Posted by
HvySlpr on Wednesday, September 10, 2008 2:03:14 AM
Fair Tax: The Truth: Answering the Critics
Neal Bortz and John Linder
I have to admit that prior to reading this book I was ill-informed on the overwhelming benefits of the FairTax. I was, however, schooled in another tax reform/overhaul plan: the Flat Tax (Steve Forbes). What transpired during the reading of this book (a transformation of sorts) came with an appreciation of the huge amount of research done by, not only the authors, but from the grass-roots movement and everyday supporters of this much-needed reform and a realization that the Flat Tax just isn’t good enough.
My brother actually turned me on to the FairTax just weeks before I started reading the book and for that I am eternally grateful. I don’t believe that most people who criticize the FairTax have read this book, as it takes on both serious and dubious claims and questions from critics in a comprehensible, fun, and intelligent rebuttal. For those who don’t know what the FairTax is, I believe a short description will be enough to entice you sufficiently, sparking your interest to do some honest research on the subject.
The Fair Tax calls for an abolition of the Federal Income Tax, the Payroll Tax, estate taxes, corporate taxes, gift taxes, the death tax, the capital gains tax, and the Alternative Minimum Tax, while simultaneously ridding the American people of the burdensome task of completing tax returns to the tune of $192 billion a year (Tax Foundation) and repealing the 16th Amendment. The FairTax is not a new tax, but a revenue-neutral replacement of the currently outdated, unfair, confusing, and extremely long (9 million words) Federal Tax Code, with a simple consumption tax of 23% for all goods and services.
The authors do a great job of explaining their proposal (HR 25 & S 1025) in simple terms, in a relatively short book, while intellectually countering the opposition. A complete overhaul of the tax code is an idea that people on both sides of the political aisle can stand behind and an undertaking that is worth every ounce of sweat…like it or not.
P.S. I would love to debate this subject if anyone has any doubts, concerns, apprehensions, thinks the FairTax is wrong, or has been lied to about what the FairTax means.