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The Tax Code and why 'Fair Tax' is Horribly Unfair

10
Buck11/04/2011 11:47:06 am PDT

re: #8 ausador

Why not just simplify the tax code and eliminate all these special interest write-offs and loop-holes while maintaining a progressive tax standard at lower percentages? That way everyone would at least pay a little something in to the IRS on any earned income?

No, there are many in the underground economy that would still be missed.

The national sales tax Idea is a completely bogus and entirely regressive tax in that it only taxes money spent to buy goods. Poor and lower middle class families required to spend 100% of their income week to week just to get by and pay the bills would have to pay tax on every penny they made. Those making enough money to sock some or most of it away in a bank account or investment would not have to pay a penny in tax on their savings/investments.

I explained how the poor could get a refund on that tax paid. This is actually being done right now in Canada. It works.

Sooner or later the money gets spent. Yes they can save the money for a few years, but it does not spend forever in the saving account. It gets spent, and then taxed….