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Thread: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by EarlzP View Post
    I don't think a flat tax would work, I I like the fair tax concept but would have to see what items would be considered essential.
    Guns should be tax free.
    Last edited by apdst; 12-04-11 at 07:40 PM.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by ecofarm View Post
    And anyone who thinks OBL brought down the USSR is:
    a. Anti-war to the point of certifiable delusion.
    b. Crazy.
    c. Brainwashed.
    d. Muslim and c.
    e. d. and b.
    Same could be said for anyone who thinks Reagan brought down the USSR.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by apdst View Post
    Guns should be tax free.
    The patch you are displaying is called a combat infantrymen's badge, the weapon is a rifle a rifle used in combat is not a gun it is a weapon, the purpose of a weapon is to kill an enemy. A gun should be licensed and taxed just my opinion

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by ecofarm View Post
    Essential items are the things purchased for the first 12k one spends (the poverty line) on retail items. Each person can decide that for themselves; each person gets a rebate for the retail sales tax on that amount, even if they buy nothing retail or do not even spend that amount total for the year. There is no tax on used items.

    So, when we speak of essential items in the fair tax, we speak of the first 12k spent on retail goods... not exactly essentials, as there is no property tax.



    ps. Never heard of the 1st Amendment;tl;dr

    And anyone who thinks OBL brought down the USSR is:
    a. Anti-war to the point of certifiable delusion.
    b. Crazy.
    c. Brainwashed.
    d. Muslim and c.
    e. d. and b.
    I don't like the fair tax one reason would be that it can be adjusted annually, I would need to see a list of what exactly essential is, for instance is a 5 bedroom 6 bath home essential for a family of 3, is a 50 thousand dollar new auto essential?

    The FairTax is a tax reform proposal for the federal government of the United States that would replace all federal taxes on personal and corporate income[1] with a single broad national consumption tax on retail sales. The Fair Tax Act (H.R. 25/S. 13) would apply a tax once at the point of purchase on all new goods and services for personal consumption. The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or "prebate", of tax on purchases up to the poverty level.[2][3] First introduced into the United States Congress in 1999, a number of congressional committees have heard testimony on the bill; however, it has not moved from committee and has yet to have any effect on the tax system. In recent years, a tax reform movement has formed behind the FairTax proposal.[4] Increased support was created after talk radio personality Neal Boortz and Georgia Congressman John Linder published The FairTax Book in 2005 and additional visibility was gained in the 2008 presidential campaign.

    The sales tax rate, as defined in the legislation for the first year, is 23% of the total payment including the tax ($23 of every $100 spent in total—calculated similar to income taxes). This would be equivalent to a 30% traditional U.S. sales tax ($23 on top of every $77 spent—$100 total).[5] The rate would then be automatically adjusted annually based on federal receipts in the previous fiscal year.[6] With the rebate taken into consideration, the FairTax would be progressive on consumption,[3] but would also be regressive on income at higher income levels (as consumption falls as a percentage of income).[7][8] Opponents argue this would accordingly decrease the tax burden on high income earners and increase it on the middle class.[5][9] Supporters contend that the plan would decrease tax burdens by broadening the tax base, effectively taxing wealth, and increasing purchasing power.[10][11]

    The plan's supporters believe that a consumption tax would have a positive effect on savings and investment, that it would ease tax compliance, and that the tax would result in increased economic growth, incentives for international business to locate in the U.S., and increased U.S. competitiveness in international trade.[12][13][14] Opponents contend that a consumption tax of this size would be extremely difficult to collect, and would lead to pervasive tax evasion.[5][7] They also argue that the proposed sales tax rate would raise less revenue than the current tax system, leading to an increased budget deficit.[5][15] The plan is expected to increase cost transparency for funding the federal government, and supporters believe it would have positive effects on civil liberties, the environment, and advantages with taxing illegal activity and illegal immigrants.[12][16] There are concerns regarding the proposed repeal of the Sixteenth Amendment, removal of tax deduction incentives, transition effects on after-tax savings, incentives on credit use, and the loss of tax advantages to state and local bonds.
    Under the first amendment you are entitled to your opinion of me and truthfully in this format it has little to no effect on me, to me you are just a name calling no body

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by EarlzP View Post
    I don't like the fair tax one reason would be that it can be adjusted annually, I would need to see a list of what exactly essential is, for instance is a 5 bedroom 6 bath home essential for a family of 3, is a 50 thousand dollar new auto essential?
    I don't think you understand the fair tax or the prebate. The prebate, which provides for "essential items" is based on the poverty line and provides a rebate (at the beginning of the year, thus prebate) for taxes up to that level of expenditure (presuming that expenditure to be in the retail market). Thus, everyone gets a prebate for ~$4000, the taxes (again, assuming retail) up to the poverty line (~12k).


