“Mr. Bartlett was deputy assistant secretary of the Treasury for economic policy from 1988 to 1993.”
Thats why. When you carry water for the system, you tend to defend the system.
Once the imbedded taxes are wrung out of the goods and services, that 1 billion tank will cost the govt 777mil[or so] then the 23% is added for a cost of 1 bil.
[Don’t flog me for the math...its still dark here...]
Point is that this guy doesn’t have a clue and doesn’t want others to have one either.
If people are keeping 100% of their paychecks (in other words the people keep their income and payroll taxes currently being removed from their paychecks), then their employers do NOT see a large reduction in their costs, and there is NO large reduction in prices before tax. Maybe 7-8% reduction for domestic items with a lot of labor in them.
When you have an 8% price reduction, it brings the $100 item to $92. But the 30% Fairtax brings the price up to about $120 (VS $100 now). I think the FairTax (for reasons stated above and in those threads) is too low and would really be at least 36% to start and likely quite a bit higher. I think it would start to approach mid-40% range before they added back in the emergency income tax on “rich” people making over $75k or so.