Online Tax revolt

[slowz1k]

For those of you that may not know about the "online tax revolt" , or may not be familiar with the "Fair Tax" movement. here are a couple of links to the websites. It probably won't make a difference but Iit's nice to see like minded individuals gather in one place to protest our current tax system.... even if it is virtual.

http://www.onlinetaxrevolt.com/

http://www.fairtax.org/site/PageServer

[littleone1]

I joined the online tax revolt the day it came out. I really wish that more people would educate themselves on the fair tax. In my opinion this is the way to go and would be fair to all. No more free loaders!

[Visinedrops]

I've read through most of "An Open Letter to the President, the Congress, and the American people
Concerning Reform of the Federal Tax Code" and the basic principle outlined is a national sales tax that will be equal to the income generated by 9 other federal taxes. With this possibility in place, it would be possible for the government to hike sales tax to somewhere equivalent to 17-25% of the cost of an item. Personally, filing single and having only one allowance (myself), I pay roughly 15-17% of my gross earnings in federal withholding tax.
I feel a better solution to the tax problem is not only to eliminate the expansive and confusing tax process we have already, but to charge a simple 10% income tax on EVERYONE, regardless of income, and not having to file for a return. A person making $25,000 per year would pay $2500 in tax, a person making $150,000 would pay $15,000 per year in tax. This would not only make tax equal, it would allow the person living in the poverty level a chance to build more wealth while keeping accountable those making 6 or 7 digit salaries per year.

[slowz1k]

Visinedrops,

Good points. I was a proponent of a flat tax as well, until I read more on the Fair Tax. My greatest fear at this point is all of the talk going on about installing a VAT or value added tax, like most of Europe deals with now. The VAT is a very primitive, smaller scale form of the Fair Tax. The problem is that the current administration is getting ready to add it in addition to our current tax system.
This will be a public assassination of B.O.'s no higher taxes promise.... Big surprise there.
I'm not smart enough to debate tax issues but I did find the following on Boortz.com.
I'm not one of those "Boortz is God" people, but I do think he's got a good grip on the tax knowledge.

From Boortz.com

Flat Tax vs. Fair Tax

Yes, I know. Some of the people that we would love to have supporting the FairTax have weighed in in support of a flat tax instead. So ... here's some flat tax vs. FairTax issues some of you may want to consider.

1. In 1986 the Congress reformed our tax code to essentially give us a flat tax ... a flat tax with two rates. Fifteen and twenty-eight percent. Most deductions were eliminated. Today's tax code is the result of that effort.

2. A flat tax leaves the IRS in place. You'll still have to report your income to the IRS every year, and you'll still be subject to audits.

3. Social Security and Medicare payroll taxes? Still there.

4. Do you get 100% of your paycheck? No. Withholding will still be there.

5. Business taxes? Still there .. and they'll remain embedded in the price of every good and service you buy, so you'll be paying them.

6. Corporate board meetings? They'll still spend an inordinate amount of time working on the tax implications of business decisions, rather than just basing their business moves on what's best for their customers and shareholders.

7. K Street lobbyists? They're still there too. They'll still be drawing their six-figure incomes while they game the new flat-tax for the benefit of their clients.

8. Bring American businesses back home? Nope. Business taxes are still there, so American businesses will still locate their operations overseas in order to escape our punishing business income taxes.

9. Death Tax? Gift Tax? Still there in all the flat tax proposals I've seen.

10. Will the flat tax bring American wealth back home? The latest estimates put $10 trillion of American wealth in offshore financial corporations. There is only one reason that money isn't back here working ... and that's our income tax structure. Will the flat tax bring that money back home? Nope. The FairTax? Yup.

11. What about the poor? They're not paying income taxes now ... will they pay the flat tax? No way! But politicians will still be looking for a way to raise taxes on the rich so that they can relieve the poor, poor pitiful poor of the responsibility for paying for their own Social Security and Medicare.

12. Will all Americans be able to buy the basic necessities of life without any federal tax consequences under the flat tax? No. The FairTax? Yes.

13. Will foreign visitors to our shores contribute to our Social Security and Medicare programs under the flat tax? No. The FairTax? Yes.