Cap & Trade is adding about $1,500 per household of new taxes per year $4.500 in three years. Fair Tax will actually reduce taxation for a family of four earning $60,000.00 p/yr. Fair Tax eliminates all taxes in your paycheck to include SSI. It removes about 22% of the product cost on most goods which lowers the product price making for competition with imports.
The Fair tax on consumption would be about 23%. With product reduced 22% that leaves a one % increase in product, but your paycheck has gone up about 20%. It is a pay raise and how is that possible? The fair part of Fair Tax, that those with income under the table and the rich who are exempt from paying tax and have off shore income, will pay their share in taxation.
R. George Dunn
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The fair tax is a great idea!!! The fair tax also uses common sense. But, no the Democrats have to promote a bill that is going to increase costs for consumers across the board. If passed by the Senate, this bill when enacted will cause our economy to go from a recession to a catastrophe-possibly another Depression. I hope that we can avoid this for the sake of citizens and the country.
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