I can't argue the fact that, taken at face value, this looks real good for those in the 35% bracket. Those in the 15% bracket, on the other hand, ...
"Isn’t there also a prebate on neccessities for everyone?"
Bill Gates might argue that.
The prebate is equal to the Fair Tax rate times the poverty income level. Since those who are at or below the poverty rate spend most of their money on necessities, the prebate is being touted as a way for the poor not to pay taxes. Though everyone gets it.
Now, prices today contain hidden taxes that the Fair Tax replaces. The poor are paying these hidden taxes today and not getting rebated or prebated today. Why the sudden compassion?
The only problem is Rep. Linder, Boortz, and these FairTaxers claim you currently pay 35% when you earn it and 22% when you spend it.“pay 35%+ when you earn it or 22% when you spend it“I can't argue the fact that, taken at face value, this looks real good for those in the 35% bracket. Those in the 15% bracket, on the other hand, ...