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  • From: knightsirlewis
  •   To: All
  • 1 of 3
  • 4/23/09
I think the FAIRTAX PLAN (FAIRTAX.ORG) will produce american jobs and create a transparent tax plan for all to see. Curious who has actually been to the wesite. John you should check it out if you haven't already.
  • From: IAgreeWithEverything
  •   To: knightsirlewis
  • 2 of 3
  • 4/23/09

Unspinning the FairTax

"... the bipartisan Advisory Panel on Tax Reform had “calculated that a sales tax would have to be set at 34 percent of retail sales prices to bring in the same revenue as the taxes it would replace...

 if the poorest Americans are paying less under the FairTax plan, then someone else pays more. As it turns out, according to the Treasury Department, “someone else” is everybody earning between $15,000 and $200,000 per year. The chart below compares the share of the federal tax burden for different income groups under the current system and under the FairTax. Those in the highest and the lowest brackets will see their share decrease, while everyone else will see their share of taxes increase...."
 http://www.factcheck.org/taxes/unspinning_the_fairtax.html




  • From: HighTechAmerican...
  •   To: IAgreeWithEverything
  • 3 of 3
  • 5/6/09
Well written.  A fair tax is a progressive one as Adam Smith, the father of capitalism designed, as Teddy Roosevelt fought for.

Any one who has to capitalize the name of the flat tax to call it "Fair" is buying into an idea that is both unfair and unwise, one  that is far less than optimal that actually decrease the total experience of wealth, reducing M1 and the velocity of money.  There are already problems that are worse than flat in the current system,  the unwinding of which would do much to help the economy to recover.

 
 
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