FAIRTAX CALCULATOR - WHAT WILL FAIRTAX COST YOU PERSONALLY?

Do you have questions on what FairTax will cost your family? Have doubts about it's progressiveness? Worried it will place an unfair burden on the poor, the middle class, the young or the seniors?

Time to put the hype aside and stop listening to all the spin. Why not just find out exactly what FairTax will mean to your own personal bottom line? It's easy. Just go to the FairTax Calculator, input your gross income. Approximate your 8 "fair tax deductions" which represent your yearly tax free spending. Give your family size to determine your "monthly prebate". In 10 easy lines the fairtax calculator will calculate for you just what you would pay annually in FairTax considering your spending habits and number of dependents. The calculator will show your net effect annual FairTax percentage rate, the dollar amount of fairtax you would pay on your income, and the amount of your family's monthly fairtax prebate under HR 25.

No one will pay 23% net effective annual rate because of the prebate factor. Actually, many will pay well under 15%, while MOST will see a reduction in taxes over what they pay today for income tax plus 7.65% social security taxes. More importantly, by personally controlling one's own spending/savings habits, ALL will have more control over the amount of sales tax they pay, effecting what their own bottom line FairTax rate will be. ALL will see the IRS out of their personal life, and freedom and privacy restored!

Exact figures are not needed. Approximations will give you a very good picture of the Fair "sales" Tax system's effect on your personal tax burden. Then, just take these FairTax figures and compare them to your current income tax bill to the IRS, using your pay stubs showing current withholding, or last year's Income tax figures (income tax + Social Security FICA withholding). Then if you like, you can also figure a FLAT 24.65% on your annual income to determine what you would pay in tax under any of the current Flat Tax Proposals (17% income tax + 7.65% FICA social security). Isn't FairTax less complicated than the current IRS income tax? Wouldn't FairTax be less costly to you than any proposed "Flat Tax"?

Young, old, retired, unemployed, self employed, student. No matter who you are or what situation you are in, there is a good chance that your bottom line under FairTax will be smaller. How? By broadening the tax base and taxing ALL those spending money in the U.S., including legal and non legal residents, the underground economy, those earning a living through criminal activities, those currently evading taxes, those using loopholes to avoid taxes, those tourists using our services. When all pay, the burden for each of us is lowered. That's the "fair" in FairTax.

Put your doubts aside. Take the time to check out the FairTax Calculator. It's easy, it's fast, and it's totally anonymous! All hype aside, the numbers show the true story so you be the judge.

"Hide and watch."
You have no idea how funny that is.

"The paper assumes that payroll taxes will remain in place and also assumes a 15% tax rate throughout the paper. "

Actually the paper assumes no such thing - that's YOU assuming that. In fact payroll taxes and their effect are alluded to several times in the paper and show in some of the Tables. Perhaps you need to read it more closely so you can see that at one point it actually says:

"We have calculated the rate of sales tax required to abolish the employer and employee shares of the 15.3 percent Medicare and Social Security payroll tax in addition to the income tax. We find that the rate required in 1995 for that alternative tax plan would be 23 percent (tax inclusive). "

So much for your "one brief mention". Posters can read this paper for themselves and see what it says ... your spin is not needed. In fact, the paper has been linked to and posted a good many times on the threads so your breathless pretense and attempted negative spin will accomplish nothing. Most Freepers can read, you see, so you needn't tell them (and incorrectly at that) what it says - but I note you seemed fearful of providing a link as I just have. I'd urge all to read the paper thoroughly.

"Why is that significant?"

Actually it isn't ... and none of the other claims that follow about evasion, collections, and compliance have any merit either nor has any serious study ever so shown. In fact, about the only place those things show up are in things such as the gravely-flawed tax Panel report which makes all those charges (no doubt your source) based upon absolutely no factual evidence or rigorous study. Like you they merely say that is the case. Nothing in the report backs that up with any definitive data. It is merely more of the same attempted status quo justification as we see from you and other income tax trolls on these threads.

Indeed, they ARE stock criticisms as I pointed out and the Tax Panel picking up on them should be evidence of that fact. If not, where is any definitive study information from the Report the backstops such opinions (and that's all they are - opinions paid for by taxpayer funds from a bunch of job-fearing liberal staffers from, it must be noted, the Treasury Department and perhaps even with some assistance by opponents such as the Gale/Brookings bunch)?? Your attempts to add credence to such openly political efforts as the Report - which is merely faulty static analysis in any event - adds nothing pertinent.

"... The president's tax panel has not changed the bill ..."

Do you plan to make stand-up comedy your full-time profession or are you just practicing??? Clearly the "sales tax" reviewed by the Tax Panel Report is not at all the FairTax since the report eliminates about 18-20% of the tax base (as presently encompassed by both the income tax AND the different flat tax schemes. It also assumes a rate of "evasion" (without even defining what is meant by "evasion") that is as much as twice what the existing evasion rate is (according to the IRS). Nor is the Panels claim ever "substantiated" as you claim but, quite like you have done, is made it up out of whole cloth.

Actually that amount claimed by the IRS is already taken into consideration by the FairTax bill - the real one, not the Potemkin village version devised by the Panel. It's interesting to note that you, too, throw around words such as "evasion" without attempting to define what is meant. Most people think of the word as meaning something like "... purposefully avoid the payment of federal, state, or local taxes ..." by a taxpayer and in the FairTax context the point of evasion would have to be at the time of retail purchase. When the purchaser pays and receives the item purchases and the required receipt, evasion is no longer a possibility so pretending it is from 15-30% (as the Panel and you PRETEND) is merely "stuff and nonsense".

"... the FairTax bill wrongly defines the base and ignores evasion ...>"

Both a facetious misstatement and untrue to boot. The FairTax covers the same government output base as does the income tax and the various flat tax schemes. What you should have said to be accurate is that the Panel attempts to reduce the FairTax base by carving out something like 20% of the amount presently in the income tax base. Of course, that's merely another of the joint misstatements by you and the Panel.

Even more humorous to note is that the pretended-evil "largest special interest group" that you try to play "pin the tail on the donkey" with is not even in the top ten of those "big spenders" - but of course you'd rather spew rather than provide valid information. False charge and innuendo is the game with folk like you ... and unremittingly so.

"... it does not treat all money equally ..."

Sorry to burst our little balloon, but it does and while not everyone benefits equally most taxpayers will indeed be better off under the FairTax since they will usually have increased purchasing power when compared to the income tax. Many comparative purchasing price studies on these threads have shown that - with some even for those who are older with retirement savings. Your demagoguery stinks.

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