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Re: Letter to the editor: Re: MICRO 

By: micro in POPE 5 | Recommend this post (2)
Mon, 10 Jun 19 6:14 PM | 25 view(s)
Boardmark this board | Pope 5 		Msg. 33739 of 62138
(This msg. is a reply to 33735 by hydro_gen)
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Hi again Hydro-gen.

Okay, so I went to the site and looked. I then have pondered in my mind a few things.

I have a couple of conclusions I came to myself.

The STATE, has a sales tax already on almost everything we buy except food. So in my State, county, I pay 6.75% on every dollar I spend. I do not see the state sales taxes going away. Those are in addition to what this so called FAIR TAX would be.

I see nothing "FAIR" about it. It drives my costs up to purchase things.

The truth is that what should really happen is that Trumps tax plan was a GOOD start. It simply needs additional refining and in my opinion some tax reductions in brackets, especially tghose who are making household income less than 100 grand a year..

As a former manufacturer, I can assure you that the companies are NOT going to make any less money and if you think prices are going to come down, I have a few bridges that cross the Ohio river for sale....

That is pie in the sky dreaming. What drives down consumer prices is COMPETITION. Corporations are in business to churn out profits and next years profit should be more than the curent year to keep year over year reports and investors happy. One cannot keep prices suppressed and increase the profit year over year.

Whiole I admire the attempt to come up with what is "deemed" FAIR by Congress Critters who recdeieve a very healthy pension plan for no other reason than being elected, ANY congress critter never saw a chance for gettingm ore money from the opublic that they did not like... That is what reality has proven to be over the years and I am confident that you can check that out...

Looking at the information, I would be paying a lot more money than I am currently. I already pay TOO much and this opens up pandora's box especially when a bunch of free spenders are the majority of congress critters.
The name sounds great. The 23 percent is deplorable.

I would just as soon revise what the President STARTED and Congressional Rinos altered and simply reduce the feeral income tax burden on people.

I think we want the same thing. I believe that this plan is too idealistic and will be explouted and then we the people get stuck paying out MORE and have no recourse after it is done. And the GUBMINT is not in the habit of giving things back because they like to spend way too much....

This is just how I see it... Your view is certainly free to see it differently. No problem there. I would personally not be in favor of this as it is presented.

However, that is what America great. We can have differing viewpoints and discussion...

Thank you for this interesting topic..

micro... Thumbs Up


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The above is a reply to the following message:
Re: Letter to the editor: Re: MICRO
By: hydro_gen in POPE 5
Mon, 10 Jun 19 4:34 PM 		Msg. 33735 of 62138

Micro:

PLEASE visit http://www.fairtax.org as they have ALL of the answers to your questions and have put a lot of effort into this. It is HR 25 if interested here is the link: http://www.congress.gov/bill/116th-congress/house-bill/25

#1 a flat tax does NOT eliminate the IRS or repeal the 16th Amendment.

#2 EVERYONE pays the SAME taxes based on their spending - not based on their income.

#3 The currently embedded taxes in the multiple layers of cost of goods and services are removed thus lowering prices = WIN for ALL Americans! Estimates are .22 per $1 just in tax compliance costs!!!

Below is a summation from HR 25:
Introduced in House (01/03/2019)
FairTax Act of 2019

This bill 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 taxes, payroll taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2021, 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.

The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury.

Tax revenues are to be allocated among (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund.

No funding is authorized for the operations of the Internal Revenue Service after FY2023.

Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this bill.

This makes MUCH more sense to me than the current broken/rigged system. Just adding to the conversation here. And I still think that our energy solutions, or the beginning threads to them, are buried in the USPTO files!!

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