Im running for president its offical!!

[Turtle]

A consumption tax mainly benefits the wealthy, who can afford to save more of their income.

Not really. Wealthy people buy more, and thus pay more in taxes. Poor people buy less, and thus pay less in taxes.

If it replaces the income tax, a consumption tax takes away the ability of the government to use taxation to set budgets and develop sound economic goals.

Have you told Tennessee that? Because they have no income tax, and they somehow are able to set budgets and develop sound economic goals.

In addition, if there is no income tax, there are no deductions for mortgage interest and charitable contributions.

So? You can always save up and pay cash for a house, earning interest on the savings, and you could give to charity because it's the right thing to do, rather than basing the giving primarily on some kind of financial benefit to the giver.

 

[fortwayne]

Not really. Wealthy people buy more, and thus pay more in taxes. Poor people buy less, and thus pay less in taxes.

Have you told Tennessee that? Because they have no income tax, and they somehow are able to set budgets and develop sound economic goals.

So? You can always save up and pay cash for a house, earning interest on the savings, and you could give to charity because it's the right thing to do, rather than basing the giving primarily on some kind of financial benefit to the giver.

Save up and pay CASH for a house?
You just killed off the home construction industry laying of countless construction workers. In addition to those supplying the industry.
As far as Tennessee goes, sure no state income tax, but budgeting for a state government is just that...state not federal. They don't have social security, veterans benefits, nor military concerns to figure into their budget.
Bottom line, entitlement programs need fixing, Obamacare needs to be nixed, a balanced budget amendment needs passed, and we need businesses to have the capability to expand their business without the governmental restrictions hindering such job creation.

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[OntarioVanMan]

A good carpenter/framer should be on the Greyhound!! Tuscallusa ...Joplin...and the up I29...lots of work...major rebuilding to do...

 

[greg334]

In addition, if there is no income tax, there are no deductions for mortgage interest and charitable contributions.

Well after hearing all that for a number of years, I think that it speaks to the logic of the people brining it up and not trying to offend you FW but when you have no need to deduct anything, there is no reason why you can consider the lack of any deduction in the system - in other words you don't need a deduction because your income is not taxed.

The purpose of the Fairtax as it is created is not to make things complicated but rather save money through simplification. Removing things like deductions from the mix, simplifies everything. Charities may actually see an increase in donations (you do know that many donations are not even tax deductible?).

BUT let me touch on another thing seeing many are on this "get rid of entitlement" thing - you all know that a great majority of people who pay no income tax are not poor but rather middle class and use children and other related expenses as a means to rid themselves the tax burden? This means that they can and often do get money back that they didn't even pay into the system.

 

[fortwayne]

Temp jobs don't solve our problems......even though that would pay really well for awhile.
I want to know whatever happen to all those Obama shovel ready jobs?
Whatever happened to that open government door policy he promised?
Why is it everytime this president wants to shove one of his plans down our throats that door is closed, locked and sealed shut.

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[Turtle]

Save up and pay CASH for a house?
You just killed off the home construction industry laying of countless construction workers. In addition to those supplying the industry.

It's an option that people can use if the horrifying thought of not being able to deduct interest payments scares them so much. Many people have done just that. If the reason for buying a house is to get the mortgage interest deduction, then priorities are off. If someone wants a house, they'll buy it, deduction or not. People buy a lot of things that have interest connected to it that they are not able to deduct.

As far as Tennessee goes, sure no state income tax, but budgeting for a state government is just that...state not federal.

Same thing, different scale.

They don't have social security, veterans benefits, nor military concerns to figure into their budget.

They don't have Social Security, but they do have state-funded welfare benefits, as well as state-funded veterans benefits, as well as state-funded Tennessee National Guard concerns to figure into their budget. Same thing, different scale.

Bottom line, entitlement programs need fixing, Obamacare needs to be nixed, a balanced budget amendment needs passed, and we need businesses to have the capability to expand their business without the governmental restrictions hindering such job creation.

I agree completely.

 

[fortwayne]

It's an option that people can use if the horrifying thought of not being able to deduct interest payments scares them so much. Many people have done just that. If the reason for buying a house is to get the mortgage interest deduction, then priorities are off. If someone wants a house, they'll buy it, deduction or not. People buy a lot of things that have interest connected to it that they are not able to deduct.

Same thing, different scale.

They don't have Social Security, but they do have state-funded welfare benefits, as well as state-funded veterans benefits, as well as state-funded Tennessee National Guard concerns to figure into their budget. Same thing, different scale.

I agree completely.

See we can agree on something's. So what I would do at this point is work together to nix Obamacare, pass a balanced budget amendment, and we can work to find a solution to our tax system as long as it remains fair to businesses to expand their business and grow our tax base. Deal? See a blue collar approach to solving the problems grown increasingly worse by suit and tie bureaucrats.

