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.