Keith Reynolds's Posts - Fair Tax Nation2024-03-28T14:10:59ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynoldshttp://storage.ning.com/topology/rest/1.0/file/get/365008851?profile=RESIZE_48X48&width=48&height=48&crop=1%3A1http://www.fairtaxnation.com/profiles/blog/feed?user=1cqkynv314nwg&xn_auth=noThe Only time a tax can not be passed on to the consumer.tag:www.fairtaxnation.com,2012-10-24:2636007:BlogPost:417192012-10-24T15:14:00.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
<p>The only time the cost of a tax can not be passed on, is when the cost of the tax along with the other costs of production, prices a product out of competition with imports.</p>
<p><br></br> Our present system of taxing cascades at each step of production, burdening domestic products with more cost that imports don't have to contend with. The United Sates is currently the only one of the <a href="http://www.oecd.org/pages/0,3417,en_36734052_36761800_1_1_1_1_1,00.html">30 OECD member…</a></p>
<p>The only time the cost of a tax can not be passed on, is when the cost of the tax along with the other costs of production, prices a product out of competition with imports.</p>
<p><br/> Our present system of taxing cascades at each step of production, burdening domestic products with more cost that imports don't have to contend with. The United Sates is currently the only one of the <a href="http://www.oecd.org/pages/0,3417,en_36734052_36761800_1_1_1_1_1,00.html">30 OECD member countries</a> with no border adjustment element in its tax system. With the FairTax automatic border adjustments, the on average 17% competitive advantage of foreign producers would be eliminated, boosting U.S. competitiveness overseas and at home.</p>Fairness in the fairtaxtag:www.fairtaxnation.com,2011-12-31:2636007:BlogPost:1607712011-12-31T04:07:14.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
<p>Among the many ways the fairtax beings fairness to taxation is it introduces fair trade to free trade. Currently over 98% of everything that is imported into this country comes from a country that has a border adjustment in their tax code.<br></br><br></br>China reimburses their exporters up to 17% of the cost of their products to remove the cost of their VAT from their exports while charging the same 17% to imports. Mexico does the same with a 16% VAT, Canada with a 13% goods and service tax,…</p>
<p>Among the many ways the fairtax beings fairness to taxation is it introduces fair trade to free trade. Currently over 98% of everything that is imported into this country comes from a country that has a border adjustment in their tax code.<br/><br/>China reimburses their exporters up to 17% of the cost of their products to remove the cost of their VAT from their exports while charging the same 17% to imports. Mexico does the same with a 16% VAT, Canada with a 13% goods and service tax, Venezuela with a 12% VAT. As other countries remove taxes from their exports we leave the cost of taxes in our exports. Is it any wonder that we are left with a trade deficit exporting our nations wealth a net 600+ billion annually.<br/><br/> </p>I know support for the fairtax is not deadtag:www.fairtaxnation.com,2010-09-15:2636007:BlogPost:1110412010-09-15T20:00:00.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
<div>I know support for the fairtax is not dead and more post in support of the fairtax will help educate people on its virtues, e.g. its ability to turn the economy around, reverse the trade deficit, bring jobs back to america, make free trade fairer, increase productivity, eliminate 1/2 of lobbying in congress, make politicians listen to their constituents more, and eliminate billions of hours and billions of dollars spent to comply with a massively complex tax code, thereby leaving more…</div>
<div>I know support for the fairtax is not dead and more post in support of the fairtax will help educate people on its virtues, e.g. its ability to turn the economy around, reverse the trade deficit, bring jobs back to america, make free trade fairer, increase productivity, eliminate 1/2 of lobbying in congress, make politicians listen to their constituents more, and eliminate billions of hours and billions of dollars spent to comply with a massively complex tax code, thereby leaving more money in our pockets and time to spend with our families, building business, or spend that time and money on whatever we wish.</div>
