Any tax is going to need some oversight, it’s just substantially less than the current system. I would rather have the Fair Tax than the current system, but still prefer a flat tax. The prebate will bother me as long as politicians get to set it.
Under the current system is it absolutely taking away from me. At the present time, 51% of the people have net paychecks from the gov’t and entitlements is the largest component. The top 10% of income earners pay 71% of the Federal Tax bill. Try telling them that nothing is being taken away from them. Obozo talks about “paying their fair share”. I agree...the rich need a tax break, and doing so would do more for job creation than almost anything else. How many of you were hired by a poor person? The vast majority of poor people are so because of poor choices, especially when it comes to staying in school. I don’t mind helping them over a rough spot, but 99 weeks? Citibank had job openings and actually had respondents who asked if they could start in 4 months because that’s when their unemployment benefits ran out.
There will always be some people who cannot work for various reasons and I realize they need to be taken care of. However, our current system goes overboard. Come on...free cell phones? I prefer the German system where, if you can fog a mirror, you show up for work cleaning toilets or whatever in public buildings. You earn a gov’t welfare check. It’s surprising how efficient people become at finding new work under such a system.
IIRC, Congress does not set the prebate rate.
The annual consumption allowance is based on the DHHS poverty guidelines as published annually in the Federal Register.
The prebate is 23% of the annual consumption allowance.
So, the annual consumption allowance and the prebate will change every year; neither of them can be dictated by Congress.