Taxes are unavoidable because government is needed and government operates on tax revenues. The FairTax is a tax-inclusive progressive national retail sales tax that replaces every other federal tax in America. The new national sales tax would be 23%. Although there have been some questions as to whether the sales tax rate is 23% or 30% and they stem from the meaning of tax-inclusive and tax exclusive. The sales tax in Florida is an example of an exclusive tax because it works of a preset base. If a person buys something for 1$ and pays a .30$ tax on it the sales tax is 30 percent because it is .30$ on the dollar. With the inclusive tax the item would cost 1.30 because the tax is included with the cost. The tax rate of 23% is calculated by dividing the tax paid by the total cost of the good or 1.30$/.30$ to get 23% of the cost as tax. The FairTax rate is inclusive so it reflects the rate of 23%.
The FairTax is a consumption tax, that will replace the income tax and eliminate the need for the Internal Revenue Service or (IRS) for short. The FairTax would eliminate self-employment taxes, death taxes, capital-gains taxes, corporate taxes and a lot of others and replace complicated regulations with a simple easy to collect sales tax. The tax would cause GDP to grow because without an income tax people will have more money to spend and the increased spending would fuel economic growth. The FairTax bill also has a provision that will issue a monthly “prebate” to nullify the tax on basic necessities like food. There will no longer be individual tax returns only businesses will pay taxes to the government with the tax money consumers pay. The compliance costs for the FairTax will be lower because of fewer collection points making less...
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... alternative minimum taxes. This tax will let the people become more active in government because under this tax they don’t have to pay for it. The FairTax helps create jobs because it gives people more money to spend increasing consumption and creating jobs which are desperately needed now. The repeal of these federal taxes will attract foreign investors to America to spend and help to grow the economy. Although many Americans are getting tax refunds around this time they are only getting the money they should have already had. The simple way to fund the government is much better than the complicated and confusing process of filing taxes. April 15th can just be another normal day for all of us, instead of one of the year’s most stressful days. As the FairTax gains support the United States is getting closer to the day when it says goodbye to April the 15th forever.
1. What is the tone of this article? The tone of this article is kinda snotty but truthful in all ways.
repeal President Barack Obama’s “Affordable Care Act”. There was a rejection of two different amendments, they both would have reimposed Planned Parenthood’s funding but one included a new tax on millionaires. However, the bill will not become
..., while at the same time doing their best to heighten economic class warfare. The FairTax Act is not addressing anything other than tax collection and pointing out that the worker is already paying the brunt of the tax bill, the FairTax just lets the worker know exactly how he is taxed and by how much. More importantly the worker can choose how much tax to pay, giving them more power over government, a power balance that has been in favor of government since the 16th Amendment was adopted. The very advocates against this plan want government to maintain this overwhelming power over the citizens; it allows the politician to hand out favors and punishment in the form of tax cuts and increases. These same advocates preach equality while dividing the classes; it is this division of voting blocks that politicians can play to that will be eliminated with the FairTax Act.
Hall, A. (2001, August). The Flat Income Tax and the Fair Tax Consumption Tax: A
The tax policy in the United States is very confusing. When the tax policy was originally written in 1913 it was four hundred pages. Now, over the past ninety one years, that tax policy has evolved to over 72,000 pages. Since the tax code has become so lengthy and nearly impossible to understand, the topic of tax reform has been in the minds of many. Although, most barely think about tax reform until tax season. It is a controversial subject due to the impact a change in tax code would have on the American people. The two most popular and widely known stakeholders in this debate are the two major political parties in the United States, the Democrats and the Republicans. The two parties share absolutely no common ground on the subject of tax reform, other than thinking the other parties solution is wrong. The Democrats, in general, want to raise taxes on the wealthy, while Republicans, generally, want to cut taxes for everyone (Democratic Party) (GOP). Unfortunately, with the United States economy currently doing so poorly, the parties can no longer afford to remain at a standstill, some sort of compromise is going to have to be made. The implementation of a flat tax, and discarding the current tax system would be a compromise that both parties can agree on and will simplify the tax code, overall benefiting all Americans.
In the United States, there are many different types of taxes. Some of them are goods and services, income, and property taxes (debt.org). The two most common taxes are the Flat Tax and the Fair Tax. Basically, Flax Tax is one income tax rate that everyone has to pay. Fair Tax is a proposal amendment to tax laws that removes the federal and state income taxes and replace it with a federal retail sale tax (Investorwords.com). Our current tax income system that we use is called Progressive Tax which is the tax system that takes a larger percentage from those who earn a higher income than those who earn a lower income (Investopedia.com). Out of all those taxes, the best one that I believe that can replace our current tax system is the Flat Tax because research has shown that it can be very beneficial for our economy today.
