Why not just reduce taxes for poorer people

[asiaprop]

lol

a) so what is fair about not taxing necessities but only taxing airplanes, copters, that most in society dont afford themselves. You would unfairly tax the rich.
b) how has free speech to do with campaign donations? Are you one of those who would have sued McD because you spilled hot coffee on yourself while there was no warning on the cup?

omg, this forum gets funnier by the hour...

Quote from MGB:

FairTax does not tax food, bread, water, etc. It does not tax the necessities of life.



Unfortunately, this would be a violation of the 2nd amendment right to free speech.

 

[MGB]

Quote from asiaprop:

b) how has free speech to do with campaign donations?

The Supreme Court has ruled that campaign donations are a protected form of freedom of speech. Your right to donate money to a political campaign is protected. It can't be blocked. You can put regulations on it but you can't block it.

 

[MGB]

Quote from bigarrow:

Simple math: a highroller is making 2 million a year. Normal tax would be say 700,000. With your fairtax if he spent every penny, taxes paid $460,000. Now say he is motivated by the new tax rate and puts 1.5 million in savings and spends $500,000, taxes paid $115,000. Guess who makes up the difference, that's right cowboy, you and me.

Consider, for example, your typical billionaire, of which America now has more than 400. These fortunate few are invested primarily in equities on which they pay taxes at a 15 percent rate, whether their income comes in the form of capital gains or dividends. In addition to having the income from their wealth taxed at a low rate, the principal of their wealth is completely untaxed either directly or indirectly. Assuming they and their heirs spend only the income earned on the wealth each year, the tax rate today is 15 percent. In contrast, under the FairTax, the effective tax rate is 23 percent. Hence, the very wealthy will pay more taxes when the FairTax is enacted.

 

[MGB]

Quote from asiaprop:

that is utter nonsense. It has been shown in many studies that income is the most direct, fair, and measurable way to measure differentials in living standards NOT spending.

Show me a study.

 

[asiaprop]

lol, you gotta be kidding, sorry if this is correct then I did not know about that and agree this is linked to free speech (I am not American thus was not aware of the possibility this would ever be considered a constitutional right).

But isnt that at the heart of the whole problem of how infiltrated DC really is? With massive contributions there is no way to guarantee the independence of law makers. But I dont want to steer the discussion away from its topic. Back to taxes...

Quote from MGB:

The Supreme Court has ruled that campaign donations are a protected form of freedom of speech. Your right to donate money to a political campaign is protected. It can't be blocked. You can put regulations on it but you can't block it.

 

[asiaprop]

google "income taxation" "political science", you find what you look for, I dont do your homework...

Quote from MGB:

Show me a study.

 

[MGB]

Quote from asiaprop:

google "income taxation" "political science", you find what you look for, I dont do your homework...

I'm supposed to help you convince me?

I find the arguments for the FairTax far more persuasive and convincing (www.FairTax.org)

 

[asiaprop]

lol, the funniest part is "it abolishes the IRS" ;-)

But hey, lets welcome any effort that changes the status quo.

I did not try to change your mind as stated I have no clue about the FairTax. But any tax that does directly tax income does not make sense from the beginning, and I stated why.

Quote from MGB:

I'm supposed to help you convince me?

I find the arguments for the FairTax far more persuasive and convincing (www.FairTax.org)

 

[Humpy]

How about this for an idea.

For instance if California decided that it doesn't like the amount of tax it pays to the IRS then:-

they create their own currency i.e. Cali dollars. Making this new Cali $ = 2 US $ thereby halving their tax contribution overnight.

 

[asiaprop]

meant "any tax that does NOT directly tax income....."

Quote from asiaprop:

lol, the funniest part is "it abolishes the IRS" ;-)

But hey, lets welcome any effort that changes the status quo.

I did not try to change your mind as stated I have no clue about the FairTax. But any tax that does directly tax income does not make sense from the beginning, and I stated why.