With all of the talk lately of raising taxes to pay for universal health care and to reduce the national debt (which is a great topic for a future post), I’ve been thinking that there has to be a better way, and I think I have found one. I have been reading about the FairTax lately, two really good books The FairTax Book
What is the FairTax?
The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including:
* A progressive national retail sales tax.
* A prebate to ensure no American pays federal taxes on spending up to the poverty level.
* Dollar-for-dollar federal revenue neutrality.
* Repeal of the 16th Amendment through companion legislation.
