To: K-oneTexas
Thanks for the info - this shows my point. The "annual consumption allowance" for a couple with 2 children is shown as $27,380. The FairTax on $27,380 worth of consumption would be $27,380 x 29.87% (the exclusive rate), or $8,178. But the prebate for this family would only be $6,297. Why? Because the FairTax calculates the "prebate" by multiplying the "annual consumption allowance" by the inclusive rate, $27,380 x 23% = $6,297.
Under the FairTax this family could not consume $27,380 worth of goods and services without paying net FairTax.
To: Your Nightmare
Trying your best this morning to cause confusion?
While you are sitting at your altar of the Income tax at work realize this:
“You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time.”
— Abraham Lincoln
Today’s 22% federal EMBEDDED taxes in each product and service purchased is INCLUSIVE. The FairTax replaces these INCLUSIVE EMBEDDED federal taxes. Therefore, the consumption allowance is treated inclusively!
Keep trying to stir up confusion!
And keep failing!
39 posted on
11/27/2007 9:03:10 AM PST by
Hostage
(Fred Thompson got it wrong on taxes.)
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