Fair Tax
I don't know how many of you are familiar with FairTax, but it's fair to say I'm a disciple of it.
FairTax would replace our current tax system, including payroll and income taxes, with a federal sales tax in the ballpark of 23% on all purchases. Any spending up to the poverty limit would be tax-less.
Income taxes discourage income and encourage spending - this is entirely backwards. While it is gaining momentum in the House, I'm fairly certain it will never happen. But that doesn't mean I can't blog about it!
posted by Lyons at
2:43 PM
1 Comments:
You're right the incometax is backwards by punishing hard work and rewarding spending however the incometax IS on its last leg and the Fairtax WILL happen it's just a matter of when i believe that the incomtax will definetely be a bad memory before 2020 hopefully before 2010 but to make it happen we need to let congress know that we want the Fairtax and if they don't give it to us we'll elect someone that will, then they will have no choice but to pass it or lose the next election.
10:29 PM
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