on #118
Ha! I think a little bit dripped on your shirt... better get that (drool). I think you asked about the rebates earlier?
That is one of the aspects of the bill I absolutely LOVE!!
no bothering with write off's; no bitching about how the poor folks pay too much. the only thing congress would have to figure every year is the rate of tax and the dollar amount of rebate. really a stroke of genious.
the only thing congress would have to figure every year is the rate of tax and the dollar amount of rebate. really a stroke of genious.
Actually, under the Fair Tax legislation, the only thing Congress needs to worry about in the future is the tax rate. The FCA rebate is set as the tax rate times the HHS measure of poverty level as it has become entrenched and bound by political and legal stone through usage in competing programs throughout state and federal government.
Where the tax rate goes, with more voters visibly participating in paying the tax up front at the retail counter when the purchase their goodies, I suspect Congress Critter's main concern will be answering to irrate voters demanding the decrease of the tax rate as many learn, for the first time, the real tax burden that federal government places on the nation for the largess it passes around so indiscriminately.
"no bothering with write off's; no bitching about how the poor folks pay too much. the only thing congress would have to figure every year is the rate of tax and the dollar amount of rebate. really a stroke of genious."
I agree. The rebate is very ingenious. So much simpler than picking and choosing exempt items.