[Toddsterpatriot]

Maybe if we had the value of all goods and services produced in a recent year and looked at corporate taxes collected as well as Social Security taxes collected, we could see what percentage of taxes are included? We could even add a few percent for compliance costs.

[groanup]

It works like this:

Purchase of an item for 100 dollars.

Under current tax law you have to earn 133.33 dollars in a 25% bracket to have $100 left over.

Under the proposed HR. 25 you have to earn $130 to make the same purchase. (100 x 1.3).

So already you are ahead.

Then adjust for price decreases of between 10 and 20 per cent, low compliance expense, the prebate and suddenly one is very much ahead of where he was under the IT.

And please notice that the supply and demand of money hasn't changed much at all. So despite what some FairTax deniers say we won't have instant inflation.

[Principled]

Maybe if we had the value of all goods and services produced in a recent year and looked at corporate taxes collected as well as Social Security taxes collected, we could see what percentage of taxes are included?

Wow, what a novel idea. Why don't you do that?