re: Questions about a federal fair tax.

I hear yes Dawg. Unfortunately I'm afraid it's to far gone. The deep state and Soros lackey's are dug in to deep.

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You could argue it does that with the poor with the prebate which sounds like the most massive increase in government ever, but really it's the rich who get to enjoy the cut in taxes.

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In the current system, the rich get to enjoy all the tax breaks. They get income via capital gains, business expenses, depreciation, rolling forward losses, buying a second home or yacht, etc...

If a rich person makes $1,000,000 per year and currently they "take home" $600,000 per year after taxes, do you think they are going to spend less now that they "take home" the entire $1 million? Seriously?

Regardless, you will claim that the rich will benefit the most. That is probably always going to be true. It's true in China, it's true in Europe, it's true here. Why are you worried about what the rich are doing so much? We need set up our system so that average people can thrive and maybe even become rich, themselves. The Fair Tax is the best system for the lower and middle class.

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The Fair Tax is the best system for the lower and middle class.

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Too bad we "hate the poors".

I'd love to bring home my entire earnings without withholding, but do you know when I REALLY would've been able to benefit from it?

When I was an electrician apprentice making $7.25/hr, just after the Olympics. My junior colleagues and myself would track our earnings like hawks because there was a point where we'd realized that if we worked too much OT, it'd put us in a new tax bracket and we'd be working for almost nothing on that additional labor.

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If a rich person makes $1,000,000 per year and currently they "take home" $600,000 per year after taxes, do you think they are going to spend less now that they "take home" the entire $1 million? Seriously?

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When everything goes up 30%, yes? Or price elasticity isn’t a thing anymore since your income isn’t taxed?

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We also need the below average, average and above average to have skin in the game.

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Who says they don't?

Like I said before, we have NO IDEA HOW MUCH WE PAY IN TAXES.

Not one of us knows.

At least, with the Fair Tax, we'll know how much we're paying if we want to.

I still don't understand how you think the prebate is mucking things up. Here we have a tax system that is light years ahead of our current system, and people like you nit pick at it without taking the time to understand it. You kill damn good because it's not perfection.

Hey, I'd love it if everybody just wrote a check for $15K at the start of every year, and we can call it a day, but that ain't happening. The prebate system is a good because it pays everyone's taxes on the bare necessity and the system becomes "progressive" after that, in the sense that the people who spend the most pay the most.

One more benefit of the Fair Tax is that it is an inclusive tax. If an item is priced at a dollar, then that's what you'll pay at the register. Not $1.08, after sales tax. I lived in Portland, OR (no sales tax) for a number of years, and I loved not having to figure out tax, because I like paying cash for most things. If the federal government goes to an inclusive task ,the states will almost certainly follow suit, and we won't have to worry about that discrepancy.

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I still don't understand how you think the prebate is mucking things up.

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Because its sole purpose is to exempt lower income people from paying this tax, just like our current policy exempts them from paying income tax.

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Here we have a tax system that is light years ahead of our current system, and people like you nit pick at it without taking the time to understand it.

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I understand it fine, I just disagree with that aspect of it. I don't like policies that punish success and I don't like policies that keep people from having skin in the game.

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You kill damn good because it's not perfection.

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I'm not killing anything because none of this is happening, we're just discussing the pros and cons of a political topic on a forum meant to host political discussions.

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Very few things will go up 30%.

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So no consumption tax?

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They get income via capital gains, business expenses, depreciation, rolling forward losses, buying a second home or yacht, etc...

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Everyone knows the secret to generating wealth is manufacturing losses to own the tax man.


You are correct in that the current Code favors the capital and ownership class over labor.