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[+] Best E-Recording Software Provider? - Matt Daly/WI (1 reply)
2/6/2009 3:01:50 PM (2869 views)

[+] Ameristar -- please settle an argument for me - Alix Ott/MI (3 replies)
2/6/2009 9:25:33 AM (3794 views)

[+] American Title, inc. - Erin Carraway/NY (11 replies)
2/5/2009 2:39:06 PM (3473 views)

[+] ARROW ABSTRACT OF NEW YORK, INC. - Scott Perry/PA (5 replies)
2/5/2009 11:57:53 AM (3252 views)

[+] nXt Generation Title Services, LLC - Dan Zook/NY (11 replies)
2/5/2009 8:59:26 AM (3519 views)


Real Title Services


[+] mortgage fraud - Sheila Sten/PA (4 replies)
2/4/2009 3:48:02 PM (3271 views)

[-] Off the beaten path - AbstractorWatchdog com/NY (34 replies)
2/3/2009 10:36:52 PM (3172 views)
Re: Off the beaten path - STEVE MEINECKE/TN
2/3/2009 11:31:49 PM (3152 views)
Re: Off the beaten path - Patrick Scott/IL
2/4/2009 12:01:44 AM (3105 views)
Re: Off the beaten path - Scott Perry/PA
2/4/2009 12:55:17 AM (3155 views)
Re: Off the beaten path - Robert Franco/OH
2/4/2009 10:42:36 AM (3109 views)
Re: Off the beaten path - Kevin Ahern/CT
2/4/2009 10:52:16 AM (3108 views)
Re: Off the beaten path - Scott Perry/PA
2/4/2009 11:18:23 AM (2990 views)
Re: Off the beaten path - Clanci Nelson/OH
2/5/2009 4:48:33 PM (3033 views)
Re: Off the beaten path - Scott Perry/PA
2/5/2009 7:43:44 PM (5572 views)
Re: Off the beaten path - Robert Franco/OH
2/6/2009 10:09:45 AM (2822 views)
Re: Off the beaten path - Scott Perry/PA
2/6/2009 11:53:54 AM (2885 views)
Re: Off the beaten path - Robert Franco/OH
2/6/2009 12:44:49 PM (2813 views)
Re: Off the beaten path - Scott Perry/PA
2/6/2009 1:51:09 PM (2782 views)
Still makes no sense.... - Robert Franco/OH
2/9/2009 1:09:11 PM (3032 views)
Re: Still makes no sense.... - Scott Perry/PA
2/10/2009 3:26:30 AM (2825 views)
Re: Still makes no sense.... - Robert Franco/OH
2/10/2009 9:59:16 AM (2815 views)

Wow.  I'm almost suprised by that post.  Under the so-called "Fair Tax" the tax payer doesn't control the amount of tax they pay, unless you assume that all spending is optional.  If that were the case, very few people would pay any tax and the government would not be able to function.

The "micro managing" you speak of is a necessary part of our economy.  For example, allowing deductions for mortgage interest encourages home ownership, deductions for employer paid health care encourages employers to offer health insurance, tax-free contributions to retirement plans encourages people to save for their retirement, and education tax credits encourage people to get an education.  You may not agree with policy reasons behind the various Tax Code provisions, but for the most part they are good for our country.

I am sorry you don't have the "time nor desire" to address my "incorrect assumptions," you are the one who brought this up and I have taken the time to address yours.  Not the least of which is that you are under the misguided assumption that our current Tax Code is regressive!  Our graduated income tax is progressive, and as I have repeatedly pointed out the "Fair Tax" is regressive.

A progressive tax taxes those with more disposable income at a higher rate.  Under a regressive tax the tax rate decreases as the amount subject to taxation increases.  Basically, a regressive tax places a higher burden on the poor than the rich. 

The current Tax Code is progressive in several ways.  First, there is the basic graduated rates.  Those with less taxable income pay at various lower rates which gradually increases with the level of income.  Second, there are many deductions for necessities which work to make sure that those with less money don't pay income tax on the money they must spend on things like medical care and child care.  Third, there are tax credits for the poorest of our citizens.  Fourth, although it has its problems, the Alternative Minimum Tax prevents the problem that you keep mentioning, the rich get too many deductions and don't pay their fair share. 

