The FairTax Legislation

Recently, I purchased "The FairTax Book" out of curiosity and found that it was actually an interesting book to read.

As the name of the book suggests, it deals with the FairTax legislation (HR 25/S 25), a bill which is sponsored by Congressman John Linder. This nonpartisan legislation is a proposal to abolish all federal income and payroll taxes, replace them with a national retail sales tax, and finally repeal the sixteenth amendment of the US Constitution (The Income Tax Amendment).

In essence, the FairTax legislation would only tax you on the things that you purchase instead of how much you earn. It is hailed as a fair and efficient tax system which is also revenue neutral so the cost of goods will not change that much and the government still gets its money.

After reading about it, I find that I am actually in favor of switching to this tax system as it appears to make much more sense than our current one.

If you live in the United States, what are your thoughts on this legislation?


recommended sites