- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Winter Olympics
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
1
Posted on 4/17/25 at 9:48 am to Ostrich
quote:
It's not if you're paying the same amount in taxes, just in a different form
That's remarkably myopic and again demonstrates a fundamental lack of understanding about the pervasive nature of the current income tax structure.
Tax Day was on Tuesday. If your return indicated that you owed federal income tax and that amount was not paid, you'd rack up late penalties, underpayment penalties, etc, until...
The IRS determined that your delinquent tax bill went unpaid too long.
The first thing they'd do is reach out to your employer and give them notice that they were about to garnish your wages at a confiscatory level.
If that Cosa Nostra level of coersion wasn't sufficient, they'd issue tax liens against your property, auction off your possessions, and eventually they'd imprison you for failure to pay that tax owed.
Please tell me how that is the same as paying virtually the same prices you currently do at retail, only purchased with your entire paycheck, rather than giving the IRS prima nocte rights with your earnings.
If those are the same scenarios in your mind, there's nothing else for us to discuss.
Posted on 4/17/25 at 9:49 am to MintBerry Crunch
quote:
Only exemption is natural foods, animals included
No, because you just invited lobbyists and congress critters to define what "natural" is.
"No exemptions" reduces federal power.
Posted on 4/17/25 at 9:55 am to VoxDawg
quote:
Please tell me how that is the same as paying virtually the same prices you currently do at retail, only purchased with your entire paycheck, rather than giving the IRS prima nocte rights with your earnings.
It's not the same atleast for me personally, because I would be spending a lot less so as to pay fewer in taxes.
This post was edited on 4/17/25 at 9:55 am
Posted on 4/17/25 at 10:04 am to scottydoesntknow
quote:
It would raise your sales tax rate by an additional 27-29%(Almost 40% sales tax rate here in AL) You would receive a monthly prebate of ~$250 monthly. Some more depending on income level. No income tax.
Everyone would have to take a 30% or so pay cut for prices to stay the same. Boortz admitted it in his second book on the subject.
It all sounds good, but I think the transition is just unworkable.
Posted on 4/17/25 at 10:05 am to scottydoesntknow
Yes
Posted on 4/17/25 at 10:12 am to CharlesUFarley
quote:
Everyone would have to take a 30% or so pay cut for prices to stay the same. Boortz admitted it in his second book on the subject.
The FairTax Book: Addressing the Critics also came out in a pre-DOGE/pre-Trump 47 era where it was just assumed that all federal spending was needed and rightful to continue doing so.
The premise that federal spending is at an acceptable level and should be maintained is a false one and half of the problem to introducing any alternative forms of funding the government due to the mass hypnosis formation/Stockholm Syndrome we suffer from as American taxpayers who have never known anything other than the current income tax racket.
Posted on 4/17/25 at 10:13 am to Ostrich
quote:
I would be spending a lot less so as to pay fewer in taxes.
Do you currently seek to work/earn less to pay fewer income taxes?
Posted on 4/17/25 at 10:14 am to VoxDawg
quote:
Do you currently seek to work/earn less to pay fewer income taxes?
No because paying income tax isn't user-based
Posted on 4/17/25 at 10:15 am to Ostrich
quote:i’m sure a lot of people would say that
It's not the same atleast for me personally, because I would be spending a lot less so as to pay fewer in taxes.
same people who say “i’ll lose weight because i’ll be eating a lot less and cutting out between meal snacks from now on”
saying and doing are two different things
Posted on 4/17/25 at 10:18 am to Ostrich
quote:
No because paying income tax isn't user-based
Sure it is. The more you work, the higher your tax bracket(s) and the higher the rate that the income at/over those levels are taxed.
Being successfully gaslit by a predatory taxation system isn't the flex you've convinced yourself it is.
Posted on 4/17/25 at 10:21 am to VoxDawg
quote:
Sure it is. The more you work, the higher your tax bracket(s) and the higher the rate that the income at/over those levels are taxed.
Being successfully gaslit by a predatory taxation system isn't the flex you've convinced yourself it is.
But it's not optional like the FairTax would be.
So under your plan, you're either forced to pay the same taxes just collected a different way OR, you are wrecking the economy by dramatically reducing demand for products. But it can't be both.
Posted on 4/17/25 at 10:22 am to dewster
quote:
Can we exclude food from the sales tax?
