I might have spoken too, but the only question I found on Georgia ballots concerned the property tax versus retail tax. Perhaps there were some counties that had the fair tax on it, but I would like to see the exact question if there was.
That said, I think the nrst would be very helpful to new construction - lower interest rates, faster savings, higher purchasing power for buyers
I still don't see how interest rates go down at the same time you are hyping a growing economy. Everytime the economy grows at a decent pace, the Feds raise rates. How does the sales tax overcome this?
BTW you never argued against my example showing how one of your potential customers would be more able to buy one of your homes under the nrst than the income tax. Is that because you agreed?
Nope, can't say I agree. A tax system that collects the same amount of money does nothing to increase buying power on average. All it does it shifts who pays and how it is paid. On average everyone will come out the same. In practice, there will be many who benefit, and many who don't. Reduced compliance cost will be good, but not nearly to the extent claimed. And making our exports more competitve will be a benefit at the expense of adding costs to imports.
The sales tax removes a portion of expenses from lenders - tax costs. That portion is easy to identify by looking at similar debt instruments that are sold as "tax free".
The difference is about 25%, or at today's rates, bringing a conforming 30 yr conventional down from appx 6 3/8 to 4 3/4.
Again, the reason for the reduction in interest rates is independent of the economy's performance. Generally, tax-free rates are appx 25% less.
A tax system that collects the same amount of money does nothing to increase buying power on average.
Your statement is not correct. I think you mean to say,
A tax system that collects the same amount of money does nothing to increase buying power on aggregate.
That would be ok - but since the tax base is broader, anyone who is LEGAL in today's income tax system would have more buying power under the nrst. But the aggregate - the total that can be purchased, will remain stable. THose who are LEGAL today will be able to buy more. Those who are ILLEGAL in today's system will be able to buy less.
On average everyone will come out the same.
No, today's LEGAL particpants in the income tax will come out better. The millions of illegals will begin taking some of the burden off us legal folks. The unknown number people who currently evade taxes by underreporting or by earning cash illegally will help take some of the burden off us legal folks. This is why those who currently - and quite easily - evaide the income payroll tax system are against the nrst... they'll have to pay.
In practice, there will be many who benefit, and many who don't.
Can you construct an example of someone who won't benefit? I've asked you to do this before but you didn't.
And making our exports more competitve will be a benefit at the expense of adding costs to imports.
Imports will have the nrst added to them, just like domestic stuff. However, also like domestic stuff, the prices of imports will not go up by the cost of the nrst added. Foreign importers have a very high profit margin here. They will either reduce their profit margin to put them in the same relative position to US prices as they do today, or they can lose market share.
And, you have touched on one of the reasons that there will be so many companies who choose to come to the US to manufacture. That'll help our manufacturing base - which has shrunk over 50% as pct of GDP in the last 50 years or so.