The "23% tax inclusive" rate is a first year only, fraudulent teaser rate and used only as a dangling carrot.
The "23% tax inclusive" rate is a first year only, fraudulent teaser rate and used only as a dangling carrot.What's funny, too, is something I just realized. The yearly OASDI rate and the Medicare rate are set by the Social Security Administration but the general revenue rate is a static 14.91%. But 14.91% of what? It's 14.91% tax inclusive of the gross payments. If the OASDI and Medicare rates go up then the gross payment goes up which mean people are paying a higher amount of general revenue tax. It's a general revenue tax increase (even thought the rate is the same!). So, because these clowns want to deceive the public with a tax inclusive sales tax rate, we have the SSA raising not just the OASDI and Medicare taxes, but the general revenue taxes also. All with out a vote by our representatives.
FairTax HistoryIn 1994 three Houston businessmen were meeting together for lunch. As was common, they began commiserating about the ridiculousness of the Federal Income tax code. But at this particular lunch, they decided to do something about it and each pledged $1.5 Million as seed money to hire the best tax experts in the country to identify the faults with the current system, to determine what American citizens would like to see in tax reform, and then to design the best system of taxation. With their initial infusion of $4.5 Million, the three went on to raise an additional $17 Million. That money funded focus groups with citizens around the country and studies with nationally prominent experts in tax policy. Some of the experts funded include:
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"What do you want it to equal?"