Sunday, July 08, 2007

I Agree With Giuliani

Rudy Giuliani is booed in Jacksonville. For not supporting abolishing the federal income tax.


Several dozen people wearing white fair tax T-shirts and hats and carrying signs briefly jeered when Giuliani, in response to a question, said he would not be in favor of the fair tax system.


"I have to study it some more," the former New York City mayor said. "I don't think a fair tax is realistic change for America. Our economy is dependent upon the way our tax system operates."


"Fair tax" proposals would abolish federal income taxes and other federal taxes and replace them with a national sales tax.


This national sales tax is a horrible idea supoported by conservatives and Democrat Mike Gravel. I have a hard time believing a national sales tax pitch will fly with voters after seeing how it crashed and burned in Florida. This maybe one of the few times when I actually agree with Giuliani. Mark the day on your calendar.

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2 Comments:

At July 09, 2007 4:29 AM , Blogger Ian said...

Sorry, but to keep ANY tax on income is to keep the ABUSE ALIVE.

---{snip}---

Here ya go, Giuliani, a quick primer: This is why the FairTax MUST
replace the income tax. It's...

• SIMPLE, easy to understand
• EFFICIENT, inexpensive to comply with and doesn't cause less-than-
optimal business decisions for tax minimization purposes
• FAIR, loophole free and everyone pays their share
• LOW TAX RATE, achieved by broad base with no exclusions
• PREDICTABLE, doesn't change, so financial planning is possible
• UNINTRUSIVE, doesn't intrude into our personal affairs or limit our
liberty
• VISIBLE, not hidden from the public in tax-inflated prices or
otherwise
• PRODUCTIVE, rewards, rather than penalizes, work and productivity

Its benefits are as follows:

FOR INDIVIDUALS:
• No more tax on income - make as much as you wish
• You receive your full paycheck - no more deductions
• You pay the tax when you buy "at retail" - not "used"
• No more double taxation (e.g. like on current Capital Gains)
• Reduction of "pre-FairTaxed" retail prices by 20%-30%
• Adding back 29.9% FairTax maintains current price levels
• FairTax would constitute 23% portion of new prices
• Every household receives a monthly check, or "pre-bate"
• "Prebate" is "advance payback" for monthly consumption to poverty
level
• FairTax's "prebate" ensures progressivity, poverty protection
• Finally, citizens are knowledgeable of what their tax IS
• Elimination of "parasitic" Income Tax industry
• NO MORE IRS. NO MORE FILING OF TAX RETURNS by individuals
• Those possessing illicit forms of income will ALSO pay the FairTax
• Households have more disposable income to purchase goods
• Savings is bolstered with reduction of interest rates

FOR BUSINESSES:
• Corporate income and payroll taxes revoked under FairTax
• Business compensated for collecting tax at "cash register"
• No more tax-related lawyers, lobbyists on company payrolls
• No more embedded (hidden) income/payroll taxes in prices
• Reduced costs. Competition - not tax policy - drives prices
• Off-shore "tax haven" headquarters can now return to U.S
• No more "favors" from politicians at expense of taxpayers
• Resources go to R&D and study of competition - not taxes
• Marketplace distortions eliminated for fair competition
• US exports increase their share of foreign markets

FOR THE COUNTRY:
• 7% - 13% economic growth projected in the first year of the FairTax
• Jobs return to the U.S.
• Foreign corporations "set up shop" in the U.S.
• Tax system trends are corrected to "enlarge the pie"
• Larger economic "pie," means thinner tax rate "slices"
• Initial 23% portion of price is pressured downward as "pie"
increases
• No more "closed door" tax deals by politicians and business
• FairTax sets new global standard. Other countries will follow

Kapisch?! Now, that wasn't too hard, Rudolf, was it?

---{snip}---

 
At July 09, 2007 1:47 PM , Blogger PBH said...

Rudy Giuliani or Vampire Ghouliani?

 

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