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79SmithW60's avatar

Exactly: "refundable" tax credits, where people get MORE than they paid into the system... talk about a 'vote buying' scam.

With the Fair Tax, there is a monthly "prebate" payment that is based off of the published poverty level and the Fair Tax percentage amount that would be paid on that amount would be divided into 12 monthly prebate payments to the household. He uses a family of four household as the example. The book I have was written in 2006 so the numbers are based off of what things were at that time. The rebate is to offset taxes on household necessities. As written, anyone near the poverty level would be considerably much better off with the fair tax than the current system. Too much to write in a post here, but it makes things much better. No payroll or FDIC tax either because the Fair Tax replaces those taxes as well. I have to go back and re-read the book, it has been a number of years since I've studied it.

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