You wrote: “Yea, cuz there’s nothing like a hefty 30% tax on all goods and services to spur economic growth.”
First, it’s not 30%, it’s 23%. Currently, businesses pass along their income taxes to consumers, so those taxes are imbedded in everything we buy. With the FairTax there would be no income taxes withheld from anyone’s salary, and no Socialist Security or Medicare taxes withheld from anyone’s salary. There would be no income tax returns for anyone or any company. The 23% would not be added to the retail price at the store, it would be imbedded in the price. This tax would be collected at the state government level and passed along to the federal government. There would be no sales taxes on any used goods. People could control the amount of taxes they pay based on their spending, or consumption. The Fair Tax is simple, unlike the current federal income tax system, which is so complex that Americans spend at least $250 billion a year just to comply with it -— hiring accountants, lawyers, etc.
The prebate is calculated to compensate for those who fall below the poverty line, so they would not be burdened with the retail sales tax up to a certain level of spending. The Fair Tax takes away the ability of Congress to use the federal income tax system as a way to control our lives. It kills lobbyists and loopholes. It is transparent, so any increase in the retail tax rate would be immediately obvious to all consumers. The Fair Tax would encourage savings and investment, versus spending, thereby providing the capital needed for economic growth. Foreigners visiting the U.S. would pay the tax, and so would the millions of illegal aliens and other crooks who evade paying federal income taxes. Capital would flow to the U.S. as a result of their being no income taxes here. It would give us a worldwide competitive advantage.
Go to www.fairtax.org for more detailed information, and to sign up and support it. There are bills pending in both the House and the Senate, so write to your congressmorons and tell them to support the Fair Tax, or you won’t vote for them in the next election.
The Fair Tax is to fair and too logical. They will never go for it.
First, it’s not 30%, it’s 23%.No, it would be a 30% (not 23%) increase in price.
The law dictating the 23% rate was written for the business required to remit "23% of the(ir) gross payments for taxable property and services", not you the consumer. And it's not 23% "so folks can compare" either.
If a business has to remit 23% of their gross they'd have to TAX YOU 30% on the sale.
I've been posting on Fairtax threads for over 10 yrs. I already know the lies and the rhetoric... it hasn't changed.
The 23% would not be added to the retail price at the store, it would be imbedded in the price.You're right 23% wouldn't be added it would be 30% added. And the law specifically states the tax to be "separately stated and charged", not "embedded" in the price...Besides why would anyone, especially a Fairtax advocate, think having a tax embedded in the price is a good thing?...It makes no sense.
You're being lied to and you're falling for it.
30 percent. This issue is often confusing, so we explain more here....