No, Jay or whatever your name is. That's not how the FairTax works. And DeSantis is pushing a Flat Tax which is an Income Tax, which always grows back to its monstrous self.
I'll explain in a moment why the FairTax isn't going to rip us off for 30% or whatever calculation is used.
But first to the real point:
Would you trust him?
Why not?
Because he's a liar. He hasn't earned anyone's trust.
As for the FairTax, first read in #13 of this thread an eeny-weeny mini-primer on it.
Then, take the following simple short example:
That roll has been taxed up and down its supply chain. It's got around 25% federal taxes embedded into its $2.99 price.
It's price on the shelf without all the embedded federal taxes is $2.39.
What the FairTax does is take that $2.39 roll on the shelf, bring it to the checkout counter and add the federal 25% back on so it's $2.99 out the door.
To get a short primer on the FairTax as opposed to the history of the Income Tax, don't forget to see #13 of this thread.
And remember the Income Tax started out as a Flat Tax. A flat tax always grows into the monstrosity we have today, always
Without the embedded taxes, which are invisible, the true tax paid is much more transparent. That is an important aspect of the Fair Tax that is often missed, i.e. the removal of value added taxes will drive down end user prices. Assuming a free and competitive marketplace.
Hostage. Thank you for your courteous reply. I am Jay Galt because JGalt was taken. I do not believe that the Fair tax will not be adjusted, up at the whim of our “elite”.
I am decidedly not a DeSantis admirer. Trump has shown that to the limits of the possible he fights for the success of America & Americans. W/O the resistance by entrenched politicians his proposals would have balanced the books & eliminated Federal debt in 1-2 decades.
America’s success will be advanced by a dramatic reduction of bureaucracy and Government “services”. I favor a VAT type tax myself with cutouts for necessities to provide a safety net. So we are in agreement.
Talk is cheap. We have only one person who has delivered on the majority of his promises. DeSantis is bought, sold and will not turn on the Establishment Repubs & Globalists no matter how he presents himself.