Mike B
2008-03-02 19:09:00
OK..I`m not an economist, or “highly” educated. I am an ordinary man, who likes to keep what is his, that is my money.Reading this comments,I have the tendency of thinking that most of the comments are completely ignorant.Maybe this people didn’t read the whole bill (HR 25) or just don`t like it because its cutting into their special interest.
For me comes this simple:
Now: for a $100 item of strict necessity cost me $120 ($100 cost of item + $20 taxes on my income)
FairTax: same item will cost me less ($77 cost of item + $23 sales tax – $23 monthly prebate)
So, for a poor person, who earns $10/hr is a difference of about 4 hours or $40, that is a saving of 30%
