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Old 09-25-2004, 01:37 PM
hoosier hoosier is offline
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Check out websites for "Fair Tax".

Check out websites for "Fair Tax".

This is a flat sales tax plan, popular with a bunch of Republicans and mentioned by Bush during the campaign.

It eliminates the regressive part that "hurts the poor" by giving everyone a monthly check equal to the sales tax on food-housing-necessities.

Currently, the working poor are paying about 15% in income tax, and another 15% + for FICA and Medicare (incl. worker and employee 'contributions').

If these taxes were eliminated (as the Fair Tax does), and a 23% sales tax instituted, they would come out ahead.

The sales tax also eliminates the underground economy. Even druggies who buy anything would pay sales tax.

I think there might be some movement on the Fair Tax in the new Congress.

PS: Do you think the current system helps the poor "accumlate wealth"?
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