In plain english the FairTax rate is 29.87% and no, that is not what would be printed on a sales receipt. By law, the sales receipt would have 23% printed on it.
Weird. -- You claim that a $100 receipt would show a 23% tax as $30 ???
I agree that it is mind boggling that Fair Tax supporters are trying to promote the Act by using a BS "model" to misquote the actual taxes paid.
The Fair Tax idea sells itself without playing games over percentages.
As I see it, the actual tax percentage paid would have to be printed on all sales receipts in any case.
That percentage would be 30%, -- dispite what you imagine.
Weird. -- You claim that a $100 receipt would show a 23% tax as $30 ???See post # 915 for the specific language from the bill. It would require that the 23% rate be printed on receipts even though the customer paid a 29.87% markup on his purchase.