Replies

Just how much do you think the corporate tax and compliance costs are?

I am an S-corp, pay ZERO corporate tax. I pay my book keeper $50K per year, plus another $2500 for a CPA to file my taxes. My gross receipts are $7.5 million. I still have to pay my book keeper just to pay the 200 plus bills each month. My savings from th fair tax system at most would be $2500 (but I still have filings). Regardless, I still need someone to tell me where I am going get the other $1.7225 million dollars in savings so I can keep the price of my homes the same. Compliance costs/Corp. Taxes just ain't that big of a deal to me. The Fair Tax will kill my business, I know this for a fact.

The Fair Tax will kill my business, I know this for a fact.

These talking about the home market need to remember that people would be paying tax on a portion of the interest, too. So home buyers would have to finance their taxes and then pay taxes in the interest they are charged to finance those taxes. Not technically double taxation, but the effect is the same.

I don't know if you pay employer's share of payroll taxes - that will go away. And your self employment tax goes away too. You may use those funds for a productive purpose - giving a raise, reducing your prices, investing in a new machine?

Every business with employees will realize this savings - specifically any business you buy from... and every business they buy from.

That's not all, of course.

Vendors will be able sell to you for less, subs will be able to charge less, and any profits you make are all yours. Purchasing power of your personal dollar remains constant.

It will be faster/easier to save for a home and easier to qualify with lower rates.

I sense a lot of fear in your posts about your business - I understand that - you have to be able to manage the change - like any change. I know it will be a lot easier to qualify someone for a loan and I'm happy about that -