Replies

Re: 30% vs. 23%, I side with Mises.org. The smaller number was clearly chosen to make the tax look smaller, and was not an honest choice given that people are accustomed to reckoning their sales tax after the sticker price. I.e., for them to compare shopping before and after the "FairTax", they would need to realize that items in the dollar store will be costing $1.30, not $1.06 as they're used to today.

Howdy, I'd like to note to you the following five points about the fairtax, as I understand it.

The FairTax is a federal tax. It doesn't change state taxes. State taxes should not be included in the discussion.

Secondly, the dollar store price after abolishing the income tax is $0.78. After then including the fair tax it is $1.01.

Thirdly, under the fairtax I don't have to fill out an income tax package and I get to keep my entire paycheck. I don't pay tax on capital gains or interest income. Nada. I don't even have to think about the federal government. I do not owe the fed money simply because the clock struck midnight on the 31st of December, and then fight over how much. I don't have to worry about audits, or tax lawyers or tax liens. If I run a business the tax calculation is infinitely less complicated than under the current thieving system. I am no longer under the thumb of a bureaucrat who needs a new bridge. That in itself is worth the whole thing.

fourth, if the politicos choose to raise the fairtax, it is I, not they, who decide whether I'm willing to pay it. Tax too high? Consumer no buy! Bad for business? Yep, but not near as bad as with the current system. and the fallout is that because the tax is now visible politicos get fired because everyone is the tax payer, and the tax payer is pissed.

fifthly, I haven't seen a single argument against the fairtax that is not easily won by actually understanding the fairtax. And woes that the fairtax doesn't cure, it doesn't make them worse, either (corruption, fraud, etc.)

Really. What's not to like about the fairtax?