Under the FTBRA, those making $5 BILLION paying a 16% effective tax totaling about $800,000,000 and struggling by on $4.2 BILLION would have to pay about $4.29 BILLION in taxes. They'd struggle to live on $704,500,000.
The additional FTBA revenues could provide four years of college grants to 122,729 students, whose families have lost their solid middle class jobs that once paid for college. Since 2.1 million applied for college in 2009, reinstituting fair taxes on one 5 BILLION Dollar Man could provide college to 6% of America' college applicants.
Year/days Gross Compensation Lives on per day
365 $5,000,000,000 $13,698,630
After Fair Tax Bracket Reinstitution Act
365 $704,500,000 $1,930,137
Generating and using tax revenues in such a way would be like reenacting the GI Education Bill, which was one of the engines that built our once growing middle class and put us among the world's leading innovators. Implementing the FTBRA would take us back to some tax rates lighter than those under Eisenhower, Kennedy, LBJ, and Nixon -- when our Middle Class and economy soared.
Extrapolate the Fair Tax Bracket Reinstitution Congressional Proposal (FTBRA) onto the top 400 incomes in America, and we could probably fix our collapsing infrastructure and dodge fewer third world potholes.
So, please give the FTBRA a read and support. People's Lobby's founder Ed Koupal's mantra was, "This country runs on laws. If you want to change the country, write its laws."
It's time citizens wrote some laws, not just well-heeled private jet-setting lobbyists. Better to do it now than hoping good laws will arise magically from America's growing number of street protesters, whom Egyptians workers are subsidizing with credit-carded pizzas.
And ask yourself, if Jesus Paulson Christ came back today as the $5 BILLION DOLLAR MAN, would he gripe about surviving on an after FTBRA income of $1,930,317 per day?
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