Why FairTax Revenue Neutrality works
The reason the FairTax is revenue neutral at the relatively low rate of 23% compared to the much higher rates in the current system is entirely because of the breadth of the tax base.
The FairTax taxes $9246.2 billion out of our $10,971.2 billion 2003 GDP, or about 84%.
The current system taxes about $4500 billion dollars, or about 41% of our 2003 GDP.
It's all about the tax base :)
posted by quadrupole @ 4:38 AM
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