The Fair tax plan is basically to eliminate all taxes except sales tax on the final product. No IRS, no company to company sales tax [so less advantage to move business away from US soil], so final prices should come down also if at every step no taxes have to be added to the final price. No tax of any sort except sales tax on the final sale. The estimate is about 23% tax, I think, to keep federal income where it is now. At the beginning of each month everyone, rich or poor, would be given a prebate [if that is a word] of the 23% taxes up to the poverty line. Spend only that and you essentially pay no taxes, spend more than whatever the federal poverty line is and pay more taxes. Not really any reason to hide assets or any way to find tax shelters as it is a tax charged on final sales of all goods [cant' recall if groceries are in this or not]. No big agency needed to do this, just a flat amount of cash sent to everyone - much like an extension of current social security but without the need for social security taxes. There is a pretty good book on the subject out there somewhere: "The Fair Tax" IIRC. You can expect the tax lawyers to be against it, and some other groups. I don't give it a snowball's chance at this point, but the idea makes a lot of sense. BillR
-----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Craig McCluskey Sent: Sunday, June 22, 2008 10:01 PM To: Mercedes Discussion List Subject: Re: [MBZ] More government waste On Sun, 22 Jun 2008 20:54:36 -0500 "Kaleb C. Striplin" <[EMAIL PROTECTED]> wrote: > flat tax = bad idea > > fair tax = good idea And the difference between flat and fair is? What makes one a good idea and one a bad idea? Craig _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