The Alternative Minimum Tax could easily be fixed, and I believe that it will be fixed soon.  The problem is that unlike most provisions in the Tax Code, the amount of income you can have before you are subject to the AMT doesn't increase with inflation.  Thus, it is beginning to hit the middle class instead of just the very wealthy as it was originally intended.  Congress just needs to adjust the amounts in that provision for inflation.

Now, as I have pointed out several times, the "Fair Tax" is regressive because the taxpayers lose the benefit of the graduated tax rates.  Those rates start at 10%... then 15%, 25%, 28%, 33%, and 35%.  Under the "Fair Tax" everyone pays 30% starting with the first dollar they spend.  Since most of those in the middle class spend all of their income, they would pay 30% on all of their income and it would only be offset by the $500/mo rebate that you say a family of 4 would get.

Worse yet, those who borrow money - spend on their credit cards - would actually pay tax on more money than they actually earn!

The Tax Code isn't perfect, but it is better than the "Fair Tax."

Best,
Robert A. Franco
SOURCE OF TITLE

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Re: Still makes no sense.... - Debbie Thibodeaux/LA
2/11/2009 1:07:54 PM (2757 views)
Re: Still makes no sense.... - Robert Franco/OH
2/11/2009 1:43:23 PM (2722 views)
Re: Still makes no sense.... - Kevin Ahern/CT
2/11/2009 4:48:23 PM (2752 views)
Re: Still makes no sense.... - Robert Franco/OH
2/12/2009 12:46:38 AM (2686 views)
Re: Still makes no sense.... - Douglas Gallant/OH
2/11/2009 5:06:23 PM (2733 views)
As I Was Saying... - Scott Perry/PA
2/16/2009 12:14:21 AM (2726 views)
Re: As I Was Saying... - Robert Franco/OH
2/16/2009 11:56:29 AM (2838 views)
Re: Commercial Activity Tax... - Robert Franco/OH
2/16/2009 3:04:27 PM (5310 views)
Re: Off the beaten path - Clanci Nelson/OH
2/6/2009 4:45:51 PM (2940 views)
Re: Off the beaten path - Kevin Ahern/CT
2/6/2009 6:17:30 AM (2786 views)
Re: Off the beaten path - Robert Franco/OH
2/6/2009 10:03:24 AM (2817 views)
Re: Off the beaten path - Kevin Ahern/CT
2/4/2009 10:47:54 AM (2975 views)
Re: Off the beaten path - Robert Franco/OH
2/4/2009 11:06:18 AM (2854 views)
Re: Off the beaten path - Kevin Ahern/CT
2/4/2009 11:10:33 AM (2802 views)
Re: Off the beaten path - Scott Perry/PA
2/4/2009 11:31:26 AM (2853 views)
Re: Off the beaten path - Kevin Ahern/CT
2/4/2009 11:59:28 AM (2917 views)
Re: Off the beaten path - Barbara Bennett/IN
2/4/2009 3:28:50 PM (2743 views)
Re: Off the beaten path - Kevin Ahern/CT
2/4/2009 11:21:39 AM (2821 views)
Re: Off the beaten path - Clanci Nelson/OH
2/5/2009 4:25:01 PM (2970 views)

[+] reporting non-paying title companies to the underwriters - Michael Lanin/KY (7 replies)
2/3/2009 1:20:18 PM (3010 views)

Title Assurance & Indemnity Corp. of NA Cleveland, OH - MIchael Lanin/KY
2/3/2009 1:01:36 PM (2304 views)

[+] The Law Firm of Crystal Lowery - Edward Huguenin/SC (4 replies)
2/1/2009 8:20:52 AM (3443 views)

[+] What is considered slow pay? - no name/MI (2 replies)
1/30/2009 12:50:38 PM (3030 views)

[+] Probate Question - Helene /GA (7 replies)
1/29/2009 11:50:27 PM (2916 views)

[+] Preview of Coming Attractions? - Scott Perry/PA (11 replies)
1/29/2009 10:53:59 PM (4610 views)

[+] The Bankruptcy Club - AbstractorWatchdog com/NY (8 replies)
1/29/2009 2:56:14 PM (3213 views)

[+] MONEY OWED - quinn cioffi/PA (2 replies)
1/28/2009 2:38:15 PM (3266 views)


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