The Global Flat Tax Revolution
Uploaded by: afq2007
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This mini-documentary from the Center for Freedom and Prosperity discusses the global flat tax revolution. There are now 24 flat tax jurisdictions (actually 25, but we didn't know about Trinidad & Tobago when the video was filmed), a remarkable development given the ideological opposition to tax reform from special interest groups and class warfare advocates. The six-minute video explains the key features of the flat tax revolution and highlights the reforms in Hong Kong, Estonia, and Iceland. The flat tax revolution has been especially strong in former Soviet-bloc nations, a rather ironic development since a so-called progressive income tax was a key tenet of Marx's Communist Manifesto.
Tags for this video: and competition Flat freedom prosperity reform tax
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Btw, if you're worried about people avoiding taxes you should consider the current system in which many people who are making money are not taxed, but under the FairTax would be (illegal aliens, drug dealers, under-table contractors).
It would also cut back on corruption in Washington by eliminating the leverage of tax breaks which politicians exchange for support and such.
2. The fair tax punishes the middle class b/c they spend a large amount of their incomes such that it would not be offset by the prebate.
3. The fair tax encourages black market sales b/c it would make it so that goods sold w/o being reported to the government could be sold at a substantial discount.
No?
Remember that under the Fairtax payroll taxes would be gone. People will have more of their income to spend as they like.
If you really want to get down to brass tacks, it would still be the rich that pay the most taxes because people who have more money spend more money. Plain and simple.
There are places outside of the U.S. that do not have the oppressive tax burdens that we do. Consequently, many American businesses choose to take their money elsewhere. If we reformed our tax codes we could bring business back home.
I think only 8% of the tax burden is paid by businesses. Personally, I'd get rid of business taxes altogether.
Where did you come up with the projected 29%? I can't just take your word for it. What's your source?
People will not smuggle goods from Canada. They have higher taxes than we do.
A VAT could actually encourage black market sales. People will not go out to buy groceries on the black market. It just wouldn't be worth the trouble. However, for a boat or an airplane... If you could avoid thousands of dollars in VAT, why not?
PA sales tax: 6% Proposed fair tax rate: 23%
23+6=29
Yes, but it is income tax, not sales tax.
We shall see. Oh, wait. No we won't.
The "fair" tax is regressive, plain and simple.
You continue to use the term "regressive". The proposal may be regressive on income. It is also progressive on consumption.
I don't know your politics but I suspect that you have a much different philosophy from myself and that may prevent us from seeing eye-to-eye.
If you would like to educate yourself on the subject I suggest you read Neal Boortz's book about it.
And frankly you fools in America just handed your county to the wolves. You have a Marxist for president, a bulldog for a VP, and a bunch of nitwits that are more interested in personal power than fixing the mess they made of the global economy. I spit on you!
15% flat rate tax on total household income over $15,000 USD (single), $30,000 (married) + $3,500 per child under the age of 18 living at home.
With a complete abolition of all other forms of taxation at the federal level. Ending of all federal programs that are not a part of the Legislation, Judicial, and Military branches of the government.
(note this tax will take on social security, medicare, and everything else on the federal level)
For incomes below the national average:
Income times .000596 = % tax owed
For incomes at and above the national average:
(the 32nd route of income - 1) times 56.68 = % tax owed
No deductions. No tax credits. Period.
and of course: iceland is broke.