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<div>If you believe passing the FairTax will do those things listed above and would like to do something (that doesn't cost money) to help make it happen, then as you have time and are inclined, search for opportunities to promote the FairTax, provide rebuttals to lies, smears and distortions, and encourage your like minded friends to help as they are able.</div>
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<div>I have been looking around <a href="http://youtube.com">Youtube</a> for ways to promote, educate, and advertise the fairtax. I have noticed virtually no post on the fairtax as an alternative to the income tax on tax filing advertisements such as H&R Block, Turbo Tax, or Liberty Tax. I believe it would be a good thing to promote the fairtax on tax filing advertisements. Your post would not only reaches other viewers but the video poster as well.</div>
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<div>With a lot of grass roots work, maybe with in the next few years we can get the fairtax out of the house ways and means committee, to the house floor, passed and signed into law.</div>What is this business about the fairtax collecting taxes from Government consumption.tag:www.fairtaxnation.com,2009-06-15:2636007:BlogPost:637972009-06-15T02:30:00.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
<p>An important thing to remember is that the fairtax replaces the income tax.</p>
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<p>In order to understand why the fairtax taxes government consumption, we need to first understand how government collects taxes from government's spending under present income taxes. To simplify the discussion, imagine a group of people on an island. Every year, each chips in 22% of his income to pay for things important to the group.</p>
<p style="text-align: left;"><img alt="" height="395" src="http://storage.ning.com/topology/rest/1.0/file/get/403589637?profile=original" width="512"></img></p>
<p>One year…</p>
<p>An important thing to remember is that the fairtax replaces the income tax.</p>
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<p>In order to understand why the fairtax taxes government consumption, we need to first understand how government collects taxes from government's spending under present income taxes. To simplify the discussion, imagine a group of people on an island. Every year, each chips in 22% of his income to pay for things important to the group.</p>
<p style="text-align: left;"><img src="http://storage.ning.com/topology/rest/1.0/file/get/403589637?profile=original" alt="" width="512" height="395"></p>
<p>One year the people decided they need a bridge to get to the other island. Among them were some bridge builders that bid on the project. One was awarded the contract. He built the bridge, and was payed from the treasury upon completion.</p>
<p style="text-align: left;"><img src="http://storage.ning.com/topology/rest/1.0/file/get/403590408?profile=original" alt="" width="512" height="395"></p>
<p>The group's spending is income for some of its members. When they pay their income tax, it is counted along with other members of the group in next year's tax receipts.</p>
<p style="text-align: left;"><img src="http://storage.ning.com/topology/rest/1.0/file/get/403591868?profile=original" alt="" width="512" height="395"></p>
<p>Because individuals that receive payments from the group for their services also pay 22% of their earnings as tax to their government, 22% of government's spending will count in next years tax receipts.</p>
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<p>If the government buys loafs of bread and distributes them, how is that not end consumption. Why should it be not taxed under the fairtax? To not tax it will give the perverse and false sense that it is cheaper to get things we need from the government when in fact they cost the same or (because of reduced economic output under socialisim) cost more</p>
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<p>In America, corporate income, capitol gains, payroll, and personal income taxes are embedded in the cost of city, state, and federal government spending on both their government employees, and their purchases. Those embedded cost account for about 22% of all city state and federal spending. The fairtax removes those cost and replaces them with a simple revenue neutral consumption tax on all new products and services, including government consumption.</p>One of the major reasons for tax reform is to simply the tax code and lessen the regulatory expenses it imposes to a more productive economy.
