Posted: 22 May 2008 07:29 am
Post Subject: Re: FairTax good for real estate, not bad! Read Article
Karen,
No items are exempted under the current system. Can you identify a single producer of any food item that does not pay a corporate tax, payroll tax, or any other taxes that go to the government coffers? Those taxes are embeded in the price of the food item you are buying. Instead of the fairtax are you suggesting that we tinker with the current system to exempt producers of certain goods to not pay a corporate tax on profit they make, not pay payroll taxes, and exempt their employees from paying personal income tax? Removing those taxes would lower the price of those goods. The prebate UNtaxes everyone up to the poverty level. You only start paying taxes once you spend more than the poverty level. The prebate is based on the number of household occupants, not income as you misstated. No need for the government to keep track of anyones personal income. Here is another point regarding the problem with the current system.
Suppose 1 person has been working on a business for 4 years. That person gets paid nothing during years 1,2 and 3 and then makes $100,000 in year 4. Another person makes $25,000 every year for 4 years. They have both make $100,000 in 4 years. The current system taxes the person who made all of the money in 1 year at a higher tax rate than the person that made their money over 4 years. How does that make sense to anyone. Two people with the exact same income over a given time period and they are taxed at different rates based on the timing of the income?
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