...l immigration. We don’t care about how much revenue is generated; we care about how illegal immigration is sucking the life out of employment. Without low paying jobs available, unskilled workers are unable to work, to provide for their families, and are left to collect unemployment.
falling behind. A minimum wage increase would help to stimulate the economy, and stop the
The best sources used was the chapter on taxes in the textbook Battleground: Government and Politics. This gave the most comprehensive overview on flat tax. The second best would be the article from George Mason’s Walter Williams because he clearly understands that it is a good idea; however, it will not pass. Even though a majority of the articles stated there was a problem with the current tax system, there was no plausible ways to fix it. Flat tax would not be used because it would remove tax deductions for things like mortgages, donations, educational expenses, etc. Additionally it would remove jobs from accountants as well as IRS agents whose job it is to enforce the tax code. Neither people, nor politicians would be willing to give up their tax deductions and for that reason the flat tax would not work. The current tax code is not a perfect system, but it is the best that we
The United States Federal Communications Commission, also known as the FCC, introduced the Fairness Doctrine to make broadcasters report controversial issues of public importance in a manner that was equally balanced, honest, and fair. Broadcasting companies were required to provide a certain amount of airtime reporting accurate and fair information both for and against public issues. Broadcasters were not required to provide equal time for opposing views, but were required to present opposing viewpoints. Broadcasters were received broader boundaries as how to how they were to provide those opposing views. Because under the constitutional right of free speech, the government wanted to insure that broadcasting companies provided both accurate and fair information from both sides of the viewpoint.
The flat tax will make taxes fair for all people. No matter what race a person is, what social class a person is in, or who they’re friends with, they will end up paying the same rate. Every single taxpayer will have to sacrifice just as much of his or her life as the next person down the road. One of the three main reasons for taxes is to maintain fairness. This is most reasonable ways to maintain fairness. The wealthy will still be paying more money than the poor person, but they both have the same tax burden.
Throughout the history of television, it has been evident that certain news stations have portrayed their news in a way that aligns itself with a certain viewpoint or political position. For example, today one can see how stations like Fox take a conservative stance on most issues while CNN takes a more liberal perspective on the same issues. Much of the influence that the media could have on people, especially during elections, was a cause of alarm for many people. This led to the creation of the Fairness Doctrine in 1949.
In a series of articles written by Thomas Sowell The Fallacy of Fairness, Sowell’s primary points are people use the word “fair” without even knowing what the word really means. Everyone should consider the exact meaning of the word before using it. Sometimes a word sounds good to the ear but it has a different meaning. An example Sowell’s uses to illustrate this is the psychological examination that is given to the incoming college students. Many people say that the test should not be given to the students as the results will be biased. Therefore, life is going to be different for everyone. Life is not about fate; it depends on an individual attitudes and behavior to be successful.
The four types of taxes this paper will discuss are income tax, sales tax, property tax, and user fees. Income tax was not permanently established until the 16th Amendment was passed in 1913. Most federal taxes had been previously derived from excise taxes on tobacco and alcohol and other consumer goods. The US Constitution, when written and still continues to, legitimize taxation in the United States through Article I, Section 8, that Congress has the power to lay and collect taxes, duties et al, pay the debts or provide for the common defense and general welfare of the United States (Cornell Law LII). Investopedia defines income tax as ‘a tax government(s) impose on financial income generated by all entities within their jurisdictions (Investopedia, 2014). Businesses and individuals are required to file an income tax return every year to determine if they owe taxes or qualify for a refund. That is determined by measuring the total income one earns to a designated tax rate, calculating one’s taxable income, which are some or all items of income reduced by other adjustments or expenses in that tax year. There are different subcategories of income tax; there is a federal income tax that is set by the federal government, apart from a few states, there is a state income tax that is imposed on their respective residents, as well as the possibility of there being local income tax ...
1) Tax is the amount of money demanded by government to financially support the economy. The main two types of tax are direct tax and indirect tax. Direct taxes are levied on the income, property, or wealth of an individual (e.g. Income Tax & Corporate Tax). Direct taxes tend to be progressive, efficient, and flexible. However some will also argue that it encourages tax evasion, disincentive to work, tax havens which results to leakages, and is unpopular with the electorate. On the contrary, indirect taxes are charged upon goods and services, thus affecting citizens indirectly (e.g. VAT & Council Tax). It is effective because it let the people decide whether or not to pay it. However, taxes like VAT are regressive towards citizens.