Fair Tax

[jelli]

Do any of you know anything about this 'fair tax' plan that some of the candidates (huckabee) want to propose?

 

[jag4life]

http://money.cnn.com/2008/01/05/pf/taxes/fair_tax.moneymag/index.htm?section=money_latest

Basically a national sales tax. I think (not sure) this would be in addition to what you pay in local sales taxes.

 

[jelli]

From what is explained in the cnn article. I don't see how this fair thing will pass.

 

[cat daddy]

I first heard about the Fair Tax a few years ago. I checked out thier website at the link below.

www.fairtax.org

 

[Da_Sperm]

So this is basically another level of sales tax, but eliminates the IRS and the federal taxes that we pay?

This would hurt tax payers who seek Tax Cuts and deductions.

 

[Justin]

So this is basically another level of sales tax, but eliminates the IRS and the federal taxes that we pay?

This would hurt tax payers who seek Tax Cuts and deductions.

I don't think you, or I, want to imagine the amount ot sales take that would be levied to even make up the federal money that we would pay.