Replace All Federal Taxes on Income with the Fair Tax Act , HR 25 and S 122
FULL of LOOPHOLES
Under your scenario I would pay into SS according to my spending habits and pull out according to my stated earning habits. Which would be great for me personally since I am a very frugal, self employed person. I would end up making minimum contributions and maximum withdrawals. I get to control both !!
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Comment by Douglas Fowler on June 21, 2011 at 4:30pm -
http://www.fairtaxnation.com/forum/topics/discussing-the-merit-of-the
Why don't we continue this discussion here. This is the forum.
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Comment by Douglas Fowler on June 21, 2011 at 4:29pm
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That's actually a good thing though. Shouldn't you be encouraged to save your money? By taxing every little bit on money that you make, you are punishing people who are spend-thrifts! Spending is what got us into this crisis we are in now. The average American has $10,000 in credit card debt. It's time to encourage people to not spend like drunken sailors. The current tax code give NO incentive to save their money.
You said it yourself... "it's great for you." I don't understand why you see that as a loophole.
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