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Agreed, the FairTax isn't a tax cut for any but the super rich and it isn't fair.
I don't get how conservatives think that tax cuts are something for nothing. There was a piece in the AJC just recently, asserting that tax cuts are a guaranteed way to stimulate the economy and thereby INCREASE government revenues. What this line of argument appears to overlook is that there have already been a lot of tax cuts in the last few decades, so we're approaching the argument that if you reduce taxes to ZERO you'll collect MORE money to provide essential government services.
That conservative columnist, Wooten (?) in the AJC is all keen on how doing away with the ad valorem tax will be a wonderful savings to 'most every Georgia family. So if we're all going to save hundreds on our taxes, on which government services are we planning to spend hundreds less, per family? Oh right, I forgot, the conservatives want to make our schools so underfunded lousy we'll all send our kids to private schools -- which cost more in tuition than we currently spend through our taxes on the public schools. That's really going to make Georgia families better off. And as for the poor, we'll give them vouchers for a fraction of the cost of private school tuition, and somehow the private sector will spring forth and educate their kids wonderfully.
And conservatives think socialists have their heads in the clouds....!
People need to understand that everyone but the very rich spends almost 100% of their money every year just to live - to pay bills, to eat, even to recreate if they are so fortunate.
That's a sad comment. I was saving money when my salary was below $20k a year. I've always invested and saved money at every point in my working life and never carried any credit card debt. It's called living w/in your means which seems to be something a lot of people can't grasp.
The current tax system certainly isn't something to be all smiles about.
That's a sad comment. I was saving money when my salary was below $20k a year. I've always invested and saved money at every point in my working life and never carried any credit card debt. It's called living w/in your means which seems to be something a lot of people can't grasp.
You've got to be kidding me. Just because you don't have credit card debt and have always managed to put a little away doesn't mean you're not spending 100% of your income. Retirement savings don't count, either. I'm talking about people who make more than probably anyone on this forum and get a lot of it from investments.
Hell, I fit WELL above that limit PeteyNice said married people have to make to see a benefit from this shifty FairTax idea. Hell, I SAVE money and, yes, I don't have credit card debt.
But I don't fool myself. I'm not rich. And just because the current system is a burden to the middle class doesn't mean I want to switch to a DIFFERENT burden to both the middle and lower economic classes.
And I'm sorry GT but neither of those links are convincing. Until I see real world data...I aint buying the snake oil.
Hey, once upon a time, people thought socialism was a good idea. Because, heck, on paper it IS! And it's not what most people think... But you know what? It didn't work because it allowed too much corruption of power.
Until I see the snake oil in it's own version of a clinical trial I will stick with the current broken system.
I'd rather see the progression of the current tax system broken up in to more fine steps so that the middle class isn't so heavily burdened and where it's NOT shifted to the lower classes....
If federal govt. spending and involvement was cut down to what was originally intended in the Constitution (which was practically nothing) then this would be a moot point and the income tax would not be needed. Eliminate the income tax and do not replace it with anything. Of course, the federal reserve would have to be eliminated, as the two are inter-related in many ways (came out the same year, 1913, income tax paid the federal reserve for what it charges the government). Though, under a flat "fair" tax based on a sales tax, I'd pay nearly nothing...
Well...not sure if this thread should have been merged since ours was about Georgia state income taxes...not Federal.
Hey, that's an idea, though...if Georgia is planning on replacing its STATE income tax with a 23% (fact check needed here but this might be close) sales tax....what happens if the fed decided to replace its income tax collection with sales tax? What would the overall sales tax be THEN?
This all started because slimy Glenn Richardson wanted to get rid of property taxes. Well, as someone who moved to a higher property tax district deliberately because I wanted the services that went along with that, especially schools, I have a problem with this because it removes MY power as a taxpayer. I want local control over my tax money. I want the ability to RAISE them via a vote for local services. Removing these taxes would take away my control.
Luckily school boards across the state had BIG problems with this, as well as the Georgia PTA. So, he couldn't get it passed and had to settle on faking out GEorgians by switching the ad valoren taxes on cars to a sales tax. Tax shift is not a tax cut and it's a loss of control. I was against this, too. But these "Republicans" set the whole thing up like they were actually cutting the tax.
Someone asked why it's always Democrats who are against FairTax. I believe that was a loaded question designed to imply that Democrats fit a low-income demographic - either young or just poor. Well, I'm not poor. I'm in the upper middle economic class and I'm still rather new in my career...so I've got plenty more earning potential to go. And I tend to vote Democrat.
I just don't trust that this FairTax scheme won't burden the poor. And I don't trust that it won't burden the middle class. And I am suspicious that it will reduce the taxes of the wealthy. The whole rich getting richer while the middle class becomes poor and the poor go to ground.
Rep. Linder introduced the Fair Tax bill into the House and Sen. Chambliss in the Senate. This will in effect eliminate federal income tax, death taxes, capital gains taxes and payroll taxes in lieu of a 23% federal sales tax.
This bill has gained some more momentum including 21 bipartisan co-sponsors and former House Majority Leader Tom Delay; even the charismatic support of the likes of Neal Boortz. Even the White House Council of Economic Advisors said it would improve tax system efficiency.
What do you guys think of this? Do you think it will pass?
No more tax returns or payroll deductions, but you'll be paying more for goods and services.
plessthanpointohfive, the above was the original posting in this new thread, it is not oriented towards Georgia taxes, it is about the federal taxes.
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