Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

3 Bumps

Most everyone thinks we need tax reform right?

I'm pretty sure the government would tweak it here and there but not really do much for the people. Right now the only real plan that has been put out there and explained in detail is the fair tax. Do you know what it is?  Read up on it and let us know what you think and why.
Link text

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 4:40 PM on Apr. 26, 2011 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (17)
  • I like it.
    Candi1024

    Answer by Candi1024 at 4:48 PM on Apr. 26, 2011

  • I like the flat tax better
    Carpy

    Answer by Carpy at 4:48 PM on Apr. 26, 2011

  • I like the fact that it has nothing to do with how much money I earn, only how much I spend.
    Am I correct in saying this? Would this replace income tax?
    Candi1024

    Answer by Candi1024 at 4:49 PM on Apr. 26, 2011

  • I don't think I like this either, I will have to read more about it I think.
    amazinggrace83

    Answer by amazinggrace83 at 4:51 PM on Apr. 26, 2011

  • I like the basic idea, but I find many parts of this particular version flawed. Firstly, the montly payment would require too much oversight, and many people are not good with their payments.

    I much prefer a high sales tax. Everything is taxed except groceries, medications and utilities. The comapnies collect the tax, account for it, and send it to the government. No yearly filing for individuals or families . . .only businesses. No yearly tax bill . . .it has aleady been paid.
    ImaginationMama

    Answer by ImaginationMama at 4:59 PM on Apr. 26, 2011

  • I much prefer a high sales tax. Everything is taxed except groceries, medications and utilities

    The way the price of everything is going up already, I don't want high sales tax adding to it.
    DSamuels

    Answer by DSamuels at 5:08 PM on Apr. 26, 2011

  • D- this would do away with income tax. The "effective" difference to you would be insignificant.
    ImaginationMama

    Answer by ImaginationMama at 5:14 PM on Apr. 26, 2011

  • I like the fact that it has nothing to do with how much money I earn, only how much I spend.
    Am I correct in saying this? Would this replace income tax?

    Yes, If you read it it gives you every answer you could ever want to know about it. It takes place of all taxes
    The FairTax is replacement, not reform. It replaces federal income taxes including personal, estate, gift, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes.
    itsmesteph11

    Comment by itsmesteph11 (original poster) at 5:15 PM on Apr. 26, 2011

  • I like the flat tax better

    If you have the information on a flat tax you should post it so people can compare the two.
    itsmesteph11

    Comment by itsmesteph11 (original poster) at 5:16 PM on Apr. 26, 2011

  • The flat tax info is attached to your link. They keep referring to progressive tax rate- does that mean that the rate will be adjusted upward?

    Sisteract

    Answer by Sisteract at 5:44 PM on Apr. 26, 2011

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.
close Cafemom Join now to connect to other members! Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN