"Chances are a person making 30k a year has 8k-16k going towards housing or car payments, Which are not taxed and wouldn't be under the "FAIR" tax. That's $2.5 -5k more to invest then they have now." --nostocks
Where is that? What country are you talking about? You mean if they sleep in their car, and have no family? Or live in their parent's basement? But if they have 3-4 children, what about food, diapers, school supplies, cough syrup, and medical supplies? So families should be taxed more than single persons? Traditional low to middle income married couples, where the wife raises the children, would then have to pay the most taxes.
The richest people that pay 5% of their income on housing would be exempt then from paying income taxes on all their properties and real estate investments, as well as all capital gains taxes? Then they are free to spend the money they want overseas instead to avoid further taxes. This plan doesn't sound like the prescription to a healthy US economy. It would only lead to even lower wages, and a further decline in American middle class wages.
By the way, we don't stereotype or assume anyone as typical on this board. We can assume people have the ability to think for themselves. I know it's harder to communicate, if you prefer to sound like a dittohead, but please try to do your best. Thanks
