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Do you think that the Trump Tax plan will help the middle class?

I have no idea

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1. Eng SSN 754
     (11/21/2017 6:08:34 PM)
     Message ID #294082

This message is in response to D James ( message id #294079 )  Back To All Messages

First off, I have to apologize. I conflated and confused the fair tax (i.e., a consumption tax or national sales tax) with the flat tax. I thought the former was the latter. This was my error. I know the difference, and I stand by my comments.

I am well familiar with the “Fair Tax”. The problems with it are two-fold (at least). It is a HIGHLY regressive form of taxation that, even with its “prebates” will disproportionally affect the middle and lower income strata of society simply because they have less discretionary buying power and decision-making ability compared to higher income stratas. Second, it will have unpredictable and potentially unintended effects on national production and GDP. For instance, with the national sales tax at 23% (which is barely sufficient based upon the current spending of the Federal government and is insufficient based on future spending projections), a $100 item that would cost $108 (including current sales taxes) will now require more than $130 to come out of pocket. That is some sort of sticker shock. Yes, I recognize that there will be more money in pocket because of no Federal income (and maybe payroll) tax withholding (plus prebates), but… And, this will also have unpredictable consequences on the “new versus used” markets. Late model used will look incrementally more attractive because of lower cost PLUS lower tax expense (think automobile, higher cost, durable goods-type purchases). The list of potential examples is virtually endless.

Regarding the “fast and loose” assertion, and the statement that the “website is very well documented and sourced”, those are both statements of opinion, as much as you think that my statements are “opinion as a substitute for fact”. While the Fair Tax web site is comprehensive, it is also promoted by a demographic that will garner disproportionate benefit from a national sales tax scheme. You validate this assertion when you state that our Vice President has been one of its original and continuing supporters. The web site does not address with sufficient adequacy (or at all) some of the potential problems from such a plan, some of which I have articulated above.

It would be a far more effective and efficient form of tax collection. That is for certain.

I agree that we NEED a Convention of the States. Our system of taxation is, in many ways, just a symptom of more systemic problems. The Federal government has grown too big for its britches!

2. Noel Meyer
     (11/21/2017 6:49:15 PM)
     Message ID #294084

This message is in response to Eng SSN 754 ( message id #294082 )  Back To All Messages

Just wondering-

If the flat tax or the fair tax is such a good idea, why is it so hard for the Republican Party to promote either plan as their tax reform?

Permanent tax cuts for corporations and the very rich, temporary tax cuts for the middle class, pennies for the middle class while the corporations and the very rich get almost a 50% tax cut.

NO, the Trump Tax plan (why is it called the Trump Tax Plan? Trump spent no involvement in creating it) is for the corporations and the very richest only.

3. D James
     (11/21/2017 6:47:16 PM)
     Message ID #294086

This message is in response to Eng SSN 754 ( message id #294082 )  Back To All Messages

Excellent post. That's why we need a Convention of States. All roads lead to Rome. Well done.
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