"The popularity of the FairTax suggests..."
...they're using cockamamie equations.
For example, if you buy an item for $100, and with sales tax it's $107...you've paid a 7% rate. With the FT, you'd pay $130...but the Fair Tax calls that 23%...because 30% didn't poll well. And they use 30/130 ($30 out of $130 total spent) to "calculate" 23%.
Did you get that? They use a different equation than the usual "sales tax" equation everyone knows.
And of course, that $130 doesn't include the local sales tax...and the new STATE sales tax to make up for the abolition of the federal template.
Do I hear $145?
"The popularity of the FairTax suggests..."
...they're using cockamamie equations.
For example, if you buy an item for $100, and with sales tax it's $107...you've paid a 7% rate. With the FT, you'd pay $130...but the Fair Tax calls that 23%...because 30% didn't poll well. And they use 30/130 ($30 out of $130 total spent) to "calculate" 23%.
Did you get that? They use a different equation than the usual "sales tax" equation everyone knows.
And of course, that $130 doesn't include the local sales tax...and the new STATE sales tax to make up for the abolition of the federal template.
Do I hear $145?