Great comments on The Fair Tax proposal


This comment was left on WalletPop, AOL’s personal finance blog. He was responding to a thread on hidden taxes and an ongoing discussion there.

Our current tax system is so complex that many of the taxes we pay are in fact, hidden from us. Consumers often rant about how big naughty corporations should pay their fair share of taxes. Yet the truth is that those taxes on corporations are actually paid by consumers. It’s just done in a convoluted way that obscures who’s really paying!

The comments relative to The Fair Tax:

These “tax the evil rich and evil corporations” comments are why liberals should not view the FairTax proposal as some Republican “scheme.” It couldn’t be farther from the truth.

It will fairly tax everyone but the poor (as defined by govt. poverty level figures – don’t get me started…) who will be COMPLETELY untaxed. The rich (whatever that definition is…) will pay more (assuming that is your misguided goal) simply by their higher consumption levels.

The monumental difference is that we’ll all happily be able to co-exist knowing we are all paying the same percentage and that no one is “slipping through a loophole” or getting some “special exemption.”

Under the FairTax we choose our own amount of taxes based on what we purchase. (that is, above the amount EVERYONE gets tax-free up to the amount of the poverty level through the prebate program) If the very wealthy want to conspicuously consume by buying jets and yachts I would say to them “Thanks for funding the treasury to such a large degree!” If someone of lesser means chooses to be frugal and save more rather than spend more I would say to them “Thank you for injecting more sorely needed capital into our economy and improving our woeful savings rate!”

Spend and get taxed more, or save and help the economy – either way the country benefits as a whole! But best of all, we could all walk around knowing we are all being treated the same so no one can claim the victim status or feel taken advantage of due to special interests that have completely corrupted our tax collection system.

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