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The Watercooler
Just how a lot of us are feeling
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<blockquote data-quote="AnnieO" data-source="post: 449885" data-attributes="member: 6705"><p>Keista, actually, from what I understand... the Fair Tax is based on a simple premise - those who have money, spend it on - yachts, mansions, Ferraris, etc. Those who don't buy small houses, Fords or Chevys, and if they're lucky one year they get to go out on a boat at some lake. Or rent a canoe.</p><p></p><p>Tax is proportionate.</p><p></p><p>PLUS - for those earning less than "middle class", there is a monthly "prebate" - a check that comes in, based on earnings; this helps out.</p><p></p><p>Now - the national sales tax would be 23% - BUT - no payroll tax. And prices would necessarily drop for basic items (bread, fruit, meat, dairy), and maybe go up for non-basic (pop, cigarettes, liquor, candy).</p><p></p><p>I don't think taxing what I EARN is fair, considering then they turn around and tax what I spend. Plus, with a Fair Tax - no more breaks, loopholes, corporate yada yada. No more impossible rules and no more filing once a year to pay or get back the money they shouldn't have had in the first place.</p><p></p><p>Yeah, I've done research...</p><p></p><p>Then again, I could be wrong. But this is how it is presented and I got it...</p></blockquote><p></p>
[QUOTE="AnnieO, post: 449885, member: 6705"] Keista, actually, from what I understand... the Fair Tax is based on a simple premise - those who have money, spend it on - yachts, mansions, Ferraris, etc. Those who don't buy small houses, Fords or Chevys, and if they're lucky one year they get to go out on a boat at some lake. Or rent a canoe. Tax is proportionate. PLUS - for those earning less than "middle class", there is a monthly "prebate" - a check that comes in, based on earnings; this helps out. Now - the national sales tax would be 23% - BUT - no payroll tax. And prices would necessarily drop for basic items (bread, fruit, meat, dairy), and maybe go up for non-basic (pop, cigarettes, liquor, candy). I don't think taxing what I EARN is fair, considering then they turn around and tax what I spend. Plus, with a Fair Tax - no more breaks, loopholes, corporate yada yada. No more impossible rules and no more filing once a year to pay or get back the money they shouldn't have had in the first place. Yeah, I've done research... Then again, I could be wrong. But this is how it is presented and I got it... [/QUOTE]
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