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This bill is a tax reform proposal that imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income and corporate income tax, employment and self-employment taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2019, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property, for property or services purchased for business, export, or investment purposes, and for state government functions.
Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines.
Being considered currently in Congress:
Opinions?
Being considered currently in Congress:
Opinions?
It's a stepping stone to universal income control. In time, under a system like this, all income would be filtered through the government and individuals would be given vouchers for whatever is deemed a "necessity". We'd be the Soviet Union in a matter of years.
It's a stepping stone to universal income control. In time, under a system like this, all income would be filtered through the government and individuals would be given vouchers for whatever is deemed a "necessity". We'd be the Soviet Union in a matter of years.
Not to mention the social engineering regarding purchases. Have something "deemed" not socially acceptable, raise the tax on that item, get some good campaign contributions from an industry group, well lower the tax on their products.
they already do that now I don't see you complaining. they are called sin taxes.
Being considered currently in Congress:
Opinions?
Yes they do already do it but to a limited extent and I can complain about sin taxes if you like. But a "fair tax" (I do so love me Orwellian Doublespeak) opens the door to everything being easily manipulated.
only if we allow them to do it. the fact is if they attempt to adjust the rate it is clear and is very much noticeable. any manipulation of the system would be quite noticeable as well.
they can't hide behind 100k's pages of tax code.
I'm not convinced it won't discourage consumption.
I admit I didn't read the details of the bill, only the summary, but it sounds fair to me. Be taxed on what you purchase or services? Why would that be a bad thing for people in the lower and middle class?
they can do that under the current system.
right now though.
the fair tax actually helps working people and lower income people. for poor people they get net income back. they are able to save and possibly invest and on top of that
they will have their full disposable income.
they are more apt to buy used items rather than new so they wouldn't pay tax on that either.
The problem is that they can't afford to spend it to get it back. I haven't read this "fair tax" bill but the last one had a complicated system of prebates and as bad as that was having rebates is even more unworkable for the poor.
I'm not convinced it won't discourage consumption.
Because they are required to spend more of thier income so it becomes a regressive tax
no it isn't. pay roll taxes are more regressive than sales tax is.
only if it is treated at a higher rate than investment income and long term capital gains . If the income from payroll and the income from capital gains were treated the same, then it would not be regressive.
Being considered currently in Congress:
Opinions?
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