My official stance - 0% Corporate Tax - go to the fair tax system. Simple. Pure. No lobbyists trading tax breaks for jobs.

http://fairtax.org/index
......

"How does the fair tax affect U.S. competitiveness in foreign trade?

Because the FairTax is automatically border adjustable, the 17 percent competitive advantage, on average, of foreign producers is eliminated, immediately boosting U.S. competitiveness overseas. American companies doing business internationally are able to sell their goods at lower prices but at similar margins, and this brings jobs to America.

In addition, U.S. companies with investments or plants abroad bring home overseas profits without the penalty of paying income taxes, thus resulting in more U.S. capital investment.

And at last, imports and domestic production are on a level playing field. Exported goods are not subject to the FairTax, since they are not consumed in the U.S.; but imported goods sold in the U.S. are subject to the FairTax because these products are consumed domestically."

How will the fair tax plan affect economic growth?

With the penalty for working harder and producing more removed, Americans are free to keep every dollar they earn, and a new era of economic growth and job creation is unleashed. Hidden taxes are history, Americans are able to save more, and businesses invest more. Capital formation, the real source of job creation and innovation, is facilitated. Gross domestic product (GDP) increases by an estimated 10.5 percent in the first year alone. The FairTax as proposed raises the economy’s capital stock by 42 percent, its labor supply by 4 percent, its output by 12 percent, and its real wage rate by 8 percent.

As U.S. companies and individuals repatriate, on a tax-free basis, income generated overseas, huge amounts of new capital flood into the United States. With such a huge capital supply, real interest rates remain low. Additionally, other international investors will seek to invest here to avoid taxes on income in their own countries, thereby further spurring the growth of our own economy.

- See more at: https://fairtax.org/faq#sthash.p8j1wC4w.dpuf

Is the "fair" tax revenue neutral?

Posted by bad_luck on 6/9/2015 4:57:00 PM (view original):
Is the "fair" tax revenue neutral?

Does the FAIRtax rate need to be much higher to be revenue neutral?

The proper tax rate has been carefully worked out; 23 percent does the job of: (1) raising the same amount of federal funds as are raised by the current system, (2) paying the universal rebate, and (3) paying the collection fees to retailers and state governments. Unlike some other proposals, this rate has been independently confirmed by several different, nonpartisan institutions across the country. Detailed calculations are available in the research section.

- See more at: https://fairtax.org/faq#sthash.uPXPYQbR.dpuf

So...that's a yes?


****please stop cut/paste. If you're as smart as you think you are, you should be able to discuss this.

Posted by bad_luck on 6/9/2015 5:40:00 PM (view original):
So...that's a yes?


****please stop cut/paste. If you're as smart as you think you are, you should be able to discuss this.

Yes. Its all in the FAQs but I know how lazy you are without a link

If its revenue neutral, whose tax burden gets shifted?

Posted by bad_luck on 6/9/2015 5:54:00 PM (view original):
If its revenue neutral, whose tax burden gets shifted?

http://fairtax.org/articles/How-To-Measure-The-Effects-of-the-FAIRtax-on-Different-I%E2%80%8Bncome-Brackets%E2%80%8B


The prebate makes the fairtax progressive. The poor get a monthly check from the govt to pay for sales taxes meaning they pay $0 in taxes up to the poverty line. In fact - if the poor or anyone buys used goods they pay no sales taxes. Only new goods and services are taxed. Part of what makes up the revenue gap is the taxation on services, which are not taxed now in most states and the wealthy pay for more services than the poor.

So the poor don't pay more, and its revenue neutral, so the rich don't pay more either. What's the point? Same overall amount of taxes collected from the same people.

Seems like a big waste of time.



****thanks for the continued copying and pasting. I guess you aren't able to actually discuss this.

Posted by bad_luck on 6/9/2015 6:47:00 PM (view original):
So the poor don't pay more, and its revenue neutral, so the rich don't pay more either. What's the point? Same overall amount of taxes collected from the same people.

Seems like a big waste of time.



****thanks for the continued copying and pasting. I guess you aren't able to actually discuss this.

I didn't copy and paste. I typed that up.

The web URL is so you can educate yourself on the subject.

Ok. And my first point?

Posted by bad_luck on 6/9/2015 7:03:00 PM (view original):
Ok. And my first point?

The tax burden is progressive on consumption. I unlike you don't have an infatuation with rich people.

A poor person can MAKE money off the prebate. That's a good thing.

The middle class don't get taxed to death on interest and market gains so they can accrue wealth freely.

Services should probably be taxed as it is. Thats a good thing. The rich pay for more services.

Illegal activity (like drug dealing) and undocumented immigrants now pay taxes into the system whereas now they do not.

I've already posted the benefit for import/exports. For us to export goods at 0% taxes means our goods can be priced better internationally (driving up demand and creating more jobs). On the flip side exports sold in the US are taxed which helps invert the trade deficit (and gets the US paid for all those cars sold in the US that were made in mexico)

No more IRS or individual tax returns - save money on tax fraud - with only businesses paying sales taxes there are FAR fewer tax payers to surprise audit.

If you make $50k a year you take that home with you rather than giving it to Uncle Sam right away.

No taxes on used items drives reusable goods sales which is better for the environment.

No more lobbyists getting tax breaks or credits from Washington.

No more politicians leveraging tax breaks to butter up special interest groups.

I can go on....

It's not an infatuation with rich people.

If, in general, people end up paying the same amount, it seems like a waste of time.

Posted by bad_luck on 6/9/2015 7:37:00 PM (view original):
It's not an infatuation with rich people.

If, in general, people end up paying the same amount, it seems like a waste of time.

With no individual tax returns filed it saves 300,000 trees annually and by not filing taxes saves tens of thousands of individuals from tax scams and identity theft. Is it still a waste of time?

I just listed off about 10 other reasons.


But let's just say everyone saves money in taxes (and the poor still MAKE money)... This government under any tax system has a duty to be fiscally responsible and start doing more with less money. The irresponsible spending and fraud in Washington has got to be reeled in.