Multiply that answer by a thousand-fold, and you may have it. Look at all the lawyers, accountants, etc. that tie up productivity because of a whacked-out tax system. Some seriously reasoned THOUGHT needs to go to developing a system that will allow people to pay a fair share, with few loop holes, and let them keep most of their money. With all the inefficiencies in the tax-reporting codes, and all the hours spent ( wasted? ), it would free up our economy even more. Other than unemploying a vast amount of accountants ( including my Income-tax return filing wife ), I think it would be marvelous. Now, if we could find a way to unemploy a lot of LAWYERS.,...
2007-08-06 16:35:54
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answer #1
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answered by Anonymous
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If we pass the "Fair" Tax, we will save all of the money spent on preparing tax returns. However, contrary to the fantasies of one of the Republican candidates, we won't shut down the underground economy (which refers to one people purchase from businesses that don't pay taxes), but would increase it. Besides that, anybody who lived near the Canadian or Mexican border would have to be crazy not to cross it and purchase products there and pay less in taxes (the "Fair" Tax is a sales tax of 23%, but Canada only has 7% sales tax and there would be no other taxes under the "Fair" Tax).
The Flat Tax would also save the money wasted on accounting, as people would pay a specific percentage of their income to the government, which would be the same percentage no matter what they made.
Both the "Fair" Tax and the Flat Tax are revenue-neutral, meaning that the government gets the same amount of money. If your goal is to maximize revenue for the government, you should choose the Flat Tax, however the "Fair" Tax is more politically convienient (it is more like those anti-wealthy "Progressive" taxes that leftists love).
However, I would go with neither of them, as my goal isn't to maximize revenue for the government. I would prefer to minimize revenue for the government. We should go back to the tax system we had prior to the Civil War during the Jeffersonian Era (1800-1860). The federal government had no "Internal Revenue" at the time, meaning that the people payed no taxes. Instead, the only taxes collected were by tariffs on imports. That is why the government came far closer to obeying the Constitution during that point in time than they have since. The Constitutional level of government can be paid for without any taxes on Americans. The government only needs an Income Tax, "Fair" Tax, or Flat Tax if it isn't going to follow the Constitution.
2007-08-06 16:49:22
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answer #2
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answered by Anonymous
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Because of the complexities of our present tax code, virtually every, tiny, little Mom & Pop business in the country has to spend several hundred dollars, or more, per year just to have their taxes prepared. That alone would account for billion$. Add the cost to larger corporations and to individuals, and then we're talking about some REAL money.
However, I'd be amazed if the IRS' budget were much affected at all. Beauracracies just don't work that way.
2007-08-06 16:49:41
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answer #3
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answered by Tom K 7
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It's not about saving money by eliminating the IRS. The purpose is to reform our socialist, highly-progressive tax system we have now with a system that will take the power out of the hands of the politicians, and give it back to the people of this country where it belongs.
Most people I read on here are ignorant...saying the rich don't pay their fair share....totally bogus http://www.treasury.gov/press/releases/js1287.htm
I also bet that nobody on here has read the FairTax book or even learned how it works. They just run their mouth like they know something about it.
http://www.fairtax.org/site/PageServer
2007-08-06 17:08:31
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answer #4
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answered by AmericanPatriot 3
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If you get rid of the federal reserve banks and illegal institutions like the IRS we could print American money By americans (not private bankers) and pay taxes based how much a person can afford and what they invest to keep pur ecnomy going... The only reason its so hard is because of these red tape institutions inflating and over rating and threatening We the People!
Oh and maybe cut back on speacial intrests like foriegn wars and flights to mars? Then everybody can afford a break.
2007-08-06 16:55:27
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answer #5
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answered by Anonymous
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I don't know, but I just think that everyone should pay their fair share of income taxes. Why should those that make more money get to pay less % of income taxes than the poor? I think that if they expect the middle class to shell out 30 %, then Bill Gates should be right there with 30% of his annual income as well.
How much of the deficit do you think would be paid if this were the case????
2007-08-06 17:08:23
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answer #6
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answered by volleyballchick (cowards block) 7
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of course it extremely is not honest...it extremely is rather obtrusive that many human beings don't have a rudimentary draw close on our tax scheme or uncomplicated economics... And definite.. a flat tax could be honest...all of us pays the comparable proportion ..the wealthy pay 10% as does all of us else...(for persons that don't understand.. the wealthy guy that could supply you a job...could nonetheless pay greater desirable than you)... i assume a number of our fellow posters don't understand the punitive nature of TAX BRACKETING.....
2016-10-14 06:10:35
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answer #7
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answered by ? 4
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A flat tax system would general almost as much revenue as is generated now if done right, and it would eliminate a huge amount in administrative costs netting alot more money than is generated now.
2007-08-06 16:40:38
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answer #8
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answered by sociald 7
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None, this is just another political scam to steal more tax dollars and force all the drug dealers, pimps, undetected contractors to pay there share. I support taxes but I do not support your income being taxed from labor. Flat tax would kill the poor and destroy the middle class and make the rich, richer.
2007-08-06 16:40:08
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answer #9
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answered by markalus 2
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don't care, I don't support either a "fair" tax (in name only) or a flat tax.
A progressive income tax is the only fair and acceptable system to me.
The only thing that need to be done is to simplify and eliminate loopholes in existing tax law.
2007-08-06 16:48:45
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answer #10
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answered by Nick F 6
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