Have you heard about Fair Tax?

Sounds good to me. Anything that gets rid of the silly IRS system is a great improvement. If I am allowed to make tons of income and not have to pay increasing tax rates, then this system could have a tremendous impact on our economy. Thanks.

Right now, not only do we have to pay taxes on the goods and services we buy but also income tax. It is getting so, that we are being double taxed, and at different rates according to our income. If you are up there, you get to keep fifty percent of your income, and down there most of it and yet we all have a basic deduction except for the sixty=fives and over many of whom never made enough during their lifetime, and for that, they get more. However, if most get a basic exception of say $7,000 a year, why can they not be taxed at the same amount for anything over that, whether it be 10 percent or 20 percent. One has to be rewarded for their industriousness not punished as is the case when someone is taxed at 10 percent, someone at 20 percent, someone at 30 percent and someone at 50 percent. That will also do away with sneaky loopholes since we will all be on equal footings.

Yes, I've heard about the Fair Tax Act, and I joined my local Fair Tax group here in FL. I get daily emails from all over showing which congressmen and which presidential candidates are in favor of the Fair Tax, important articles from all over the US, shows to listen to on the radio or to watch on TV, and news about meetings in my area. There are quite a few congressmen in favor of this bill, but not enough to get it passed yet. The thing that amazes me is that more Republicans than Democrats favor the Fair Tax. Former Arkansas Governor Mike Huckabee, a presidential candidate, is one of the few candidates who openly talks in favor of the Fair Tax. Unfortunately, too many people are not aware of the difference in the Fair Tax and a flat tax and totally get them confused or think they're the same. For anyone who wants to learn the facts, go to FairTax.org and check it out. Read the whole bill and see what it does, how it will affect us, etc. The Fair Tax will abolish the IRS...the flat tax won't. Keep that in mind. I'm totally in favor of it and only intend to vote for a candidate who backs the Fair Tax and puts the passage of that bill on their platform. Most importantly, remember that it only taxes new goods, not used goods. I don't buy new cars any more anyway, so...

I like what I read so far. We could save a bucket of money if we got rid of the IRS. It would be easier to know what we would pay, and how we would need to work and save to get along in the world. Thanks for this interesting post.

I have been hearing talk about this method of taxation for a long time. Hoewever nothing is done about it because the wealthy fight it tooth and nail. They have so many many deductions and loopholes now they would end up paying more.

I've seen it in the news too. And I think it's a really good idea to be honest. I think it would give tax payers a lot more security in their lives, plus a lot more stability as well. And I like the 10% tax across the board too. I hope it all goes through.

A number of countries all ready use this, I think Germany and some other European ones. There has been a suggestion that the U.K. use it as well. A rate of between 10% & 15% has been suggested, with no deductions of any kind, and everyone pays this percentage. The countries that use it say that it works very well, and there is no need for any punitive taxation at all. Earn $10,000 a year, you get to keep $9,000. Earn $1,000,000 you get to keep $900,000. Makes it seem fair to everyone. But there has to be no loopholes, (I think it also includes company tax as well). At the moment in the U.K. a lot of people (and companies)who are high earners pay very little in tax, and tax avoidence is very big business.

I have never heard of this before but it sounds better then what we have now and if they would do it like this and not change it once it was in effect . The taxes we pay now were supposed to be on the price of the item one was buying so you always knew the full price of what you were getting as some people don't understand all what holds tax and what doesn't are are not able to figure it out fast enough to figure out if they have enough money to buy what they want but when they put this in effect they changed it so that one who owned a buisness only had to do it this way if they wanted to and most in our area opted to not do this making it complicated for some . I believe if they are going to change something they should change it the way they say they are going to and not change it once it is effect and then confusing people .

I have long been an advocate of this 'fair tax', sadly I agree that it will never be put into effect. Too many powerful people would lose some money on it. But I sure wish it would pass into law in this land.

I never heard about Fair Tax. It sounds good so far. I'll have to check it out more later. Thanks for the information.

I've always felt that a flat tax on all purchases is the way to go.This would insure that everyone across the entire economic spectrum would pay taxes according to their life style and income. If you had the ability and income level to purchase a Yacht then you'd pay the tax percentage necessary to purchase the Yacht.If you only made enough money to purchase a Row Boat then you'd pay the tax on that. This type of system would put the decisions back into the hands of the individual tax payer.

And this came from the government? Holy cow! I love the idea! I think it's fair and good for everybody because everyone pays the same amount of taxes regardless of what they buy. I don't agree with being taxed two and three times for it's a bit much but this way it's only being taxed once which is pretty fair to me so yeah I support it.

Never heard of this before but thank you for bringing it to my attention. I was checking out the listings for my State and only 2 representatives support this organization. It really does sound good, but you know all thats shiny isnt gold! Theres got to be a glitch somewhere. I do agree that we pay way too many taxes and the government is in debt all the time. Politics is like running around in a circle and it really makes me dizzy! They are going to do what they want when they want, and allow us to vote and make us think we are doing something. I dont really think it matters and that what they decide is what goes. But all in all its a really nice idea.

I would absolutely love to trade income taxes for a 10% sales tax! When I work hard at my job, take on more responsiblity, and excel at my job, I'm rewarded with a raise. And then the government gets to take a bigger chunk of money from me! I would rather be taxed on my consumption. Consumption isn't necessarily based on your income, it's based on the lifestyle that you choose to live. So if you want a lavish lifestyle and choose to buy lots of stuff, then you can pay more of the taxes. Likewise, people that choose to live simple lifestyles shouldn't have as much tax burden. I think this would be much more fair to everyone.

sounds good to me but doubt it will ever happen!