RadioBanter - View Single Post - Financial wealth, or JUST WHO SHOULD PAY FOR ALL OF THIS?

RD Sandman

Gray Ghost wrote in
. 97.142:

gfn wrote in news:1394cfb3-097e-43d7-aadb-
:

On May 24, 3:00*pm, RD Sandman wrote:
gfn wrote innews:fafaebf4-7788-4906-a699-
839c2c5dac6b@
s2g2000yql.googlegroups.com:

On May 24, 2:34*pm, RD Sandman
wrote:
gfn wrote
innews:5111f00d-80ed-4513-9bae-c9a63b5cdb40@
x3g2000yqj.googlegroups.com:

On May 24, 1:23*pm, RD Sandman
wrote:
gfn wrote in
news:75946acf-fb50-4a71-9677-e0b1afec14b0
@w19g2000yql.googlegroups.com:

On May 24, 11:24*am, John Smith wrote:
On 5/24/2011 8:20 AM, gfn wrote:

* ...

Where are some credible souces to back up any of that
innuendo
you
keep
attempting to push?

Truth is, sure looks like the wealthiest 1% are not paying
42%
of all
of
governments costs, and sure looks like the top 19% are not
paying half of governments costs, until that happens they
are
NOT paying their
fair
share ... a flat tax can fix that ...

Regards,
JS

I already said the tax data is at irs.gov

Now, as for a flat tax I agree with you 100%. *The one I
advocate is the FairTax.

That is not a flat tax, it is a sales tax.

It's a sales tax but it is flat. *It's a flat 23%.

You had better spend some time learning what a flat tax is.

I'm perfectly familiar with a flat tax.

Not sure about that since it has nothing to do with sales.

Sure I do. The "flat tax" has the government deriving its revenue
from the income tax. The FairTax is related because it is a flat sales
tax that generates revenue from sales. It replaces the income tax as
the method of funding government. If you fully understand the FairTax
you will see exactly where I am coming from.

* The FairTax is a replacement

for the income tax.

Yes....and a flat tax is another method of figuring income tax.

Yeah....and they both accomplish the same thing. The FairTax is
better because a flat tax still involves taxing income which then
leads to exemptions, deductions, and keeps the 16th amendment in place
as well as the IRS, and I can go on and on about the pitfalls of our
current tax system.

*It uses a flat 23% as the revenue generator.

Call it what you will, the FairTax is a winner.

You may think so. *I don't. *I think it needs too many adjustments so
that it does not become regressive.

I don't think so, I know so. Tell me how this is regressive?

Current tax system:

Taxpayer earns $1000 a year.
IRS takes 25%: $250.
Taxpayer has $750 left to spend.
Taxpayer buys a new toaster for a FINAL total of $130.
Taxpayer has $620 left.

Fairtax system:

Taxpayer earns $1000 a year.
IRS takes 0%: $0
Taxpayer has $1000 left to spend
Taxpayer buys a new toaster for a FINAL total of $130.
Taxpayer has $870 left.

I'll go one better under the fairtax system.

Taxpayer earns $1000 a year.
IRS takes 0%: $0
Taxpayer has $1000 left to spend
Taxpayer buys a USED toaster for a total of $100.
Taxpayer pays NO fairtax sales tax.
Taxpayer has $900 left.

So, again, how is that regressive.

Three suggestions for you to find out why as well as any other
questions you might have:

1) go visit fairtax.org and read it from front to back. Pay
particular attention to the FAQ.
2) Buy and read "The FairTax Book" by Linder and Boortz.
3) Then buy and read "FairTax:The Truth: Answering the Critics"

It will all become crystal clear.

--
Sleep well tonight....RD (The Sandman)

If you woke up this morning....
Don't complain.

Taxing income is wrong anyway. You are stealing the fruit of ones
labor,
like a lord of the old days taking 20% of your harvest. Yer a pinko.

No tax on income. Tax imports, outsourced jobs and Democrats.

LOL!!

--
Sleep well tonight....RD (The Sandman)

If you woke up this morning....
Don't complain.