At 30% inclusive! LOL!
Yep 23% Fair Tax HR25 at federal level along with 7% average state and local taxes.
"Assume H.R. 25 becomes law. Overnight, people would move from paying, to the feds and states, roughly 50 cents per dollar earned on their supplies of labor and capital to roughly 30 cents."
The Case for the 'FairTax', By LAURENCE J. KOTLIKOFF; Wall Street Journal, March 7, 2005
Yep 23% Fair Tax HR25 at federal level along with 7% average state and local taxes.You read a lot into a little. It's not clear what Kotlikoff is saying there.
"Simulation analysis and a variety of empirical calculations suggest that the retail sales tax rate needed for revenue neutrality under the Fair Tax, assuming no decline in the real value of government purchases, would be roughly 30 percent when measured on a tax-inclusive basis."
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