Strycker Loc: The middle of somewhere else.

I posted this in another thread but I'll repeat it here since you asked. Doesn't take but a few minutes to crunch the numbers. And there is nothing in The Fair Tax adding caps for the wealthy. Only a half baked fool would pull made up ideas out of their own wack job butt.

Anyone earning over $11,000 pays 27.5% of their earnings over $11,000 in SS, Medicare, and federal taxes. The fair tax makes the first $25,000 tax free which lowers that 30% to well below that 27.5%. So even with a 30% sales tax on new purchases most people would be paying less in federal taxes than they do now. Meanwhile, the rich, who currently pay 32% to 37%, would likely be paying much more with taxes based under the Fair Tax rather than the current tax with loopholes.

Roughly, someone who earns $50k and spends half of it on consumer products and/or services would pay $7500 in sales tax. While someone who currently earns $50k and pays SS, Medicare and federal income tax would pay $9500. Someone currently earning $25k pays $4700 federal taxes. Under the Fair Tax someone earning under $25K pays zero.

It also does away with business taxes so, presumably, the cost of products or services will go down as well.

Politicians against the Fair Tax are lying to you in order to keep their power to manipulate. It is really a very progressive tax where the rich pay more in taxes based on their total spending simply because they have more to spend. Period.

RandyBrian Loc: Texas

You hit the nail on the head, Stryker. The reason politicians of every stripe oppose this, as well as any form of flat tax, is because they LIKE and NEED to spend other people's money on their pet projects. The only ones who are willing to give up that power are CONSERVATIVES!

Strycker Loc: The middle of somewhere else.

Some conservatives. Too many are in the same bed as the Democrats

RandyBrian Loc: Texas

If they are in bed with the Democrats and rinos and support the bloated bureaucracy, then they are NOT conservatives, no matter what they may claim.

American Vet

coelacanth Loc: Michigan swamp

What about the folks who pay no income tax on their social security because they don't make enough money? With this idea, they will be devastated. What whack-job came up with this idea?

Strycker Loc: The middle of somewhere else.

There is something called a "prebate" in The Fair Tax that covers the first $25k of income and thus consumption tax for everybody to cover necessities such as food.

Smedley_buzkill

Another brainless California leg humper who has no damn idea what the Fair Tax is, how it works, what's in it or anything else. You call others whack jobs when you lack the education and intelligence to look it up for yourself. As far as "crunching the numbers," you mean believing wh**ever bulls**t someone smarter than you (that's a long list) tells you they are.

coelacanth Loc: Michigan swamp

Road apples! I made just under $49000.00 last year in untaxable income and we are scraping by, due to the record inflation. Our utilities went way up, along with our property taxes and just that wiped out our bump in social security. Groceries are another story. We have to drive thirty miles round trip for groceries and other essentials. If we have to start paying taxes, we won't be able to afford to live in our home of 33 years. Then what?🤔 It's a t***sfer of wealth, pure and simple. ☹️

Fab

Where do you come up with these insane ideas? You talk out of the side of your brain that doesn’t work! Sorry for your ignorance!

Fab

👍

coelacanth Loc: Michigan swamp

. My income taxes would be $7500.00 higher than they are now, which is zero.

Strycker Loc: The middle of somewhere else.

How do you make $49k in legal nontaxable income? It is either gifts, inheritance of a handful of other ways or you are c***ting on your taxes. Even SS is taxable. Enquiring minds want to know.

As far as the Democrats inflation. It is hurting everybody regardless of how their taxes are paid.

coelacanth Loc: Michigan swamp

I use "Free Tax USA". You don't know much about taxes, eh? 🤔

JR-57 Loc: South Carolina

In my whack-job mind, Social Security benefits would not be taxed.