Basically there are no taxes other than a set sales tax. The sales tax would be higher though (projected in the 23%-35% range). Some people think it would make it more fair, hence the name.
It would be SET at 23%...not higher (most people that don't know about the fairtax think 30% or 35%, but this is just ignorance because they haven't read)... Visit the fairtax link in my previous posts...that should help answer your questions.
Yea, thats what I thought, but after reading a few threads on this forum I saw many people saying 30 and stuff so I just assumed it wasn't settled yet.
It is...the writer of the bill, Congressman Lindler of SC did a book with Neal Boortz about it...they have a followup book coming out in about a month I think...you can pre-order it here: http://www.amazon.com/FairTax-Answe...1540463?ie=UTF8&s=books&qid=1199707742&sr=8-1 edit: Lindler is from GA, not SC.
Don't believe anything, 'nothing is settled' when it comes to a bill or something such as this. The final proposal might be, not what would be attempted to be voted though ---- and for those of you who support the fair tax. Yet again you do not honestly think a merchant is going to keep a product at $100 and pay $23 to taxes do you? The merchant will raise the product to AT LEAST $123 if not higher I should know I am a merchant!
Yeah and no bills, or anything like that ever gets changed for compromise in order to get it though Talk about 'ignorance' Still no answer on the $100 product that will remain $100 when the merchant now has to pay $23 of that into taxes.
thats the beauty of the fairtax...23% is high enough...the reason being is that now ALL people will be paying tax, whether it is americans, visitors, illegals, whoever. You pay a tax on the good you buy, not on the money you make. I think this will help...not only does it show the difference between the current tax system and the fairtax, but it gives a breakdown of why a good that cost 100$ will still cost 100$ after the FT. This is from the link I posted earlier to the FT website, which I think some people might have skipped over. Please let me know if this does not make sense.
So according to this, 'very hard to read btw' the $100 item is in fact $125 as Joe paid $125 to the storekeeper, $100 is for the item bought, $25 is for the taxes. He paid it directly to taxes NOT the merchant. The merchant simply forwards the amount, just like sales tax now. Talk about ignorance, not even knowing what he supports and how it works. Which does not look like
it will put more money into the economy. if they don't tax your income, then you can buy whatever you want. a drug dealer can't buy a million dollar house because he never paid taxes on those million dollars...with the fair tax no one is lookin at his income so therefore he can buy a million dollar house and a bently
and the millionaire can sit idle and not buy much of anything, hoarding his money. The poor person wont buy much of anything as it is more expensive now, even if only mentally as people do not comprehend 'even if it's the same' they only see the price tag when they buy.
exactly...I think the confusion and the ignorance of people is the difference though between tax inclusive and tax exclusive. Those that say the cost of good will go up don't know the difference between the two and are unwilling to learn. These are also the people that claim it will really be a 30% sales tax....I really wish more people would read...thanks for your explanation mookie.
Nobody sees how this will create a black market? 5-10% on sales tax not much of a point, add in 23% extra and wow could be profitable for many to sell under the table
also my father will be spending alot more, he spends every dime he has now and he is taxed at 35%...if he was only taxed 23-25% he would be driving a new car and spending even more money
I just found this wonderful explanation of the fairtax, and it sums things up quite nicely! (www.fairtax.org)
normally I don't respond to people on ignore, but your post shows your own ignorance. It is not a 5-10% tax PLUS an additional 23%...how about read about it and then bring a decent argument. you are back on ignore.
Ahh yes because one person and how he decides should be the factor in figuring out how everyone on every tax level will be as well.
also for the drug dealer part....that could easily put millions, if not billions back into the economy....even if the drug dealer puts it in the bank, instead of it being mattress money or brown paper bag money in their closet it would help.
Oh so the feds will do away with state sales tax now will they? the 5-10% I put out there was a rough estimate of STATE and County Sales tax. Talk about IGNORANCE BTW you were owned above