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Scrap the income tax! [message #151268]

Sun, 24 April 2005 18:28

Hydra
Messages: 827
Registered: September 2003
Location: Atlanta, GA

Karma:

Colonel

On the issue of outsourcing: if you want to stop businesses from outsourcing jobs to foreign countries, eliminate minimum wage laws.

Now, to bring the thread back on topic...

"The Facts About The FairTax" brochure

Price Stability
It may seem surprising that a sales tax of 23% won't raise prices, but it makes sense. Today, companies pass on their tax and compliance costs to consumers. Those costs are hidden in the price of everything we buy.
With the FairTax, businesses will no longer have any federal taxes to pay, will no longer have to devote money and manpower to compliance, and won't pay tax on the purchases they make (because the FairTax applies only once to the final purchase of goods and services). That savings will dramatically lower the costs of production in this country, keeping tax-inclusive prices at about where they are today.
In fact, Dr. Dale Jorgenson, Chairman of the Economics Department at Harvard University, has projected an average producer price reduction of 20% in the first year after adoption of the FairTax. That means that retailers will be able to maintain their current profit margins while lowering prices to consumers.

SuperFlyingLiberalTool

All you've said is that an "embedded" tax would be removed because of the removal of income tax from companies. Would the prices of products really drop more than 23% before this new sales tax is applied? Somehow, I doubt that.

Dr. Dale Jorgenson doesn't.

Quote:

And if adding a 23% sales tax to all products results in the overall cost of products going down, where does the government get its' money?

If by asking, "Where does the government get its money?" you are asking how the government will be funded, the answer is from the sales tax gathered from the purchase of all new goods and services.

I must not be understanding your question clearly, because what you seem to be asking has already been answered in this thread.

j_ball430

The largest spenders are not always the ones with the biggest incomes. Take for instance a family with several kids. They probably only make maybe $30,000 - $40,000 a year and have to support their kids. This FairTax plan will hurt them substantially. You said that there would be special rebates on necessities for this kind of situation, but I don't see how that will change much if anything at all.

Single parent with two children making minimum wage
Annual income: $10,712
A couple living solely on Social Security
Annual income: $25,944
Married couple with two children
Annual income: $32,136
Single mother with two children and mortgage
Annual income: $45,000
Married couple with two children and mortgage
Annual income: $65,000
Married couple with two children and a homeowner
Annual income: $100,000

All the previous links were found on this page.

How does the rebate work?

After reading all that...

j_ball430

This FairTax plan will hurt [the family with several kids] substantially.

How so?

Walter Keith Koester: September 22, 1962 - March 15, 2005
God be with you, Uncle Wally.

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[Message index]

