This is not a reply to Ribit's well written and easily understood comments about GAMING the existing system.
I have refrained frfrom adding any comment on this Fair Tax thing from our board member Hydro_gen intentionally.
Many years ago when the so called "fair tax" was first conceived and ran with, I was a huge fan and supporter of it early on. WHat happened? I grew older and had my eyes of understanding opened more.
Does it sound good? Somewhat. I still have issues with a lot of the basic construct and I for sure am not interested in payinga whole lot more sales taxes on everything I buy.
IS the present system working?
Well, let's just say since Trump came into office it has been revised and was a step in the right direction.
The bottom line is that the middle income people pay too much money on federal taxes. ALL taxes.
And I realize that there are folks here who have stated thatthe Social Seurity act is a ponzi scheme and was always destined to fail, especially in light of my generation being born and coming of age..
Well, in a single word, that is INACCURATE.
So then micro, what is gpoingon with the funds for medicare then?
Simple. The people who cannot help themselves from spending money that is not theirs (Congressional critters and presidents), saw ALL of thee huge stockpiles of money in this account in earlier years and decided that they could go on enormous spending sprees and just borrow the money from the Social Security Trust Funds. They put IOU's in as they raided the money that we the common people had put in it on vast sums while the greatest generation were relatiely few being funded and growing by the Boomer generation.
As usual and expected, the theives in Washington never did repay the money that was STOLEN out of the funds and now the generations coming after the boomers cannot keep enough money going in to stave off insolvency i na matter of years.
Were it not for the THIEVES in CONGRESS, this fund would have grown exponentially with this last great BULL Market were all the funds there to help it grow through investing. Those untaxed profits or gains would have provided a lot of additional funding, were it not for the FACT that they were not there to invest and GROW and double in ten years.....
So the CONGRESS is basically respnsible for creating this mess.
WHY in Heaven's name should every citizen have to pay more and more and more because Congressional Spenders have no self control, or cannot seem to live within a budget and means?
This brings us full circle to where I am at with this whole thing.
NO to the socialist fair tax. There is no such thing as a "FAIR" tax.. It is essentially a legal TAKING of money from one who actually worked to earn it. SO I do not trust Congress to be in charge of anyting after they already helped themselves to the SOCIAL SECURITY monies and now want to helop themselves to my back pocket again in a different way that sounds appealing to some?
Why don;t we just have a smaller percentage of feeral income tax than what Paul RINO and crew gave us uin Trump's last attempt to have a better tax system.
The tax rates are still too high. Let's bring them down lower and across the board have a very simple income tax structure.
I hate sales taxes. I hate having ot pay my local government money for theprivilege of living in a house I bought and own just because it is witin a drawn boundary of a township. Why don;t all the apartment dwellers have to pay an equal percentage of dwelling taxation to the local government as a homeowner?
Government needs money to function to provide certain vital functions. No argument from me. Theonly question then is HOW to MINIMALLY do this so that is not burdensome to the citizenry and does not present itself as a opportunity for future politicians who asapire to be dictators over us instead of working for those who elected them, to always have an excuse to raise taxes and take more and more so we have less and less.
As president Reagan so aptly said, "Just say no"....
This is just my take on several matters and by no means do I think anyone or everyone will not have their own things that bother them as well.
micro....
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