So it would seem!
I am a retiree and have run my numbers on the FairTax Calculator every way I can think of and have yet to find a scenario where I don't come out better under the FairTax than I do under the present system.
Could it be that the memo was wrong?
Thanks for the calcultor. Proved me right.
I ran my numbers, and they come out ‘equal’, but the calculator assumes I pay social security and medicare taxes on my military pension, interest and dividends [which is false].
When I manually put that back into my “true purchasing power”, I come out $2800 short spending retirement income. That’s something that Boortz continues to basically ignore [or make fun of the callers] by saying ‘read the book [good pitch - WRONG] and we spent $20M studying this”. Well, the calculator proved me right.
I got 790 on my math SAT, majored in engineering at “Drexel Institutute of Technology” [poor mans MIT] before it becamse a university for one year. Spent 26 years in the Navy working electronics.
I pay federal taxes on my military pension. Some with a disabilities also get concurrent receipt [tax exempt] or a percent of their pension is tax free. Those people would really get screwed unless the pay was adjusted up front.
Unless somewhere in the book it talks about ‘extra comp’ for pensions, won’t work, won’t fly as written. Find me something other than, trust me it’s fair before it will get m support. In fact, I turn Boortz off some days after he gets a call from someone living off IRA’, savings, social security, etc and gives them the ‘spiel’ - you already pay the taxes - WRONG - I have more money than those working, because I don’t pay SS & MED on pension and dividends.
Find me something REAL to prove me wrong.
First, a Taxman Bravo Zulu! to each person who planned and attended the DARE TO BE FAIR Rally in Myrtle Beach, SC on 1/10/08. Great job!
Now to the point of my post: I’m a retiree, also, Bigun, and FRankly, I don’t give a damn about how the FairTax affects me personally — the FairTax is not about my personal finances.
I’ll do better under the FairTax than under the Marxist inspired progressive income tax, but I have more compelling reasons to support the FairTax:
The FairTax is about FReedom!
The FairTax is about throwing the evil, Marxist inspired, LIEberal/Socialist supported progressive income tax on the asheap of History, where it rightfully belongs!
The FairTax is about abolishing the IRS!
It is about personal economic growth!
It is about a better future for our kids and grandkids!
It is about a stronger, more vibrant American economy!
It is about fairness!
It is about ending class warfare!
It is about ending the stranglehold special interest groups and the Inside the Evil Beltway Bandits have on our Congress and state legislatures!
And, those reasons, alone, ought to get Americans fired up to the point that massive pressure is put on the Congress to enact H.R. 25 ASAP.
I’m sure there are other postitive attributes that the FairTax is about — these are the ones that mean the most to me and come to mind as I write this.
Surely other FairTax supporters can add a few?
The fair tax calculator makes no sense for retirees. For one thing — it doesnt have a listing for medical costs — which are taxed.
Very strange. Since under the fairtax, medical costs such as surgery, chemotherapy, dialysis, diabetic supplies, all medical cost, pay the high sales tax, why weren’t those thing included?
Sure — you just avoid listing things that people will be taxed under fairtax — the calculator makes it look great. People are easily fooled.
Did you know insurance premiums are taxed? Even car insurance? Health insurance? Life insurance premiums too.
Funny how the calculator doesn’t even list these things.