Today, I thought we would tax another look at the Fair Tax. I have posted about this topic before, but today, DebtFree4ever.NET has video of a proponent speaking about it's merits.
Monday, February 01, 2010
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6 comments:
Your Tweet said something about it "working in Texas." I am not aware of a Fair Tax in Texas. What did you mean by that?
The general idea of a Fair Tax usually refers to a sales tax on the federal level- that should replace all income and payroll taxes. States have different methods of taxation. Some have no sales tax, some (like Texas)have no income tax. Texas also has VERY high property taxes compared to some states. it's not like Texas just has a sales tax that covers everything.
I have researched the Fair Tax. I have read the book and I have listened to the CD's. I am very much in favor of it.
Greg -
Texas is the state that (actually 1 of 8) that is closest to it. So I used that as an example. Texas property taxes are less then Kansas and there is no personal property taxes (cars, boats, etc) in Texas unlike in Kansas where you get taxed on those things also.
Edie -
I've read the book/seen the DVD to. Had the copy here for about 3-years.
I don't think the Fair Tax would not be so favorable for most Americans who are already hurting because of the sluggish economy.
Thanks for the post, the fair tax certainly seems like a fair act to help deter people from using so much credit. My client Assured Guaranty strives to help solve these issues by utilizing its risk management and insurance policies.
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