 Would a National Sales Tax be better or more fair than Income Tax? |
I think it would be more fair, and would be much harder for scofflaws to dodge. What do you think?
Additional Details
Hey, to then lady who left "Look it up" as a source - this ... |
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 If I sell my house without putting the proceeds into another house, how can I avoid taxes? |
| My employer will build a house and allow my family to live in it rent free. We will sell our house. We will make quite a bit when we sell our house. Since we won't be reinvesting in a house, I... |
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 Can we claim the interest we pay on our mortgage on this years tax return? |
| I was told that we could claim the intrest we pay to our mortgage company & that we'd get most or maybe even all of it back on our 2007 return. My husband & I are young & just bought ... |
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 IRS Problems? Help.!!!!! Need Legal advice.? |
| I have a joint account with someone who owes money to IRS. Yesterday a large amount of money was withdrawn from our account. Can they withdraw money from a JOINT accout. Even though the other ... |
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 I worked at Bath &body works only 2 days in 2007.when im gonna get my w2? any ideas? it's january 29 2008 !!!! |
| i worked at Bath & body works during the holiday season of 2006,then i only worked 2 days in january 2007. i really need to know when i am gonna get my w2. it is already january 29 ,2008 .last ... |
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 Where is my Stimulus Rebate Check??? |
Ok...is anyone else in my situation?
My SS# last 2 digits fall between 00-21 and I was "suppose" to receive my rebate on May 2 by direct deposit according to my "... |
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 Is there a law stating we have to pay federal taxes? |
| I have been doing some research into the Federal Reserve Bank and how it states in our constitution that hiring a private bank to mint monies for the government is illegal. As a result of the F... |
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 Why do i pay fica taxes? what are fica taxes? |
I know that I am paying twice as much for FICA as I am federal withholding. What's this all about?
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But why is it so much? I'm paying DOUBLE what I am in ... |
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 Can the IRS take money from my tax return If my husband owes? |
| My husband owes money from a business he closed but has not been able to find a job to pay it off yet. So, Can the IRS take money from my return if I file him as depemdaent? he has not worked at all ... |
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 TAX THE FAT - are you with me? |
| I think the government should bring in a new tax for the obese. They should be charged by airlines as we are when our baggage allowance exceeds the limit. Also because they need bigger seats as R... |
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 Why did I get different amounts of tax taken from two seperate checks? |
I recieved 2 checks this period, one was my regular salary paycheck, and another was a slightly higher bonus check.
On the paycheck the federal government took out 6%, and the state took ... |
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 What can I exspect if I have not filed my taxes in four years.? |
| I would like to know what I need to do in order to get my taxes straightened out.... |
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 Does someone need to pay taxes on rent collected if it is passed between family? |
| If woman A and woman B have an agreement that woman A will collect rent from a property woman A owns, and give $1,000 per month to woman B, is woman B required to pay income tax on this sum? Woman A ... |
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 What do Social Security Disability recipients need to file to receive their tax rebates? |
| Is there any special form that needs to be filed to receive the tax rebates? I am inquiring for a person I know on Social Security disability who hasn't filed in the last two years and may be ... |
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Rachel M | What are the chances that the "fair tax" will be implemented in the U.S.? |
Additional Details
swg: look up Fair Tax. I'm not saying taxes are unfair.,
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bostonianinmo
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Less than zero. Ever wonder why it has languished in committee for over a decade now? It's purely a political football, nothing more. The few proponents use it for their personal political gain, nothing more. They go back to their constituents and say, "I'm TRYING to do something but NOBODY is interested!" And of course they get re-elected.
The wealthy would LOVE for it to become law, at least initially. They only spend a tiny fraction of their wealth unlike the poor and middle class. The wealthy would get a MAJOR tax break from it. The problem is, when you give one group a break, you either have to cut services OR transfer the burden to another group. That leaves the poor and middle class to pick up the slack. The fact that most of the backers of the so-called "Fair Tax" are hideously wealthy SHOULD tell you something!
Do you REALLY want to pay a 30% sales tax on top of the state taxes you already pay? Let's say that you buy a $200,000 new home -- fairly modest in many parts of the country today. Are you REALLY prepared to pay an additional $60,000 in TAXES on top of the purchase price? And pay that tax over the next 30 years as part of your mortgage, thereby doubling the tax as well? Or how about buying a $20,000 new car and paying an EXTRA $6,000 just to get the tags for it? Of course you wouldn't! Nobody would! As a result, the auto industry and the construction industry would COLLAPSE overnight since only new cars and homes would be subject to the tax. What's really FAIR about that? |
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G-gal
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Just short of nil. |
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ppullin
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The fair tax has about a snowballs chance in hell of every coming to light, and even if your not rich, you'll be glad that it will never come to light either. One congressman proposed a flat sales tax of 23% can you imagine going from an average of around 7.5% to 23%? insane. Sure you would keep all of your money but can you imagine paying 23 cents for every dollar you spend? (.23 on a 1.00, 23.00 on 100.00, 230.00 on 1000.00 etc) What happens in a market downturn? What happens when the economy slows down, people stop spending as much money not only will the economy suffer but our government services as well if the governments budget is contingent upon the strength of the economy. By the income tax they have a guaranteed budget every year, and our economy has plenty to spend. Income tax is here to stay. Now do they need an overhaul? thats a different story. I hope I answered your question. :) |
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rhubardpi
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Republicans like it, you might not, cuz a billionaire would pay the same as you. That's why republicans call it the "fair" tax. |
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acermill
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Somewhat less than .001%. The 'fair tax' has far too many problems to be taken as a serious alternative to our current system of taxation. Don't hold your breath waiting for it to happen. |
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Gary
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None, too much opposition in Congress and special interests groups. |
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Judy1
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Approximately zero. And contrary to what some people think, it isn't the rich that would benefit from that one - they'd make out very well, the poor and middle class would be hit hard, even with the "prebate". |
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Tim
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Probably not. It is too easy now for politicians to just keep adding little hidden taxes than raising the one and only tax. |
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mcmoehring@sbcglobal.net
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It depends what your definition of "fair" is.
You are probably under the impression that the wealthy don't pay their share.
The top tax bracket is 36%. Imagine 36%.
Remember, its the guys with money who create the jobs.
If a business owner pays a lower tax, he can buy that machine... he has to hire a guy to run that machine...because the machine operator has a job, he's going to buy a new car... the economy is working.
Stop whining, and become one of those guys. |
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Nae
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No way. The rich can dig into their pockets and pay lobbyists to keep that one down. The rich rule in this capitalistic society. All the rest are kept under their thumbs. |
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Sabena
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Good if more Americans take the time to learn what the fair tax is and how it works. People need to write their congressmen and ask them to support it. Without a strong push from the public, it will never be implemented.
For those who are confused on what the fair tax is (from http://www.fairtax.org/site/PageServer)
What is the FairTax plan?
The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including a progressive national retail sales tax, a prebate to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue neutrality, and, through companion legislation, the repeal of the 16th Amendment. |
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