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It seems like out of all the serious tax reform proposals, the FairTax is gaining the most momentum. It's basically a national sales tax of 23% that would replace all federal taxation.

Pros of the FairTax:
- Easy to understand
- Low compliance cost
- Taxes are "voluntary"
- Encourage saving and discourage spending
- Does not penalize making money
- Encourage reuse, instead of buying
- Retail prices (pre-tax) could fall since corporations will no longer have to pay taxes

Cons of the FairTax:
- We are still getting taxed at a signficant percentage
- Tax rate could increase in the future
- Does not address the root problem - federal spending

FairTax Proposal
FairTax Scorecard
FlatTax FAQ
GA FairTax

John Linder
Neal Boortz

John Linder

More reading:
The FairTax... Again
Winner and losers under the FairTax
50 Reasons I support the FairTax
Ron Paul - Who Opposes Simpler, Lower Taxes?
The Fair Tax Fraud
The Consumption Tax: A Critique

Posted: 2005-12-09 07:27:34

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