The general premise of the Fair Tax is that since Companies currently embed about 22% into their product prices to cover taxes they will through competition lower the prices of products about that much shortly after the Fair Tax goes into effect so in the end prices will come down and with the tax you will end up not paying much more than you do right now.More unfounded Fairtax BS parroted.
they will through competition lower the prices of products about that much shortly after the Fair Tax goes into effect so in the end prices will come down and with the tax you will end up not paying much more than you do right now
Even if that was true, it explains replacing the 22% business taxes. However, it doesn't explain how the personal income, social security, medicare, self-employment, gift, all the other taxes AND the pre-bates are paid for with a 23% rate... on reduced prices.
Do you think all the talk of 22% embedded taxes is a Fairtax lie, or do you think the rate to replace all the taxes is the lie...or maybe the reduced prices.
If there's anything "embedded", its lies in selling the plan.
I don’t think any of it is a lie. The Fair Tax would be a far better way to collect the necessary revenue to run our county than the income tax. That is my belief.