Alan Greenspan and his ilk are Washington statists. If anything good comes out of these discussions it should be that we all accept that fact. Now let's come up with a good tax policy. The fair tax is the best place to start. I can't imagine a more fair way to collect taxes than a national sales tax.
To all FairTax supporters.
I am trying to understand where the 20-25% embedded tax/cost of compliance comes from.
I have read a lot of documents on taxfoundation.com. I have seen numbers around $150 billion just for the compliance to the Income Tax. Obviously corporate income taxes and the corporate portion of the payroll tax will decrease expenses that each company pays. I also understand how the costs cascade up the line from raw material to retail purchase.
Like I mentioned earlier, if depreciation is a compliance cost, our company could get a $30 million benefit from the Fair Tax.
Can someone give me a link to where this research is spelled out so I don't have to do all this myself?