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Dear Editor, The Fair Tax Act proposes a tax on all new merchandise and services in place of all income taxes, payroll taxes, corporation taxes, and taxes on dividends, interest, and capital gains. Critics of the Act, which proposes a 23% inclusive tax, have confused the issue by saying that this law is in reality a 30% tax. To clear up this misinformation, consider the following explanation. The 23% tax is included in the stated ...
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