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Redistributing Wealth, Simplified

Started by cordblomquist · 8 months ago

Itâs not fully clear what president-elect Obama plans to do on tax policy other than âredistributeâ and make those families making over $250,000 pay their âfair share.â But I was intrigued by his platform pledge to:
Dramatically simplify taxes by cons ... Continue reading »

4 comments

Marshall
8 months ago

The tax must replace the current income tax, not supplement it

That's the killer for me.
Unless it's coupled with a repeal of the 16th amendment, I won't support it.
Otherwise, no matter how good the intentions of the people drafting the legislation, in a few years we will have both.

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ron higgs
8 months ago

Check out the following links. All objections to the Fairtax listed here as "the bads" are answered at the following site.

http://www.fairtax.org/site/PageServer?pagename...

http://www.amazon.com/FairTax-Answering-Critics...

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Greg
8 months ago

Over the years I've saved a lot of money and have already paid income tax on it. If we abandon the income tax system for a consumption tax system, I'll have to pay another tax on that money when I spend it. In effect, the value of all my savings will be reduced by 20% or whatever the consumption tax rate is. I can't imagine many retired or wealthy persons thinking this is a good plan.

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