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Financial Planning / Tax Strategies


Subject:  Re: FairTax Date:  9/27/2012  6:37 PM
Author:  billjam Number:  116696 of 129991

Wonderful idea if you've already made your multi-million dollar fortune or inherited it. All flat tax proposals I've seen exempt interest, diviidends and capital gains. The woriking guy getting along mostly on wages still pays. And a national sales tax really hits the poor and middle class hard. Proponents say they would rebate money to those below a certain income level. We don't replace the IRS with such proposals, we just change their function.

I might support a flat tax that covered ALL income but not the proposals I've seen put forward by Steve Forbes and others who get most of the income from investments.
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