> As I understand it, a national sales tax would tax "new goods" > bringing up the question of how one defines "new". 12 volumes of tax > code could be replaced by 50 volumes of goods definitions.
No, actually, it's very simple: goods and services sold to a consumer at the retail level, period. (somebody correct me if I remember this incorrectly from the book). > And then the problem with a flat tax is that it disproportionately > taxes lower income people and so you need exceptions for this and that > and pretty soon you have 12 volumes of tax code again. Absolutely not, and this is one of the biggest misunderstandings of the Fair Tax. Each month, at the *beginning* of the month, everyone -- *EVERYONE* -- receives an automatic "prebate" of the entire tax burden on their family up to the level of poverty. So if the definition of poverty for a family with two children is X, then 1/12th of 23% of X is pre-paid to the head of household for that family at the beginning of each month, regardless of their financial situation. This completely eliminates 100% of all taxes on everyone up to the poverty line. And banks are chomping at the bit to setup debit card accounts that the government can automatically drop these funds into. > And if you look at who pays taxes it's mostly rich folk: <snip> Under the Fair Tax, the rich will end up paying a substantially higher portion of the country's taxes, because it's entirely a consumption-based tax. And when you consider what will happen when offshore tax havens are eliminated through the Fair Tax, it gets even better. Really, you ought to read the book first. It's a quick yet engaging read, and it will explain away all your worries through straightforward logic and reasoning. Respectfully, Adam Phillip Churvis President Productivity Enhancement ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;160198600;22374440;w Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:252046 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
