Poll: Solving The Debt Issue:

[Serapis]

Also, the assumption that retail prices will drop is false... that has been debunked and even Neil Boortz issued a correction on that assertions in the second printing of his book...

http://www.factcheck.org/taxes/unspinning_the_fairtax.html

 

[BudMcLovin]

IBernie Madoff ran a successful ponzi scheme and essentially it was the same as Fractional Reserve except the Federal Government didn't bail him out.

He’s scam is more like Social Security. He used money from one investor to pay another.

 

[Mr Neutron]

It's odd that we think lower classes have to go without to solve things and then we say they have to accept lower pay, not union rights, no rights to health care no rights to housing , no rights to social security but Vote republican in 2012.

Seems to me it will be a Democrat victory in 2012.. Maybe for many decades to come.

Who said anything about the "lower class" (is THAT condescending or what?) going without? If you're talking about the large number of people that actually get back more than they pay in, well yes, I guess the free ride would be over.
Were does it say that we have rights to unions, health care, housing and SS?

 

[Serapis]

Go have a read... I've read the book, I've done my research. You are using tired and dated talking points that even Neil Boortz has discarded...

http://www.factcheck.org/taxes/unspinning_the_fairtax.html

Who said anything about the "lower class" (is THAT condescending or what?) going without? If you're talking about the large number of people that actually get back more than they pay in, well yes, I guess the free ride would be over.
Were does it say that we have rights to unions, health care, housing and SS?

 

[Ernst]

He’s scam is more like Social Security. He used money from one investor to pay another.

Social Security.. From what I can tell social Security is solvent.
The only stress on Social Security is that we buy American Debt and we are failing to adjust the cut off of top taxable income from $120,000 to $180,000
If Social security got a flat tax from all it would be able to triple what it pays out.

So I still think Fractional Banking is a legal Ponzi scheme.. Especially the over draft fees.

 

[Ernst]

No one voting for God and War..

My don't they feel lonely.

 

[BudMcLovin]

Also, the assumption that retail prices will drop is false... that has been debunked and even Neil Boortz issued a correction on that assertions in the second printing of his book...

http://www.factcheck.org/taxes/unspinning_the_fairtax.html

Funny I read it differently than you did. Boortz had it wrong on how the tax was figured it’s 23% of the overall price but about 30% of the pretax price. But it was designed to replace the current tax system at the current rates. And if you’ll read my previous post I said prices will stay relatively the same or get a little cheaper.

 

[Serapis]

Boortz never took into account state taxes and several other items.. with today's economy, the figure is a 34% sales tax. that is to make sure that for every dollar the US govt currently collects, it will get one under the new system.... And we read every day about billions that go uncollected....

Like I said, I read the book, I want teh IRS gone, but you guys are using old arguments that have been discredited.... go to fact check dot org and see for yourself.

 

[PeachOibleBoiblePeach#1]

Funny I read it differently than you did. Boortz had it wrong on how the tax was figured it’s 23% of the overall price but about 30% of the pretax price. But it was designed to replace the current tax system at the current rates. And if you’ll read my previous post I said prices will stay relatively the same or get a little cheaper.

Young ,,,Stupid,,,,arogant,,,Kid,,,Fool,,,,Where you Livin'? La La Land...J/K

 

[BudMcLovin]

I understand your points, I really do... but economics is a real hobby of mine and I don't see the events laid out so nice and smooth as you do. You didn't address the fact that 100% of lower class incomes will be taxed while that won't be the case with the rich. You also have not addressed the fact that some very wealthy people are behind this push for "fair" taxation?

And 28% is not set in stone, there are figures as high as 34% with the current economy...

You can play the class warfare game all you want man but I don’t see the world that way. You might hate wealth people but I don’t. Hell I’d listen to a wealthy person’s thoughts on the economy, wealth and taxes way before I listen to a poor person.

If people want more disposable income they should make themselves more valuable to the market place not expect the government to do it for them. I walked away from 50k a year to make myself more valuable to the market place.

Right know 100% of income is taxed so what’s the difference but you’re not complaining about that. Oh yea 40% of Americans don’t even pay taxes any more, talk about unfair. Fuck the rich, fuck the poor, and fuck the middle it’s about personal and economic freedom. How free are we when the government wants to know about every dollar you own.

 

[BudMcLovin]

Young ,,,Stupid,,,,arogant,,,Kid,,,Fool,,,,Where you Livin'? La La Land...J/K

Ask your mother she knows. not joking

 

[BudMcLovin]

Boortz never took into account state taxes and several other items.. with today's economy, the figure is a 34% sales tax. that is to make sure that for every dollar the US govt currently collects, it will get one under the new system.... And we read every day about billions that go uncollected....

Like I said, I read the book, I want teh IRS gone, but you guys are using old arguments that have been discredited.... go to fact check dot org and see for yourself.

Do you mean before Obama started spending like a drunk monkey? Here’s an idea cut spending.

Dude the Fair Tax hasn’t been discredited it’s just easy to demonize and most people that support it don’t know enough about it to answer questions about it. Boortz didn’t come up with the fair tax he just wrote a couple of books about it. Why would the federal tax system take into account state tax systems?

