Fair Tax Bill of 2007 [Withdrawn]

[Ebowed]

Fair Tax Bill of 2007

1.) All citizens making less than $100,000 will pay 5% of their taxable income to the federal government
2.) All citizens making between $100,000 and $200,000 will pay 10% of their taxable income
3.) All citizens making between $200,000 and $1,000,000 will pay 15% of thier taxable income
4.) All citizens making over $1,000,000 will pay 18% of their taxable income
5.) A national sales tax of 18% will be collected on non-essential items
6.) A list of essential items will be agreed upon after passage
7.) This bill will take effect the following fiscal year after it is passed


Sponsor: Sen. DownWithDaLeft

[True Federalist (진정한 연방 주의자)]

Ugh.

[Bono]

Ridiculous. Either have an income or a sales tax, not both.

[Јas]

Can someone help me out with the basic details on what the current income and sales tax levels are?

[I spent the winter writing songs about getting better]

Even ignoring ideology, this is a really bad bill. If I made $99k a year, I'd sure as hell try to avoid making another thousand.

What you want to do is have the tax rate apply only to income within that bracket. For example using the same numbers, if someone made $150k, they'd pay 5% on the $100k and 10% on the $50k, equaling $12,500.

[DownWithTheLeft]

Amendment to be offered by myself:

Eliminate Sections 1-4
Change Section 5 to 30%

[SPC]

Even ignoring ideology, this is a really bad bill. If I made $99k a year, I'd sure as hell try to avoid making another thousand.

Exactly my point.

BRTD, you are on a roll.

[Ebowed]

We are voting on the amendment to strike sections 1-4 and to amend section 5 to say "30%"


Nay.

[I spent the winter writing songs about getting better]

Nay. Makes a terrible bill even worse.

[Јas]

Nay

[DownWithTheLeft]

Aye

[Rob]

Nay.

[Colin]

Nay

This is an absolutely horrible taxation system that makes the current progressive system look downright cheery and easy to navigate. This bill has the worst of a flat tax, combined with the worst of the VAT, combined with the worst of a progressive system of taxation.

[DownWithTheLeft]

I am withdrawing the bill as it has no chance of passing and is just a waste of the senate's time.