Great Dad Register | Login
2008 presidential election  
 
or
 
 
Most Popular
Most Recent
Republican
Bob Schaffer
Elizabeth Dole
George Allen
Gordon Smith
Jeanne Shaheen
Jeff Sessions
Jim Gilmore
Jim Inhofe
John Barrasso
John Cornyn
John Kennedy
John McCain
John Sununu
Lamar Alexander
Larry Craig
Lindsey Graham
Michael Enzi
Mike Johanns
Mitch McConnell
Norm Coleman
Pat Roberts
Ron Paul
Saxby Chambliss
Susan Collins
Ted Stevens
Thad Cochran
Democrats
Andrew Rice
Barack Obama
Bill Richardson
Carl Levin
Dennis Kucinich
Dick Durbin
Frank Lautenberg
Hillary Clinton
Jack Reed
Jay Rockefeller
Jeff Merkley
Joe Biden
John Edwards
John Kerry
Larry LaRocco
Mark Pryor
Mark Udall
Mark Warner
Mary Landrieu
Max Baucus
Tim Johnson
Tom Allen
Tom Harkin
Tom Udall
Archives
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
 

Mike Huckabee : Huckabee: Enact Fairtax to get rid of IRS and taxes

Posted by Dave on Thu. 10/18/2007 Nominate a Contradicting Video
     
0 Comments (1)
Rate it!
Description:
Huckabee: Enact Fairtax to get rid of IRS and taxes
Huckabee says we can do away with the IRS and taxes with by enacting Fairtax.
Tags:
Mike, Huckabee, Fairtax, IRS, taxes
Add your comments Back
Re: Huckabee: Enact Fairtax to get rid of IRS and taxes
ih2005 on Thu. 01/17/2008

The FairTax rate of 23 percent on a total taxable consumption base of $11.244 trillion will generate $2.586 trillion dollars – $358 billion more than the taxes it replaces ( http://snipurl.com/whatratewks ). [BHKPT]

The FairTax has the broadest base and the lowest rate of any single-rate tax reform plan ( http://snipurl.com/baserate ). [THBP]

Real wages are 10.3 percent, 9.5 percent, and 9.2 percent higher in years 1, 10, and 25, respectively than would otherwise be the case ( http://snipurl.com/realwages ). [THBNP]

The economy as measured by GDP is 2.4 percent higher in the first year and 11.3 percent higher by the 10th year than it would otherwise be ( http://snipurl.com/econbenes ). [ALM]

Consumption benefits ( http://snipurl.com/econbenes ) [ALM]:

• Disposable personal income is higher than if the current tax system remains in place: 1.7 percent in year 1, 8.7 percent in year 5, and 11.8 percent in year 10.

• Consumption increases by 2.4 percent more in the first year, which grows to 11.7 percent more by the tenth year than it would be if the current system were to remain in place.

• The increase in consumption is fueled by the 1.7 percent increase in disposable (after-tax) personal income that accompanies the rise in incomes from capital and labor once the FairTax is enacted.

• By the 10th year, consumption increases by 11.7 percent over what it would be if the current tax system remained in place, and disposable income is up by 11.8 percent.

Over time, the FairTax benefits all income groups. Of 42 household types (classified by income, marital status, age), all have lower average remaining lifetime tax rates under the FairTax than they would experience under the current tax system ( http://snipurl.com/kotcomparetaxrates ). [KR]

Implementing the FairTax at a 23 percent rate gives the poorest members of the generation born in 1990 a 13.5 percent improvement in economic well-being; their middle class and rich contemporaries experience a 5 percent and 2 percent improvement, respectively ( http://snipurl.com/kotftmacromicro ). [JK]

Based on standard measures of tax burden, the FairTax is more progressive than the individual income tax, payroll tax, and the corporate income tax ( http://snipurl.com/lessregress ). [THBPN]

Charitable giving increases by $2.1 billion (about 1 percent) in the first year over what it would be if the current system remained in place, by 2.4 percent in year 10, and by 5 percent in year 20 ( http://snipurl.com/moregiving ). [THPDB]

On average, states could cut their sales tax rates by more than half, or 3.2 percentage points from 5.4 to 2.2 percent, if they conformed their state sales tax bases to the FairTax base ( http://snipurl.com/staterates ). [TBJ]

The FairTax provides the equivalent of a supercharged mortgage interest deduction, reducing the true cost of buying a home by 19 percent ( http://snipurl.com/homebenes ). [WM]

ALERT: Kotlikoff refutes Bruce Bartlett's shabby critiques of the FairTax ( http://snipr.com/bbrebuke ).


 
 
 
Home |About us| Contact us | Recommended links | Terms and conditions | Privacy | Article RSS | Video RSS

Copyright © 2000-2017 ElectionSpeak.com all rights reserved.