A family or couple making 50K a year is not spending 50K on taxable items. Assuming that 20% of their income goes to taxable items, and even that is debatable, and sales tax at 23%, which is what the Fair Tax calculator assumes. They would pay 4600 in sales tax. The family of four would get a prebate of 6767, or 2167 dollars above their tax liability. The couple would get 5,009 dollar prebate, or 409 dollars more than their tax liability.
Yeah, regressive. Those at the bottom get more. On Sat, Jul 9, 2011 at 11:20 PM, Gruss Gott <[email protected]> wrote: > Now maybe I'm not understanding this, but according to FairTax.org's > 2011 Prebate Schedule: > http://www.fairtax.org/PDF/PrebateExplained2011.pdf > > * A couple with two kids receives an annual prebate of $6,767 > > * A couple with no kids receives an annual prebate of $5,009 > > So, let's run my numbers again: > > (1.) Let's say the family of 4 making $50k/yr spends $50,000/yr. If we > say the FairTax is 15%, that means they'd pay $7,500 in taxes, but > they get a prebate of $6,767 which means they pay $733 in taxes or > 1.5% in annually. > > (2.) The couple making $350/yr also spends $50,000/yr. At 15% > FairTax, they'd pay $7,500 in taxes but get a prebate of $5,009 which > means they'd pay $2491 in taxes or 0.7% annually. > > That means that the struggling family of 4 pays double the taxes that > the upper-middle class lawyers do. > > Still sounding pretty regressive to me ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:340184 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
