I don't claim to know the tax code. I simply know that I want reduction of any tax that isn't used to directly fund needed infrastructure, my safety, and protection of rights. I think many more sectors of our government would be more effeciently and cheaply provided if they were privatized. If that was done there wouldn't be a need for many of the taxes we currently have.

I don't claim to know the tax code. I simply know that I want reduction of any tax that isn't used to directly fund needed infrastructure, my safety, and protection of rights. I think many more sectors of our government would be more effeciently and cheaply provided if they were privatized. If that was done there wouldn't be a need for many of the taxes we currently have.

Well said... :thumb:

Hearsay, I would love to contribute to this but like most have said I just don't know much about the current tax system. The ideas you put forward sound good but at this point anything to that would contribute to down sizing the IRS is a good idea.

 

The "FairTax" has always intrigued me. What is the down side of going to this type of system?

Hearsay, I would love to contribute to this but like most have said I just don't know much about the current tax system. The ideas you put forward sound good but at this point anything to that would contribute to down sizing the IRS is a good idea.

 

The "FairTax" has always intrigued me. What is the down side of going to this type of system?

 

Here is their website.

 

http://www.fairtax.org/site/PageServer

 

The chief complaint is the inability to protect against "undergrounding" of point of sale transactions and also what do to about tax on before market transactions. In other words, we tax the tractor you buy point of sale (retail), but when the tractor manufacturer buys the steel to make it, what about tax on that.

What is everyone's thoughts on a National Sales Tax and eliminate Income Taxes. I mean it seems like there are a lot of people that don not pay any taxes but everyone buys something almost every day wouldn't this increase the tax base for the Federal, State and Local governments overall.

Here is their website.

 

http://www.fairtax.org/site/PageServer

 

The chief complaint is the inability to protect against "undergrounding" of point of sale transactions and also what do to about tax on before market transactions. In other words, we tax the tractor you buy point of sale (retail), but when the tractor manufacturer buys the steel to make it, what about tax on that.

The tractor manufacturer doen't pay tax on the steel now so why would that change? What do you mean by "undergrounding" point of sale transactions?

The tractor manufacturer doen't pay tax on the steel now so why would that change? What do you mean by "undergrounding" point of sale transactions?

 

Conducting sales without reporting them.

The "FairTax" has always intrigued me. What is the down side of going to this type of system?

 

I think people are quick to forget that the point of taxation is revenue. So my problem with the Fair Tax is that they claim to lower rates, but never produce any clear cut economic model showing how the revenue will be made up. Rather, there is quite a bit of fuzzy math used to get to those marks usually meaning a tax hike for most people.

 

If we want lower taxes, we must first cut spending. There is no other way around it. Cutting the fat out of the current tax code is necessary, and it might produce greater revenue in that it closes loopholes or reduces exemptions, but revenue is revenue is revenue. The money must come from somewhere. Less spending is less taxation.

If we want lower taxes, we must first cut spending.

This is the single most simply eloquent statements I've read by you, and one with which I agree 100%.

 

This is precisely why I am angry and disappointed with our current republicans, and entirely why I am petrified of Obama and our current Democrats. :thumb:

Conducting sales without reporting them.

 

Which is one of the reasons why I am more in favor of a Flat Income tax as opposed to a Flat Sales tax.....