Quote:
Originally Posted by Ski Bum
Nice job not reading the bill and passing judgment anyway. Every proposed flat tax, consumption tax, national sales tax, whatever iteration, has always had credits and deductions for the poor, including this one. So it's not regressive. The only regressive tax was implemented by FDR.
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I posted the text of the actual bill up-thread. It does say there is a "payback" for poor people and family members but it doesn't mention how much that payback is, or how poor you have to be to be eligible for it.
It DOES give actual exemption for anyone who invests. Poor people can't invest - they're poor. So they'll foot the bill, and eventually get paid - some? of it back. Middle class folks who are already saving for actual expenses rather than socking money away with the expectation that they'll be wealthy - can't do the kind of investing that wealthier people can - so they won't get those kinds of exemptions either.
Only the wealthiest will pay NO income tax, NO investment tax, NO property tax. Everyone else will pay - and some of them will get some of it back.
That is not a "fair" tax act. There is nothing fair about it. At all.