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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
lonehalf Donating Member (273 posts) Send PM | Profile | Ignore Sun Oct-08-06 11:18 AM
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I originally posted this as a reply to another post but..
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...I'm posting it now because I would like it discussed here.

Maybe someone can add to what I know.

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I'm neutral about The Fair Tax it so far because I haven't had time to study it.

But I have read some and talked to Georgians about it.

Here's the basics (read for yourself though):

1) All taxes (income, payroll, corporate, etc) go away.
2) A national sales tax of 23% on all retail sales.
3) Every household would receive a check from the Government every month that covers basic needs.
4) The IRS would be abolished.
5) It would get the tax cheaters except the ones who go "black-market".

The supporters (mostly middle class and non-aligned ideologues) say it will be good for the entire world.
The opponents (mostly Liberals and Progressives say it will hurt the poor. They usually point out number 2, and not the other provisions.

Like I say, study it for yourself. Read the arguments of both sides, please.

It does have many supporters in Congress.

The bill number is HR25.

You can study it here and make up your own mind.

http://www.fairtax.org /
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