Consumption Est. 2007
SpendingEst. 2007
FairTaxPurchase of New Homes $ 394 $ 118Improvements to Single-Family Homes $ 176 $ 53Brokers Commissions on Housing $ 121 $ 36Taxable Home Mortgage Interest $ 128 $ 38Taxable Personal Interest $ 155 $ 46Final consumption expenditures (non-wage)
of non-profit institutions - Religious and welfare activities $ 62 $ 19Capital Spending by Non-Profits (net of capital) $ 58 $ 17State and Local Government Consumption Spending $ 1,093 $ 326Federal Government Government Consumption Spending $ 916 $ 274
Note the $38 billion FairTax on mortgage interest and $36 billion FairTax on brokers commissions (so much for tax-free home purchases). Also note the $36 billion total FairTax on non-profits (I guess that ends that debate - pigdog loses another one).
Note the $38 billion FairTax on mortgage interestAnd $46 billion ON personal interest (credit cards, car loans etc.)...so much for the 25% reduction in interest rates.