Is fact check.org the end all be all on tax matters? How many economist did they have study the fair tax? The article was written by Joe Miller. Who’s he? If it’s the one I know he drinks to much miller to worry about writing an article on taxes.

 

[Ernst]

Do you mean before Obama started spending like a drunk monkey? Here’s an idea cut spending.

Dude the Fair Tax hasn’t been discredited it’s just easy to demonize and most people that support it don’t know enough about it to answer questions about it. Boortz didn’t come up with the fair tax he just wrote a couple of books about it. Why would the federal tax system take into account state tax systems?

Is fact check.org the end all be all on tax matters? How many economist did they have study the fair tax? The article was written by Joe Miller. Who’s he? If it’s the one I know he drinks to much miller to worry about writing an article on taxes.

Only Congress can spend. Presidents can be given a "checking account" but that money comes for Congress.

 

[BudMcLovin]

don’t act like Obama wasn’t pushing for large increases in spending.

 

[Serapis]

You best step back and take a look at Bush spending..... he outspent EVERY SINGLE president before him, COMBINED, including Reagan!!! Reagan and Bush are responsible for nearly 85% of deficit spending... lol

You can paint Obama any which way you like, that doesn't absolve history of facts. The Fair Tax plan has promise, however it has flaws as well. And no, I don;t hate the rich, i'm simply asking why a lot of them are behind the plan.... George Sarros included...

You see, rich people know how to make money, it's how they got rich, most of them. the fact that a large portion of them wholeheartedly endorse this plan tells me there is flaws with it.... they expect to save money because of it. that saved money can only come from one place.... those with less savings, the ones that live check to check. 100% of their income will be taxed (this is NOT a hard concept to understand). The fact that I listen when money talks, tells me that there are problems with the plan as it is written.... You can do the research yourself at fact check, or ask an accountant to explain it to you. Either way, it has issues and is not a fair tax system.

don’t act like Obama wasn’t pushing for large increases in spending.

 

[Ernst]

don’t act like Obama wasn’t pushing for large increases in spending.

If I understand things right the current debate is what they can cut before they raise the borrowing limit. Raising the borrowing limit is assumed and Republicans are in support of borrowing more.
If I understand it right the Fractional Reserve system drives us to debt and there is no choice in borrowing more and more.

 

[BudMcLovin]

You best step back and take a look at Bush spending..... he outspent EVERY SINGLE president before him, COMBINED, including Reagan!!! Reagan and Bush are responsible for nearly 85% of deficit spending... lol

You can paint Obama any which way you like, that doesn't absolve history of facts. The Fair Tax plan has promise, however it has flaws as well. And no, I don;t hate the rich, i'm simply asking why a lot of them are behind the plan.... George Sarros included...

You see, rich people know how to make money, it's how they got rich, most of them. the fact that a large portion of them wholeheartedly endorse this plan tells me there is flaws with it.... they expect to save money because of it. that saved money can only come from one place.... those with less savings, the ones that live check to check. 100% of their income will be taxed (this is NOT a hard concept to understand). The fact that I listen when money talks, tells me that there are problems with the plan as it is written.... You can do the research yourself at fact check, or ask an accountant to explain it to you. Either way, it has issues and is not a fair tax system.

Obama makes Reagan and Bush look like Mickey Mouse when it comes to spending. I agree 100% Bush doubled the size of government and for everything Reagan did right he didn’t cut spending. The thing is they are no longer President but Obama is. The debt is pretty much as large as our GDP. It’s time to slow down and reevaluate.

The pre bate check people receive covers the tax on essentials (groceries) to the poverty level. Plus the poor are already helping pay those taxes. Every time an item is purchased they pay a portion of the taxes for the company because the cost is passed to the customer. Plus 100% of their income is already taxed. Nope wait I keep forgetting the poor get a free ride when it comes to federal taxes, well besides the embedded taxes in the price of products and services.

Sure it has issues but the current tax code consists of 60,000 plus pages. Politicians don’t want it changed because they would no longer have the power to dish out tax favors for their buddies who in turn donate to their campaigns.

 

[BudMcLovin]

If I understand things right the current debate is what they can cut before they raise the borrowing limit. Raising the borrowing limit is assumed and Republicans are in support of borrowing more.
If I understand it right the Fractional Reserve system drives us to debt and there is no choice in borrowing more and more.

There is always a choice.

 

[MrDank007]

Social Security.. From what I can tell social Security is solvent.
The only stress on Social Security is that we buy American Debt and we are failing to adjust the cut off of top taxable income from $120,000 to $180,000
If Social security got a flat tax from all it would be able to triple what it pays out.

So I still think Fractional Banking is a legal Ponzi scheme.. Especially the over draft fees.

Dude, you drive me nuts. Social security is tits up and not a "locked" trust. It will never be "solvent".

 

[Ernst]

Dude, you drive me nuts. Social security is tits up and not a "locked" trust. It will never be "solvent".

Can you show me some material for that? I am going by things like Nightly Business Report, Frontline, Face the Nation etc. I could be wrong.

Thanks