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Consumption tax is the only answer
Consumption tax is the only answer
Date published: 9/2/2009 Consumption tax is the only answer The letter-writer who wrote about not being able to buy clothes made in the U.S. is destined to see this trend continue ["It sure is hard to buy American goods!" Aug. 28]. It's difficult to buy American consumer electronics or things made with domestic steel. Two of our three major auto manufacturers are or have recently been in bankruptcy. The income tax, with the second highest corporate taxes on the planet, has been sabotaging America for more than 50 years. Textiles were the first to succumb, thus the letter-writer's lament. Warren Buffett is now predicting a banana republic future unless Congress stops spending, but Congress can't stop since most of the spending is not only necessary but needs to increase. We need more roads, more health care, more space exploration, etc. The IRS Web site reports that 142 million out of about 310 million people here paid income taxes. That's less than half. People sitting on a pile The same Web site also highlights its agency's own inefficiency by estimating that if everyone paid all their taxes without underreporting or hiding, then the rest of us would experience a 32 percent tax decrease. It's clear that the income tax is a corrosive anachronism, an insufficient and harmful tool. More industries will leave the U.S. unless we change. Boeing teeters on the brink. If their 787 "Dreamliner" fails, so do they, but their most recent of many delays is from wrinkles in the surfaces of composite materials manufactured in Italy. Repeal the income tax. Institute a consumption tax. The "Fair Tax" is no longer David P. Head King George
Date published: 9/2/2009
I'm not ready to sign on to taxes on churches
(posted by
larryg
, Sep. 3, 2009 5:47 pm)
even though I agree with your premise... I just think it's so
hard to make changes these days that you stay away from
the obvious hornets nests...
the right wing folks would go ape[*#@!] over a that kind of a
proposal - I mean more so than now...
I think something like a modified ... incremental
implementation of a FAIR type tax could work - as long as it
was pretty much revenue neutral and no giant winners or
losers resulted in the shorter term.
I get an uncomfortable feeling listening to the advocates
Half a trillion dollars is a lot of money.
(posted by
kspecial
, Sep. 3, 2009 2:32 pm)
The estimated value of untaxed church properties in the
U.S. is $500 billion. Undeniably, residents pay higher taxes
than they would if religious institutions paid their share on
this vast sum. Churches use city services, rely on good
streets, are protected by the police, and would expect the
fire department to respond to a blaze on church property.
Yet churches do not contribute to the city accounts from
which funds are drawn to pay for those services.Everyone
else has to pay more to make up the difference
It Gets Rid of FICA, SS,
(posted by
rally2xs
, Sep. 3, 2009 2:32 pm)
and basically EVERYTHING based on income. It is explaned in the 2nd paragraph on this page:
http://www.fairtax.org/site/PageServer?pagename=about_main
just cut/paste or GOOGLE FICA WIKI
(posted by
larryg
, Sep. 3, 2009 2:12 pm)
and you'll get:
http://en.wikipedia.org/wiki/Federal_Insurance_Contribution
s_Act_tax
so you're talking about getting rid of FICA also?
I'm not sure I've seen that explained in the FAIR tax
discussions
have you got a link that shows that?
One Little Change In The Tax Code
(posted by
rally2xs
, Sep. 3, 2009 2:11 pm)
is not going to save US industry. It is continuing to move to other countries. The USA is going to be a burned-out hulk with a banana republic economy (according to Warren Buffet) if we don't do something. This is the somehting. We better do it, or we're going to be worse off than the Great Depression.
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