Isn’t there also a prebate on neccessities for everyone ?
All valid Social Security cardholders who are U.S. residents receive a monthly rebate equivalent to the FairTax paid on essential goods and services, also known as the poverty level expenditures.
Fair Tax FAQ #3 but keep in mind the prebate for the wealthiest people will be such a small percentage compared to their income that their effective tax rate(after the prebate) will still be close to the maximum 23% .
The Fair Tax seems bulletproof to me. The only issue that concerns me is what the States would do with their tax systems .
That is the major sticking point with the Fair Tax, as the States will not want to abolish their sales and income taxes .