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Author: joelcorley Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308541  
Subject: OT: Fair Tax (National Sales Tax) Date: 12/3/2004 3:40 PM
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Fools,

The Fair Tax proposal ( http://www.fairtax.org/ ) has been getting a lot of press time in the past month. ( http://news.google.com/news?q=Fair+Tax+Bush&hl=en&lr=&sa=N&tab=nn&oi=newsr ) A version of this proposal was introduced in the House (HR 25) in 2003 and is on the calendar for review in the Senate (S.1162). This proposal was a major source of mud slinging in the Congressional elections, but didn't receive a lot of press until recently.

Bush has indicated his willingness to sign some version of HR. 25 ( http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=108_cong_bills&docid=f:h25ih.txt.pdf ) into law to abolish the IRS and it's looking increasingly likely that it may actually happen. I want to know what every one here thinks about this idea and how you think it will hurt or hinder you and your finances.

This post is only slightly OT, because it will have serious implications for your savings, investments and your credit card debt, present and future. I want to know what you think those might be.

- Joel
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