Comments on: In support of The Fair Tax http://toddblog.net/2009/02/10/in-support-of-the-fair-tax/ It's pretty fun if you say it fast Sun, 25 Dec 2011 23:22:13 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Rob http://toddblog.net/2009/02/10/in-support-of-the-fair-tax/comment-page-1/#comment-1290 Rob Mon, 30 Mar 2009 02:53:59 +0000 http://toddblog.net/?p=576#comment-1290 The problem with the so-called "Fair" tax is that is isn't fair at all. As a percentage of income, poor people spend more of their incomes than rich people. They live paycheck to paycheck, spending every dime. Therefore, they would pay taxes at the highest rate. If you gave them a large deduction (i.e. the first 5000 you spend doesn't count) then the middle class ends up paying the highest percent. Rich people (the upper 1%) spend their money abroad at much higher rates than anyone elseand we wouldn't be able to tax that at all. Not a fair system. The problem with the so-called “Fair” tax is that is isn’t fair at all. As a percentage of income, poor people spend more of their incomes than rich people. They live paycheck to paycheck, spending every dime. Therefore, they would pay taxes at the highest rate. If you gave them a large deduction (i.e. the first 5000 you spend doesn’t count) then the middle class ends up paying the highest percent. Rich people (the upper 1%) spend their money abroad at much higher rates than anyone elseand we wouldn’t be able to tax that at all. Not a fair system.

]]> By: Brad http://toddblog.net/2009/02/10/in-support-of-the-fair-tax/comment-page-1/#comment-1224 Brad Fri, 13 Feb 2009 13:59:52 +0000 http://toddblog.net/?p=576#comment-1224 The "stimulus" package now almost sure to pass is a big step back for fair tax proponents. It's loaded with tax advantages for people who already don't pay federal income tax. Under the stimulus plan the EIC goes up. I doubt anyone who gets a Christmas bonus rather than paying taxes under the current system will want to switch things around. Except for me of course. I qualified for the EIC and got a refund higher than my liability. But both my sense of justice and my political belief system compells me to support the fair tax. The “stimulus” package now almost sure to pass is a big step back for fair tax proponents. It’s loaded with tax advantages for people who already don’t pay federal income tax. Under the stimulus plan the EIC goes up. I doubt anyone who gets a Christmas bonus rather than paying taxes under the current system will want to switch things around.

Except for me of course. I qualified for the EIC and got a refund higher than my liability. But both my sense of justice and my political belief system compells me to support the fair tax.

]]> By: Levon Walker http://toddblog.net/2009/02/10/in-support-of-the-fair-tax/comment-page-1/#comment-1208 Levon Walker Tue, 10 Feb 2009 20:27:01 +0000 http://toddblog.net/?p=576#comment-1208 Sounds fair to me. Sounds fair to me.

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