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To: ridesthemiles
If I have to pay 23% on every purchase,

You'd have to pay 30% on each purchase. And if you sell your home now, you wouldn't have to pay capital gains taxes on a profit of $250,000 ($500,000 if you're married) but under the FairTax, you'd pay 30% on the gain when you spent it. And 30% on the original purchase price when you spent it.

Sounds great for you!

790 posted on 01/12/2008 9:47:38 AM PST by Toddsterpatriot (What came first, the bad math or the FairTaxery?)
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To: Toddsterpatriot
The smarter way to do things would be to sell the house, pay no tax on the gain, invest the money and pay no tax on the income from that investment leaving you well ahead of the game.

Nothing is taxed that is not your own free choice of consumption.

793 posted on 01/13/2008 9:32:30 AM PST by baybabe
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