I can see by the comments I have been receiving that a lot of you out there do not understand, or do not want to accept, the concept of embedded taxes. The non-accepting will not accept the fact that prices will go down (experts say as much as 22%) when the FairTax is enacted. You do not trust business to lower their prices when their costs of doing business go down. You do not trust the consumers to insist on it. You do not trust free enterprise to enact price wars until the cost of goods goes down to acceptable prices.
My questions = Do you trust the IRS and Government to continue to manipulate your income? Do you think prices will remain the same under the present system? Do you think your taxes will remain the same?
No! Your Government gets more intrusive every day and you just sit back and take it. Prices keep going up, jobs keep leaving the country and you just sit back and say “I can’t do anything about it”. Taxes keep going up, government hand-outs keep increasing and you just sit back and say “Let the Government take care of me”.
This is just sick. Get a grip. And take control of your own lives and spend your money when and where you want to. The FairTax will allow this to happen.
When we say you will be able to take home 100% of your income, we don’t mean that you will not have to pay taxes like you did with the 15% payroll and SS taxes plus however much is withheld every month to pay your income taxes. We just mean you will have control of where and when you spend that money and it will be your choice of saving it (non-taxable, mind you) or spending it and being taxed.
You think about that amount. You pay 15% in payroll taxes & Social Security payments. Then on top of that, you pay 15% to 35% (whatever tax bracket you are in) as income taxes. So if you gross $50,000 per year, 15% payroll & SS amounts to $7,500. Then you are probably in the 15% tax bracket (purely an estimate – I’m not a CPA), that will take another $7,500 out of your paycheck. You will have $15,000 to spend in taxes or to save for your own enjoyment. Now if my figures are right, you will have to spend $65,217 in order to be taxed $15,000. How can that be? Well, it can’t. You’re just going to have to save some of that tax money the Government has been taking out of your pocket, because there is no way you can spend this amount in order to spend all you have saved. And don’t come back on me and nitpick my figures. I know I didn’t allow for deductions, but I am merely giving you an example. Apply it to your own paycheck and tax figures.
And quit worrying about nursing home patients who are on Medicaid. When they go through their income, nursing home patients can apply for and receive Medicaid. That means they spend the rest of their lives on the Government dole. In other words, they don’t have to pay any money; therefore no taxes. It’s the Government who pays the nursing home and with the FairTax, the sales tax. Now I am sure the Government is not going to allow the nursing homes to keep their high prices when all other business are removing the embedded taxes from their pricing.
And quit worrying about the Government. They seem to be able to take care of themselves quite nicely. They may even encourage the removal of embedded taxes in goods and services to keep their prices down. It’s time the Government started working for us and with us.