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[cheri1122]

One of my pet peeves is the 'charitable' deduction: if one gets something in return, [dinner, golf game], it isn't truly a charitable 'gift', and shouldn't qualify. [Much less get their photo in the newspaper for being such a 'good' example to the rest of us lower class folks.]
And one thing I like about Fair Tax: no tax for used items - a good incentive to recycle household items and clothing, and a break for the low income folks who need it.

 

[OntarioVanMan]

One of my pet peeves is the 'charitable' deduction: if one gets something in return, [dinner, golf game], it isn't truly a charitable 'gift', and shouldn't qualify. [Much less get their photo in the newspaper for being such a 'good' example to the rest of us lower class folks.]
And one thing I like about Fair Tax: no tax for used items - a good incentive to recycle household items and clothing, and a break for the low income folks who need it.

Will you guys please get your mitts out of my pockets! Gee whiz...you are cutting all my tax breaks to pieces here...

 

[fortwayne]

One of my pet peeves is the 'charitable' deduction: if one gets something in return, [dinner, golf game], it isn't truly a charitable 'gift', and shouldn't qualify. [Much less get their photo in the newspaper for being such a 'good' example to the rest of us lower class folks.]
And one thing I like about Fair Tax: no tax for used items - a good incentive to recycle household items and clothing, and a break for the low income folks who need it.

Agreed. If you get something in return for your donation it should be taxable.
As far as used items not being taxable I see that as something we can work into our tax structure. We would have to define what would be considered used to avoid loopholes.

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[OntarioVanMan]

Agreed. If you get something in return for your donation it should be taxable.
As far as used items not being taxable I see that as something we can work into our tax structure. We would have to define what would be considered used to avoid loopholes.

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I would think that would be at least tax neutral

 

[layoutshooter]

I would think that would be at least tax neutral

What about those who donate items for charitable functions?

 

[cheri1122]

I would think that would be at least tax neutral

It's just a sneaky 'break' for those who can afford to pay top dollar for a 'charitable event' - if they aren't giving out of the goodness of their heart, it doesn't count. Especially since a great deal of money raised never trickles down to those it's supposed to help - it gets sucked up for 'administrative' expenses.

 

[cheri1122]

What about those who donate items for charitable functions?

If they wouldn't do it without the deduction, it's not much of a gesture. No deductions - just good karma, and a warm glow from doing the right thing.

 

[OntarioVanMan]

What about those who donate items for charitable functions?

as long as both parties don't get the same deduction...

 

[layoutshooter]

I would think that would be at least tax neutral

It's just a sneaky 'break' for those who can afford to pay top dollar for a 'charitable event' - if they aren't giving out of the goodness of their heart, it doesn't count. Especially since a great deal of money raised never trickles down to those it's supposed to help - it gets sucked up for 'administrative' expenses.

I guess it all depends on the charity. Not all are bad. Many do exactly as they say they do. Nothing is stopping any one from participating in charitable events. Not all charities and charitable events are only attended by "rich" people and not only "rich" people made sizable donations. I know many every day people who do that.

 

[xiggi]

"Every american shall recive 2 million dollars in stimulus money"

First off we would have to borrow about almost one million for every two we gave away.

Second you want to tell people how to spend money that belongs to them in the first place.

Third your trying to buy votes with money that belongs to the tax payers to begin with.

No thanks we already have plenty of you in office.,

 

[layoutshooter]

Think our money is worthless now? (it is) Dump that kind of money all at once. Inflation would run wild.

 

[fortwayne]

Stimulus money should never be used by the government to prop up private businesses or corporations....period.
Allow these businesses to support and prosper on their own by less government intervention.
With that in mind these Mexican truck companies that will be allowed to troll our highways must be able to pay for the tracking devices the Obama administration had required them to have on their own dollars not the American taxpayer as the current president has in his guidelines.
American trucking stands on its own and so should our neighbors!

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[xiggi]

American trucking stands on its own and so should our neighbors!

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It does?

Twelve Federal Motor Carrier Safety grants, created by the American Recovery and Reinvestment Act (ARRA) enacted on January 6, 2009, made $1,700,000,000 available for employment related training. The U.S. Department of Transportation Commericial Motor Vehicle (CMV) Operator Training Grant is for schools that train truck drivers. The Motor Carrier Research and Technology Program is for innovative technological solutions to CMV safety and security to eliminate accidents, injuries and fatalities and to communicate with law enforcement.

Read more: Government Grants for Trucking Rates | eHow.com Government Grants for Trucking Rates | eHow.com

Members of the Owner-Operator Independent Drivers Association who reside in specific states may apply for an auxiliary power unit (APU) grant starting Tuesday. The Environmental Protection Agency selected OOIDA to receive a $1 million grant to help install approximately 300 emission-cutting APUs in trucks that operate in EPA Regions 6 and 7.

There is plenty more where these come from.