> Adam wrote: > What I'd like to see is a complete elimination of all taxes except the Fair > Tax, and just increase the tax percentage on the Fair Tax until it funds the > equivalent of what it did before there was a Fair tax. >
As I understand it, a national sales tax would tax "new goods" bringing up the question of how one defines "new". 12 volumes of tax code could be replaced by 50 volumes of goods definitions. And then the problem with a flat tax is that it disproportionately taxes lower income people and so you need exceptions for this and that and pretty soon you have 12 volumes of tax code again. And if you look at who pays taxes it's mostly rich folk: If you define "middle class" to include the three middle quintiles, from the 20th percentile to the 80th percentile, they would only be paying 31.8 percent of the tax burden despite earning 43.2 percent of the nation's income, according to CBO. E.g., Households making pre-tax $40,000 or less per year paid 5% of all federal income tax in 2005 while filers making $225,000 or more paid 70%! Put another way, those making $40,000/yr pay 10% in federal taxes and those making $250,000/yr pay 25% While I hate taxes, I haven't heard of a more workable solution than the one we have - but I sure do LOVE the flat tax. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;160198600;22374440;w Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:252021 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
