In support of The Fair Tax

Todd

I’m a fan of The Fair Tax. It’s the fairest tax of which I’m aware. Which makes its name so perfect.

For those that aren’t familiar with the tax plan, the basics are:

  • No more federal income tax.
  • A sales or consumption tax replaces income taxes. There is no sales tax on essential goods such as food or medicine.
  • No more personal filing of tax returns. April 15 would be a holiday!
  • No more IRS. Sorry tax accountants.

The reasons for this tax plan’s awesomeness are many, but in short, those with the most money pay the most taxes because they buy the most stuff. And, because taxes are based on purchases, illegal immigrants, tourists and drug dealers would all be paying taxes.

This tax plan just hasn’t caught much traction, as there are some pretty powerful lobbies opposed to its implementation. And, unsurprisingly, a majority of Democrat politicians.

But, if The Fair Tax were implemented, Obama’s three problem cabinet appointees wouldn’t have had any tax issues to interfere with their appointments and two of them would be serving today.

Seriously, if you’re unfamiliar with the Fair Tax, I recommend checking out their website and picking up a copy of Neil Boortz and John Linder’s books The Fair Tax Book and Fair Tax: The Truth.

If you are familiar, what do you think about it?
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3 Comments

  1. February 10, 2009 at 2:27 pm — Reply

    Sounds fair to me.

  2. Brad
    February 13, 2009 at 7:59 am — Reply

    The “stimulus” package now almost sure to pass is a big step back for fair tax proponents. It’s loaded with tax advantages for people who already don’t pay federal income tax. Under the stimulus plan the EIC goes up. I doubt anyone who gets a Christmas bonus rather than paying taxes under the current system will want to switch things around.

    Except for me of course. I qualified for the EIC and got a refund higher than my liability. But both my sense of justice and my political belief system compells me to support the fair tax.

  3. Rob
    March 29, 2009 at 8:53 pm — Reply

    The problem with the so-called “Fair” tax is that is isn’t fair at all. As a percentage of income, poor people spend more of their incomes than rich people. They live paycheck to paycheck, spending every dime. Therefore, they would pay taxes at the highest rate. If you gave them a large deduction (i.e. the first 5000 you spend doesn’t count) then the middle class ends up paying the highest percent. Rich people (the upper 1%) spend their money abroad at much higher rates than anyone elseand we wouldn’t be able to tax that at all. Not a fair system.

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In support of The Fair Tax