Replies

Lets see. I make $100,000 today but my take home pay is $80,000. Tomorrow the FairTax is implemented and my take home pay is $80,000.
The difference is and I am worse off how?
The difference is, before, your $80,000 was after taxes...After, your $80,000 is yet to be taxed.

256 posted on 08/28/2007 8:47:33 PM PDT by lewislynn (What does the global warming movement and the Fairtax movement have in common? Disinformation)

The difference is, before, your $80,000 was after taxes...After, your $80,000 is yet to be taxed.

Yes and no.

Today my salary is $100,000 and I get $80,000 after taxes. I then take that $80K and purchase products. The price of these products contain @ 23% embedded taxes. So I get hit on the income and FICA taxes before I get my money, and then when I spend it I pay the embedded taxes.

With the FairTax my salary is $80,000 and no income or FICA taxes are taken out. When I spend the money I pay a 23% NRST.

Seems a better deal to me.