The Republican candidate is fairly conservative - except when it comes to an ambitious plan for scrapping the IRS.

The Fair Tax is basically a sales tax combined with rebates that that will reimburse us for taxes on purchases up to the poverty line.

In addition to getting rid of the hassles and complications of income tax, it should also help the economy since there would be more encouragement to save and invest.

As a saver, I would love such a new tax system. But there are many concerns about it, and it hasn't been taken very seriously in Washington so far. I'm afraid the income tax will be with us for many years to come.

 

Submitted: Jan 7, 2008    Views: 199    Comments: 1    Likes: 2   


View Article: http://money.cnn.com/2008/01/05/pf/taxes/fair_tax.moneymag/index.ht...


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Johnny
(Unregistered)

This is basically a value added tax (VAT) although Huckabee and his moron advisors aren't bright enough to realize it. They also well enough educated to understand than VAT systems are inherently more burdensome than our current economic system.

Posted: Jan 8, 2008



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