Tax Ideas....

#1
g8terh8ter_eric

g8terh8ter_eric

No Disassemble!
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#1
I HATE paying taxes on everything and getting "check-jacked" every payday. I know this is a VERY smart political forum here so lets put our heads together and see if we can come up with a better system that can benefit all.

I personally want the Fair Tax to be implemented.

Thoughts??
 
#2
#2
I want the Fair Tax as well. I already have my 12 year old son convinced that we should be taxed on what we spend, not what we earn.
 
#4
#4
Keep in mind the fair tax focuses on first time purchases. If taxes were paid on say a car when it is first bought and not the subsequent times, there is an inccentive to buy used. If more people buy used, then the market suffers from lack of demand on new production. If more people buy used, then less taxes are collected. Considering how bloated it is now, someone will have to raise taxes or create new taxes.

Keep in mind anything like a flat or fair tax will require repealing or modifying a certain Constitutional amendment.
 
#5
#5
I thought the fair tax covered the retail level, which would include used cars bought at a dealership.
 
#6
#6
CSpindizzy said:
Keep in mind the fair tax focuses on first time purchases. If taxes were paid on say a car when it is first bought and not the subsequent times, there is an inccentive to buy used. If more people buy used, then the market suffers from lack of demand on new production. If more people buy used, then less taxes are collected. Considering how bloated it is now, someone will have to raise taxes or create new taxes.

Keep in mind anything like a flat or fair tax will require repealing or modifying a certain Constitutional amendment.
Click to expand...

MG1968 said:
I thought the fair tax covered the retail level, which would include used cars bought at a dealership.
Click to expand...
CSpin is correct, that there would be an incentive to buy used. However, this problem would correct itself after about five or ten years, since cars purchased post FairTax would have the cost of the retail tax embedded when they are sold as used cars (if the seller is smart.)
 
#7
#7
therealUT said:
CSpin is correct, that there would be an incentive to buy used. However, this problem would correct itself after about five or ten years, since cars purchased post FairTax would have the cost of the retail tax embedded when they are sold as used cars (if the seller is smart.)
Click to expand...

welcome back therealUT...I haven't seen you around in a while.
 
#9
#9
CSpindizzy said:
Keep in mind the fair tax focuses on first time purchases. If taxes were paid on say a car when it is first bought and not the subsequent times, there is an inccentive to buy used. If more people buy used, then the market suffers from lack of demand on new production. If more people buy used, then less taxes are collected. Considering how bloated it is now, someone will have to raise taxes or create new taxes.

Keep in mind anything like a flat or fair tax will require repealing or modifying a certain Constitutional amendment.
Click to expand...

What's wrong with not paying taxes on something used? The taxes have already been paid on it when it was new, so who in their right mind would want to pay taxes on it again even at a depreciated price? Also, if someone buys a new car the price isn't marked up as much since they don't have to pay all the corporate taxes so its cheaper anyways.

The amendment you talk about taxes us three times on our check and if you try to claim too many dependents then you will get audited.

Americans For Fair Taxation: Thumbnail Sketch of the FairTax

For those who are unfamiliar with it, you can read the page from the link above and see just how much of an advantage the idea is to the American people.
 
#10
#10
I never said there was a problem with not paying taxes on used items. If you read what I said, you would have seen that this Fair Tax is front loaded - meaning you're paying taxes on first time purchases. Used cars, houses, etc. are not taxed. Therefore in order to avoid paying ANY taxes people are more inclined to buy used. This has two effects:

1)More people buying used means less demand for newly manufactured products. Less demand means less money flowing on new goods, means less jobs, means, layoffs, etc. Why would I pay for something new with a high initial tax when I could buy something even only slightly used with no tax?

2)More people buying used means less revenue being collected. Less revenue collected means less government services. That sounds ideal now but take away some roads, school funding, pork projects, and various other entitlements - even slight reductions mind you - and people will scream. This means taxes will have to be collected from somewhere. This means someone is going to create taxes OUTSIDE the Fair Tax already designed.

It's not as rosy as some people paint it out to be. It has its flaws but I still see it as the best option. I've been on board with this group since 2000. It's got a huge uphill battle since the Dems control Congress and soon the WH. And since many in the GOP won't let go of their cash cows, I see nothing ever being enacted with this.
 
#11
#11
CSpindizzy said:
I never said there was a problem with not paying taxes on used items. If you read what I said, you would have seen that this Fair Tax is front loaded - meaning you're paying taxes on first time purchases. Used cars, houses, etc. are not taxed. Therefore in order to avoid paying ANY taxes people are more inclined to buy used. This has two effects:

1)More people buying used means less demand for newly manufactured products. Less demand means less money flowing on new goods, means less jobs, means, layoffs, etc. Why would I pay for something new with a high initial tax when I could buy something even only slightly used with no tax?

2)More people buying used means less revenue being collected. Less revenue collected means less government services. That sounds ideal now but take away some roads, school funding, pork projects, and various other entitlements - even slight reductions mind you - and people will scream. This means taxes will have to be collected from somewhere. This means someone is going to create taxes OUTSIDE the Fair Tax already designed.

It's not as rosy as some people paint it out to be. It has its flaws but I still see it as the best option. I've been on board with this group since 2000. It's got a huge uphill battle since the Dems control Congress and soon the WH. And since many in the GOP won't let go of their cash cows, I see nothing ever being enacted with this.
Click to expand...

It is the best option out there, and there are WAY MORE pros than cons.
 
#12
#12
But again, it will never pass. There is too much that has to be done to enact it and there are too many politicians beholden to special interests that benefit from the current system.
 
#13
#13
Fair tax won't be implemented because the politicians are bought and paid for by businesses who profit from the current system i.e. China. We need to clean house with the current Congress, both sides of the aisle.
 
#14
#14
I'll run. I love getting just short of $200K per year plus perks AND the ability to give myself yearly raises despite performance.
 
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