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Flat Tax or Fair Tax?

mjohansen Wrote: Jan 31, 2013 1:36 AM
I agree with pretty much everything you said. But I think there are two important advantages to the Fair Tax (I hate that name, by the way, so obviously propagandistic): 1. By taxing spending rather than income, it neatly sidesteps issues like tax-deferred retirement savings -- there's no need, ALL income is tax-deferred; capital gains -- non-issue, you don't pay until you spend the money; inheritance tax -- you can pass money to your children tax free, but they pay when they spend it; etc. 2. It reduces the number of people who have to deal with paying taxes and filling out the forms to just people who sell retail. Most Americans would no longer see a tax form.

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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