This is THE calculator I used. Anyone (and I do mean anyone
) who can write off a huge percentage (particularly those in the transportation industry) of their income will get screwed.
Having said that, for the other ninety-plus percent, you are correct.
What percentage of your income can you legally write off under the income tax?
And how does the FairTax “screw you” (or anyone else)?
Please offer some specifics.