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September 21, 2007

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We need to stop income taxes and change to fairtax!!!!!!

I really love Marotta Asset Managment's idea/tips/hints...

So what do these people EXPECT those without wealth to do? If you're a low-wage childless employee, there's not much you CAN do to adjust their affairs according to the tax code.

And the FairTax would redistribute income upward like you wouldn't believe, which is great if you're into that sort of thing.

Minimum Wage, I've not seen one shred of evidence that the FairTax would be regressive. Maybe you can explain?

The redistribution isn't based specifically on income, it's based on whether or not you own your home.

Since I have no hope of ever buying a home, I would have to pay tax up the wazoo the rest of my life.

My calculations (based on existing home purchase being tax-exempt, and operating costs (utilities, maintenance, cap improvements, rent, etc) rising 2-3% per year suggest that when a homeowner and a renter have equal housing consumption, a lifetime renter will pay about five times more tax on housing consumption than a homeowner.

So the redistribution isn't from lower to higher incomes, it's from renters to homeowners.

Should you buy or rent NOW? (Apologies to Verizon.)

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