[FreedomCalls]

you're tied to the income tax b/c you don't pay any, huh?

I told you earlier I pay approx 25% of my total income out in income taxes. Total federal income tax (not including SS payroll taxes or federal excise taxes) divided by annual gross income.

[Principled]

I told you earlier I pay approx 25% of my total income out in income taxes.

Apologies for missing that, FC. And so it is clear that you would pay less under the NRST, as its maximum possible rate is 23%.

[ancient_geezer]

I told you earlier I pay approx 25% of my total income out in income taxes. Total federal income tax (not including SS payroll taxes or federal excise taxes) divided by annual gross income.

Better add those SS & Medicare payroll taxes in, as HR25 repeals all federal income and payroll taxes. Replacing them with one single retail sales tax.

That means both individual and corporate side of all those taxes are gone right along with the IRS that administers them and the direct and indirect costs attendant with complying with that onerous tax system.

H.R.25

Fair Tax Act of 2003 (Introduced in House)
http://thomas.loc.gov/cgi-bin/query/z?c108:H.R.25:

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*** Snip ***

TITLE I--REPEAL OF THE INCOME TAX, PAYROLL TAXES, AND ESTATE AND GIFT TAXES

• SEC. 101. INCOME TAXES REPEALED.

• SEC. 102. PAYROLL TAXES REPEALED.

• SEC. 103. ESTATE AND GIFT TAXES REPEALED.

• SEC. 104. CONFORMING AMENDMENTS; EFFECTIVE DATE.

TITLE II--SALES TAX ENACTED

• SEC. 201. SALES TAX.

*** Snip ***