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Fair Tax – Is It Fair? [AUDIO]

After their first introduction a dozen years ago the ideas of Fair Tax.org  continue to gain traction with Legislators in Washington and with the general public. According to their website the main points of the plan are:

1 The FairTax is revenue neutral at $0.23 out of every retail dollar spent.

2  FairTax lowers the lifetime tax burden for most Americans.

3  FairTax benefits retirees who depend mostly on Social Security.

4  FairTax preserves the overall progressivity of the federal tax burden.

5  FairTax dramatically improves the U.S. economy.

6  FairTax improves the international competitiveness of American producers.

7  FairTax promotes home ownership better than the current system.

8  FairTax simplifies tax compliance, thereby reducing tax evasion.

 

National Spokesman for the group, Doug Freidricksen, joined this morning to talk about then plan.[audio:http://k2radio.com/files/2011/06/fairtax.mp3|titles=fairtax]

 

“In switching from taxing income to taxing consumption and adding high progressivity via a rebate, the FairTax introduces many progressive elements into our fiscal system, removes one very regressive element (the payroll tax), and provides much better incentives to work and save.Switching to the FairTax raises long-run capital intensity, thus raising long-run real wages by 19 percent compared to the base-case alternative. The reform also generates major welfare gains for the poorest members of society, including those now retired and those yet to be born.”
Find out more today at www.FairTax.org.

 

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