I already pay over 11% of my income in property taxes. I am retired on a fixed income. If I have to pay 23% on every purchase, will they freeze property taxes, and drop all Fed & state taxes on fuel???
With the price of gasoline, I only drove 3111 miles this past year.
I will be getting cabin fever this time next year when all of my tv’s don’t work because of HD.
It isn’t.
The real cost of the FairTax to a taxpayer is the effective tx rate which is frequently about half your present effective tax rate. Your effective tax presently is nothing like the 35% marginal tax bracket you’re in (or whatever marginal bracket you might be in). It is the amount after filing your annual tax paperwork and receiving your refund.
THAT is your present effective rate just as your effective FairTax rate is much lower and is something you can calculate using one of the FairTax rate calculators which have had links on these threads. Many things are not taxed under the FairTax since they are not consumption.
Pretending otherwise is just that - pretense.