[Menehune56]

Didn’t read the full report but this summary doesn’t include Social Security and Medicare withholding and that alone is over 15%.

[xzins]

Good point.

I like the fair tax idea for a couple of reasons that really don’t have anything to do with the tax rate.

I do like the end of the IRS.

I do like the taxation of the underground/criminal economy.

I do like the taxation of foreigners.

I do like the ability of an individual to determine the tax he pays by determining what he buys. (For example, I’m sure this will bring back “victory gardens.)

There are other things.

Also some things I don’t like.

I don’t like the idea at all if the 16th amendment is not gone BEFORE this is implemented.

I don’t believe the notion that companies will lower the price of goods due to the cost of taxes built into prices. They won’t.

Given the above, I don’t believe that companies should be exempt from paying sales tax on their purchases.

I don’t believe that mortgages should be exempt.

I don’t like that states will still have their host of taxes: income, property, etc., etc.,

I do think states and fed will increase fees AND charge sales taxes on them.

[Perdogg]

He also ignored the prebates.

[dvan]

"Didn’t read the full report but this summary doesn’t include Social Security and Medicare withholding and that alone is over 15%."

Plus how about state income, state sales taxes, and county taxes? Maybe they should just take all our income and supply us what they think we need to live on?