Lewis,
I refuse to believe you aren't smart enough to have seen the correct point, but you are either very confused or your sarcasm is very subtle.
The Federal government is ALREADY paying a 7.65% tax on their employees' salaries. So the ADDITIONAL cost of the FairTax is not 30%, but only 21%. Because it REPLACES the SS/M tax the government was paying before.
The Federal government is ALREADY paying a 7.65% tax on their employees' salaries. So the ADDITIONAL cost of the FairTax is not 30%, but only 21%. Because it REPLACES the SS/M tax the government was paying before.You are the one who added it into the wage. The employer half is no different than that other laundry list of (employer paid) employee benefits subject to the 30% tax. Where is it written the employee won't also receive his other half of FICA after a Fairtax?
Section 904 paragraphs (d) and (e) require that the equivalent of 15.3% (not 7.65%) of the SS wage base and self employment income be confiscated through the sales tax by determining the sales tax rates every year...Are you saying employers should retain the 7.65% and that consumers should take an additional hit through higher rates and not include the 7.65% in their promised 100% paycheck? You call that a fair tax? I think you'll lose that battle.
So using the same fictitious government employee do you think the wage base for SS/m calculations would be $50,000 minus 15.3% or $53,825 minus 15.3%? I refuse to believe you aren't smart enough to have seen the correct point, but you are either very confused or your sarcasm is very subtle.
I beleive YOU are the one who doesn't see the point and my sarcasm is seldom subtle.
Your first observation about not being smart enough is the operative one with this poster ...