Could you please explain to me how a 23-30% sales tax HELPS sales?
Also, if a 'fair tax' is only levied on final retail sales, the 'fair tax' rate will have to be MUCH higher than 23-30%. The feds will spend 2.5 trillion. The GDP is over 11 trillion. Approximately two-thirds of that (more research needed) is consumer spending. 2.5 trillion divided by 7.26 trilion is an inclusive federal sales tax rate of 34%.
Approximately two-thirds of that (more research needed) is consumer spending. 2.5 trillion divided by 7.26 trilion is an inclusive federal sales tax rate of 34%.The 23% fairtax lie is, by law, only for the first year. The fairtax teaser rate includes the government taxing itself to make the rate appear lower than it would have to be.