Oh ... and a portion of that $200 B compliance cost is FairTaxable goods and services currently counted in the so-called "revenue neutral" tax base. The elimination of that portion of the base necessitates a higher FairTax rate to maintain "revenue netrality."Hence the 23% first year only teaser rate.
Yes, and only one of several reasons the advertised rate is too low:
- unacknowledged increases in state and local taxes to pay FairTax... to name a few others.
- entitlement autopilot increases
- government-taxes-itself shell game
- no accounting for evasion or avoidance
- predicted but unacknowledged decline in total personal consumption
- ...