NESARA
The National Economic Stabilization and Recovery Act

Monetary and fiscal policy reform that will double the standard of living for every American
within one generation and restore economic and social prosperity across the land.

 
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What’s In It For Me?
Converting to a National Sales Tax

 

Analysis for family of four
Example 2

Father and mother work, two children

Poverty level:

$16,700

Minimum wage is $5.15/hour

Hourly wage

$10.000

Total amount paid for child care

$ 5,000

Workers per household

2

Hours worked per year, paid vacation

2,080

Annual household income

$41,600

Under current income tax

Under a 14% NRST

Exemptions

4

Exemptions

N/A

Annual household income

$41,600

Annual household income

$41,600

Standard 1999 deduction (filing jointly)

$ 7,200

% of income spent on taxable items

25%

Exemption deductions ($2,750/person)

$ 11,000

Sales tax rate

14%

Total deductions

$ 18,200

Total deductions

N/A

Taxable income

$23,400

Income used for taxable purchases

$10,400

Approximate tax due

$3,510.00

Sales tax paid on taxable purchases

$1,456.00

Child care credit

$960.00

Child care credit

N/A

Approximate tax due

$2,550.00

Approximate tax due

N/A

Effective tax rate

6.13%

Effective tax rate

3.50%

Net annual effect of hidden embedded costs

Tax paid by current income tax

$2,550.00

Tax paid with 14% NRST

$1456.00

Net effect

$1,094.00

Improved efficiency with new tax system

2.50%

Annual savings due to improved efficiency

$1,040.00

Overall annual savings under NESARA

$2,134.00

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