a question of when. The FairTax gets at wealth when it is consumed. The Income Tax and FICA Tax do not.<br /><br />Positive dynamic effects of the FairTax help the poor yet further.<br /><br />For a discussion of why governments should pay tax, see the following link posted on this blog on November 9,2010:<br />http://www.returntoexcellence.net/2010/11/congressman-elect-woodalls-idea-of.html<br /><br />By the way, Seeker, the parents of the leukemia-stricken child will probably be forced into bankruptcy today anyway. The FairTax removes the tax disparity that leads to today's out-of-control healthcare costs. The FairTax makes it more likely that the child's parents will survive financially.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3776665703590564248.post-34408508598764598742010-12-19T14:48:52.614-05:002010-12-19T14:48:52.614-05:00The Income Tax system is a psychotic legal system ...The Income Tax system is a psychotic legal system and only gets worse year after year after year. <br /><br />Citizens and businesses of this country spend close to 140 Billion Dollars a year and spend <br />7 Billion Hours in attempted tax compliance. <br /><br />The Income Tax code itself is 70,000 pages of arbitrary and contradictory laws and opinions.<br /><br />This plus at least a million more pages of Revenue Rulings, Letter Rulings, Tax Memorandums, Tax Publications, Tax Court, Federal Court and Supreme Court Opinions that are written in an effort to explain the mind numbing Income Tax code.<br /><br />Most personal, financial and business decisions all have to take into account the Income Tax system and generally require assistance from tax accountants and lawyers who themselves do not even understand the Income Tax code. <br /><br />This is no way to fund a government and unless something is done, like instituting the Fair Tax, this Income Tax system is going to continue to wreak havoc on the US economyscottgreenehttps://www.blogger.com/profile/13890076830959622167noreply@blogger.comtag:blogger.com,1999:blog-3776665703590564248.post-61773244927846928252010-12-19T13:41:20.886-05:002010-12-19T13:41:20.886-05:00Sorry to burst your bubble, but Fairtax is a giant...Sorry to burst your bubble, but Fairtax is a giant farce. Oh it sounds great, I used to be a big fan.<br /><br />http://fairtaxhoax.blogspot.com/<br /><br />Then I noticed some odd things -- like hidden in their fine print are massive new taxes. Like how the "prebate" works and what it costs.<br /><br />I started to ask some questions. <br /><br />Sadly, Fairtax leaders have knowingly distorted the FUNDAMENTALS. It's not even a tax on people as much as it is (in their fine print) a massive new tax on city and state governments.<br /><br />Forget for a moment if that is even possible, why on earth would they hide this massive new tax in their fine print?<br /><br />Many well meaning people have been suckered into this farce - not one of them realize the fine print in Fairtax is drastically different than their hyped plan. The plan they brag about in their web pages and headlines is nothing like what appears in their fine print.<br /><br />Plus, the nonsense about "untaxing the poor". That could not be more false. First, there are NO exceptions. None. Absolutely none. No exception for rent, or medical cost, or cancer surgery, none. For anyone.<br /><br />Which may sound great, but remember, Fairtax math is actually based on this "principle". No exceptions. <br /><br />So the parents of a child with leukemia MUST pay -- no exceptions -- the world's highest sales tax on their child's chemo and surgery.<br /><br />What if they only make 20K a year? Fairtax insists SOMEONE must pay that tax. There math is absolutely based on it. If that person (or someone) does not pay it, then Fairtax collapses, they admit themselves.<br /><br />If there are ANY exemptions, Fairtax leaders have said, for ANY thing, then it's not Fairtax.<br /><br />If the GOVERNMENT pays for the cancer surgery, then the government must pay the tax. If the Pentagon pays for a soldier's health care, then the Pentagon must pay the tax. There simply are NO exceptions AT ALL.<br /><br />But the government paying itself is pure nonsense, it creates nothing. Fairtax math pretends it's income to the federal government.<br /><br />The "prebate" was supposed to cover all that. But the prebate is 200 a month. That's it. That's all it is, ever. It does not go up if you have cancer. It's 200 a month, period.<br /><br />Even that would cost 600 billion a year -- and Fairtax has never explained how they will pay for that. But the 200 a month per person will not begin to pay for the taxes on the health care of cancer victims, or ALS patients, or whomever.<br /><br />Fairtax is a farce. It's not sort of a farce, its not kind of a farce, it's complete and utter nonsense. It's own leaders know it.<br /><br />http://fairtaxhoax.blogspot.com/Seekerhttps://www.blogger.com/profile/10206503506011763393noreply@blogger.comtag:blogger.com,1999:blog-3776665703590564248.post-88771625882648626132010-12-14T17:52:29.186-05:002010-12-14T17:52:29.186-05:00Doug, I loved the way you made all the points i...Doug, I loved the way you made all the points in the interview simply and clearly. I could feel that the interviewer got the message well. Good job.<br /> <br />Thank you for the Christmas video. It was soul-stirringly beautiful. I will share it with many others.Anonymousnoreply@blogger.com