Gruss, do you spend every single penny of your income on purchases? Or do you make a mortgage payment, invest it, save any of it? No one..no one, spends their entire income on "new goods and services".
On Sun, Jul 10, 2011 at 12:36 AM, Gruss Gott <grussg...@gmail.com> wrote: > > Maureen <mamamaur...@gmail.com> wrote: >> >> 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 > > According to FairTax.org that's wrong: > > (1.) "The FairTax is a single-rate, federal retail sales tax collected > only once, at the final point of purchase of new goods and services > for personal consumption. Used items are not taxed. > Business-to-business purchases for the production of goods and > services are not taxed. " > Thus, all new good that aren't B2B are taxed. No exemptions. Further, > > (2.) "Exempting items by category is neither fair nor simple ... > exempting one product or service, but not another, opens the door to > the army of lobbyists and special interest groups that plague and > distort our taxation system today." > > So there are no "non-taxable" items according the FairTax.org. > > Still regressive > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| 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:340189 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
