The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: FairTax||Date: 9/27/2012 3:45 PM|
|Author: JAFO31||Number: 116687 of 119693|
mrgoo: "By no means am I trying to create a political debate what I was curious what folks think of a flat sales tax being sold as a FairTax. For reference check out: http://www.fairtax.org/site/PageServer?pagename=HowFairTaxWo...... "
I am with Peter, the question alone is political.
I think FairTax has multiple problems:
1. It disguises its rate as 23% all inclusive, when it is really a 29.87 sales tax rate.
2. It will require a Constitutional Amendment. no easy task.
3. It is very regressive.
4. It relies on a lot of untested assumptions regarding its revenue neutrality.
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