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<blockquote data-quote="satellitedriver" data-source="post: 365450" data-attributes="member: 1664"><p>Exactly, NY.</p><p>There in lies the rub.</p><p>I look at things from percentages, when it comes to money.</p><p>This is to suppose to help the lower class wage earner. </p><p>How?</p><p>We have a progressive tax structure, the less you make, the less percentage you pay.</p><p>The lower wage earner only pays nearly zero( less than 10%) in IRS taxes and has to only has to pay the local county sales tax of(roughly on an average, 8%).</p><p>To make the starting point of a "fair tax" at 23% is going to hurt the poorer working class than the present tax structure does.</p><p>I have not studied this subject in any depth. I can only look at my personal situation as a UPS driver.</p><p>My last filing with IRS for 2007 was $100,000. 00 in personal income.</p><p>Straight simple 1040 form, standard deductions. I have no debt and I have no extra deductions, since my wife and I have shut down our side business's.</p><p>My effective tax rate paid, due to it being a progressive tax structure, was 13.98%.</p><p>I can live with that.</p><p>Add the average 8% sales local sales tax to my Federal tax rate and I save 1.2% of my money over the "fair tax".</p><p>People will see more in their weekly check, but will give greater pause in spending it when they see a Big Mac and fries costs $10.50. </p><p>Less spending equals a slow down in the economy, IMHO.</p><p>As to the ability of the politicians being able to spend our money as they wish, well that is another thread.</p></blockquote><p></p>
[QUOTE="satellitedriver, post: 365450, member: 1664"] Exactly, NY. There in lies the rub. I look at things from percentages, when it comes to money. This is to suppose to help the lower class wage earner. How? We have a progressive tax structure, the less you make, the less percentage you pay. The lower wage earner only pays nearly zero( less than 10%) in IRS taxes and has to only has to pay the local county sales tax of(roughly on an average, 8%). To make the starting point of a "fair tax" at 23% is going to hurt the poorer working class than the present tax structure does. I have not studied this subject in any depth. I can only look at my personal situation as a UPS driver. My last filing with IRS for 2007 was $100,000. 00 in personal income. Straight simple 1040 form, standard deductions. I have no debt and I have no extra deductions, since my wife and I have shut down our side business's. My effective tax rate paid, due to it being a progressive tax structure, was 13.98%. I can live with that. Add the average 8% sales local sales tax to my Federal tax rate and I save 1.2% of my money over the "fair tax". People will see more in their weekly check, but will give greater pause in spending it when they see a Big Mac and fries costs $10.50. Less spending equals a slow down in the economy, IMHO. As to the ability of the politicians being able to spend our money as they wish, well that is another thread. [/QUOTE]
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