What are your feelings on the fair tax?
The fair tax is a concept written about by neal boortz and congressman john linder. it provides for the elimination of the irs and all withholding taxes and replaces it with a 23% national sales tax on all goods/services. what do you think about it? (personally, i love it!)
Asked By: terry h - 11/25/2007
Best Answer - Chosen by Asker
The FairTax has my full support. For those who think it hurts the poor more, you haven't studied it enough to argue. There will be a "prebate" sent out monthly to cover the amount of taxes that would be paid on a poverty level income... More
Answered By: John H - 11/26/2007
Additional Answers (6)
I love it. I think it is very very well thought out, and a great answer to the many shortcomings of our current system... More
Answered By: falcon - 11/25/2007
A fair tax must be lower than the present tax and not high as 23%.
Answered By: FRAGINAL-NOYPI - 11/25/2007
I love the idea, but worry that 23% would have a negative affect on sales. But, ...anything is better than what we have now.
Answered By: CV59StormVet - 11/25/2007
Sales taxes are never "Fair" to the poor. If you are barely making enough to get by, you are spending 100% (or more!) of your income on goods/services. If you have enough money to save stuff, you are of course spending less than 100% on good and services. If you're making so much money that you can't possibly spend... More
Answered By: ye_river_xiv - 11/25/2007
Replacing income taxes with consumption taxes is inherently regressive. Poor people have a higher propensity to spend, and so wind up paying a higher % of thier income in taxes. As such it is even more inisidious than the proposals for flat income tax rates... More
Answered By: Sageandscholar - 11/25/2007
Many countries have some version of this type of taxation which is also called a Value Added Tax (VAT). One of the upsides is that it does not tax profits made from investing which is inherently good for the economy and encourages a positive behavior which is saving money. If one is frugal, and invests his or her money... More
Answered By: I_Walk_Point - 11/25/2007
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Shop Online or Sign Up To Sell AVON & Earn Fast Cash Today!
Click. Search. Apply. Free!
Free for Job Listers and Job Seekers!
Other Career Questions
Do most mechanical engineering jobs offer job security?
What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.