The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: FairTax||Date: 9/28/2012 7:11 PM|
|Author: ferjen||Number: 116713 of 122553|
What exactly is it about the Fair Tax that you think is going to prompt the black marketeer (and his suppliers) to report their sales for the Fair Tax even though they don't report them for the income tax?
I was referring to the other side. They have to eat don't they. They have to buy stuff, don't they. 23%. No matter the illegal activity, the tax gets collected when the bad guys spend their ill-gotten gains.
As for illegal aliens, you don't have the first clue. They certainly do pay taxes through withheld income and payroll taxes. They actually make a disproportionate contribution since they don't get the benefit of such programs as the Earned Income Tax Credit and Social Security benefits based on their work histories. I guess you assume that they all work off the books, which is a Fox News falsehood. If you live in an area with a sizeable immigrant population, volunteer to work with the Volunteer Income Tax Assistance (VITA) program. (Info available at www.irs.gov.) It's an eye-opener.
I guess you assume that they all work off the books, which is a Fox News falsehood.
I think quite a few work off the books as well as quite a few our own citizens. When they spend that money, they also get hit for 23%.
Spare me the liberal diatribe. I didn't attack you. So, I'm perplexed by your unprofessional Foolish response.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|