Not for federal taxes. Food is covered under the prebate. No need to exclude it.
quote:
Louisiana is 9.5% (higher in some areas). My guess is that those local sales taxes would shift towards property taxes over time, which also kind of sucks.
The whole point of the Fair Tax is to simplify it so there is only on tax collecting mechanism - the sales tax. We need to stop concealing our taxes so we can pretend that we're not paying them. Corporate taxes, payroll taxes, wholesale taxes, etc, will all go away. No hidden taxes, no individual tax returns to fill out, and property taxes should GO AWAY. Once people get used to the idea of paying taxes through the sales taxes, it will only make sense for states to eliminate income and property taxes.
The end result is that the sales tax may be over 40% in some states, but it will be an inclusive tax. If you go into the store and the item you want to buy is 10 bucks, that INCLUDES the tax. you won't need $14 to buy a $10 item. It will be easier than what we have now.
The cost of compliance for individuals and businesses is estimated to be 8 billion hours of tim and well over 400 billion dollars. That is just the cost of filling out the returns. Imagine a system where you don't have to worry about taxes or the IRS, unless you have a retail business, in which case, you will still collect taxes like you do today, but the amounts will be much greater.
Posted on 4/17/25 at 10:24 am to dewster
quote:
Louisiana is 9.5%
False.
quote:
The current Louisiana state sales tax rate is 4.45%.
Whatever is above that is your local city or parish taxes.
It's not accurate to say LA state sales tax is 9.5%. It is not.
This is me currently...
quote:
The current sales tax rate in unincorporated St. Tammany Parish is 8.7% (4.45% of that belonging to the State).
This post was edited on 4/17/25 at 10:28 am
Posted on 4/17/25 at 10:25 am to scottydoesntknow
Yes. I think some of the assumptions about the ease of administration are off base but overall, yes.
Posted on 4/17/25 at 10:27 am to scottydoesntknow
The income tax punishes working people and consumption tax makes those who spend the most pay their fair share. If you want to see who spends the most go to the grocery store and see who has two carts full of chips and cokes and processed junk (food stamp people) while the working people pinch pennies trying to get by
You can’t spend money if you’re at work
You can’t spend money if you’re at work
Posted on 4/17/25 at 10:28 am to VoxDawg
quote:
In short - federal income taxes that corporations collect (paid by consumers) are practically replaced to the penny by the National Retail Sales Tax. That means price movement under this system would be negligible.
The math doesn't work on this. Neal Boortz used to push this, but the fact is, we aren't going to get $5T in tax revenue without our loaf of bread increasing in cost. We will eliminate the cost of compliance with the various tax collection methods, but we still have to get the money from somewhere.
Some items may see minimal increases, but some will go up by a lot.
Posted on 4/17/25 at 10:32 am to scottydoesntknow
quote:
No income tax.
quote:Is that you Richard Nelson???
It would raise your sales tax rate by an additional 27-29%(Almost 40% sales tax rate here in AL)
Posted on 4/17/25 at 10:35 am to Jax-Tiger
quote:
The math doesn't work on this. Neal Boortz used to push this, but the fact is, we aren't going to get $5T in tax revenue without our loaf of bread increasing in cost. We will eliminate the cost of compliance with the various tax collection methods, but we still have to get the money from somewhere.
Some items may see minimal increases, but some will go up by a lot.
Let's say I sell bread at my local bread shop. As a business, my income taxes would also be less, meaning I can operate my business for less.
So I think large expensive items will increase a lot in price with just sales taxes, but bread wont.
I look at it like this. The uber wealthy don't necessarily have a paycheck every week or every other week that has income taxes taken out.
Same with poor people.
So not everyone has income to be taxed, but everyone buys shite.
quote:
Goals of the FairTax:
Simplicity – no more IRS forms or filing
Transparency – tax is visible at the register
Encouraging saving and investment – since it’s not taxed
Boosting economic growth – proponents say lower compliance costs and no corporate tax would spur business
This post was edited on 4/17/25 at 10:40 am
Posted on 4/17/25 at 10:36 am to Ostrich
quote:
you are wrecking the economy by dramatically reducing demand for products
McDonald’s gross profit increased 35.8% from 12/18 to 12/24
was demand for McDonalds food wrecked by an average 141% increase in prices?
This post was edited on 4/17/25 at 10:38 am
Page 3 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News