My Vote is for sale!

[Aquapod770]

(08-10-2016, 07:08 PM)NATI BENGALS Wrote: So if you are below the poverty level they will give you a check each month. If you are in the middle class you pay the same tax as the super rich. Except the middle class I imagine buys a lot more good collectively than the super rich. So while it costs more for a middle class family to feed and clothe their family the super rich can play at the casino and risk the retirements of anyone below them because no capital gains tax gives them no incentive to hold on to an investment. 

This sounds like one of the worst tax ideas i have heard. First time hearing about so i really dont know much. But my initial reaction is a billionaire makes all their money tax free, invests tax free, they just have to pay a little more for the extravagant goods they buy ,the Mcdonalds or whatever food they are eating on their jet will cost a little more for everybody , and that is going to provide enough money to pay for national defense and infastructure? Color me skeptical

"A little more" 

Let's use your example of a jet. A low end private jet costs about 4 million dollars. (http://www.privatejetcosts.net) 

4 million means this fictional evil 1%'er will be paying $920,000 alone in taxes on that jet. 

Now let's say Joe is buying a new car for $15,000. His price just went up $3,450 because of this huge tax cut for the rich. 

If you're bad with your money and buy a lot of pointless things, sure you'll end up paying a lot in taxes. I would hope most middle class Americans aren't spending 100% of their income each year.  

Let's do another example: Joe and his wife make $100,000 a year, so when they file their taxes currently their income is taxed at 25%. That's $25,000 in income taxes alone (ignoring deductions for the sake of time and simplicity). Let's say they spend all $75,000 they have left. If they made and spent that same amount under the Fairtax plan they'd pay $17,250 in taxes, or $7,750 less in taxes then they currently do.