Anyone see the Tea Parties around the country on Fox News? Some good stuff, but can someone please explain what Fair Tax is and entails?
fair tax is whatever the obama administration wants it to be.
According to Obama. . Fair Tax is making the 15% of the working population that pay 75% of the nations taxes.. . to pay more.. or as our fearless leaders says "their fair share"
You mean the 15% that make over 80% of the nation's salary? Right?
Let me ask you this...
I get up everyday, work hard and try to earn a good living to provide for my family, just like many Americans. Lets say for arguements sake I make $250,000 per year.
Why should I pay a significantly higher tax rate then the guy at the GM plant who makes $75,000 per year...?
I have no problem paying what really is my fair share, that being the same federal tax rate as every other guy in the country who is trying to provide for their family.
The President has all but declared "tax warfare" on the people in this country that the Democratic party has labled "rich".
Do the math Pat. The 15% paying 75% are making 80%. Is that really paying their fair share?
But seriously tax rates have been higher for the wealthy since taxes were invented, blame Obama if you like - that's your partisan prerogative, but that's just a fact. It's also a fact that even for the wealthiest under the proposed new tax plan their tax rate would still be lower than it was ten years ago. And the differences in tax rates aren't that "significant" on a step by step basis. But if you want to say millionaires are paying at a significantly higher rate than those at the poverty level, well I'll give you that.
And be careful when you throw around flat tax ideas. That could hurt all socioecomic groups. Folks making under $50K would go bankrupt and folks like "you" (and I for that matter) making $200K + would likely see a net tax increase as we wouldn't have our property tax, mortgage interest, child care, education, and various other deductions that we are now able to use (and most of which those guys making $75K and less don't have because they can't afford) to bring our effective tax rate as low as folks making half of what we're making.