(cost of tax preparation)/(taxes revenues collected) = (…tag:www.fairtaxnation.com,2009-06-11:2636007:BlogPost:632772009-06-11T06:01:12.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
One of the major reasons for tax reform is to simply the tax code and lessen the regulatory expenses it imposes to a more productive economy.<br />
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(cost of tax preparation)/(taxes revenues collected) = (efficiency of tax collecting). $350 billion to prepare taxes / $2,528 billion in “2008 federal receipts” = 13.845% inefficient<br />
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The fairtax has a low cost of collection. At about 90% less costly the Fairtax would only be about 1.4% inefficient leaving more money in the economy to be used more…
One of the major reasons for tax reform is to simply the tax code and lessen the regulatory expenses it imposes to a more productive economy.<br />
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(cost of tax preparation)/(taxes revenues collected) = (efficiency of tax collecting). $350 billion to prepare taxes / $2,528 billion in “2008 federal receipts” = 13.845% inefficient<br />
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The fairtax has a low cost of collection. At about 90% less costly the Fairtax would only be about 1.4% inefficient leaving more money in the economy to be used more productively, providing better and less costly products and services for consumers, both domestic and abroad. Less costly and better products means more consumers of American made goods, resulting in more jobs.Free Markets auto correcttag:www.fairtaxnation.com,2009-06-02:2636007:BlogPost:605772009-06-02T17:30:00.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
Government ineptness in tax policy and the effects on production while complicit doesn't excuse GM for it failing. GM's failing is a result of not just taxes punishing production that chase jobs out of America, but a chain of choices and compromises with an equally complicit union.<br />
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Unions can not vote them self's more value for work performed. Only a free market can ultimately determine wage, artificial constructs forced on a companies create inefficiencies in the market. Eventually they are…
Government ineptness in tax policy and the effects on production while complicit doesn't excuse GM for it failing. GM's failing is a result of not just taxes punishing production that chase jobs out of America, but a chain of choices and compromises with an equally complicit union.<br />
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Unions can not vote them self's more value for work performed. Only a free market can ultimately determine wage, artificial constructs forced on a companies create inefficiencies in the market. Eventually they are corrected though the failure of those business and the success of those that adhere most closely to the natural principles of a free market.<br />
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The same applies to nations and the markets they construct. The income tax is just one of those artificial constructs that create inefficiencies, resulting in an eventual correction either though our ultimate failure or success in adopting principles of a more free market.<br />
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The Fairtax from a taxing perspective, imposes the least amount of market distortions.<br />
No longer can lobbyist distort the market though tax favors, therefor the fairtax supports a freer market with out artificial constructs. the fairtax removes many of the inefficiencies that income, capitol gains, corporate income, and payroll tax puts on America's economy.States with no income tax are doing better then states with no sales tax.tag:www.fairtaxnation.com,2009-05-27:2636007:BlogPost:590182009-05-27T04:29:11.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
Looking at it from this angle overly simplifies each state, but adding up the numbers<br />
<a href="http://www.bls.gov/eag/home.htm">U.S. Bureau of Labor Statistics</a><br />
Data extracted on: May 22, 2009<br />
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States with no income tax have a labor force of 26,845,500 and 2,183,200 unemployed for an average unemployment rate of 8.13%<br />
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States with no sales tax have a labor force of 5,824,300 and 541,600 unemployed for an unemployment rate of 9.3%<br />
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States with no income tax are doing better then states with…
Looking at it from this angle overly simplifies each state, but adding up the numbers<br />
<a href="http://www.bls.gov/eag/home.htm">U.S. Bureau of Labor Statistics</a><br />
Data extracted on: May 22, 2009<br />
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States with no income tax have a labor force of 26,845,500 and 2,183,200 unemployed for an average unemployment rate of 8.13%<br />
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States with no sales tax have a labor force of 5,824,300 and 541,600 unemployed for an unemployment rate of 9.3%<br />
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States with no income tax are doing better then states with no sales tax.Why the fairtax?tag:www.fairtaxnation.com,2009-04-09:2636007:BlogPost:413112009-04-09T13:30:00.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
One day some guys sat around and thought about the problems with our present taxes, wondering if there were a better way to fund the federal government with out the problems the current tax system has. Years latter, and $22 million spent researching, and developing a tax system that would work, came the FairTax. The only agenda that the FairTax has, is to get rid America of the problems generated from our present system of taxing.<br />
