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Geechie, the bill pretends that it is not regressive with a coupon system which require ANOTHER government agency to run. Even with that, it is still regressive because it lessen the burden of the riches and someone still has to pick up the bill. You see Tom is ignoring my post.
Geechie, the bill pretends that it is not regressive with a coupon system which require ANOTHER government agency to run. Even with that, it is still regressive because it lessen the burden of the riches and someone still has to pick up the bill. You see Tom is ignoring my post.
A coupon system!!!
WTF???
Is this the Government Of The United States, or some damned merchandise game sponsored by General Mills Cereal?
But still, any system based on a sales tax structure IS by definition regressive, and that is that.
[quote=JimmyCh;15987296]When you are a seller of a good, you have incentive to help buyer cheat. The fair tax act is not complete because it just dump the tax collection on the states without further explanation (am I wrong)? So states have to hire people to get the federal money? Who is going to enforce the penalty? States or the Federal government. We already have a federal agency in place to enforce the law, it is the IRS they will need something to do when the current system is gone, I alread addressed the collection aspect, only two states would have to add anything at all....
The current rate purposed is 23% for all sales. You can do a estimation and you will realize it requires 34% to maintain current federal government income. So you come up short first year, let the government borrowing more money. I didn't calculate the rate, several renowned economists did that, I trust them more than you, you are probably calculating it as an exclusive rate instead of inclusive........
How about I buy my LV bags over-sea, wait I evade fair tax...California has very serious problem of small business not paying their collected sales tax, and a lot states actually hired private contractors for the collection. You want to mix government with private collection agency, be my guest. If you buy something outside of the country you pay import duties at the border that doesn't change, you actually pay more this way since import duties are higher than the inclusive tax rate.....
The tax is regressive because it tax everything. Yes, it has a coupon system. Guess what, you will need a new agency to give out the coupons. Maybe we can re-hire IRS to do the job. By the way, even with best estimation, you are still shifting tax burdens to the middle income because riches pay less even if they don't cheat.We already have an agency to take care of this it is called the IRS, they will need something to do. It taxes everyone evenly above the poverty line, the poor pay NO taxes at all and the middle class only pay taxes on what they spend above that.....[/quote]
Is this the Government Of The United States, or some damned merchandise game sponsored by General Mills Cereal?
But still, any system based on a sales tax structure IS by definition regressive, and that is that.
It doesn't use a coupon system it has a prebate system that sends out the taxes you would have to pay up to the poverty level to everyone, if you read the bill you would know this.....
Yes, prebate if you want to call it. So which agency is going to be managing that...you first need to know individual income level and then process your so call prebate (coupon or rebate :P). I call it coupon is because it is like an all purpose cash coupon from the Federal government.
Yes, prebate if you want to call it. So which agency is going to be managing that...you first need to know individual income level and then process your so call prebate (coupon or rebate :P). I call it coupon is because it is like an all purpose cash coupon from the Federal government.
The prebate is the same for everyone, it would be administered by the same agency that now handles taxes, it would be handled just like your tax refunds, direct deposit......
If you actually read the bill you would know that the prebate is based on the national poverty level, you get a prebate for all taxes on goods up to that level, therefore you are only taxed on anything you spend above the necessities of life.....
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