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Flat Tax or Fair Tax?

Travelwise42 Wrote: Jan 31, 2013 9:01 AM
My understanding is that besides the ease of collection the Fair Tax eliminates all other taxes. It also gets the underground economy paying...of which there 100s of thousands! Drug dealers, hookers and pimps, burglars, shade tree mechanics, baby sitters, tutors, self-employed Musicians and on and on...No loopholes! If Bill gates buys a $7 million yacht he pays 23% tax. if a self-employed musician buys a $400 trailer to haul his gear, he pays 23% tax. A very simple way to tax. And we immediately get rid of the IRS and their bullies! No more income tax.
george293 Wrote: Jan 31, 2013 9:46 AM
Exactly - the Fair tax is a better choice than the flat tax IMHO - either would be better than the current tax nightmare

I’m at Hillsdale College in Michigan for a conference on taxation. The event is called “The Federal Income Tax: A Centenary Consideration,” though I would have called it something like “100 Years of Misery from the IRS.”

I’m glad to be here, both because Hillsdale proudly refuses to take government money (which would mean being ensnared by government rules) and also because I’ve heard superb speeches by scholars such as Amity Shlaes (author of The Forgotten Man, as well as a

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