I'm not sure how many of you have actually looked into this idea of a Fair Tax, but its quite interesting. I'm by no means an economist so I have no way of knowing whether this will actually work or not, but the very thought of keeping 100% of what I earn makes me a little giddy. I know there is still a lot of debate to be had on this whole topic and I can't wait to hear it.
Some of the things I'd like to get clarified is exactly what percentage of tax would need to be applied to all sales to make this work. The two numbers everyone tosses around are 23% and 30%. The other thing that I'd be interested in hearing more about is the effects of "tax evaders." There will certainly be businesses who will try and cheat the system. So what affect on our economy would there be if 2% of the businesses cheated? 5%? 10%? Hopefully there will be some good discussion on all of these things as we move forward.
Some background from the organization who is supporting it:
http://www.fairtax.org/site/PageServer?pagename=about_main
http://www.fairtax.org/PDF/FairTax-Fundamentals_and_facts-070122.pdf
I have found a lot of articles talking about the Fair Tax. Along with getting background information I found it helpful to read what the real pundits thought. I've found that there seems to be more opposed to the idea of a Fair Tax than there are that are for it. However, I rarely ever agree with the mainstream, for whatever that is worth. The Tax Foundation has a great collection of articles for and against the Fair Tax. Here is a few I found on my own as well.
For:
http://www.realclearmarkets.com/articles/2007/12/the_fair_tax_is_about_economic.html
http://online.wsj.com/article/SB119863013677849835.html
Against:
http://money.cnn.com/2008/01/05/pf/taxes/fair_tax.moneymag/index.htm?section=money_latest
http://www.edmondsun.com/opinion/local_story_005224038.html
http://www.ncpa.org/sub/dpd/index.php?Article_ID=15437
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