Monday, January 7, 2008

CPA'S: TWO DIFFERENT OPINIONS PLUS: "DID I HEAR WHAT I THOUGHT I HEARD?

I received a comment on one of my older blogs and also read a letter from an enthusiastic new FairTax Volunteer. I would like to share both of these letters with you. They are both CPA's with totally different views. I was afraid the comment from Anonymous would not be seen and I do appreciate him reading my past blogs. Here it is:

Anonymous has left a new comment on my post "QUESTIONS ABOUT LAWYERS AND ACCOUNTANTS":

"Happy to give up" the work going through the 60000+ tax code? Please, it's because of our speicialization in being able to do that, that we have careers in the first place. Secondly - helping our clients invest wisely is the work of their financial planners not their accountants. You've got to be kidding me, the fair tax will cripple the accounting world overnight and put literally 10's of thousands of people on the unemployment roles - it's not a good idea if you want to have an economy that maintains a low unemployment.


And below is the letter from the new FairTax Volunteer to the FairTax organization:

Ms. Colburn,
I got your contact information from FairTax.org. I am interested in supporting the FairTax initiative with my time and energy. I am a CPA with a young family, living in Richmond.
I am comfortable speaking with groups of individuals, and am generally persuasive and effective in hostile political company. I don't do anger or rhetorical flame. I will be contacting my representatives soon to state my support for the Fairtax, and may seek an opportunity to meet with them. I've got a letter to the editor of the Times-Dispatch waiting to go.
Please let me know what local organization exists which I may participate in.
Thanks,
Tim Fite

One other thing, totally off the subject: I have been watching the presidential candidates' debates and the forums and such afterwards. I heard Fred Thompson talking about his tax plan: He says he favors a flat tax. Everybody making under $100,000 would be in the 10% bracket and everybody over the $100,000 would be in the 25% tax bracket. Now how cruel is that?.........................................

1 comment:

MARK said...

How cruel is a flat tax system?

Compared to what?

Fairtax does admit that all health care is taxed. But what they dont explain, is that means all nursing home care is taxed.

All cancer treatments -- taxed. All surgery -- taxed.

All hip replacements - dialysis - heart bypasses -- taxed.

In fact, FT plans on taxing people who get health care 460 billion -- BILLION -- in "sales" taxes.

Now, how cruel is that to the elderly -- who get by far the most health care.

Plus -- fairtax will tax RENT. That's right - RENT. All renters will pay 30-40% more, for their RENT. How cruel is that?

Now, the fairtax people say, in essense -- don't worry folks, no one really pays a tax -- prices will go DOWN so much, its "a wash" as Neal Boortz has written.

Wash? Try a flood - of taxes. How will rent go down 30-40?

Landlords will save less than anyone on FT, their "embedded" tax is minisule -- since the big embedded tax is FICA. An apartment complex might pull in 2 million a year, with as little as 12,000 in FICA, for the office staff.

So the apartment complex could only lower their rent, based on that saving, less than 1/2 of 1 percent.

But the fairtax theory is -- the rent could come down in price, as much as the fairtax tax would be.

Utter nonsense.