I think of my 80 year old mother for example. She is on a fixed income (SSI) people like her would be stuck paying the extra 9% without any extra money.
Is that fair? Is that right?
Again, folks need to learn Gross versus Net. She is already spending 30% corporate tax written into the prices of goods and services she buys. That would go down to 9% corporate + 9% sales, or 18%- in other words a decrease she has to spend of 12%. She wouldn't be spending 9% more, she would be spending 12% less.
My mother lives off of Social security and she’s as excited as hell about this plan.
Because she realizes that overall, prices will go down. The 9% tax will be a wash or better than what we’re paying now.
And if my husband and i get the $7000 estimated tax savings that the Fair Tax calculator says we’ll get, we might be able to actually be able to afford to help our parents out in their old age.
Imagine that. Family being able to afford to take responsibility for family instead of leaving it in the lap of the government.
SSI is not taxable income, I don’t think