Is it fair for rich people to get the exact same FairTax prebate from the federal government as the poorest person in America?
Let’s look at a billionaire under the FairTax — if he spends $10,000,000 dollars he pays a tax of $2,300,000 and gets a prebate of $4,697 (assuming he is married and has no children). His effective tax rate as a percent of spending is 22.95 percent. Now, let’s look at a middle-income married couple with no children under the FairTax — if they spend $50,000, they pay $6,803 net of their prebate for an effective tax rate of 13.6 percent. The effective tax rate increases as spending increases, but never exceeds 23 percent!
Related Questions
- Is it fair for rich people to get the exact same FairTax prebate from the federal government as the poorest person in America?
- Is it fair for rich people to get the exact same FairTax rebate from the federal government as the poorest person in America?
- IS IT FAIR FOR RICH PEOPLE TO GET THE SAME FAIRTAX REBATE FROM THE FEDERAL GOVERNMENT AS THE POOREST PERSON IN AMERICA?
