Quote:
Originally Posted by Acreo Aeneas
(after reading some more on FairTax from website...)
Hmm, I don't think as consumers we (middle class) will see much of a "relief" if this FairTax passes. From prior paychecks and such, taxes take away approximately 21% of my gross earnings per check (2 weeks). If a 23% tax is levied on future "personal consumption" including that of interest earned and such, it might be close to what we our current tax system takes. Of course without doing some math calculations, I can't say how close or how big or small of an improvement this bill might offer.
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Quote:
Originally Posted by Catman1975
If I had listed anything that would not be taxed in my previous post, please let me know. I started to read the actual bill, but I've been a little short on time because of work commitments and I have not made it through the entire site. I would like to know if I listed something as taxable that would not be taxable.
I agree with Acreo Aeneas, I don't the middle class will gain anything from this bill.
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The FairTax isn't intended to be some huge tax break for anyone. It is intended to get rid of loopholes in our current overly-complicated tax code, cut back on bureaucracy, while also eliminating the absurd levels of stress associated with the days leading up to April 15th of every year.
07-29-2007, 01:32 AM
