[The Raven]

Would we still have the 15% SS tax, medicare tax, etc??

[ancient_geezer]

Would we still have the 15% SS tax, medicare tax, etc??

No, all payroll taxes are repealed, along with all income & gift/estate taxes.

You would receive you full gross pay with no deduction for federal income tax or FICA.

[phil_will1]

"Would we still have the 15% SS tax, medicare tax, etc??"

No, the FairTax replaces all those, as the Ancient one pointed out. However, it gets even better. For a number of reasons, we anticipate that states will drop their income taxes and conform their tax systems to the FairTax. Perhaps the biggest reason is that every state with an income tax piggy-backs that system onto the federal system. IOW, the starting point for every state income tax form is the taxable income line from the federal form. If individuals and corporations are no longer filing federal income taxes, any state wishing to continue levying on incomes would have to build an entire income tax system from the ground up - a daunting task for a state to undertake.

For that reason, among others, it is very reasonable to expect that shortly after the FairTax passes, Americans would indeed have a paycheck in which their gross and net are equal - subject to voluntary deductions such as health insurance, union dues, etc.

[SittinYonder]

ancient geezer is right: the only stuff removed from your paycheck will be healthcare and other withholdings that you elect and, if your state has one, the state income tax.