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Obama lies about the Fair Tax<br> <br> Obama states on his website The Fair Tax hurt the cashflow of low-income families and individuals, as they would have to deal with an extra 23% rise in the cost of their purchases instead of a 7.65% withholding from their paycheck.<br> Not True: Under the FairTax Even a person<br> with a zero percent income tax rate today must pay payroll taxes on the first dollar they earn and also pay hidden federal taxes in the prices of everything they buy completely untaxing the poor.<br> Obama FairTax is designed to encourage people to save money instead of spend it since the tax would raise the "price" of spending money compared to saving it.<br> <br> True not True: The FairTax will tax every dollar of accumulated wealth in the most efficient way possible – when it is spent. Tax shelters, loopholes, or other gimmicks to shield large wealth from taxation will be a thing of the past. Meaning the Wealthy will be truly taxed more because they spend more and have more than the poor.<br> Obama Third, it removes an important incentive for home buying buy raising the cost on older homes than newer homes.<br> An Excessive Lie: The FairTax makes home ownership more affordable because used homes are totally untaxed, and three out of four<br> Homebuyers buy used homes. For new and used homes, the FairTax does not tax the earnings used to pay mortgages, interest rates will be far lower under the FairTax, and a homebuyer can save for a down payment faster than under current law.<br> Here is the Kicker..<br> <br> Obama said Americans are not really at the level of economic diversity and "understanding" as major corporations. <br> <br> Did he say stupid???<br> Maybe the real money drop, is just a drop in the bucket, for the Federal Government or the Redistribution Fund.
By Terry B.
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