    Under the first amendment you are entitled to your opinion of me and truthfully in this format it has little to no effect on me, to me you are just a name calling no body
    Figuring that someone is a Muslim is name calling? Why do you hate Muslims. Ok, maybe you're not Muslim. Perhaps you idolize and glorify OBL for some other reason.


    Quote Originally Posted by AdamT View Post
    Same could be said for anyone who thinks Reagan brought down the USSR.
    Personally, I think the biggest factor was mismanagement by the centralized government (the largest mistake being a failure to de-centralize agriculture as China and Cuba did to save themselves). Nonetheless, any sane and educated person would give Reagan more credit than OBL.
    Last edited by ecofarm; 12-05-11 at 02:52 AM.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by ecofarm View Post
    I don't think you understand the fair tax or the prebate. The prebate, which provides for "essential items" is based on the poverty line and provides a rebate (at the beginning of the year, thus prebate) for taxes up to that level of expenditure (presuming that expenditure to be in the retail market). Thus, everyone gets a prebate for ~$4000, the taxes (again, assuming retail) up to the poverty line (~12k).
    I think you may have reading comprehension problems or maybe selective reading problems I said and I quote

    I don't like the fair tax one reason would be that it can be adjusted annually, I would need to see a list of what exactly essential is, for instance is a 5 bedroom 6 bath home essential for a family of 3, is a 50 thousand dollar new auto essential?
    Do you see any thing in my qoute that talks about the prebate? If a person buys a used home for 1 million dollars will he/she have to pay the sales tax, if they buy a used mersades for 75 thousand will they pay tax on it? Until I know more about the fair tax I said and I quote
    I don't like the fair tax one reason would be that it can be adjusted annually
    Figuring that someone is a Muslim is name calling? Why do you hate Muslims. Ok, maybe you're not Muslim. Perhaps you idolize and glorify OBL for some other reason.
    Maybe I am a muslim the fact is it's none of YFB, As far as OBL he was the man behind the attack on the twin towers if you want to believe that his primary goal was just to take down the towers and kill all of those innocent people then you have little to no knowledge of gurella warfare. Whether he had in his mind that what he did was right or not he should have ended up as he did a lot sooner then he did. My guess is that he wanted the US to respond exactly like we did because he saw an opportunity to wage an economic war and cause us to come to same end that the Russians did, as I stated OBL must have been ROFL when President Bush decided to invade IRAQ, it must have been like a bonus for him. Imagine the USA taking out OBL'S enemy Sadam and opening up another war front.

    Try to be a little more realistic and a little more honest do you really think we had to invade Afghanistan to capture or kill Bin Laden or Iraq to capture or kill Sadam?


    Personally, I think the biggest factor was mismanagement by the centralized government (the largest mistake being a failure to de-centralize agriculture as China and Cuba did to save themselves). Nonetheless, any sane and educated person would give Reagan more credit than OBL.[/QUOTE]

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Blue_State View Post
    Why can't they just be people who live in a trailer park that don't want to live on government hand outs?
    What government handouts? And why would they be happy paying a higher tax rate than those who's income is primarily from investments?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Earl loves OBL.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by ecofarm View Post
    Personally, I think the biggest factor was mismanagement by the centralized government (the largest mistake being a failure to de-centralize agriculture as China and Cuba did to save themselves). Nonetheless, any sane and educated person would give Reagan more credit than OBL.
    Clearly the biggest factor was their unsustainable political/economic system and Gorbachev's unwillingness to use force to shut down dissent. IMO, the most significant external trigger precipitating the fall was the collapse of oil prices that drastically reduced their access to foreign currency.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by AdamT View Post
    Same could be said for anyone who thinks Reagan brought down the USSR.
    Yes, he also had help from Margaret Thatcher and Pope John Paul II.

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