flat tax or fair tax???

[scoutman77]

I heard a commercial about a "fair tax" on the radio today. what are your thoughts on this as apposed to a flat tax, or current tax? I would prefer a flat tax if I have to pay taxes. no deductions, same rate whether you make 1000, 10,000, or 1million. that seems to be fair to me.
the info on the fair tax is at www.fairtax.org.

 

[Tx_Atty]

first thing I saw that I do not like at fairtax.org is their plan to continue social security. As far as I am concerned, they can keep what I have paid so far, just let me OUT of it. I could bury the contribution amounts in my back yard and have more for retirement than I will ever get from them.

Social security is now just another tax with more excuses to deny paying you at retirement than I can count.

I guess I vote flat tax, no SS.

 

[draftlover]

first thing I saw that I do not like at fairtax.org is their plan to continue social security. As far as I am concerned, they can keep what I have paid so far, just let me OUT of it. I could bury the contribution amounts in my back yard and have more for retirement than I will ever get from them.

Social security is now just another tax with more excuses to deny paying you at retirement than I can count.

I guess I vote flat tax, no SS.

There's a guy with some brains!!! I agree 100%!!!!

 

[Hoss 350]

I heard a commercial about a "fair tax" on the radio today. what are your thoughts on this as apposed to a flat tax, or current tax? I would prefer a flat tax if I have to pay taxes. no deductions, same rate whether you make 1000, 10,000, or 1million. that seems to be fair to me.
the info on the fair tax is at www.fairtax.org.

On the Social security issue, I absolutely agree, but if you did that, how would you pay for all the others out there that need your money to retire? Social security should be voluntary. period/

As far as the flat tax, I've been an advocate for years, if for no other reason than it will take the largest, most expensive of our governmental bereaucracies and virtually eliminate it (IRS). No need to file taxes, no need to stress over whether you are going to jail over a mistake or not, etc.

Of course, if you really want to see my true colors, I will tell you that a federal tax directly on the people is unconstitutional. The first federal tax was voted in as a temporary measure to get us through WWI. The dissenters tot eh tax stated that once the government had it, they would never let it go, even though it was temporary. Look at what happened!

 

[02SilverStroke]

I heard a commercial about a "fair tax" on the radio today. what are your thoughts on this as apposed to a flat tax, or current tax? I would prefer a flat tax if I have to pay taxes. no deductions, same rate whether you make 1000, 10,000, or 1million. that seems to be fair to me.
the info on the fair tax is at www.fairtax.org.

Scoutman, under the fair tax, there would be NO deductions (except, of course, your benefits - insurance, 401K, charitable contributions, etc.). I have the book regarding the fair tax co-written by talk show host/lawyer Neil Boortz and a congressman from Georgia. It gives an excellent detail of the way to eliminate the IRS. They call for a 23 percent embedded sales tax (which would not be paid by the consumer). Their example is if you buy a $100.00 jacket, you would not pay $100 plus $23 sales tax. You'd pay the $100 for the jacket, and the merchant would keep $77 and send $23 to the government. This amount would still deliver the same amount of revenue currently being generated by income taxes. In addition, it would eliminate ALL tax deductions and shelters, which would cause the money that is being held in foreign bank accounts (to avoid taxes) to come back to the US. Their plan would make it a "gold mine" for investment in the United States and would cause our economy to skyrocket. The bill for this plan has been introducted in Congress for several years and gains more support each year. One of their comments is that April 15th would become just another spring day under this plan. Sounds like a time for a massive e-mail and/or letter writing campaign to the "crooks" in Washington.

 

[powerboatr]

flat tax is good, however, at what point do you cut off social security?
all the folks whom are 40 and under,
50, 60 etc.
the big question is we all know ss is not designed to be a retirement plan, however its been touted as that, not sure when or by who but it got put out that way...
so now you have folks whom are say 100% disabled, SS is suplementing what little $$ they have coming in. now this person worked for 35 years, who is to say they dont continue to get help??

do we say all you folks whom have been paying ss tax for 30 plus years, "we are sorry your money is gone and no benefits are coming your way"?

if you guys know where the line can be drawn fairly, i would love to hear it?

our tax system is broken bad.
a person whom is married and clams m 1 on the w-4, should balance out at the end of the year PERIOD, not owe 1500 smackers.
but the turkey whom has 4 kids and pays very little in get 3-5 k back???/ fair?
18-23% tas embedded or otherwise is fair, make it a user fee, you use the government stuff, (poilice, fire, military, roads, etc etc) we charge you.

