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Hassa, The difference

Hassa, The difference between you and me paying taxes, is that you get to receive tax subsidized care and I do not. No one has explained to me why I should be forced to subsidize my competition's employee benefits AND pay, full price for mine. Seriously, think about that. I wonder why you think I am not part of the wealthy. Not all of us are opposed to spending money, if there is a benefit in doing so. These skewed tax subsidies for health care to ALL government employees and ALL big business is really costing the small businesses and individual tax payers waaaaaaaaaaay more than it needs to and it is simply unsustainable. I run the numbers all the time. As far as the flat tax, I have researched that and I found some major errors in the flat tax. First of all, they have had to amend the percentage from 23% to 34% as they realized that there simply wouldn't be enough revenue. Secondly, it would hit the middle class pretty hard (and that's my bread and butter), as ATF's Burton admits: "Burton agreed that those earning more than $200,000 would see their share of the overall tax burden decrease, admitting that “probably those earning between $40[thousand] and $100,000” would see their percentage of the tax burden rise." Also, you have to keep in mind that you would be taxed on ABSOLUTELY EVERYTHING. Here is what would happen if you were to pay for a home under the "fair" tax: OK, so here is a $200,000 home. You put down $40,000*. You purchase the home and have to pay 34% on that, which adds $54,400 to that price! LOL So, then, you'd have to pay taxes on the interest on your mortgage which is $214,400. At 4% interest. So, you have 1023.58 + 34% (348.01) + insurance (once a year $1,000 + 34% ($1340/12=$111.22/mo) + county and city taxes ($90). Payment: 1572.81 X 30 years= $566,211.60 Compare that to buying a home at $200,000 with $40,000 down. You'd need a loan of $160,000. 4% interest $763.86 + insurance, once a year 1,000/12= 83.33 + $90= Payment: 937.19 X 30 years= $337,388.40 Add in lawyer fees- $1000 + 34% (1340) Loan origination fee= $1500 + 34% (2010) Inspection fee= $250 + 34% (335) Appraisal fees= $350 + 34% (469) pest inspection= $100 +34% (134) 3200 vs. 4288 HECK NO, I would not be happy with that at all. *If you couldn't pay 20% you'd also have to pay PMI + 34% Here is more info on the Fair Tax: At first I thought it may be an interesting option, and I would actually benefit under it, however, it would cause a halt to the economy because as much as people hate paying taxes, they would be having to do it with every single aspect of a purchase. That would get old very fast and as a business owner, I wouldn't benefit overall from a 34% hike at every angle of a purchase (just think of returns- eeekk!). It would be an absolute nightmare for us.


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