FairTax potential effects on gambling

[MicroBob]

i'm bleeding-heart liberal enough that most democrats aren't 'left enough' for me. And I'm in favor of this.

[The Dude]

The FairTax proposal is a phenomenal idea. There are several things I like about income tax (its progressive nature, ability to encourage/ discourage economic behavior, and a few others), and when I first heard this idea I was opposed to it. But upon further investigation, I found that not only did FairTax's "consumption tax" adequately replace those things, it does a much better job of them.

I've spent a decent amount of time discussing this in the politics forum, so I won't go into great detail here, but those interested and/or skeptical really should check out www.fairtax.org and research it more.

I haven't read the book, but when I get back from my vacation it will be the first book I buy.

[itsmarty]

</font><blockquote><font class="small">In Antwort auf:</font><hr />
i'm bleeding-heart liberal enough that most democrats aren't 'left enough' for me. And I'm in favor of this.

[/ QUOTE ]

[bobbyi]

My state has no income tax, and one thing I like about it is that I don't have to worry about how to report gambling income to them, so I definitely hear what you're saying.

[jba]

[ QUOTE ]
[ QUOTE ]
i'm bleeding-heart liberal enough that most democrats aren't 'left enough' for me. And I'm in favor of this.

[/ QUOTE ]

[/ QUOTE ]

regardless of political viewpoint of you or any politician for that matter this will almost positively never happen.

lawyers and accountants literally make billions on helping people figure all this crap out and something like this will kill it. they have too much money and influence to allow something like this to happen.

nice thought though.



oh and I'm usually not a pessimist but stuff like this....

[AAAA]

While I am definitely in favor of anything that slows the growth of big government, and big business...and tax collectors (I am in favor of small government, and small businesses and responsible use of resources) I see a problem with the idea of a flat tax that is VAT or consumption based...it encourages more of tax evasion for bartering and drastically discourages innovation because there is a big incentive to make do with the old model or buying a used version because you don't have tax to pay.

The numbers that are being generated to say this is going to generate the same tax dollars we have today are flawed. The 23% won't cover the cost of government as we know it. Perhaps that isnt' a bad thing.

[bills217]

[ QUOTE ]
I see a problem with the idea of a flat tax that is VAT or consumption based...it encourages more of tax evasion

[/ QUOTE ]

Did you consider that while that aspect certainly could increase slightly, all the CURRENT criminal tax evasion by drug lords, etc., would be essentially vanquished. Drug lords spend a lot of money. I'll let you decide which effect will be more significant.


[ QUOTE ]
The 23% won't cover the cost of government as we know it.

[/ QUOTE ]

And your support for this is...?

Of course, as you say, even if it were true, that may be more of a pro than a con. [img]/images/graemlins/smile.gif[/img]

[AAAA]

I did want to bring up the idea of how unhappy I am with the negative consequences for poker players of the Money Laundering rules.

Actually a big Pro for this would be the possible elimination of money laundering rules that the government passes to reduce drug money, but instead they call us criminals for helping someone move money from one site to another.

Let's hear it for the Fair Tax.

[jrbick]

[ QUOTE ]
Goods would be taxed 23%, but the cost of making goods would fall as corporations would no longer be taxed, they can sell there goods at a lower price, and the net cost of goods would be very small.

[/ QUOTE ]

Thus they would have more money to spend on healthcare as it stands now (hopefully that too will change, but i'm clueless as to such... just know that it SUCKS right now).

This tax idea really does take care of a TON of problems that are unrelated to the current mire that is our current Tax Code. Has anyone seen a printed copy of our tax code, btw? I'm pretty certain that it consumes entire shelving units. I vaguely remember a conversation I had w/ someone who had a copy of it and actually knew what he was doing w/ it.

[mosquito]

The "Fair Tax" is the same as (essentialy)the Value Added Tax employed by many nations, including Canada.

There are many, many problems with the system.

All plans look good on paper, but usually suck
when implemented.

Not to worry, ain't happening in the next 10 years.