Originally posted by: Queasy
Originally posted by: Xavier434
Originally posted by: darkxshade
That or everyone will start buying online
In order for the fairtax to work, that issue will have to be covered as well. I keep rereading a lot of the fairtax website to try and grasp a clear understanding here. Based on what they are telling me, I was wrong and it is actually the rich who will take the hit more than the mid-lower classes. I still fear the amount of income the government will get though. If that is proven to not be effected negatively then I may turn around and start supporting it.
Anyone have some more insight on that and could perhaps tell me in a simple way how that will work?
The Fair Tax was designed to be revenue neutral. Part of the reason is because individuals that previously escaped taxes will now have to pay the Fair Tax. The drug dealers, prostitutes, and criminals that Huckabee was talking about...they're not paying any taxes now to the tune of billions of dollars per year. Same with tax evaders. Same with foreign tourists.
Those extremely wealthy people that pay little or no taxes because they have no income and live off the wealth they've accumulated? They'll be paying the Fair Tax.
Another benefit of the Fair Tax is the amount of businesses it will attract back to the USA instead of scaring them off because they won't have to worry about complying with the massive tax code. The USA will turn into a business haven as a result creating more jobs and generating more money. Why did Chrysler setup shop in Germany when they merged with a German automobile company? Because the US corporate tax code was worse than Germany's!
It will also bring back the trillions sitting off-shore that people have hiding to avoid the current tax system.
Yes, there will likely be some fraud. But that is going to have happen with any system. Nothing is full-proof.
Ok, you are beginning to sell me on this idea. One last question. Which presidential candidates support the fair tax if any? I assume Huckabee does? I really do not like Huckabee at all since he supports tons of stuff that I am heavily against so I am wondering if any of the others support it or something similar.
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