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Re: [NationalConstitutionalConvention06] Re: Fwd: [Christian_Libertarian] Fwd: [The Christian Libertarian Party] Privatization and the Fair Tax

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  • Paul Bern
    Actually, if the Fair Tax was enacted as a substitute for the income tax, it wouldn t need to be anywhere near 30%. Also, consider the enormously positive
    Message 1 of 3 , Feb 3, 2008
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      Actually, if the Fair Tax was enacted as a substitute for the income tax, it wouldn't need to be anywhere near 30%. Also, consider the enormously positive effect that no income tax would have. Individuals would see a 30% pay increase due to the elimination of federal withholding from our paychecks, and businesses would operate tax-free in order to better compete globally.
      On my website, I have a condensed version of what such an all-new American tax system would look like. Please allow me to reprint this here.
       
      Proposed Tax Reforms by the Virtual Democracy Party
       
      [1] Abolish the IRS and the income tax for individuals and businesses. Abolish the federal withholding tax for American workers.
      [2] Replace the income tax with a 7% national sales tax on retail and wholesale goods, including all Internet transactions.
      [3] Levy an Excess Wealth Tax for the super-rich. All individuals with a net worth or having net assets in excess of $30,000,000.00 will have to pay a 50% tax on anything over this amount. For example, a family with net assets or with a net worth of $40 million would pay no income tax on the first $30 million, but would have a flat-rate tax of $5 million on the last $10 million of their net worth.
      Businesses with a net worth or with net assets in excess of $700 million dollars would pay a 30% tax rate on all assets in excess of this amount. For example, a business with net assets of $1,000,000,000.00 would pay $100 million dollars tax on the last $300 million of the $1 billion total amount of net worth.
      [4] Abolish property taxes forever.
      [5] Estate taxes would be abolished forever.
      [6] Soft drugs such as marijuana, peyote, coca leaves, and certain hallucinagenic mushrooms would be legalized, regulated and taxed at a 14% rate. This would generate about $400 billion per year of revenue based on law enforcement estimates, and would create at least 100,000 new jobs.
      [7] The gambling and sex trades would also be legalized, regulated and taxed at the same rate, double the standard 7% tax rate mentioned further above. This would generate an additional $800 billion per year in tax revenue. These funds would go toward free college educations for every American child without exception.
       
      I doubt that everyone who reads this will either agree or disagree totally with each of the points in my proposed program. But, that does not matter because the discussion has to start somewhere. Any plan for a constitutional convention, no matter whose it is, will need a simple way to fund it such as this.

      Eric Reinhardt <ericreinhardt2003@...> wrote:
      I'm not a big fan of privatization of government services. Also would
      much rather see a flat tax.

      --- In NationalConstitutio nalConvention06@ yahoogroups. com, Michael
      Bindner <christianlibertari anparty@. ..> wrote:
      >
      >
      >
      > Michael Bindner <christianlibertari anparty@. ..> wrote: To: Robert
      Capozzi <editor@...> ,
      > christian_libertari an@yahoogroups. com
      > From: Michael Bindner <christianlibertari anparty@. ..>
      > Date: Tue, 29 Jan 2008 22:08:22 -0800 (PST)
      > Subject: [Christian_Libertar ian] Fwd: [The Christian Libertarian
      Party] Privatization and the Fair Tax
      >
      > From my blog
      >
      > Michael Bindner <xianleft_michael@ ...> wrote: Date: Tue, 29 Jan
      2008 13:53:00 -0800 (PST)
      > From: Michael Bindner <xianleft_michael@ ...>
      > To: christianlibertaria nparty@.. .
      > Subject: [The Christian Libertarian Party] Privatization and the
      Fair Tax
      >
      > The candidacies of Mike Huckabee and Ron Paul have raised the
      profile of the proposed Fair Tax, which would make up 23% of the
      purchase price on all new goods across the board, including those
      purchased by the government. Seen another way, it is a 30% tax on the
      base goods or services. As such, it would require a 30% cut in any
      taxed spending â€" or would require a higher rate to make up for the
      higher appropriation levels required to make the same purchases. If
      appropriations were not increased, then government contracting would
      decrease by 30%, forcing agencies to do more work in house. In other
      words, if the Fair Tax passes you can kiss all future and current
      privatization of government services goodbye.
      >
      > You could call the Fair Tax the bureaucrat reemployment act.
      >
      > --
      > Posted By Michael Bindner to The Christian Libertarian Party at
      1/29/2008 04:52:00 PM
      >
      >
      > Michael Bindner
      >
      >
      > The Site
      > http://www.geocitie s.com/christianl ibertarianparty/ index.html
      >
      > The Group
      > http://groups. yahoo.com/ group/christian_ libertarian/
      >
      > The Blog
      > http://xianlp. blogspot. com/
      >
      >
      >
      >
      >
      >
      > Michael Bindner
      >
      >
      > The Site
      > http://www.geocitie s.com/christianl ibertarianparty/ index.html
      >
      > The Group
      > http://groups. yahoo.com/ group/christian_ libertarian/
      >
      > The Blog
      > http://xianlp. blogspot. com/
      >


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