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 humorist-workshop

FairTax


Question Posted Tuesday June 26 2007, 5:50 pm

I just heard about the FairTax. I looked it up on WikiPedia, but it's so confusing the way they word everything.

Can someone please explain to me what the FairTax system is, and how it is different than the tax system we have now? And which one is better?

[ Answer this question ]
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Maybe give some free advice about: Personal Finance?

theymos answered Tuesday June 26 2007, 8:32 pm:
It changes everything into sales tax. So instead of the (around) 6% extra you pay for goods, it could be more like 25%. So people who buy more pay more. In the current system, rich people actually have to pay *less* taxes than the rest of us, this will reverse that. Our "representatives" are all filthy rich, so don't expect this to happen any time soon.

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