Re: Fair tax. 23 cents tax on every sales purchase. What do you think of it?
 

My guess is that many Villagers are on a fixed income and "luxury items" is a very relative term. A 30% sales tax on items here in FL if my calculations are right under the Fair Taxfor an upgrade in a television set to HD here in the Villages might be out of reach of many people.

Re: Fair tax. 23 cents tax on every sales purchase. What do you think of it?
 

Tal, Have you read the book?

Re: Fair tax. 23 cents tax on every sales purchase. What do you think of it?
 

One has to remember that the fair tax will replace federal income taxes (including corporate taxes and capital gains taxes), as well as payroll taxes (including Social Security and Medicare taxes), gift taxes, and real estate taxes, property taxes, gasoline taxes, and scores of other taxes that you now pay for. And if you bought used items, cars, furniture, etc., you don't pay any tax at all on the purchase. Add all these savings up and upgrading to an HD television may not be all that bad.

Re: Fair tax. 23 cents tax on every sales purchase. What do you think of it?
 

No. I have not read the book.

Re: Fair tax. 23 cents tax on every sales purchase. What do you think of it?
 

I also think if we ever got the fair tax plan,
Car dealers and etc., would offer incentives to the consumer for purchasing new cars.
Like they do now with their 0 interest rates.

Re: Fair tax. 23 cents tax on every sales purchase. What do you think of it?
 

I fear that Russ, Steve, and others are correct in that there would be too much opposition to get this implemented. Rule # 1 of government is "Protect thy rice bowl" so everyone is going to fight it.

Re the increased price on new luxury goods, like Tal's HDTV, in theory the elimination of the many taxes paid throughout the production, shipping, and sale of the item would be reflected in a lower pretax price. The key is that all those taxes must be eliminated for the system to work. With the economic and social class warfare this country is now experiencing, I don't see how the program could ever muster enough universal public support to be implemented.