Has anyone heard of the Fair Tax by Congressman John Linder?

Question

I have read The Fair Tax Book by Congressman Linder and Neal Boortz and I find it makes great sense. Does anyone have an educated opinion on the matter?

Answer 1

I also believe it makes a great deal of sense. The problem is that it will eliminate the IRS, it will eliminate the tax accounting and law industries, and it will eliminate all those federal areas that use a rate structure. These industries and individuals will fight it to the death. It also will eliminate thousands of pages of tax code - which if you call the IRS five times you will most likely get five different answers. The other issue is that states might not follow suit and will try to capture increased revenue. Since it is revenue neutral the taxes will be paid by those acquiring products. The poor and middle class tend to buy used so they would be spared paying taxes. The wealthy buy according to their wealth so they will pay more.

It is an idea that I can only hope moves forward.

Answer 2

Yes, we need the tax system reform were ranked 62nd in the world in collecting taxes. The IRS tax code is Swiss Cheese, and looppoles are legal tax ways to evade paying. Fair Tax reduce the opponities to cheat the system, and give economy a boost by getting rid of indirect economic behaviours in taxation. The amount of taxes would rise substandally because of the tax the fair tax doesnt require rocket science to apply unlike the IRS tax code.

Answer 3

i ought to extremely go with to ascertain their notion. previous straightforward tax proposals for a nationwide sales tax to me ought to punish the adverse a lot more desirable than the present equipment ( I doubt if that go back price as a lot because the poverty line ought to get to you very speedy). What must be achieved with each and every of the state and local sales taxes in view that in loads of situations it is a significant area of their funding supplies (ought to we in some places have a sales tax of 40%?) I agree the present equipment is a mess (I have worked at IRS and only the administration and workers there is reason sufficient to go with to remove the entire equipment) yet we ought to verify what replaces it is better. also authorities expenditures do bypass up what ought to we do then enable this sales tax to bypass as a lot as a daft factor? also we ought to do not forget that there are state, community and particular district income taxes and how the replace interior the federal equipment ought to effect those taxes.