the Fair Tax

[Hooahguy]

but it does give the facts. i mean, how can you do a study if its never been in place?

[Yoyoma1910]

Every side to an argument will list "The Facts."


By your own logic, how do you know those are "the facts" if it has never been in place?

[LittleGrizzly]

How would this affect pensioners and the poor, and others that don't pay income tax for various reasons... i suppose this kind of depends on what the current sales tax rate is ?

its 17.5% in the UK, so a 5.5% rise in that tax (or 6.5% reduction for those living below double the poverty line) i really don't see how that could replace all the other tax income...

[Yoyoma1910]

BTW, during the last election there were two major proponents of the "fair tax" system.


Mike Huckabee and Maurice "Mike" Gravel. While I thoroughly enjoyed the campaigns of both men (I felt so bad for Gravel I donated him $20. I mean, the guy was living off of gift bags and pbj -wiches), I personally didn't see either of them as heavyweights in their policies. It just seemed that they reached for whatever could get them the uncounted votes, like most bottom feeders.

[LittleGrizzly]

There are other potential problems, after i get my uni degree whats to stop me from coming over for a few years and just sustaining myself, basic staples which aren't taxed as heavily and basic shelter, then take my riches back to britian and spend at a lower tax sales rate...

another problem is drugs and the black market in general, i smoke quite a bit of cannabis so something like this would probably work out nicely for me, drugs in general would be more affordable because salary isn't taxed and all other goods are more expensive.... i feel it would encourage black market activity for legal goods as well

Though how much they are problems depends on your current sales tax rate

Also billionaires could simply earn thier money in the US and live thier lives in somewhere like monaco, apart from basic stuff during the working day (and maybe fuel for thier private jet) there would be no need to spend thier money in the US...

[Tribesman]

thoughts?

Sounds good .
Tell you what , if you get your government to introduce it I will set up a nice black market for the benefit of discerning customers .

[Yoyoma1910]

Sounds good .
Tell you what , if you get your government to introduce it I will set up a nice black market for the benefit of discerning customers .

Yes, hi, I'm here about the tax free Bentley.

[Hooahguy]

too bad many politicians dont want it b/c then they would be paying more for all their extravagant spending. but if it does push through, go ahead, make a black market! since i dont pay income tax anyhow, ill be first in line!

[Seamus Fermanagh]

Sounds good .
Tell you what , if you get your government to introduce it I will set up a nice black market for the benefit of discerning customers .

Well, we can always stick with the present "progressive" income tax, after all, nobody GAMES that for personal advantage....

[Hooahguy]

i suppose it would encourage saving and peanalize extravagant spending. but it doesnt tax the staple foods, like milk and eggs, ect.