Comments on: What’s The Difference Between A Value Added Tax And A Fair Tax

By: galaxy

galaxy — Sat, 17 Dec 2011 14:12:44 +0000

Understand me?

By: John

John — Fri, 21 Oct 2011 03:15:34 +0000

As others have pointed out, an entire half of this is completely wrong.

The last poster thanked you for using proper grammar and concluded that most sites were complete nonsense. Unfortunately having proper grammar doesn’t make what you’re saying any more correct.

You have completely confused a “flat tax” (which is what you described) and called it a Fair Tax. The two are COMPLETELY DIFFERENT. You should either correct this or take it down. It’s a year and a half after you posted this and obviously people are still finding it. Who knows how many people you have misinformed.

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runescape private servers — Thu, 13 Jan 2011 06:22:47 +0000

Thanks for actually using proper grammar. Most sites were complete nonsense…

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By: Aaron

Aaron — Thu, 13 May 2010 18:58:48 +0000

The description of the ‘fair tax’ is very wrong. From the website: 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.

The FairTax Act (HR 25, S 296) is nonpartisan legislation. It abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing state sales tax authorities.

The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.

The FairTax:

Enables workers to keep their entire paychecks
Enables retirees to keep their entire pensions
Refunds in advance the tax on purchases of basic necessities
Allows American products to compete fairly
Brings transparency and accountability to tax policy
Ensures Social Security and Medicare funding
Closes all loopholes and brings fairness to taxation
Abolishes the IRS

Here is some recent research on the FairTax legislation too: http://www.fairtax.org/about_basics_main

By: John Brown

John Brown — Sun, 02 May 2010 14:07:54 +0000

@Amerigo M. Cimino

Of course there would still be lobbyist and preferential treatment. There would be ax exemptions on homes for the rich, etc. And who do you think would help them with that? There will still be bills passed. They can also raise the national sales tax if they wanted. I’m not going one way or the other, but this would be most beneficial to the wealthy. They would be able to get exemptions on homes and other luxury items through the power of the dollar.

By: Ken Scheid

Ken Scheid — Sun, 18 Apr 2010 04:38:19 +0000

10% of $10,000 is $1,000 not $100. Please be accurate with numbers, it is extremely important to do so, especially with taxes.

By: Amerigo M. Cimino

Amerigo M. Cimino — Tue, 13 Apr 2010 10:59:56 +0000

Wouldn’t it be nice to make 04/15/20–?, a holiday? What could be fairer than the Fair Tax! Our government would not like it, there would be no room for lobbyists, no preferential treatment, NO added taxes, and the government would have to live within the means of the taxes collected. ALSO, if you think of the rewards, NO other taxes, no more saving receipts, no more taxes on anything and you can look up the list of things that are taxed. This is on the Federal level. Raising the tax to any higher level would bring on a revolution! Let’s get this Fair Tax enacted!
What a relief it would bring to all taxpayers.
Let’s do it now. If you have not read the Fair Tax book, get one. There are other books that explain the objections and they are worth reading.

By: Sandra Stewart

Sandra Stewart — Mon, 12 Apr 2010 00:36:40 +0000

The explanation given here of the difference between the flat tax and the fair tax is completely wrong. A flat tax is a tax on income at a flat rate for everyone. It is just as corrupt as the present system, since corporations and self-employed persons can take advantage of creative deductions to lower their bottom line income amount. A fair tax is a national sales tax INSTEAD of an income tax. It taxes everyone who buys products in this country at the same rate. There is no way to play with the numbers, no returns to fill out, and no need for an IRS any more with a fair tax. A value added tax (VAT) is a kind of national sales tax IN ADDITION to the current income tax. But, it is invisible. It is added to the price of the product, so it raises the cost of goods and services you buy, but you never know how much of the amount paid is going for the tax.

By: Paul Livingston

Paul Livingston — Sun, 11 Apr 2010 03:49:13 +0000

There is also the FairTax, bill HR 25/296 now in the Ways and Means Committee. This 133 page bill undoes almost 70,000 pages of existing, convoluted tax code to raise the same tax revenues to fund the U.S. Federal government with one tax; a fair, simple, transparent, easy to collect, harder to cheat, revenue neutral, end of sales process consumption tax. The FairTax eliminates the income tax, capital gains tax, regressive payroll taxes (Social Security and Medicare), estate taxes, businesses taxes (that are actually paid by the final consumer as hidden taxes with higher prices). The FairTax untaxes all U.S. citizens up to subsistence level spending with a monthly rebate. The changes in the tax code by the FairTax would take the hidden business taxes out of the pricing system to cause a huge job stimulus and attract over $12 trillion in offshore capital to the U.S economy, a no cost economic stimulas with zero government spending. The FairTax will tax the over 1$ trillion underground economy and greatly reduce cheating. The FairTax changes the tax code to reduce the powers of politicians and lobbyist to reward and punish, divide-and-conquer, hide-and-disguise and slowly ratchet up our tax burden. To learn more go to http://www.fairtax.org and become a FairTax supporter.