Joshua price's Posts - Fair Tax Nation2024-03-19T04:34:15ZJoshua pricehttp://www.fairtaxnation.com/profile/Joshuapricehttp://storage.ning.com/topology/rest/1.0/file/get/365023836?profile=RESIZE_48X48&width=48&height=48&crop=1%3A1http://www.fairtaxnation.com/profiles/blog/feed?user=3gnowq1zb9clt&xn_auth=noThe FairTax Equals Real Economic Recoverytag:www.fairtaxnation.com,2011-08-13:2636007:BlogPost:1492352011-08-13T02:00:00.000ZJoshua pricehttp://www.fairtaxnation.com/profile/Joshuaprice
Imagine replacing over 70,000 pages of purposely complex tax code, with a simple fair code that just barely breaks 130 pages in length. It's far more possible than you might think.<br></br>
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The FairTax replaces multiple forms of federal taxation with a simple 23% inclusive tax at the point of retail sale on new goods and services. This landmark legislation eliminates income taxes and payroll taxes [In other words: You'll get your entire paycheck]. It removes the regressive AMT tax, that's…
Imagine replacing over 70,000 pages of purposely complex tax code, with a simple fair code that just barely breaks 130 pages in length. It's far more possible than you might think.<br/>
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The FairTax replaces multiple forms of federal taxation with a simple 23% inclusive tax at the point of retail sale on new goods and services. This landmark legislation eliminates income taxes and payroll taxes [In other words: You'll get your entire paycheck]. It removes the regressive AMT tax, that's threatening more and more middle class families every year. It eliminates double taxation in the form of corporate taxes. I call corporate taxes double taxation because only individuals pay taxes. Politicians use this corporate tax fraud to trick Americans into paying higher taxes. But the truth is any corporate tax is paid by the consumer at the final point of sale, removed from employee's wages, or collected out of the dividends paid to shareholders. It also eliminates capital gains taxes, death taxes, gift taxes, etc...<br/>
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The FairTax starts with one simple idea... tax everyone, tax them at the same percentage, and tax them on their retail spending, instead of taxing productive wealth creating endeavors. In other words, the FairTax is designed to produce wealth. Contrast that with our current tax code, which is largely used for purposes of wealth redistribution and different forms of social engineering. <br/>
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The FairTax is also quite voluntary. How can a retail sales tax be voluntary you ask? Under the FairTax there are two ways an individual can stop paying taxes, or at least greatly reduce their tax burden. First, the prebate. Each American family will be given a monthly prebate to cover spending on the basic necessities of life. If you decide your money is a little tight, simply quit spending on retail goods above and beyond what it cost to dress and feed your family. And this is plenty of money for the average family... the prebate for a family of 4 covers up to $2,400.00 in tax free retail spending per month, and this amount will vary depending on family size. The second method to reduce or avoid the burden of taxation, you're gonna love... Because the FairTax believes in eliminating double taxation, they've done something the Washington class could never have dreamt up. Taxes on used goods are gone, affording the individual consumer an even higher level of economic freedom.<br/>
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What can this sort of economic freedom do for an ailing economy? Well, according to the $22 million in research quite a bit...<br/>
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First, we need to realize what our tax code does. It punishes wealth. So, as a result there is an estimated $10 to $13 trillion dollars overseas in tax shelters just waiting to come back home and work in our economy. The Fairtax removes all taxes associated with doing business. Meaning, America would rapidly become the desired home for job creation in the world.<br/>
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We've all seen the sluggish GDP numbers coming out each quarter; .4% growth, 1.4% growth, etc... Well, the FairTax puts America on steroids. According to research from the Beacon Hill Institute, our nations GDP would be 7.9% higher in year one and 10.9% higher by year 10. <br/>
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And we're all to familiar with these stagnant unemployment numbers... holding steady at 9-10%, with underempolyment closer to 18%. Let's just put it this way. In a FairTax economy, you'd have to hide under your mother's skirt to stay unemployed with the flood of job creating capital that would wash onto our shores. Further more, real wages are predicted to be 10% higher on average, as per the Beacon Hill institute.<br/>
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You see, the FairTax is not just another Washington scheme. It's was designed and researched by individuals in the private sector to maximize prosperity. It is a plan that must be pushed onto the ruling class and it is a plan that the establishment in DC will likely reject because as Neal Boortz says, “The FairTax is the biggest, most massive transfer of power from the Government to the people in the history of this country since the Declaration of Independence freed us from the King of England.”<br/>
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But it's not at all hopeless. There are already 67 cosponsors in the House and 9 cosponsors in the Senate. The FairTax just had its first full hearing in front of The Ways and Means Committee, the committee reponsible for writing tax code. It's supported by millions of hardworking patriotic Americans and with your help, working to elect politicians who push the FairTax, we can redefine what it means to pay taxes. We can do away with the IRS, eliminate 90% of this nations tax compliance burden, and start down the road to some real prosperity!Embedded Taxes, this concept is key!tag:www.fairtaxnation.com,2009-07-12:2636007:BlogPost:674442009-07-12T18:45:26.000ZJoshua pricehttp://www.fairtaxnation.com/profile/Joshuaprice
FairTax~ the concept of embedded taxes is very important to understanding the fairtax. This is where we lose lots of people, so let's see if a simple explanation can win them back.<br />
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It's very simple if a toaster costs $100 before the fairtax it will costs $100 after the fairtax is implemented. Currently their is a 22% embedded fed tax on everything you purchase. Consisting of taxes on materials, tax burden of employees that make the products and Corporate taxes paid out by the business, which…
FairTax~ the concept of embedded taxes is very important to understanding the fairtax. This is where we lose lots of people, so let's see if a simple explanation can win them back.<br />
