Great. So now I have $100 in the bank.
After the FairTax, if the price says $100, you earn $100, you pay $100. $23 of that is the tax.
Great, I paid $40 in income tax and $23 (30%) for the sales tax. Sign me up!!!
Can you grasp the concept of embedded taxes, or the difference between taxes quoted inclusively or exclusively?
You believe embedded taxes on goods sold now are 23%?
The FairTax removes one tax, and replaces it with another.
But I don't get my withholding back, so it doesn't really remove my income tax, does it?
But I don't get my withholding back, so it doesn't really remove my income tax, does it?Get real - you want a retroactive refunding of all income taxes ever paid?? Surely you're not really that dense. Look at it this way, then, at least the FairTax will keep you out of tax prison due to gaming the tax system as you claim to have been doing.