Fair Tax Personal Calculator

[witchypooy]

Like the Boortz book? Intrigued with the FairTax HR25?
Try the Fair Tax Personal Calculator at www.pafairtax.org/calc.php

It will calculate what you will pay in FairTax if your spending choices remain about the same, using all the "tax free" spending deductions that FairTax allows under HR 25. Put in a few figures describing your current spending/savings habits. Only dollar figures are asked for and your family size for the rebate calculation. No private info, no info on where you work etc, it's totally anonymous.

Then take this figure and compare it to your current income tax paid in 2004 PLUS your FICA paid in 2004. Remember FairTax eliminates both income withholding and payroll (FICA) taxes and replaces both with the 23% inclusive sales tax. To make an honest comparison therefore, any income tax plan including any Flat Tax proposed, must have the 7.65% FICA added to it to be compared to the 23% FairTax rate. This means the most popular 19% Flat Tax must have 7.65% FICA which will remain in place, added to its rate to be charged to the taxpayers, for a grand total of 26.65% inclusive for the first year of HR 1040 The Flat Tax. Compare this to the 23% inclusive FairTax rate. Get the picture?

Of course the Flat tax has a standard deduction for tax free spending similar to the FairTax rebate system. The Flat Tax proposed also gives a deduction for gifts to charities, but limited to only those charities approved by the Government. Finally, the Flat Tax does give a deduction on taxes paid on the interest portion of your mortgage.

But since FairTax gives you tax free giving to any and all charities or persons, regardless of who or what they are, and gives you mortgage and other loan payments tax free for both principal and interest, and gives you totally tax free savings and investments at any amount level YOU choose, and gives you tax free education payments cradle to grave, and gives you totally tax free state tax payments of any and all kinds, and gives you tax free "used" purchases, most of you will see a tax savings under FairTax. The tax savings you see will be made up in the sales taxes paid by the 24 million illegal aliens, 48 million tourists, and $1 trillion underground economy, all of which exist today totally tax free.

Check it out. I think you will see that about 90% of all Americans will benefit economically under FairTax. However, 100% of all Americans will benefit by FairTax reestablishing the freedom and liberty to control your own life and your own destiny.

witchypooy
pa state director - fairtax
info@pafairtax.org

[pigdog]

Spend some quaality research time on the bill and the FairTax website and I think you'll see the benefits for most people under the FairTax.

[pigdog]

Really? Why do you feel that way? There's a very good chance that isn't the case.

[Buckeye Battle Cry]

Think about what the dems can do with the Fair Tax once they regain control on the Hill. It's a VAT just waiting to happen.

[pigdog]

To overturn a tax law of the land that will be very popular with the people - as the FairTax will be - it would be very difficult to make it into a VAT.

Remember, there are plenty of bad experiances with VATs to point to and there would be a lot of opposition ... even within the Decocratic party.

[tarheelswamprat]

nobody is lieing to me. i am just reading the law. i intend to spend every nickel of my social security payments and i will therefore be taxed at approx 23% on all of it vice the current 10% on a max of half of it. i would have liked this law when i was a wageearner but i hate it now that i am retired and ready to draw my social security.

Your concern is understandable. However, there is a mitigating provision that will offset this factor. It's called the "pre-bate". If you go to the Fair Tax website and read up a bit on that provision I believe you'll understand that it will more than compensate for and offset the effects of those changes which understandably worry you.