"I have. I sent the paper into Fairtax.org And I have talked to Aaron Schutte.
The tax collection process costs $10B a year as defined in the FT bill.
I have provided information that would eliminate that cost and reduce the FT…"
Replace All Federal Taxes on Income with the Fair Tax Act , HR 25 and S 122
Terry Warns's Page
Latest Activity
Terry Warns replied to Dan Hunt's discussion FairTax fight to continue in next Congress"I have developed computer systems for over 35 years and understand how they are developed and how they are implemented. I also have been doing taxes for nearly 40 years and understand the tax code well.
People may have spent millions of…"
Terry Warns replied to Dan Hunt's discussion FairTax fight to continue in next Congress"The FT has some serious flaws in areas that were not thought out very well. If you cannot accept proposals that do not change the premise of the FT to improve the product from people who sincerely want to improve the product, then those people…"
Terry Warns replied to Dan Hunt's discussion FairTax fight to continue in next Congress"The problem with the Prebate is that it would become a large entitlement program. If you choose $250K, then you only eliminate 2% of the prebate, not enough to make a rate change difference. I think you have to eliminate at least 50% or…"
Terry Warns replied to Dan Hunt's discussion FairTax fight to continue in next Congress"I see three areas that would need to be changed to make FT viable. There should be a real solution on collection, compliance and audit utilizing 21st century technology where States can piggyback on the FT without any cost and pick up Internet…"
Terry Warns replied to Phil Tuttobene's discussion FAIR TAX SCHOOL 102 "Answers for the Critics""I have been working in Workers Comp industry for over 15 years. I have never had a claim.
Workers Comp is regulated by the state insurance regulators and every state is different and their rules for compensation is different. Workers Comp exists…"
Terry Warns replied to Phil Tuttobene's discussion FAIR TAX SCHOOL 102 "Answers for the Critics""Phil,
Many people think Workers Comp is a tax. It is not. It exists because business and government had a problem. People were getting hurt on the job and the courts were being filled up with claims.
Out of that mess came Workers Comp in the…"
Terry Warns replied to Phil Tuttobene's discussion FAIR TAX SCHOOL 102 "Answers for the Critics""Just a note:
Workers Compensation is Insurance not a tax.
It was borne directly as a result to provide low cost no fault insurance when someone is injured on the job. In many states it is provided by private insurers but in some states it is…"
Terry Warns replied to Phil Tuttobene's discussion FAIR TAX SCHOOL 102 "Answers for the Critics""Some believe the following:
I say vet your candidates and ONLY VOTE for those that PUBLICLY support the fair tax regardless of party. Then in 2012 do the same thing and we will get this thing passed.
Others believe the following:
It seems to me…"
Terry Warns replied to Phil Tuttobene's discussion FAIR TAX SCHOOL 102 "Answers for the Critics""The church I go to has 15K people attending per week and are open about their finances. The largest salary is $68K for the senior pastor. So I am unclear about most of them are making tons of money.
On the other hand our projects including a…"
Terry Warns replied to Phil Tuttobene's discussion FAIR TAX SCHOOL 102 "Answers for the Critics""Hank,
I find you very reasonable in your discussions. I am not sure being called a liberal is exactly a character assassination.
There are a lot of issues applying the FT to construction. There will be a lot of schemes to call a new house a used…"
Terry Warns replied to Phil Tuttobene's discussion FAIR TAX SCHOOL 102 "Answers for the Critics""Here is an extract from HR25, Sec. 206.
"For FairTax purposes, insurance premiums have two components: (1) dollars paid back as claims, and (2) dollars kept. The dollars kept are what is paid for the service of insuring the policyholder. The…"
Terry Warns replied to Phil Tuttobene's discussion FAIR TAX SCHOOL 102 "Answers for the Critics""Some parts of the FT are very good. Some parts of FT are deal killers. There are a lot of criticisms both fair and uninformed. However from personal experience, I find that the FT people are not interested in ideas that can improve the product and…"
Terry Warns replied to Phil Tuttobene's discussion FAIR TAX SCHOOL 102 "Answers for the Critics""In general I think Hank likes the FT over our current system. However, he sees flaws with FT. I also think that he would like to engage in discussions on how to improve the current proposal.
For instance, if you are defining a new tax system, then…"
Terry Warns replied to E Wolf's discussion On Implementation of Fair Tax - Taxed Twice on Savings?"Ron,
It would be simple for the investment company to withhold a flat amount for each and every withdrawal. By trying to implement a graduated rate, it now requires much more paperwork.
Also if it was a flat 10%, then some people will bite the…"
Terry Warns replied to E Wolf's discussion On Implementation of Fair Tax - Taxed Twice on Savings?"Hank,
First of all, in their current $53K of purchases there is at least 5K in embedded taxes (9% of 53K). So I would compare $7K to $5k. In addition, I agree there might be some price inflation which would be reflected in the SS received by the…"
Profile Information
- Name or Internet Handle
- twarns
- City, Town or County
- Oakland County
- State / U.S. Territory
- MI
- Zip Code
- 48462
Comment Wall (1 comment)
- At 6:38am on September 18, 2010,
Marilyn Rickert said… - Welcome to FairTax Nation!
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