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nomoreirs 
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Re: “Lincoln's fair attack on 'Fair' Tax

Over $20 million of donated money has been invested in research for The Fair Tax.

How much has factcheck.org invested in their analysis of it?

How much stake do you think Neal Boortz has in The Fair Tax? He donated more to charitable organizations in 2009 than most of us earned. He could retire tomorrow.

This is about the competitiveness of the U.S. economy.

If you like the current state of the economy then blindly oppose The Fair Tax without researching it.

If you want real change then take the effort to learn about a proposal that is designed to take power out of the government's hands and put it into yours.

Posted by nomoreirs on 09/29/2010 at 1:18 AM

Re: “Lincoln's fair attack on 'Fair' Tax

Who do you think misses the money they spend on a flat tax more?

A $40,000 earner who pays $4000 in taxes?

Or

A $400,000 earner who pays $40,000 in taxes.

As income goes up consumption goes up - econ 101.

At least with The Fair Tax the $40,000 earner has some influence over their tax rate because they can chose to spend less. And there is no marginal tax penalty.

The current income tax system started out as a flat tax, and look at what we have today.

Warren Buffet is the second richest person in the world and he had a tax rate of 17.7% in 2009. He is also setting up a foundation for his estate that will deprive the federal government of billions of dollars in tax revenue.

Posted by nomoreirs on 09/29/2010 at 1:09 AM

Re: “Lincoln's fair attack on 'Fair' Tax

couldn't be better,

According to your logic McDonald's could charge $1,000,000 for a cheeseburger and see no decrease in number of cheeseburgers sold.

All it takes is one competitor to lower prices, and everyone else has to.

Do you pay what companies want you to pay for goods? Or do companies charge what you think they are willing to pay?

Do you work for Congress? Or does Congress work for you?

I hope you think the latter for both, because that's how this government and this economy are supposed to work.

If you support the current tax policy then you want US companies to ship jobs overseas and you want your Congressional representatives to extort money out of you, pour gasoline on it, and light it on fire.

Posted by nomoreirs on 09/29/2010 at 12:58 AM

Re: “Lincoln's fair attack on 'Fair' Tax

Roland,

You are forgetting that you are paying federal income taxes on top of that sales tax you already paid. You are also forgetting about the 22% embedded tax cost that is already included in the price of everything you buy today (including homes and autos).

Fair Tax
-you make $50,000 a year
-you spend $40,000 a year
-you pay $9200 a year
-you also get a prebate up to the poverty level to cover necessary staple items. So $9200 is more than what you would actually pay.

Current Tax System
-you make $50,000 a year
-you pay $7500 in federal income tax
-you spend $32,640
-you pay $7180.80 in embedded tax costs that corporations pass on to consumers
-your total cost of the current system is $14,680.80

You can call it 23% or 30%. I don't care. Your tax bill is still lower under The Fair Tax.

Give it a shot yourself:

http://www.fairtax.org/site/PageServer?pag…

Elwood,

I welcome you to test your entrepreneurship skills. The FBI and local authorities will have plenty of time on their hands to patrol the black market since income tax evasion, of which they spend most of their time and resources, will be impossible. Don't drug dealers buy gas and food, anyway?

The Fair Tax would also only apply to new homes. I don't care what happens to the Homebuilders Association when overseas income and foreign direct investment comes steamrolling into this country. There is an estimated $10 trillion in US wealth (corporate and individual) that is sitting off shore right now for tax avoidance and investment purposes. Wouldn't you rather that money come back to the U.S. and fund the domestic economy?

Posted by nomoreirs on 09/28/2010 at 3:37 PM

Re: “Lincoln's fair attack on 'Fair' Tax

Tell these people that they can't chose their economic class.

http://articles.moneycentral.msn.com/Inves… Howard%20Schultz

Posted by nomoreirs on 09/28/2010 at 2:21 PM

Re: “Lincoln's fair attack on 'Fair' Tax

Too bad people are already paying a 22% consumption tax in the form of tax compliance costs that are passed on to consumers.

Not to mention the opportunity costs in business investment that we are foregoing due to our tax on repatriated earnings from overseas operations.

Don't believe me? Take it from the man who runs the company that is responsible for the internet and networking productivity boom.

http://www.cnbc.com/id/39346404

http://noir.bloomberg.com/avp/avp.htm?N=ce…

If you want to see a real stimulus eliminate the corporate tax on overseas profit and watch $1 trillion come back to the US and get invested in jobs and productivity enhancing projects. Sounds like a better plan than issuing debt and filling the coffers of cronie politicians.

Posted by nomoreirs on 09/28/2010 at 1:25 PM

Re: “Lincoln's fair attack on 'Fair' Tax

Learn more about The Fair Tax here:

http://www.viddler.com/explore/uttles/vide…

Posted by nomoreirs on 09/28/2010 at 1:13 PM

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