It is quite certainly possible to determine the amount paid either under the income tax or under the FairTax. With the income tax, the effective tax rate is presented in some detain by the CBO comprehensive household income information. With the FairTax, the marginal rate is know (specified in the bill in fact) as is the prebate information and the things that are not taxed (which are far more than just "used things"). Knowing all that about the FairTax it is a matter of simple arithmetic to determine the effective tax rate for a given income amount ... just as it is to determine it under the income tax.
You income tax idjits don't like that, of course, since it shows the income tax in an (exceedingly) poor light by benefiting almost every taxpayer under the FairTax. Your crowd is just driven nutso boffo by that.
Oh, one more thing, Looey, under the FairTax people do not pay "30%" on anything - that's a mythical marginal tax rate that isn't even true. They will pay much less as an effective tax rate which is "where the rubber meets the road" since it's what you end up paying the government out of your own pocket.
But I thought you knew that.
If you buy a $1,000 item, you will see on the receipt $298.70 of tax added, and a total of $1,298.70 (if the 23% inclusive rate were correct, and it is much too low). This is a "30% tax" and it will be seen on each and every receipt.
And there is nothing "mythical" about the marginal rate at all.
Actually you are confused. Our crowd thinks you are nutso boffo when you say that.
Oh, one more thing, Looey, under the FairTax people do not pay "30%" on anything - that's a mythical marginal tax rate that isn't even true.Yea the AFFT website is full of myths but this isn't one of them.
I know the FairTax rate is 23 percent when compared to current income and Social Security rate quotes. What is the rate of the sales tax at the retail counter? 30 percent. This issue is often confusing, so we explain more here....