Give your opinion on the fair tax, if you have not read it do not respond!?

www.fairtax.org

"What is the FairTax plan?
The FairTax plan is a comprehensive proposal that replaces all federal income and payroll taxes with an integrated approach including a progressive national retail sales tax, a rebate to ensure no American pays federal taxes up to the poverty level, dollar-for-dollar revenue neutrality, and the repeal of the 16th Amendment.

This nonpartisan legislation (HR 25/S 25) abolishes all federal personal, gift, estate, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes and replaces them all with one simple, visible, federal retail sales tax 鈥?collected by existing state sales tax authorities.

The FairTax taxes us only on what we choose to spend, not on what we earn. It does not raise any more or less revenue; it is designed to be revenue neutral...."

I've read it. It's only slightly less confusing that Title 26 currently is. And there's just as much room for fraud and tax evasion with it as there is with the current system -- maybe even more, actually. It assumes (grossly incorrectly, IMHO) that all transactions are "on the books". It's tough enough for the states to keep a handle on sales tax collections now but if the tax rate soards to 25% or so, the incentive to go "off the books" and save huge amounts of $$$ will be very high.

In the end, I'm not impressed.

I'd like to see some modifications. I believe the poverty level is a little low and that amount should be raised. I am also quite interested in this because it encourages savings (at least at first look).

I am more interested in a flat tax, or a progressive tax. The other problem I have with this is it increases the burden on small business owners as far as reporting, collecting, and forwarding the tax revenue.

The Federal Tax Code in the USA is a burden for most tax payers due simply to the amount of loopholes, deductions, and regulations involved (not to mention having to be a lawyer to understand it).

Fishy. The benefit seems to go directly to the very wealthy and corporations. Already adept at avoiding to pay taxes these two groups will find very solid and excellent measures to foist the bill for government and other expenses on the middle class, who are indeed the backbone of our economy. I don't like it.

OK so we have relief for those in poverty. Good. Now what about the middle classes? Why should we fund the wealthy? There are only so many consumer goods the wealthy can buy. They pay out a smaller proportion of their income in sales taxes. Those of us who earn a living wage (my wife and I are at the top end of the 15% bracket just now) will pay far more than our fair share. My effective rate is 8%. Why would I wish to double my tax bill. Why would millions more wish to do so? What benefits are there for society? Fair tax proponents never mention that. Nor do they mention the widening gulf between corporate executive salaries and "shop floor" wages, even when productivity has been on an upward trend for decades. The argument centers around nonsense about entrepreneurs being able to invest in the economy. It fails to consider how many jobs have been outsourced abroad.

I agree with Bostonian, especially about the complexity. The Fair Tax - get rid of the hard bit in the title and the rest is easy! It is not fair, it is just as complex and just as open to abuse. It will never work.

I think it is a great idea and I hope people get more educated about it so they can tell their congresspeople and senators to vote for it in congress so it can be passed and everyone will be richer and happier.