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<div class="ubbcode-block"><div class="ubbcode-header">Quote:]and this seems a lot like the VAT used here in the UK[/QUOTE]

Nope, nothing like a VAT (value added tax)....thank goodness....heck, our present lousy income tax system is better than a VAT!
 
This would be an embedded sales tax on NEW goods and services, and would be a revenue neutral substitute for the income, Social Security, Medicar and "death" taxes. HR-25 eliminates the supply chain tithings and terefore will allow reduction of about 25% in the manufacturing cost of things. Result would be a net effect of paying the same price for about anything as we do already, with only the individual state sales tax as an add-on. Used items are exempt, to include houses, CARS, etc.

May be "too good to be true" in that not enough people are actually learning about it and screaming at their representatives! It has been mis-represented in a lot of the coverage it gets because the people deriding it haven't bothered to either read the book or the bill, and are believing it to be a VAT or an ADDED tax of 28~30%. You can bet there will be some incumbent politicos quaking in their Gucci's if it gets the ground-swell of attention it deserves, and for whatever reason (lobbyists for tax attorneys would be my best guess) they are against it... So far the answers I've received from my reps has been the "form letter" thanking me for my interest in the government and tax reform issues. Noncommittal jerks. One has "turned" and is now a supporter. This is non-partisan and in keeping with a NEED to "fix" the lumbering burdensome tax laws now in place. It's gonna change, but the "flat tax" is not flat and the IRS stays in place to increase it whenever they (& Congress) choose. And April 15th will still be a mini doomsday for the rest of us. That one SUCKS comparatively.

The "fair tax" has been studied by MANY economists, other experts. The way it got its name was from most of them after studying it, saying: "This is fair!" It will WORK, it just needs to be implemented from THIS end.
It's simply another peaceful revolution, we do it regularly anyhow. /bcforum/images/%%GRAEMLIN_URL%%/thumbsup.gif
 
Across the street from the candidates' so-called "debate"... wonder if there'll be any mention of Fair Tax legislation? /bcforum/images/%%GRAEMLIN_URL%%/devilgrin.gif
 
Former Arkansas Gov. Mike Huckabee:

"We've had Congress that's spent money like Edwards at a beauty shop. And it's high time that we have a different kind of tax structure, and the FairTax would get us there."

It went unnoticed, apparently. And not sure he's a "real" contender anyhow.
 
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