Linder's foe calls 'FairTax' unfair
Tax reform is U.S. Rep. John Linder's bread-and-butter issue. Doug Heckman, Linder's Democratic opponent, says the long-serving Republican congressman from Duluth has been feeding the country nothing but ...
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#1 Oct 27, 2008
I really like the fairtax. Everyone pays the same percentage in tax on what they CHOOSE to buy. Everyone receives the same prebate amount up to the poverty level. Call it a consumption luxary tax. The rich do spend more than the poor. The more you spend the more you are taxed. It's that simple. That is the penalty for the life of luxary. What seems to disturb the have-nots is that the Rich save more, well they do because they make more, they do because they CHOOSE to work somewhere that pays them more. They do because they CHOOSE to make a business that most likely you applied for at one time in your life. Ive done the math and I will be saving more under the fairtax plan. And never again do I have to file a tax return to get some of my money back. I am in the middle class and I am excited about this plan. I am not about to act like a have-not just because the Rich has more money to spend. Take a look at the Mansions, the cars, the food, the developements, the LUXARY. I want that too but I have to make more money to do so. This plan untaxes the poor. I recommend that (after) reading all about the fairtax, Calculate your own scenario as far as your total income tax vs. fairtax and see how much you save or not.
#2 Oct 30, 2008
Learn how to spell luxury.
#3 Mar 2, 2010
I still got the point across.
Luxury. Better? Thanks for the lesson azzwhole.
#4 Dec 6, 2012
The FairTax redistributes hundreds of billions of dollars upward annually from renters to homeowners, because renters pay FairTax on every dollar of rent (including the property taxes embedded in rent), while homeowners enjoy over one trillion dollars of untaxed housing consumption annually.
Under the FairTax, a homeowner can spend more - and consume more - than a renter, while paying less tax than the renter.
Whenever a homeowner and a renter have equal spending, the homeowner will enjoy greater consumption while paying less tax than the renter.
Property taxes are higher on rental property than on owner-occupied homes in many states, including Georgia. For renters, the FairTax is a tax on top of a tax (the extra tax onn rental property) on top of a tax (the base property tax rate on all property). Since property taxes are embedded in rent, the renter pays FairTax on top of these property taxes while the homeowner does not pay FairTax on top of his property tax.
Because rental property is treated favorably under the federal income tax, there is very little federal income tax embedded in rent. This means that there is very little room for rents to fall when the income tax is replaced with the FairTax. This means that the FairTax will drive up rents substantially.
Because the poor spend a huge proportion of their income on rent - according to Mortgage News Daily, half of all low-income renters spend at least half their income on shelter - the prebate will not fully compensate the poor for the higher taxes they will face.
This means that the poor will lose purchasing power under the FairTax, and their consumption must fall.
The FairTax is fair to those who CHOOSE to rent rather than to own, and is egregiously unfair to those who rent involuntarily.
#5 Dec 6, 2012
It would seem that the only fair tax is one that someone else has to pay.......
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