To: woodbeez
You forget that Bob the Baker pays income tax on his profit from sales. Businessess pay no taxes under the Fairtax. That is his main source of savings that he would be able to pass on to his customers.His employees get their whole paychecks including FICA and payroll, but the owner of the business doesn't get to keep his whole earnings and is expected to give up his income tax savings? This would not be fair and it would mean wage earners take-home income would rise significantly as related to the business owner. That doesn't sound "Fair".
31 posted on
08/22/2005 8:49:39 PM PDT by
RobFromGa
(Afghanistan, Iraq, Iran-- what are we waiting for?)
To: RobFromGa
You say:
"His employees get their whole paychecks including FICA and payroll, but the owner of the business doesn't get to keep his whole earnings and is expected to give up his income tax savings?"
You didn't read the book or do much research. The owner of the business DOES get to keep everything he makes.
41 posted on
08/22/2005 9:09:30 PM PDT by
woodbeez
To: RobFromGa
but the owner of the business doesn't get to keep his whole earnings and is expected to give up his income tax savings? Obviously the owner can set prices as high as he wants, but competition will drive prices down among any businesses that wish to stay open (just as it does now).
68 posted on
08/23/2005 6:30:24 AM PDT by
Sloth
(History's greatest monsters: Hitler, Stalin, Mao & Durbin)
To: RobFromGa
His employees get their whole paychecks including FICA and payroll, but the owner of the business doesn't get to keep his whole earnings and is expected to give up his income tax savings? This would not be fair and it would mean wage earners take-home income would rise significantly as related to the business owner. That doesn't sound "Fair". I don't think you understand how payroll taxes work...and what effect they have on the employer and employee. Need to read further down the thread though, maybe I'm missing your point. ??
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