Thank you for recognizing that the FairTax is not revenue neutral. It is a tax increase.
Thank you for recognizing that the FairTax is not revenue neutral. It is a tax increase.
It is as written, and revenue neutality will require a reduction in rate during Ways & Means Committee markup. I definitely grant that. The rate to be neutral with the temporary Bush tax reforms should be around 19%.
Interestingly most opponents would disagree with you saying that the FairTax does not collect enough and the rate is too low.
Personally I recognize the rate as too high, and push for the lower rate since the legislation is to be revenue neutral by design and plan of its proponents and authors.