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My personal blog about the upcoming presidential election, voicing my opinions on the candidate I am supporting for the upcoming election in 2008. It may also include personal posts I may choose to add.

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Thursday, November 30, 2006

Opponents of the Fair Tax





Some economists are predicting that the fair tax (HR25/S25) would place the burden of the tax to the poor and retirees.
There have been speculations that it will create new taxes, such as sales on the internet would be subject to the tax. Some also speculate that it gives the Federal Government easier access to raise taxes.
It would also put additional burden on companies, big or small, to become the tax collector for the Federal Government. In return the Businesses would get a 1% of the taxes they collect for the government.
Other opponents claim that it could also cause consumer debt to skyrocket. I have posted a link to a website that explains pesonal opinions of the drawback to the fair tax. You may also click here for more info on the opposition to the fair tax.
My opinion

Whether the S-25HR-25 will cripple or excel the economy, my prediction that the economy would grow. The bottom line is since the ratification of the 16th amendment, new and rising taxes have gone out of control. Most states have implemented a sales tax, most states have a state income tax. Pennsylvania has both sales tax and income tax. There is also the occupational tax in Pennsylvania which is $52 a year.
Tax reform is needed. The entire system indeed due for a complete overhaul. It would not be a bad idea to audit the entire government and cut wasteful spending.
The entire taxpayer roll just seems to be a complete unsigned paycheck for those who have access to the funds. Whether it would be politicians themselves or bureaucrats, your guess is as good as mine. The waste must stop.
No tax reform, no matter of you cut or raise, is going to help unless the waste and spending are under control. That is the bottom line.

3 Comments:

  • At Thursday, November 30, 2006 4:48:00 PM, Blogger Pennsylvania Independent said…

    I am a fiscal conservative and feel tax money needs to be spent better and spend ONLY what the government brings in as revenue.
    It just seems the current government just keeps on spending and spending and when they spend more they bring in, they just borrow it.
    The politicians just don't care how much they borrow. I have a counter of national debt on the right of my blog. Since I placed the ticker on my blog, the debt went up nearly $300,000,000,000

     
  • At Friday, December 01, 2006 6:21:00 AM, Blogger Jon said…

    Penn,

    I agree with you, we need true tax reform (fair tax would be a good start)and at the same time control on government spending that is way out of control. I think if the Republicans would have worked as hard on reducing spending as they did on tax cuts they would still be in the majority come January. Many conservatives lost faith in the so called conservative Republicans in Congress and were looking for a change even if it meant putting the Democrats (tax and spend by nature) into the majority.

     
  • At Sunday, December 03, 2006 2:27:00 AM, Anonymous Anonymous said…

    I haven't heard anything coming out of the new majorities about cutting spending. All of you that work for a living know that if you are a responsible person you must cut your spending if you cannot cover the monthly bills. You cannot continue to borrow and expect it not catch up with you sooner or later. Raising taxes is not the solution. Who here thinks they are not taxed enough? I say that the public schools must start teaching economics again and stop teaching the children the government is the solution to all of their problems. I could go and on but the truth was said by Jon when he said "I think if the Republicans would have worked as hard on reducing spending as they did on tax cuts they would still be in the majority come January." Now we're going to have an out of control spending spree by democrats and they aren't shy about raising your taxes to do it. I've already heard the new speaker of the PA house say he wants to raise the sales and property taxes to pay for all the new spending coming down the road. Hold onto your wallets folks. We all knew this was coming eh?

     

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