 

[JohnBoyToo]

PB....
Do you think there will be any money there for US, I don't expect it - or if there is any, I expect I'll be taxed to death on it

Embedded sales tax may not work either.... some will just buy everything out of the country....

Agree 100% - it's broken....
not IRS, not SS..... de gooberment !!!
Too many people on the handout side of the ledger and too few of us payin....
(a lot of them at "RALLIES" this weekend - let's get the news coverage of all those "undocumented" and send them packing !)

I say get ALL politicians and attorneys out of gooberment and we MIGHT be able to survive....

 

[powerboatr]

PB....
Do you think there will be any money there for US, I don't expect it - or if there is any, I expect I'll be taxed to death on it

Embedded sales tax may not work either.... some will just buy everything out of the country....

Agree 100% - it's broken....
not IRS, not SS..... de gooberment !!!
Too many people on the handout side of the ledger and too few of us payin....
(a lot of them at "RALLIES" this weekend - let's get the news coverage of all those "undocumented" and send them packing !)

I say get ALL politicians and attorneys out of gooberment and we MIGHT be able to survive....

buy things out of country, to avoid taxes on it, wouldn that be smuggling, which is a seroius offense, I am sure inbound parcels of any nature would have t be tracked, but as with any system there are ways around it.
18% taken out of your paycheck, lik enow
and all the irs folks we put out of work can work for the ports insecting incoming containers,
only 10% get looked at now

as far as me getting ss benefits, probably not , but i can dream,

 

[Tx_Atty]

. . .
do we say all you folks whom have been paying ss tax for 30 plus years, "we are sorry your money is gone and no benefits are coming your way"?

Unfortunately, this would merely amount to admitting the truth. Im not saying it should be overnight done away with. What I am saying is that, overnight, I should be given the option of no longer flushing my hard earned money down the government toilet.

Let's review a couple of historical developments in no particular detail or order - SS did not used to be subject to income tax, now it is - reduction of "benefits" #1.

Continuing to work while receiving "benefits" did not used to reduce your "benefit". Now it does to the point that if you retire and work part time your income can reach a point where you cannot continue to live in the manner to which you have become accustomed but you WILL exceed a limit imposed by the SS Admin and you will NO LONGER RECEIVE THE "BENEFIT" YOU PAID FOR. Reduction #2.

There are others Im sure but it makes me so mad I cant stand to read about the system I pay into every two weeks but will NEVER see another dime out of. Reality - when I reach retirement age (dont overlook the ever-uppward push of "retirement age") I will have been dead for close to 10 years.

Simply put - I want OUT. Noone in their right mind would voluntarily choose this system as an investment so why should we be forced to?

Ok, rant over. One of my hot buttons. People Brent's age should be really furious.

 

[powerboatr]

"Continuing to work while receiving "benefits" did not used to reduce your "benefit". Now it does to the point that if you retire and work part time your income can reach a point where you cannot continue to live in the manner to which you have become accustomed but you WILL exceed a limit imposed by the SS Admin and you will NO LONGER RECEIVE THE "BENEFIT" YOU PAID FOR. Reduction #2." tx atty

this is the exact sinkhole our capmground manager is in
she needs good medical insurance, so she works for wally world,
but they work her to many hours or if she cant they will terminate her.
last year she had to payback ss benefits she earned.
so this year she is trying to stay under the cap and maintain health coverag so she does not become an indigent person at the hospital, however wally world insists she work more hours or QUIT.

and if I could invest my ss into another retirement account, man o man i would be all over it, even now after paying for so long, keep the money, let me start tomorrow

and dont give beneifits to "NON" legal workers or undocumented workers.