Saturday, September 6, 2008
Letters to the Web Editor
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Bill Pelland
Joined: 25 Feb 2008 07:34 am
Posts: 323
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Posted: 09 May 2008 02:53 pm
Post Subject: Not good idea Read Article
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You need to research this. The 23% is only the first year, and yes it is a 30% markup. You expect profit motivated businesses to lower prices out of the kindness of their hearts. How much do you pay for gas? Do you really think the price will drop by 20%.
It amazes me how people like to confuse issues by attacking illegal aliens and drug dealers. We have laws against hiring illegal aliens and laws against dealing drugs. If the hiring stops, the illegals go home; look to Oklahoma.
People are so worried about what tax someone else does NOT pay that they will buy into any bad idea that comes along without even reading the bill or researching the outcome. Your relatives on Social Security will really pay the price for this foolishness.
Bill Pelland
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Bill Pelland
Murchison Tx
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Jeff Holberton
Joined: 19 May 2008 07:49 pm
Posts: 19
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Posted: 22 May 2008 07:37 pm
Post Subject: Re: Not good idea
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| You need to research this. The 23% is only the first year, and yes it is a 30% markup. You expect profit motivated businesses to lower prices out of the kindness of their hearts. |
Bill,
Do you understand economics? I agree with you wholeheartedly that profit motivated businesses will not lower prices out of the kindness of their heart. Supply, demand and market compatition will set the price of products. I will try and break it down for you:
The consumer (demand side) will buy a product from a producer (supply side) that has the same or like product at the lowest price in the market (competition). Ie... I will buy an apple from the person who sells the least expensive apple. The profit motivated apple seller that is not lowering the price (out of the kindness of their heart) will have a cart full of apples and an empty bank account.
Once the embedded taxes are removed from the price, market competition will continue to control price points as it does in the current system.
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Jeff Holberton
Joined: 19 May 2008 07:49 pm
Posts: 19
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Posted: 22 May 2008 07:50 pm
Post Subject: Re: Not good idea
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Consider the following situation.
A person works for four years writing a book. They make no money for years one, two and three. In the fourth year they make $100,000. Another person works for four years and makes $25,000 every year. In four years how much has each person made total? Answer: $100,000. How much tax does each person pay? Current system answer: The steady income earner is taxed at a lower rate because the money is earned over time, also, it depends on the nature of the income; passive or non-passive income, how much interest they paid on their mortgage, etc. Faitax answer: 23% of the money they spend.
Why should one person, with the exact same income over time, pay a different amount of tax than another person over the some time period; with all else equal.
I have read quite a bit of information from fairtax opponents saying what is wrong with the fairtax. I would like for someone to tell me what is right with the current system.
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