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We FairTax supporters have been persuaded though logic and our…
One day some guys sat around and thought about the problems with our present taxes, wondering if there were a better way to fund the federal government with out the problems the current tax system has. Years latter, and $22 million spent researching, and developing a tax system that would work, came the FairTax. The only agenda that the FairTax has, is to get rid America of the problems generated from our present system of taxing.<br />
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We FairTax supporters have been persuaded though logic and our own research to conclude that changing to the fairtax will have profound effects on our economy.<br />
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We believe that income and payroll taxes<br />
(1) retards economic growth and has reduced the standard of living of the American public;<br />
(2) impedes the international competitiveness of United States industry;<br />
(3) reduces savings and investment in the United States by taxing income multiple times;<br />
(4) slows the capital formation necessary for real wages to steadily increase;<br />
(5) lowers productivity;<br />
(6) imposes unacceptable and unnecessary administrative and compliance costs on individual and business taxpayers;<br />
(7) is unfair and inequitable;<br />
(8) unnecessarily intrudes upon the privacy and civil rights of United States citizens;<br />
(9) hides the true cost of government by embedding taxes in the costs of everything Americans buy;<br />
(10) is not being complied with at satisfactory levels and therefore raises the tax burden on law abiding citizens;<br />
(11) impedes upward social mobility;<br />
(12) raise the cost of employment; <=-- payroll<br />
(13) destroy jobs and cause unemployment; <=-- payroll<br />
(14) have a disproportionately adverse impact on lower income Americans. <=-- payroll taxes<br />
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We believe the fairtax<br />
(1) is similar in many respects to the sales and use taxes in place in 45 of the 50 States;<br />
(2) will promote savings and investment;<br />
(3) will promote fairness;<br />
(4) will promote economic growth;<br />
(5) will raise the standard of living;<br />
(6) will increase investment;<br />
(7) will enhance productivity and international competitiveness;<br />
(8) will reduce administrative burdens on the American taxpayer;<br />
(9) will improve upward social mobility;<br />
(10) will respect the privacy interests and civil rights of taxpayers.Post fairtax and pricestag:www.fairtaxnation.com,2009-04-08:2636007:BlogPost:413012009-04-08T22:07:27.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
Maybe it is hard for some to believe business will lower their price. Maybe they never ran a business.<br />
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My prices will be adjusted starting January 1st the year the fairtax goes into effect; to reflect my new cost with out production taxes, and lowered compliance cost. I will also aggressively place ads in order to capture my competitors clients. Switching to the fairtax is an opportunity to increase my market share by offering lower priced items then my competitors that are slower to do the…
Maybe it is hard for some to believe business will lower their price. Maybe they never ran a business.<br />
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My prices will be adjusted starting January 1st the year the fairtax goes into effect; to reflect my new cost with out production taxes, and lowered compliance cost. I will also aggressively place ads in order to capture my competitors clients. Switching to the fairtax is an opportunity to increase my market share by offering lower priced items then my competitors that are slower to do the same. They better be on the ball or their clients will chose my products instead.<br />
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Because I intend on providing the lowest priced items for my customers, you can sure bet that i will have price agreements with upstream material suppliers that have also adjusted their prices. Competition is a reality all business have to contend with.Promoting the fairtax @ whitehouse2.orgtag:www.fairtaxnation.com,2009-04-08:2636007:BlogPost:412752009-04-08T21:29:51.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
Thank you fairtax supporters for your endorsements of the fairtax at http://fairtax.whitehouse2.org/ . Because of you we've pushed the fairtax to #1 on the site. If you have not yet made an endorsement then please do and add comments or talking points helpful to the fairtax. Remember to post comments in priorities that relate to the fairtax or that the fairtax fixes.
Thank you fairtax supporters for your endorsements of the fairtax at http://fairtax.whitehouse2.org/ . Because of you we've pushed the fairtax to #1 on the site. If you have not yet made an endorsement then please do and add comments or talking points helpful to the fairtax. Remember to post comments in priorities that relate to the fairtax or that the fairtax fixes.Income tax and colateral damage.tag:www.fairtaxnation.com,2009-04-07:2636007:BlogPost:409412009-04-07T23:26:12.000ZKeith Reynoldshttp://www.fairtaxnation.com/profile/KeithReynolds
The income tax when used as a weapon in class warfare, levies terrible collateral damage to the whole of America.
The income tax when used as a weapon in class warfare, levies terrible collateral damage to the whole of America.