I know exactly what I'm talking about. 23% inclusive or exclusive, I do not give a **** as long as it's across the board and it's the only federal tax I pay. They didn't lie to you, they said it's a 23% tax, which it is. A 23% inclusive tax. It's in the legislation. ...but you stick with the fuken status quo and start talking this shit about the "effective tax rate" etc. Libs love that kind of talk.
More accusations that I'm liberal. Whatever. I don't accuse you of that shit. 30% is not an "effective" rate. It is the rate calculated like most Americans calculate sales tax in their states. The effective rate is actually different, and like the income tax, would have to be calculated on an individual by individual basis, which brings up another point - it will be much more difficult to determine one's effective rate under the Fair Tax unless you save receipts and track used purchases, savings, etc., and add every one up at the end of the year for every penny you spend.
No, DAT, it doesn't mean shit. I may not be a tax expert, but I did graduate cum laude with a Bachelor's of Science degree in Business Administration and have a few classes towards my MBA before I had to drop due to personal reasons. Neither businesses nor individuals plan their patterns on a ****ing fluid "effective" tax. That's a term created in the economic world by the equivalent of a Sociologist.
I have a BBA in accounting and a Masters in Taxation and a CPA license, and I spend 5 years in public accounting doing tax work, and I still do tax work on the side. I've done north of a few thousand tax returns, about half of which business returns. And you don't have to slightest @#%!ing CLUE if you think that nobody pays attention to their effective rate. You're talking 100% out of your ass. For every one of our businesses we provided them with a report showing them their effective rate, because they wanted to know. Investors in public companies
also want to know, so it's typically a financial statement disclosure. If you're buying or selling a business and trying to assign a value to it, effective rate absolutely mathematically matters. If you're doing specific tax planning, sometimes it's the marginal rate that matters, sometimes it's the effective rate. One uses both.
The Fair Tax has two marginal or stated rates, depending on if you're using the customary sales tax calculation (30%) or the tax-inclusive rate (23%), which nobody in America uses. Then different people will have different effective rates, even on what they spend, because there is (despite your obstinate denial in the face of links provided) a progressive component to the tax. On the low part of the scale, under the proposed "Fair Tax" there WILL be people who have effective rates of 0%. There will be lots more people who have effective rates between 0% and 30%. This is simple, provable FACT which is DISCLOSED on the Fair Tax web site.
None of this is rocket science, but you're willing to stay ignorant about it I suppose. Whatever. You haven't sold me in the slightest on it, because you can't answer questions about it, deny facts from their own web site, get basic accounting facts DEAD WRONG, and you don't appear to even want to learn more about it.