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It's very simple if a toaster costs $100 before the fairtax it will costs $100 after the fairtax is implemented. Currently their is a 22% embedded fed tax on everything you purchase. Consisting of taxes on materials, tax burden of employees that make the products and Corporate taxes paid out by the business, which by the way Corp taxes are nothing more than double taxation on the consumers and share holders. It's a fact that the end consumer always pays the tax man.<br />
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Back to our toaster, since under the fairtax all of these tax burdens are removed the toaster now costs $78, and believe me, competitive market forces will dictate that the businesses will drop their prices by the amount saved in taxes. Now we take our toaster and tack on the 23% inclusive fairtax. What are we left with, a $100 dollar toaster purchased with someone's entire paycheck.<br />
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Not to mention the monthly prebate they will recieve based on family size. That's true purchasing power and you still easily have settled your federal tax burden. No more need to worry about April 15th.FairTax, How it can Empower You?tag:www.fairtaxnation.com,2009-07-12:2636007:BlogPost:674262009-07-12T17:50:50.000ZJoshua pricehttp://www.fairtaxnation.com/profile/Joshuaprice
FairTax is a revolutionary change in the relationship between government and its citizenry! Currently American citizens are represented by congress, but not before our amazing elected representatives take care of the K-Street lobbyists.<br />
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Lobbyists exists for one reason, to represent their companies or individual concerns and try and take advantage of available tax loopholes. In all honesty, who can blame companies for sending lobbyists to DC to try and protect as much of their capital from the…
FairTax is a revolutionary change in the relationship between government and its citizenry! Currently American citizens are represented by congress, but not before our amazing elected representatives take care of the K-Street lobbyists.<br />
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Lobbyists exists for one reason, to represent their companies or individual concerns and try and take advantage of available tax loopholes. In all honesty, who can blame companies for sending lobbyists to DC to try and protect as much of their capital from the hands of government as possible.<br />
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The issue is the corruption that eminates from such a system. Lobbyists get access to tax favors through bribes, campaign contributions, favors to individual politicians, etc... All of this has a direct impact on your representation in Washington. Instead of your concerns and your campaign contributions determining your representation, they are essentially bought and paid for before you even know what happened.<br />
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With the FairTax, the 16th ammendment and 67,000 pages of tax clutter are thrown out the door. The FairTax eliminates income, payroll, AMT, death, corp, capital gains taxes.... and replaces them with a simple 23% inclusive consumption tax levied on new retail goods or services. With the simplification of our tax code lobbyists can finally go home to their freinds and family! There will no longer be a need for businesses to have representation in Washington because they will no longer carry a tax burden, of which the consumer always bares in the end in the form of higher prices. With these changes politicians will once again focus on the constituents that reside in their districts.<br />
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One last thing, the government will cover your tax burden with a prebate up to the poverty level. This will allow you through spending habits to grab hold of your government and force them to listen to you. Simply purchase less retail goods and services. Your representatives will listen to you very quickly when their beloved tax revenue begins drying up.<br />
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Bottom line, If you want to take your power back, and once again have a voice in this great representative republic, stand up and demand the FairTax.How Easy is it to Fix this Economy?tag:www.fairtaxnation.com,2009-07-12:2636007:BlogPost:674252009-07-12T17:48:52.000ZJoshua pricehttp://www.fairtaxnation.com/profile/Joshuaprice
How easy is it to fix this economy? I would suggest that it's simple but the answer is not a freindly one in the eyes of the entrenched beaurocrats.<br />
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1st step, eliminate all Corp taxes. Understand businesses don't pay taxes, they are merely collectors for the state. A tax levied on a business will show up as a tax to the consumer in the form of higher priced goods. Elimination of these taxes would drive down the real costs of all purchased goods and services.<br />
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Eliminate all federal withholdings…
How easy is it to fix this economy? I would suggest that it's simple but the answer is not a freindly one in the eyes of the entrenched beaurocrats.<br />
<br />
1st step, eliminate all Corp taxes. Understand businesses don't pay taxes, they are merely collectors for the state. A tax levied on a business will show up as a tax to the consumer in the form of higher priced goods. Elimination of these taxes would drive down the real costs of all purchased goods and services.<br />
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Eliminate all federal withholdings on Americans paychecks. No more, income, payroll, Medicare, social security, etc.. Give Americans their entire paychecks to stimulate the economy. These taxes will be replaced by a 23% inclusive consumption tax levied only on NEW goods bought at a retail level. This tax will be inserted in place of the 22% embedded taxes that will be removed from Americans business costs. Because of the broadbase, everyone pays upon purchasing new retail goods, this 23% consumption tax will be revenue nuetral and fund the gov at it's current levels.<br />
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Within no time, the economy, as measured by GDP will boom. Studies show by the 10th year there will be an 11.3% growth in GDP. A few more things, on top of families recieving their entire paychecks, they will be issued a prebate to cover the basic necessities of life. This tax plan doesn't want Americans paying taxes until passing poverty level spending, making it proggressive enough to satisy the left. Americans should be able to take care of their families before the government. This makes paying taxes truly optional!<br />
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Also, one last thing it will increase investing in companies, no more taxing investments. How fast do you think untaxed dollars could grow the American stockmarket? What's this common sense tax plan called. The FairTax!