Thursday, April 16, 2009

TELL IT LIKE IT IS

Hello,have you heard about the fair tax? Do you understand the fair tax? As proposed the government would eliminate federal income tax and initiate a nationwide sales tax of 23%. Well you know the old saying be careful what you wish for. For instance the government would lose money doing this. People who are rich pay 60% and more of their total earnings after adjustments course they would be happy only pay 23% more for the items they purchase. In fact they would get keep 60% more of their income and purchase most of their hard items out of country which you and I cannot afford to do. The federal government therefore would be losing money not actually gaining money. Now you would pay sales tax as proposed on every you purchase, that includes electricity, natural gas, gasoline, diesel, any thing you purchase. How is that going to affect the price of products? Well add 23% to a gallon of milk a loaf of bread, everything. Do you really think rich people care about the price of milk or bread or caviar for that matter? No they don't. Does a husband and wife who are in the low income bracket trying to raise to three children care about the price of loaf of bread or a gallon of milk? Of course they do, if this so-called fair tax passes at 23% everything you purchase. Another thing to think about people on fixed incomes I receive approximately $1000 a month for my Social Security(retirement) at the present time I can make ends meet, however, take away 23% of my check and I am in big trouble now I am trying to make ends meet on $670 per month, can't do it. Because my income is low I only had to pay $44 in income taxes year. And if this bill passes everybody with low to moderate income will be hit the hardest. Read this bill understand this bill be careful of what you wish for.If the government is going to restructure our tax base do so with a flat tax of four or five increments. Anybody making below $30,000 a year would pay no tax. With the amount of tax increasing as income increased in stages. Make absolutely no deductions, no exemptions and no other loopholes to adjust gross income. The gross income would be your income with no exceptions. Possibly Congress might write an exception for catastrophic illness paid out a pocket and not through insurance. No deductions for interest paid on homes cars as etcetra, no deductions for college fees no deductions of any kind period. No exemptions of any kind. This is the only kind of tax that would be fair to the people. Unfortunately we need tax to keep the infrastructure of our country in good working order, with this kind of tax a person would have a chance it will even be encouraged to try to get ahead and make money. You would know that if you make more money your tax increase however you could make a lot more money per level and get ahead.Once again I tell it like it is

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