Isn't that the only way that everyone pays the same tax?
2007-06-15 06:50:14 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
I don't think it will happen.
A big advantage is that the underground economy would be taxed.
A big disadvantage is that, even with the "prebate", the tax burden is shifted from high income earners to the middle class.
Just my opinion.
2007-06-15 07:05:52 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
No, neither the so-called "Fair Tax" nor the "Flat Tax" are truly fair. They result in a major tax break for the wealthy at the expense of the middle class and working poor.
Worse yet would be a tax where everyone paid the same tax. That would decimate the poor and most of the middle class while giving the rich the biggest tax cut in the history of mankind.
If you honestly think that any of these would be a good deal for you yourself, crunch the numbers using your own information. If you're like most folks, you'll discover that you'd be MUCH worse off with either of these nightmares.
2007-06-15 13:22:42 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Not in the least. Do you REALLY think that 100 Senators and 435 Congress Critters would keep their hands off such a program if it ever managed to pass ? The ink would not yet be dry on the legislation, and they'd be gathering in the corners of Congressional offices thinking up ways to exempt certain items and issues from taxation to 'help their constituencies'.
2007-06-15 09:03:19 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
You are referring to a Flat Tax, not a Fair Tax.
Fair Tax is an oxymoron.
Will we ever have a Flat Tax? No, too many fingers in the pie, son.
2007-06-15 07:45:57 · answer #4 · answered by Anonymous · 0⤊ 2⤋