No it's a little different from the flat tax. The Fair tax is basically a consumption Tax. The idea is to do away with the IRS and, collect taxes when you buy something (on new things or things you need). I've been reading two books about it and, once you understand it, it's a excellant idea IMO. If you research the history of the IRS, you will see that it is causing a lot of harm to our country and, it wasn't supposed to be the way it is now. The biggest misconception about the fairtax is, that it is a 23% tax on top of what we are paying now, which is not true. I still have to do some reading on it but, if you Google it you can find some good information on it. With this type of tax everyone would be paying, no matter if they are in this country illegally or involved in criminal activity. A lot of these corporations are moving their operations over seas because of taxes, thus taking away American jobs. I could talk a lot more about it but, I feel this subject requires it's own thread. i think it's very important for people to know, whether you a democrat or republican. i was trying to hold of bringing it up but, couldn't help it, reading some of you all's post.
The reason the companies have moved the jobs overseas is because of the Tax burdens. Do away with the iRS and replace it with the fair-tax then there will be no more loopholes for anyone. When foreign countries import stuff in the U.S. or do business here, their countries give them a tax break to offset what they must pay here. When U.S. companies do business overseas - if they are still based in the U.S. - they are taxed by the IRS and the foreign countries, that is why a lot of then move their operations (and jobs) overseas, to avoid the tax burdens.
Now this thread has done something I rarely seen. Evolved into intelligent conversation. Shit I have to agree with Lippy's couple of posts. If any of you get the chance please watch the Corporation it's on Netflix. I just want us to keep in mind what corporations really are and why we need government to stand up for us.
I will check out that movie on Netflix. I wanted to know what you and Lippy thought of the fairtax? Edit: I just added "the Corporation" to my Netflix instant que. I'm glad it's instant so, I can watch it tonight if I chose.
Interesting but what would be the stance on gifts or contributions which have no power of purchase. There would be a lot of revenue lost on taxes for services. I do like the prebate for the poverty stricken though
Awesome! I'm glad you took the time to read about it. I'm not sure it would include gifts or contributions. As far as services, I probably naive/ignorant about that because, I didn't realize many business's charged taxes on service. I don't charge tax on service in my business, only on parts. With the FairTax I think it would more than make up for the lost revenue in service tax, when everyone who isn't paying taxes now would be paying. In the book it talks about all the lost revenus from people who evade taxes or don't pay by working for cash-only. I have to finish reading the books (I'm a slow reader, unless it's Sci-fi LOL) and, then I'll have a better grasp on it. I would like to start a discussion on it later. I got to go, Michelle Beatle is on Espn right now and I love watching her. :heart:
yeah also what you are talking about is underemployment. people who are engineers are suffering by taking jobs a pizza joints but still cant afford their homes but cant sell the homes either. yeah he is. its a catch 22 for everyone. people just have to retrian (go back to college and get into the hot jobs.)
seriously get all the education you can get, and build those networks while u can u dont want to be without a job because all u did was play Madden all day
In all cases but people are dumb enough to believe they're job creators and allow it. We need to assemble.