Yeah I read them and they do seem clear that for prices to drop, the employee pay would have to drop by a significant amount. And for most people they would end up about where they started. And by being relatively more frugal you would come out ahead, and by being more of a spendaholic you would come out behind.
That makes sense to me, and it jives (:-) with my previous experience and common sense. And if we could find a way to transition older people paying a lower sales tax to make up for their lost pruchasing power, it could probably be an interesting plan.
That makes sense to me, and it jives (:-) with my previous experience and common sense. And if we could find a way to transition older people paying a lower sales tax to make up for their lost pruchasing power, it could probably be an interesting plan.The bill does specify that Social Security payments will include the FairTax costs (of course, it doesn't specify where the money will come from), but any after-tax savings people have will be taxed again. This is one of the reasons economists consider the transition to a sales tax a tax on current wealth.
Employee wages will go up, not down. Perhaps you should do more research.