What The Proposed ‘FAIR Tax’ Really Looks Like
U.S. Rep. Earl “Buddy” Carter (R-GA) has introduced the FairTax Act of 2023. Much of the commentary on the bill, including mine, has been about whether it is a...
Abolish The IRS – Sort Of – Then What?
The Tax Reform Act of 1986 cut rates and did a good bit of simplifying, but it did not take long for complexity to be layered on. Where will the political will come from to not complicate the FAIR Tax? States with sales taxes have all sorts of exemptions and a tendency to sometimes declare sales tax holidays. I find it inconceivable that industries and interests favored under the income tax will not seek special treatment under the sales tax.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.