did you study the plan? 

--- Deri James <[log in to unmask]> wrote:

> On Friday 23 March 2007 02:31, ken barber wrote:
> > www.fairtax.org
> > the only tax plan that frees those under the
> poverty
> > level of any tax.
> > read it before you argue.
> >
> 
> The old indirect v. direct tax argument. :-) 
> 
> The site says:-
> 
> "The FairTax taxes us only on what we choose to
> spend, not on what we earn. It 
> does not raise any more or less revenue; it is
> designed to be revenue 
> neutral."
> 
> So our own David Beckham (a soccer player) who will
> be earning $1m a week 
> (playing for LA Galaxy) for the next 5 years ($250m
> total) would only be 
> taxed on what he spends in the USA. (Don't forget
> his actual income will be 
> several times higher than this with endorsements,
> shirt sales, etc., but lets 
> just stick with his Salary).
> 
> In the UK he would be paying 40% of this income in
> direct tax ($100m). It is 
> very unlikely anywhere near this amount would be
> recouped in a Sales Tax over 
> 5 years, so, since "FairTax" is designed to be
> revenue neutral the rest of 
> Americans would be paying the difference. Also, bear
> in mind that a lot of 
> the Beckhams spending may well be in other countries
> outside the USA.
> 
> After 5 years it is unlikely that David Beckham will
> remain in the USA, so all 
> that potential Sales Tax for the next 40 years will
> be lost.
> 
> I am sure that Mr Beckham would be in favour of
> "FairTax" (along with all the 
> other one percent of Americans who, together, own
> 38% of the countries wealth 
> [1]). In a truly "Fair" tax system, that 1 percent
> should be contributing 38% 
> of the nations tax burden.
> 
> Cheers
> 
> Deri
> 
> [1]
>
<http://multinationalmonitor.org/mm2003/03may/may03interviewswolff.html>
> 
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