Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (111811)	4/29/2005 7:22:33 PM
From: Lane3	Read Replies (1) \| Respond to of 793955

Howabout a flat tax that takes the place of both the income tax and FICA? Why would we want to take social security out of general revenue rather than wages?

To: TimF who wrote (111811)	4/29/2005 7:33:52 PM
From: michael97123	Respond to of 793955

Might work.

To: TimF who wrote (111811)	4/30/2005 10:57:52 AM
From: MichaelSkyy	Read Replies (1) \| Respond to of 793955

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. FairTax Frequently Asked Questions: fairtaxvolunteer.org 1. What is taxed? The FairTax is a single-rate, federal sales tax collected only once, at the final point of purchase of new goods and services for personal consumption. Used items are not taxed. Business-to-business purchases for the production of goods and services are not taxed. 2. Exactly what taxes are abolished? 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. 3. How does the rebate work? All valid Social Security cardholders who are U.S. residents receive a monthly rebate equivalent to the FairTax paid on essential goods and services, also known as the poverty level expenditures. The rebate is paid in advance, in equal installments each month. The size of the rebate is determined by the Department of Health & Human Services’ poverty level multiplied by the tax rate. This is a well-accepted, long-used poverty-level calculation that includes food, clothing, shelter, transportation, medical care, etc. All the info you would ever want to know......and then some.. Check out the web-site. Mike