[wayoverthehill]

23%? That would more than double what I pay now. As a senior citizen, I couldn’t do it. I don’t pay sales tax on food now, my clothing purchases are minimal, as are my gasoline purchases. Besides, does anyone think states and cities are going to forgo their sales tax? Or that the FICA taxes would really be included in this 23%? I doubt it.

[crz]

So you dont pay sales taxes on food?
How does that food get to the store? Does it get up out of the fields and walk to the store?
You pay sales tax on your food and dont forget it! You just dont know it. THINK!

[SAJ]

You'll like this even more. They compute the 23% rate off the final post-tax price. The actual tax rate is 29.87%, when computed from the pre-tax price, just as every merchant in America does now.

In effect, they're playing the old profit vs. markup game, and a lot of silly sods are buying into it.

Quick example: Item costs $1.00 with the 'fair' tax applied. The Fair Taxers and their mythical 23% tell you gleefully that the item pre-tax costs just $0.77, thus 23%. However, if the pre-tax cost is $0.77, the $0.23 tax is a rate of 23/77, or 29.87%.

How appropriate that the Huckster likes this flim-flam, eh?

[SALChamps03]

Oh you already pay it. It’s embedded in the price of everything you buy.

[stocksthatgoup]

23% is above the historic levels of taxation over the last 20 years..... Can you say tax increase?