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To: Bigun
Unless congress acts to change it every year that is exactly what I am saying. The portion of that 23% required to fund those things absolutely WILL change every year and without any need for the congress to act.
You and pigdog are wrong. The overall rate changes every year based on the OASDI and HI rate the SSA determines. It doesn't require a vote by Congress.


"In the calendar year 2007, the rate of tax is 23 percent of the gross payments for the taxable property or service. For years after the calendar year 2007, the rate of tax is the combined Federal tax rate percentage of the gross payments for the taxable property or service. The combined Federal tax rate percentage is the sum of the general revenue rate, and the old-age, survivors and disability insurance rate, and the hospital insurance rate."


I guess, at this point, I shouldn't be so shocked that the FairTax's biggest supporters are completely ignorant of it's details... but still...
398 posted on 10/19/2006 8:15:39 AM PDT by Your Nightmare
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To: Your Nightmare
"... I shouldn't be so shocked that the FairTax's biggest supporters are completely ignorant of it's details... "

Perhaps you shouldn't - especially in view of the fact that we AREN'T wrong as was clearly explained to you in posts #334, 351, and 368.

423 posted on 10/19/2006 1:20:15 PM PDT by pigdog
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