Thursday, April 3, 2008

Fair Tax

I'm writing a paper right now, the topic of which is Taxation in Theory and in Practice. I decided to write on the Fair Tax. Over the course of reading up on it, I think it's a cool idea that won't get the support of any politicians. If the citizens want it, they're going to have to band together and demand it.

Basically, the Fair Tax is a 23% sales tax on all new goods and services which will replace all other Federal taxes. Note: you don't pay any tax on used goods (or used services???). The website will be more than happy to give you a laundry list of the benefits the Fair Tax will give our country. I read a good portion of the material on the website and decided to put my name on the petition to give "full consideration and debate on the floor of the House of Representatives and Senate" to the Fair Tax legislation. They need 100,000 signatures on the petition and currently have about 70,000. I don't think they'll reach their goal by April 15. Anyway, I figure that there's no good reason to keep it from being talked about on the floor of Congress.
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