TAXAVIST
I originally ran this post on my blog at The Baxter Bulletin (Mountain Home, AR) on March 7, 2009...I used the 2008 US Tax Code as the basis for my calculations:
Here's a chart I compiled to contrast how the Fair Tax [www.fairtax.org], a broadbased consumption tax [with a universal rebate on taxes paid on the value of goods and services equal to the federal poverty level] stacks up against the current income tax code and the so-called "flat tax" that has been supported by Steve Forbes.
For this comparison, we're going to use a family of four [two adults, two kids] making $100,000 a year. To keep things simple, we'll assume that the family does not itemize their return, and that their total income does not include any interest, dividends, and/or capital gains. Also, I will also presume that the amount of payroll tax withheld equals the amount of tax paid.
READ MORE AND SEE THE CHART:
http://www.taxavist.com/t5/Grassroots-Central/Comparing-the-FairTax-with-the-Flat-tax-and-the-Current-US-Tax/td-p/559
It Makes Sense Now
2 hours ago
You have no clue what you are talking about.
ReplyDeleteNone. Zero. First of all, Fairtax is a farce. Got that? A F A R C E. The guy making 100K in your goofy "comparison" could easily have 200K in Fairtax taxes. Did you know that?
No, you had no clue. IN fact, millions of us would have exactly that -- higher taxes than we have income.
WHy? Well, if you knew anything about Fairtax, you would know. Mostly, millions of us would owe more taxes than we have income because of medical bills in our family.
Heart surgery - taxed. Cancer chemo -taxed. Rx drugs -- taxed. No exceptions. I had 180,000 dollar heart surgery last year. Plus, of course, I had all kind of other spending. I still have one child at home, for example.
I would owe more money in taxes -- with Fairtax, than I made all year. ANd I would not be alone -- there would be millions of us.
That's just the START of Fairtax goofiness.
Tell you what, go learn what you are talking about, and try again.
If you are that clueless about Fairtax, what do you know?
http://fairtaxfineprint.blogspot.com/