"Here is how dumb the government is, if the FairTax was in place now the government would have collected at least 50% more revenue than they have so far this year. The FairTax is calculated as (GDP- exports+ imports) times .23, now there is no way to…"
Replace All Federal Taxes on Income with the Fair Tax Act of 2011, HR 25 & S 13
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John wiese
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John wiese replied to E Wolf's discussion On Implementation of Fair Tax - Taxed Twice on Savings?"I personally have no problem with the way it is written, but there are plenty of people that think that it wouldn't be fair to have their savings which was already taxed, taxed again when the FairTax goes into effect. Treating after tax savings…"
John wiese replied to E Wolf's discussion On Implementation of Fair Tax - Taxed Twice on Savings?"You will have the option to receive your prebate, by check, debit card or direct deposit. The debit card would have to spend like cash or the clowns in DC will start to determine what the card could be used to buy. There will be no restrictions on…"
John wiese replied to E Wolf's discussion On Implementation of Fair Tax - Taxed Twice on Savings?"They could set it up like a 1099 or whatever, the banks and other financial institutions send the government and us an inventory/cash statement to let us know how much of a rebate we are owed.
I don't think a prebate on savings would be that…"
John wiese replied to E Wolf's discussion On Implementation of Fair Tax - Taxed Twice on Savings?"Your probably right the FairTax will get changed several times before it is finally passed.
I don't think that it's fair to give out a senior discount it would lead to many other discounts like student, disabled, and who knows what else,…"
"John. WELCOME, WELCOME, WELCOME, to FTN from the desert section of WA state! Be sure to go to all the candidate's websites in your state and send them an email asking them if they would "endorse the FairTax on their website & pledge to…"
John wiese replied to E Wolf's discussion On Implementation of Fair Tax - Taxed Twice on Savings?"True, but you don't lose any purchasing power because of the inventory tax credit. The $100 item bought the day before the FairTax is implemented will still cost $100 the day after the FairTax is implemented. Another thing to remember is that…"
John wiese replied to E Wolf's discussion On Implementation of Fair Tax - Taxed Twice on Savings?"This is a scenario that will never occur because no business owner would make a mistake like that, knowing that the transaction would be tax free the next day, however it is a valid point. I don't think there will be many large business…"
John wiese replied to E Wolf's discussion On Implementation of Fair Tax - Taxed Twice on Savings?"The one thing that you're missing is that the prices will not change when the FairTax is implemented, the merchants will get a onetime tax credit on all inventory, the only thing that will change is the way it appears on your receipt. So…"
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- joplin
- State / U.S. Territory
- MO
- Zip Code
- 64801
Comment Wall (1 comment)
- At 5:20am on July 18, 2010,
Jamie Wheeler said…
- John. WELCOME, WELCOME, WELCOME, to FTN from the desert section of WA state! Be sure to go to all the candidate's websites in your state and send them an email asking them if they would "endorse the FairTax on their website & pledge to cosponsor the FairTax upon being elected".
Gooooooo FairTax! Now go get all the FairTax supporters you know signed up on here, FTN, so we can boast of over 10,000 supporters! Have a great week!
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