Thursday, August 26, 2010

On the Fair Tax

The Fair Tax is explained clearly here, along with its effects.

As Ticker notes, both the LeftOWackies AND the RightyWackies hate it.

To me, that's a feature, not a bug.

What is The Fair Tax? First, a replacement for all Federal Taxation on incomes. Corporate, personal, FICA, Medicare, Unemployment. All Federal Taxes other than tariffs and imposts are replaced with a national sales tax.

Lots more, all food for thought, at the link. And he makes it clear that it will kill off "outsourcing."

1 comment:

neomom said...

Taxing consumption is a much better model than taxing production.

No loopholes.

There is, however, a risk of a black market popping up, but we have lots of avoidance now too.