Abracadabra Founding Member
Posts : 1325 Join date : 2010-05-13 Age : 80
| Subject: A FAIR TAX FACT! Sun 09 Jan 2011, 11:13 am | |
| Under the Fair Tax, it does not matter what you earn, you are taxed only on what you spend at the retail (NEW) level. Your spending up to the poverty level for your family size ($26,400 for a family of 4) is untaxed at the federal level. A prebate, which you get it at the beginning of the month, ensures that all spending up to the poverty level is UNTAXED. Beyond that, you have choice as to if, when, and how much tax you pay, based on your spending habits. If you're a family of 4 and you spend every single dime you have at the retail level, you'll pay the federal tax on every single dime you spend AFTER $26,400 -- not very responsible, but, hey, its CHOICE! |
|