Just got it: fair tax
At first, when reading everyone's take of the proposed "fair sales tax" instead of income taxes, I got really confused! But, then as I used logic and pure common sense to calculate the differences, I soon came to realize how simple and accurate it could be!
One's paycheck now is whatever you and your employer have agreed upon, less deductions by law and what you volunteer to have deducted,
Then you file the forms in April or sooner, or have the date extended, or don't file at all, or lie in the form, after having specialists in taxes sort through your special considerations.
If you don't work much but have investment income--then that is a different story. You simply hire even more expensive experts who rig it so you don't ever pay any taxes, except maybe social security. The very most you will have to pay would be less than some guy making $45,000 per year!
Now, the "fair sales tax" is equally simple-minded---I mean simple.
Since most of us average $40,000 per year, we of course will pay more tax under the "fair sales tax" system
than we do now under IRS! Howsomever, we will get a check or script or a card--good for purchases of anything we want, to help cover the deduction we get for necessities of live. Those making fifty million will also get the check, and those making over $40,000- all the way up to the fifty million. Anyone making over fifty million- such as bankers, hedge-fund managers, oil people, etc., can get theirs also but they don't need it because their company buys everything they need for free.
Of course the check that most people under $40,000 will get will be spent on day one, paying bills or for stuff they haven't had any of in a month!
I guess soldiers will get the checks also! Maybe even prisoners and people on welfare, and illegal immigrants. It is getting more simpler if you will notice?
I personally plan to ruin a very large black market in private sales away from those pesky cash registers that add the 25-35% "fair sales tax" to everything.
Goods and services can be had, off the register, believe you me!
Certain industries will of course die due to a huge increase in cost--such as books, health care, and vacations.
Some say these people will hold the current price, plus inflation, but I don't see that happening.
Why don't we let Puerto Rico and the Samoan Islands run a test on it first and see how it goes?
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