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Taxes, we don't need no stinking taxes!
September 16, 2005 A buddy at the office recently turned me onto The FairTax Act of 2005. From what I have read the concept sounds pretty promising, a shake down of the current IRS system is definitely much needed. If you're not familiar, the concept as defined through the FairTax website: Simply put, the FairTax replaces the way we're currently taxed - based on our annual income - with a tax on goods and services. The FairTax is a voluntary "consumption" tax: the more you buy, the more you pay in taxes, the less you buy, the less you pay in taxes. There is also a best selling book that covers the topic The FairTax Book. So basically tax revenue shifts from pay check to consumption of goods and services, no more IRS, no more stressful April 15ths. I personally still have to do more research into this before I can form a final opinion, right out of the gate though, I have to say I'm very intrigued by what I've seen and heard so far.
posted by dK at 11:40 AM
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