I found a tax calculator at the FairTax website. You should take it...You will likely be blown away by what it reveals.
For years I have thought FairTax was a great concept because it's a "built-in" tax on every good/service purchased in America. If you are an American citizen then you receive rebates based on the size of family on necessities purchased.
Here are a few benefits of this legislation
1. Visitors to America pay into our Social Security system when they purchase anything
2. Anyone here illegally pays a larger portion and would then be encouraged to actually become citizens. (there is "cost" to sneaking across the border).
3. Any money earned through illegal means is now taxable. (drug dealers, etc)
4. You control the amount of tax you pay by what you purchase. (if someone is poor, they can purchase resale items at NO TAX). If you are poor and practice bad money habits then that's your choice and you have no one to blame for paying higher taxes.
Do some research on FairTax. By the way, you keep all your paycheck. There is NO IRS or tax day (April 15) any longer.
Hopefully, this will spur some good thinking. Enjoy your day!
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