Did you know that hidden income taxes and the cost of complying with them currently make up 20 percent or more percent of all retail prices? It's true. According to Dr. Dale Jorgenson of Harvard University, hidden income taxes are passed on to the consumer in the form of higher prices - from an average 22 percent on goods to an average 25 percent on services - for everything you buy. If competition does not allow prices to rise, corporations lower labor costs, again hurting those who can least afford to lose their jobs. Finally, if prices are as high as competition allows and labor costs are as low as practical, profits/dividends to shareholders are driven down, thereby hurting retirement savings for moms-and-pops and pension funds invested in Corporate America.
With the FairTax, the sham of corporate taxation ends, competition drives prices down, more people in America have jobs, and retirement/pension funds see improved performance.
Did you know that hidden income taxes and the cost of complying with them currently make up 20 percent or more percent of all retail prices? Actually I wish you could get your numbers straight. First they say $300 billion, which is already on the high side, then they go to this ridiculous 20% number, which is a magnitude higher than the 300 billion number. On top of that you won't even be saving that 300 billion because there will be similar compliance costs with the sales tax regardless of what the nutty professors say. The NRST/Fari Tax hype is based mostly on fraudlant analysis.
Additionally, foreign goods are forced to be sold with the entire tax burden on them that we otherwise put into our own products.
It is, in effect, a tariff that truly keeps items competitive as they should be.