Name any other sales tax that is calculated as tax inclusive.
The FT org says the reason for doing this is so people can compare, but no comparisons can be made because there are several tax rates, and a person’s income is not an indication of their retail spending. Plus there is no way to know for certain what impact, if any, the FT would have on retail pricing. The best that can be done is to guess.
So, that excuse is a bunch of hooey. There has to be an underlying reason for calculating it as tax inclusive, when NO OTHER SALES TAXES are calculated as tax inclusive. It isn’t a leap to conclude it is being done in order to make it appear to be a lower percentage than it, as a sales tax, really is, because ALL SALES TAXES are calculated as TAX EXCLUSIVE, except the so-called Fair Tax.
If FTers can’t be honest about this one little thing, they can’t be trusted in anything. That’s the point you guys are missing. Trustworthiness. If you want people to be convinced the FT would be better than the current system of abuse, then you have to start with trustworthiness. So far, FTers haven’t.
And FTers have a long history about being dishonest with a lot of things, and not just the misleading way they quote their rate. They have been misusing their statistics for over a decade about the embedded taxes. The fairtax also grossly overestimates its revenue because much of the 'revenue' the fairtax gets comes from government taxing itself. You can't generate revenue by taxing yourself, but the fairtax does.