Tax payment

So you believe in taxing the wealth. Do you also believe that we should dole out food based on a person’s size?

People in a free society should be free to give away what they earn, use it as they please, or hoard it. As horrible as that may sound to some. That is what living in a capitalist society is all about. Read the biography of R.G. LeTourneau. He went bust several times. In the end, he made millions and gave 90% away of his own choosing.

If society does not allow this, then it takes away the incentives to take risks. As evil as many people call the oil companies, ask your familiy members if they happen to own any stock or mutual funds which are invested in these companies? If they do, then I guarantee that they are looking for a substantial return on their investment.

It is not all roses though. An economist I know who works for the Federal Reserve has said many times, that what is good for society is not always good for the investors. His 2 favorite examples are the Railrods in the mid-1800s and the fiber-optics in the 1990’s. Both of these laid foundations for generations to come, but those heavily invested, lost their shirts.

I do believe that if someone is willing to take the big risk, then they are entitled to decide how to spend their gains (if they get any). If I have any money left when I die, I should have the right to leave it to my kids, my grandkids, give it away, whatever I decide.

I realize that. I’m just saying that these taxes are based such that the more spent, the more taxed. So it seems the “rich” are carrying the largest burden in contributing the the state and local tax. One thought, though – when you read stories about true millionaires, who really do have money, you find ironically, they don’t spend very much. A good percentage of them are very frugal.
I wonder if, really, our taxes are being paid in most part by just people who live beyond their means and do max out credit cards, trying to keep up with the Jones’.

One ting, though, that trouble me, was this section from the “Fair Tax” page——->

Is the FairTax fair? Yes, the FairTax is fair, and in fact, much fairer than the income tax. Wealthy people spend more money than other individuals. They buy expensive cars, big houses, and yachts. They buy filet mignon instead of hamburger, fine wine instead of beer, designer dresses, and expensive jewelry. The FairTax taxes them on these purchases. If, however, they use their money to build job-creating factories, finance research and development to create new products, or fund charitable activities (all of which help improve the standard of living of others), then those activities are not taxed.

For some reason, it made me uncomfortable with the categorizing it has made of “rich” people, almost with a bitterness toward them in general. I have no feelings one way or another about the rich, but I still did not like the tone of the statement, almost as if it were, as someone says, a punishment.

Tax payment

I’m confused. I haven’t read the Fair Tax information yet – but, based on only what you’ve mentioned – is that not already the way it is? All taxable sales are based on purchase nothing else. And income tax is based on salary. So, if everybody now who makes purchases pays for tax on what they purchase, whether rich or not, how will a new “fair tax” be different and unfair to the rich? Are they not already paying taxes on taxable items now? And, even now, if what you say is true, are they not already buying more because of more money, therefore more tax? I’m not asking this for argument sake – just sincerely curious.

My ignorance keeps getting exposed! But I have to ask – why would the name Neal Boortz cause dispare? I’m not familiar with him, so I guess I’m off to Google to find out about him. Thanks for the information.

You will find a lot about Neal BOORtz doing a search. Check this site and read the comments! Gotta agree with the writer who says, what would Jesus think!

The sales tax does not go to the Federal Government, it goes to state and local. That explains a lot. This man obviously believes that there’s a direct relationship between one’s worth as a person (his very right to life) and the value of his bank account. Un-effing-believable! Well there’s a tribute to free speech in America, when a Nazi can have his own radio show.

Amazing isn’t it this guy can make big bucks spreading his hate. I love some of the comments on that site.. like save the farmer and possibly get some food and leave the blabbermouth radio host! LOL!

Consider that there’s just been a national disaster. Who would you rather have with you: a migrant worker and mechanic who know how to grow food and keep the tractor running, or Oprah and Rush? Not that those two are examples of this, but many rich people are good examples of people who’ve learned how to take advantage of others and the system, but someone who knows how to make shoes or build a wall has far more value. Besides, most great wealth is inherited, so like Paris Hilton, these people are probably not examples of anything other than just being born right. Why save them?

Tax payment

Well I saw the Fair Tax site and read the FAQ. There’s a lot to like there, but it’s regressive and leaves the biggest loopholes of all in that vast sums of wealth can be earned, accumulated and retained both within corporations and in personal accounts and these monies are never taxed unless the money is actually withdrawn and spent on goods in this country. The middle classes spends nearly all of their income in ways that will be subject to the sales tax, and although the wealthy do spend a lot, they hardly spend it all. That’s why they’re rich!! The money they DON’T spend goes completely untaxed and the same is true of the vast sums that remain in their corporations.

This fortune will compound with interest and furthermore be passed on from one generation to the next without being taxed creating royal bloodlines the likes of which we haven’t seen since Luis IV and the Czars. I’m not so sure this is as “fair” as we’d like. Unless I’m missing something, it looks more like another way to dupe the people into giving the rich another lucky windfall. If they find a way to correct the parts I’ve highlighted, I might be a supporter, but when I see who is behind this, I don’t think it’s possible.

There is also a Fair Tax book that has a lot of good info in it if your interested. It’s called The Fair Tax Book and is written by Congressman John Linder and Neal Boortz. Many will dispare simply because Neal’s name is on the book and that is not a good reason to write it off. It is the brainchild of Congressman John Linder,who, along with his contacts did all of the research. Neal helped put it into book form. It is available at most large book stores, on-line sites, etc.

How would you define fair? What is “Fair” and “guaranteed” as guaranteed 1000 personal loans frow wegot1000? The progressive income tax is socialist at its base. Karl Marx wrote this in 1848.

The Fair Tax is still progressive because there is no tax exempt entities. Every purchase of a new item will be taxed. The wealthier the person, the more new items they purchase. The more they purchase, the more tax they pay. Even the Kennedy’s will begin paying the tax.

I do trust that you are not of the opinion that all rich people should be punished.

I stated once before, those who believe in current progressive income tax should apply the same logic to the next Pizza they order and plan to share. Before anyone gets any pizza, everyone gets weighed. The heaviest person gets the least and the lightest gets the most. It really is the same thing at heart. As long the Dems keep preaching class warfare, then people will not see anything as fair unless the rich pay 99% of their income in taxes.

Taxes are not designed to bring everyone to the same economic level. It is to fund the government (yes, who wastes far too much!).