		Scrap the income tax! By: Hydra on Wed, 25 August 2004 16:33
		Scrap the income tax! By: Crimson on Wed, 25 August 2004 16:46
		Scrap the income tax! By: SuperFlyingEngi on Wed, 25 August 2004 17:04
		Scrap the income tax! By: Hydra on Wed, 25 August 2004 17:28
		Scrap the income tax! By: SuperFlyingEngi on Wed, 25 August 2004 17:36
		Scrap the income tax! By: Hydra on Wed, 25 August 2004 17:45
		Scrap the income tax! By: SuperFlyingEngi on Wed, 25 August 2004 17:47
		Scrap the income tax! By: Hydra on Wed, 25 August 2004 17:58
		Scrap the income tax! By: SuperFlyingEngi on Wed, 25 August 2004 18:04
		Scrap the income tax! By: NukeIt15 on Wed, 25 August 2004 18:53
		Scrap the income tax! By: Hydra on Wed, 25 August 2004 19:35
		Scrap the income tax! By: NHJ BV on Thu, 26 August 2004 03:26
		Scrap the income tax! By: ViperFUD on Thu, 26 August 2004 04:51
		Scrap the income tax! By: Hydra on Sat, 16 April 2005 20:31
		Scrap the income tax! By: Jecht on Sat, 16 April 2005 21:02
		Scrap the income tax! By: msgtpain on Sat, 16 April 2005 21:09
		Scrap the income tax! By: Hydra on Sat, 16 April 2005 21:17
		Scrap the income tax! By: IRON FART on Sat, 16 April 2005 23:01
		Scrap the income tax! By: Doitle on Sat, 16 April 2005 23:01
		Scrap the income tax! By: cheesesoda on Sat, 16 April 2005 23:12
		Scrap the income tax! By: Jecht on Sun, 17 April 2005 09:48
		Scrap the income tax! By: Crimson on Sun, 17 April 2005 14:53
		Scrap the income tax! By: IRON FART on Sun, 17 April 2005 15:31
		Scrap the income tax! By: msgtpain on Sun, 17 April 2005 15:53
		Scrap the income tax! By: Hydra on Sun, 17 April 2005 19:27
		Scrap the income tax! By: Crimson on Sun, 17 April 2005 20:17
		Scrap the income tax! By: IRON FART on Sun, 17 April 2005 21:17
		Scrap the income tax! By: msgtpain on Sun, 17 April 2005 22:36
		Scrap the income tax! By: Crimson on Sun, 17 April 2005 23:19
		Scrap the income tax! By: Fabian on Tue, 19 April 2005 05:56
		Scrap the income tax! By: MrBob on Tue, 19 April 2005 07:23
		Scrap the income tax! By: Jecht on Tue, 19 April 2005 07:40
		Scrap the income tax! By: IRON FART on Tue, 19 April 2005 16:59
		Scrap the income tax! By: Hydra on Wed, 20 April 2005 07:23
		Scrap the income tax! By: SuperFlyingEngi on Wed, 20 April 2005 14:04
		Scrap the income tax! By: Jecht on Wed, 20 April 2005 14:25
		Scrap the income tax! By: Crimson on Wed, 20 April 2005 15:36
		Scrap the income tax! By: SuperFlyingEngi on Wed, 20 April 2005 16:16
		Scrap the income tax! By: Hydra on Wed, 20 April 2005 17:16
		Scrap the income tax! By: SuperFlyingEngi on Wed, 20 April 2005 18:18
		Scrap the income tax! By: cheesesoda on Wed, 20 April 2005 18:32
		Scrap the income tax! By: msgtpain on Wed, 20 April 2005 18:38
		Scrap the income tax! By: Crimson on Wed, 20 April 2005 21:47
		Scrap the income tax! By: IRON FART on Thu, 21 April 2005 15:23
		Scrap the income tax! By: Jecht on Thu, 21 April 2005 17:39
		Scrap the income tax! By: Deathgod on Fri, 22 April 2005 15:12
		Scrap the income tax! By: Crimson on Fri, 22 April 2005 19:14
		Scrap the income tax! By: Deathgod on Fri, 22 April 2005 19:33
		Scrap the income tax! By: MrBob on Sun, 24 April 2005 13:20
		Scrap the income tax! By: msgtpain on Sun, 24 April 2005 14:49
		Scrap the income tax! By: warranto on Sun, 24 April 2005 14:56
		Scrap the income tax! By: Crimson on Sun, 24 April 2005 16:47
		Scrap the income tax! By: MrBob on Sun, 24 April 2005 17:34
		Scrap the income tax! By: Hydra on Sun, 24 April 2005 18:28
		Scrap the income tax! By: msgtpain on Sun, 24 April 2005 19:53
		Scrap the income tax! By: Doitle on Mon, 25 April 2005 05:17
		Scrap the income tax! By: Deathgod on Mon, 25 April 2005 16:32
		Scrap the income tax! By: Sir Phoenixx on Mon, 25 April 2005 19:59
		Scrap the income tax! By: msgtpain on Mon, 25 April 2005 20:34
		Scrap the income tax! By: Oblivion165 on Mon, 25 April 2005 22:30
		Scrap the income tax! By: Deathgod on Tue, 26 April 2005 15:59

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