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To: Beagle8U

The only income they make is social security. At least that's what my grandparents make. Had they not saved over the years, they'd be screwed right now under the CURRENT POLICY.

My Granparents pay property tax, auto insurance, medical insurance payments, pharmacy bills, Dr bills etc...

They are extremely frugal. That's how they have income now to live and survive. They grow a good portion of their own food. They do not spend unnecessarily as I do. If they had 2K a year in prebate, they'd pay for their insurance costs alone.

Thier biggest expense is paying for their medical supplements.


100 posted on 05/05/2006 8:02:24 PM PDT by Imgr8t
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To: Imgr8t
You should keep in mind that your Grandparent's auto insurance, medical insurance, pharmacy bills, Dr. Bills and most everything else they buy will be taxed at the FairTax rate (nominally 30%). That means the prices of these goods and services will increase. If they had $2K in prebate, 100% of it would go to pay the FairTax on their first $6,667 of spending.

Since their state and locality would also have to pay FairTax, they too would need to raise their "prices" (state and local taxes). That would likely mean an increase in their property taxes as well.

118 posted on 05/05/2006 8:22:41 PM PDT by Dimples
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