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    Re: Fair tax rebuttal to WSJ article

    I'm going to read that.




    Sometime after the football game...



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    Re: Fair tax rebuttal to WSJ article

    Ok... I read it early. The only point they really address is the accusation that it was the brainchild of Scientology. Nothing about the fact that they tax government purchases (which is pointless), the increased cost to the states, the increased spending due to the prebate, or the effects on the new housing market. I would love to see a point by point rebuttal.



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    Re: Fair tax rebuttal to WSJ article

    Quote Originally Posted by Kyle View Post
    Ok... I read it early. The only point they really address is the accusation that it was the brainchild of Scientology. Nothing about the fact that they tax government purchases (which is pointless), the increased cost to the states, the increased spending due to the prebate, or the effects on the new housing market. I would love to see a point by point rebuttal.

    Wow, you already saw the game. I can't believe I missed it. ;)

    Pointing out that he was wrong about the Scientology part does not make his other opionions inaccurate. A point by point rebuttal would be nice.



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    Re: Fair tax rebuttal to WSJ article

    Quote Originally Posted by Kyle View Post
    Ok... I read it early. The only point they really address is the accusation that it was the brainchild of Scientology. Nothing about the fact that they tax government purchases (which is pointless), the increased cost to the states, the increased spending due to the prebate, or the effects on the new housing market. I would love to see a point by point rebuttal.
    Precluding federal and state governments from paying taxes on purchases would be pretty simple, but might require a page or so in the bill. A little easier than the Bible sized tax code we have now. And I am all jacked up about tonight too.....just wanted to throw this in as a follow up to the previous thread.



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    Re: Fair tax rebuttal to WSJ article

    I love the idea of a fair tax. I do wonder if it could work. I have a hard time believing that it would be that much simpler overall.

    For example, education expenditures would be exempt, thus making education cheaper for people according to fairtax.org. What about a school buying things. Lets say my tuition is tax free. What about Iowa State university paying for new equipment, new buildings, etc, etc? Do they have to pay taxes? Just take an example of a new building. Whoever bids on that building will have to take into account the taxes they will have to pay on the materials. That will increase the price at which Iowa State can get the building built. Thus, they have to increase tuition because of it.

    Or a simple case like a haircut. Lets say I'm paying $10 right no. If a fair tax is 20%, then I'd' be paying $12. Great, no problem there, I have more money to spend. But wait, the Barber is also paying 20% sales tax on his supplies. Lets say of that $10, $5 is his expenses and $5 is profit. If he pays the 20% in sales tax on his supplies, now a haircut will cost him $6 and he'll have to raise his price to $11 to keep the same profit margin. Now after taxes, I'm paying $13.20, so in reality, a 20% fair tax is a 32% increase in my price of a haircut.

    I'd like to see it happen though.



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    Re: Fair tax rebuttal to WSJ article

    Quote Originally Posted by Kyle View Post
    Ok... I read it early. The only point they really address is the accusation that it was the brainchild of Scientology. Nothing about the fact that they tax government purchases (which is pointless), the increased cost to the states, the increased spending due to the prebate, or the effects on the new housing market. I would love to see a point by point rebuttal.
    No different than a good part of the other stuff on fairtax.org. Read their FAQ. They repeatedly use "blow off" answers like (my paraphrase) "70% of Americans don't itemize, so it really doesn't matter". Well, I do itemize, and it matters to me, so answer the stinkin' question instead of blowing smoke!

    As far as I'm concerned, there's too much smoke-and-mirrors going on with fairtax.org for me to trust what they have to say...


    Last edited by jbhtexas; 08-30-2007 at 02:58 PM.
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    Re: Fair tax rebuttal to WSJ article

    It seems like all prices would go up, even before the sales tax is applied.

    Take food.

    I buy a gallon of milk at the grocery store. With the fair tax, the grocery store is going to have higher expenses. When they need new equipment, they will have to pay the extra tax for it. In order to pay for it, they will need to raise their prices.

    Whoever manufactures the milk has to buy materials for the packaging, buy equipment to package the milk. They would have to pay the fair tax on those items, would they not? Would they not have to raise the price that they charge the grocery store?

    Wouldn't the end consumer be feeling not just the brunt of the sales tax on their end, but also the increased costs all along the road.



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    Re: Fair tax rebuttal to WSJ article

    Quote Originally Posted by clone52 View Post
    It seems like all prices would go up, even before the sales tax is applied.

    Take food.

    I buy a gallon of milk at the grocery store. With the fair tax, the grocery store is going to have higher expenses. When they need new equipment, they will have to pay the extra tax for it. In order to pay for it, they will need to raise their prices.

    Whoever manufactures the milk has to buy materials for the packaging, buy equipment to package the milk. They would have to pay the fair tax on those items, would they not? Would they not have to raise the price that they charge the grocery store?

    Wouldn't the end consumer be feeling not just the brunt of the sales tax on their end, but also the increased costs all along the road.
    From what I understand, the Fair tax would eliminate corporate taxes, which are passed onto the consumer anyway, and wholesale purchases would be untaxed, much like sales tax is now.



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    Re: Fair tax rebuttal to WSJ article

    Quote Originally Posted by clone52 View Post
    It seems like all prices would go up, even before the sales tax is applied.

    Take food.

    I buy a gallon of milk at the grocery store. With the fair tax, the grocery store is going to have higher expenses. When they need new equipment, they will have to pay the extra tax for it. In order to pay for it, they will need to raise their prices.

    Whoever manufactures the milk has to buy materials for the packaging, buy equipment to package the milk. They would have to pay the fair tax on those items, would they not? Would they not have to raise the price that they charge the grocery store?

    Wouldn't the end consumer be feeling not just the brunt of the sales tax on their end, but also the increased costs all along the road.
    The rebuttal is that businesses would no longer be paying income taxes. This savings could be passed on to the consumer so that it would offset the higher purchase prices you are referencing. However, that wouldn't be the case for nonprofits.



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    Re: Fair tax rebuttal to WSJ article

    Hey guys... it's gameday. I'm all for less and fairer taxes, but can this wait until Monday?


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    Re: Fair tax rebuttal to WSJ article

    Quote Originally Posted by jdoggivjc View Post
    Hey guys... it's gameday. I'm all for less and fairer taxes, but can this wait until Monday?
    Just trying to keep my mind occupied til gametime. A watched pot never boils.



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    Re: Fair tax rebuttal to WSJ article

    Quote Originally Posted by jdoggivjc View Post
    Hey guys... it's gameday. I'm all for less and fairer taxes, but can this wait until Monday?
    Monday will be occupied by discussion of the crushing Cyclone victory that we are about to witness this evening...


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    Re: Fair tax rebuttal to WSJ article

    My view on the current tax system, the Fair-Tax, the flat tax, and other proposed tax systems is that they all have glitches and problems. So just because there are problems with the Fair-Tax doesn't necesarily indicate that it should be written-off.

    I would support whatever tax system is best for the economy over the long term. However, because of the complexity of this issue it is not clear to me which system I should be supporting.



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