Of course the Fair Tax sounds good, but can it really be implemented? As The wealthy spend more dollars in a year than the poor so they would pay more tax (unless they are misers). But there is a significant amount of the voting public that feels the wealthy pay a higher rate than the poor so it will be hard to get such a tax approved.Some thoughts:I wonder if a flat tax would stimulate a black market?A flat tax is regressive in that a higher percentage of the income of the poor would be taxed than for the wealthy.He who has the gold rules which is why we have such a complicated tax system to start with. As soon as one segment of the populace gets a break we start the slope towards a more complex tax system.Would it be fair for someone who earns a million dollars a year but chooses to live like the poor pay very little tax?brucedoe
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra