HB 2112, also known as the Fair Tax Act of 2008, is co-sponsored by 15 representatives, though the only other one from southwest Missouri, other than Emery, is Rep. Steve Sater, R-Cassville. Among the provisions of the legislation:
3. For all taxable years beginning on or after January 1, 2010, no tax shall be imposed upon any income derived from any source within this state, and all revenues lost as a result of the prohibition on the taxation of income under this section shall be replaced by the levy and imposition of a tax upon all use or consumption of taxable property or services in this state.4. No later than January 1, 2009, the department of revenue shall submit a report to the general assembly recommending the repeal of any provision of law imposing a tax on any income derived from any source within this state, the repeal and reenactment of any provision of law relating to sales and use tax to comply with this section, and the enactment of any provision of law relating to implementing the provisions of this section.
2 comments:
This is not a FAIR tax -it is the most regressive tax there is. If you are a wealthy person, on in your years, without children to feed, clothe, send to school - then your going to love this. If you have a family that actually has needs - forget it. Oh yeah, most of these "fair tax systems" have a rebate at the end - of course you have to file a return to get that. And then there has to be some agency out there to administer it, and then there is the whole collection thing - because everyone knows a business has never been shut down because it didn't pay the sales tax it collected. Are you ready to pay sales tax everytime you go to the dentist, doctor, vet???
Missouri has done a great job with their income tax -it's simple - based off Federal AGI - and they've divided spouses income -negating the whole marriage tax penalty for years. It's also one of the lowest around.
Sure, it's obvious to most that the federal system truly needs simplified - this is not the answer.
I personally find this ludicrous.
As if his attacks on public education were not enough.
It's too bad the first poster is so clueless about the Fair Tax.
1. Rich people spend more money and will pay more taxes - just like they do now.
2. Family's will get a "prebate" of sales taxes every month under the plan. How much depends on how much they make. The lowest income get the most.
3. Missouri has not done a good job with income tax. It's has lost a number of companies and their jobs because of it.
Public education isn't getting the job done. If it were, you would be for the fair tax.
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