[TheBattman]

Pleading ignorance here - so please bear with me. Hopefully someone can enlighten me on how this would benefit me (and most all Americans):

So - if I am currently spending very little money (trying to get ourselves out of debt), under this plan, I would pay a relatively low percentage of my TOTAL income in federal taxes in a National Retail Sales Tax?

So my current expenditures outside of credit account & Mortgage payments would be -

1 - Utilities (Electricity, Phone, Cable, etc.)
2 - Groceries
3 - Medical insurance
4 - Medical expenses (co-pays and deductibles)
5 - Clothing
6 - Vehicle maintenance/Gasoline/etc.
7 - Home upkeep/maintenance 8 - Entertainment

Only time you pay federal taxes would be when you actually spend the money - thus any and all savings plans would be a sort of "tax-defferred" sort of plan...?

Could our Congress Critters & Senators POSSIBLY have the guts to do this? It seems so logical....

[alnick]

For more information about how a national sales tax would work, visit http://www.fairtax.org/

[scott7278]

The nice thing is that under the FairTax, Social Security and Medicare will continue to be fully funded -- no more Social Security Tax.

The huge burden will be removed from everyone, especially the self-employed. Best yet, prices aren't expected to rise with the FairTax implemented!

The 16th Amendment MUST be repealed for this to work.

[GoLightly]

I already paid taxes on my savings. Switching to a sales tax would mean I get to pay taxes on that same money again. Yeah, sounds fair to me, not.