Sunsettommy
Diamond Member
- Mar 19, 2018
- 15,178
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You IDIOT.So you say, but the usual inability of anyone making an actual case beyond a sentence, doesn't sway anyone, I have already seen lies and overt bias against it right here in the thread with Rightwringer claiming 30% when it is actually 23% (which is a proposal), as an example.
It should be easy for YOU to make the case against Fair Tax in some detail, as YOU claim you have a background in Finance.
Go for it!
You know infinitely less about finance (even math) than climate, which doesn't seem possible, but obviously is.
Under FairyTax....
A $100 item will cost $130.
That's a 30% sales tax.
But FairYtax, calls that "23% tax inclusive" by dividing 30/130.
NO one else/NO state uses that riDICKulous method/deception.
All other sales taxes are simply stated as the rate you pay over then item cost. (aka 'Tax exclusive')
Only FairYTax tries that absurd deception.
And again that rate would only produce about half the revenue needed.
FairYtax, unlike state taxes, has no exemptions.
ALL goods and services.
FOOD, RENT, New House, Medical procedures/Insurance/prescriptions all would be taxed 30%. Even the Military would have to pay the 30% to buy a Tank/Jet/etc.
You are just a Contrary MORON, with no grasp of even simple math.
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Ah, so you have no actual case, just an insult filled unverified, unsourced reply is the best you can do......
Here is one published paper you never read, from Suffolk University:
A Comparison of the FairTax Base and Rate with Other National Tax Reform Proposals
selected excerpt:
The larger tax base under the FairTax and BTT translate into the lowest tax-inclusive rates (23.82 percent and 24.49 percent, respectively) while the current tax law and flat tax have the highest inclusive rates at 32.55 percent and 29.68 percent, respectively. These rates are calculated assuming that all plans replace the same taxes as the FairTax, including the federal payroll tax.
•A distributional analysis indicates that the FairTax, flat tax, and BTT – all consumption taxes – are progressive when measured against expenditure or lifetime income and regressive when measured against current income. The current tax law is progressive when measured against current income but much less progressive when measured against current expenditure or lifetime income
LINK
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Your 30% claim is a provable lie, here is what the PROPOSED Fair Tax actually says:
“SEC. 101. Imposition of sales tax.
“(a) In General.—There is hereby imposed a tax on the use or consumption in the United States of taxable property or services.
“(b) Rate.—
“(1) FOR 2021.—In the calendar year 2021, the rate of tax is 23 percent of the gross payments for the taxable property or service.
“(2) FOR YEARS AFTER 2021.—For years after the calendar year 2021, the rate of tax is the combined Federal tax rate percentage (as defined in paragraph (3)) of the gross payments for the taxable property or service."
bolding mine
Already posted the link TWICE now and still you are lying about the tax rate.
Your ugly replies doesn't help your case.......................