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Anonymous
Anonymous asked in Politics & GovernmentElections · 1 decade ago

Why doesn't the fair tax initatives get more press?

CNN had to send a "reporter" out to research what fair tax is, which is pathetic! If the American people knew they could actually choose how much tax they have to pay, they would burn the IRS building down.

Update:

Rick, while I agree with you that salaries are outrageously high, I still disagree with any type of "progressive" tax. The fair tax, as in national sales tax, simply means if you spend money, you pay your taxes.

Update 2:

Well Eric, it looks like Huck let the cat out of the bag last night... because now they are forced to talk about it.

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  • 1 decade ago
    Favorite Answer

    The influential (read: the politicians and the very rich) do not want the fair tax idea to get out because they all have a vested interest in keeping it from happening. Under the current system, politicians get tax breaks passed for their special interest groups, who in turn contribute megabucks to the politician's campaign fund. So the politicians don't want anyone hearing about this fair tax idea.

    Rich folks don't want anyone to know about it either. They are the ones who can afford to hire tax advisors and financial planners, and who can park their money overseas where it is taxed at a much lower rate until they decide to bring it back here and spend it. They are the ones who do not pay the regressive 7.65% FICA tax, which is eliminated under the fair tax, on every dollar they make. And rich people own all the media companies, so you can bet they won't be urging their people to report on the fair tax.

  • G-gal
    Lv 6
    1 decade ago

    I have heard that one concern about the fair tax is that the idea is wonderful but that most likely once congress got a hold of it they would start complicating the tax code even under that structure and before long it would end up looking very similar to our current program. Each congressman or woman would want to give a break for this item, or that group of people and before you know it, we're in the same boat.

    Still I like the idea on taxing what I spend instead of what I earn.

  • Rick K
    Lv 6
    1 decade ago

    Because the "fair tax" is flawed.

    The idea is good, but it still needs to be incremented. Not at $28,000, or $42,000, but at million dollar increments.

    Here's my example. Every taxpayer gets a $25,000 deduction. Then, for up to the first million dollars earned, you pay 10%. For the second million, you pay 12%. The third million, 14%.

    By the time you've earned 100 million dollars, you're paying 99% of the last million in taxes.

    And no other deductions!

    No human being on earth is worth what some ballplayers, entertainers, and CEOs are earning. They should be paying most of it in taxes.

  • 1 decade ago

    How does:

    ...choosing what to spend under a Fair Tax equal choosing how much you want to pay in taxes...

    yet

    ...choosing how much you work under an income tax not equal choosing how much you want to pay in taxes.

    Its a choice either way. I am not trying to bash the Fair Tax as it has a lot of benefits but this faulty comparison always kills me as it just seems like propaganda to convince those unwilling to give much thought to a topic.

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  • SDD
    Lv 7
    1 decade ago

    There are 437 elected members of the House of Representatives who have a vested interest in a tax system that allows them to dole out favors to various groups. And you think the Fair Tax deserves much consideration?

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