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FAIR TAX, OR FOUL?
December 11, 2007
Foul, says Howard Gleckman at TaxVox:
If this tax ever did become law, it would induce staggering sticker shock among consumers and massive evasion would follow. “Paper or plastic” would be replaced with a new question at the checkout line: “How much for cash?”
Even without the lobbying and cheating, policy experts say the rate could never get close to 23 percent. Don’t take my word for it. In 2005, President Bush’s Tax Reform Commission figured the rate would be at least 34%. The Tax Policy Center’s Bill Gale estimates it would be at least 44% and probably lots higher.
My take on the FairTax is here. For pro-Fair Tax news, try the Fair Tax Blog.
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Comments
A rare case where we agree on tax policy. I'm still not sure how the Fair Tax, even if it does work, would make anyone better off. Sure, everyone would feel better about their incomes when they're holding pre-tax dollars instead of post-tax dollars, but if the purchasing power of those dollars is also drastically decreased, how is it any more than a massive financial shell game?
We disagree greatly on the methods and reasoning, but I think we can both agree that society deserves, and in fact needs real tax reform, not just a game of hide and seek with government spending.
Posted by: KL Snow | December 11, 2007 11:02 AM
I am currently a student at Ivy Tech Community College, and I am studying Fair Tax. I have to say I agree with you Howard, if this Fair Tax becomes a law and would create massive sticker shock and make affording items for families with low incomes that much harder with the high national sales tax.
Posted by: FairTax Guy 4 | November 10, 2011 9:39 AM
I think it is time to change our tax system before we get any deeper. The I.R.S. should be eliminated and replaced with the Fair Tax. The name alone speaks for itself, we deserve fairness in this country. Something has to change,so, why not change for the better?
Posted by: Fairtax Guy#2 | December 8, 2011 9:05 AM