Hey John, I am meeting with a group this evening to watch Glenn Beck's " We Surround Them" and will discuss this further. Have unfortunately not gotten much response from the emails I sent. Will try face to face and will let you know. I would love to host a meeting where you could give more info and answer questions. Kathy
I noticed a question about rents on the NC6 group and thought this might help. Rents are taxed under the FairTax however, that is not a comparative disadvantage to the current system where rents are also taxed.
The simpliest way to state it is that the FairTax simple moves the location of taxation from the front of your income where it isn't seen to the end of your consumption where it is seen.
First, ignore the standard deduction/personal exemption of the current system and likewise the FairTax prebate. They serve the same purpose but the prebate is larger (better) at every family size. So to compare, just focus on marginal rates. The lowest permanent rate today is 15%. Add in 7.65% paid by an employee in payroll taxes and you have a total of 22.65%. Since rent is paid with aftertax nondeductible dollars today, you must earn $130 before taxes for every $100 in rent. The FairTax simply allows you to take home the entire $130 and assuming NO pretax reduction in prices, the total after tax cost is $130. There is zero impact. However we have not included the benefits of removed embedded costs including the employers share of payroll tax, more control over your entire tax burden increased job opportunities (greater demand creates opportunity for higher earnings), increased productivity from new capital put to use, etc.
This same comparison can be made for food, clothes etc. The FairTax simply moves the point of taxation with many, many other benefits that spring from that simple action.
John, they require an outline of what you plan to present to the residents and that has to go to the commity for review. I'm not sure after reading some of the feedback if the seniors in this age group will be very responsive. The real activists for the Fairtax, as far as seniors, will probably be the 50-65 age group. They would be more likely to contact their representatives and do the pushing we need.
Hi John, I was wondering what was going on with the Fair Tax movement. Last I saw you was at the August meeting when we were the only ones there. Russell had told me that we were going to meet somewhere else because of the renovation at the library. I never did hear anything and my emails were not returned. Glad to see the movement is still going and I will be at the meeting on the 10th.
John, there shoud be two files attached to message I sent: FTaxSlimJimBack012409 and FTaxSlimJimFront010209; both in pdf format. If you want it in Publisher so you can make changes, send me your email address to: email@example.com
FTaxSlimJimBack012409.pdfJohn, where shall I send the SlimJim files. I don't know how to get it to you from this site. I'm going to try using the Upload a File icon (have never done that). Hey it looks like it worked. Let me know.