Fair Tax- more discussion on what it all means

2 comments ↓

#1 Ethan Van Brunt on 05.03.08 at 12:39 pm

Hey Guys,
Very intriguing discussion - I want to read the book(s) now. I’m a fair tax fan because I REALLY HATE doing my taxes!! Not a huge fan of the IRS either I have a question: How do they incentivise charitable contributions with the new system?

Thanks for the brain exercise,
Ethan

#2 Justin on 05.03.08 at 2:01 pm

Ethan,

I’m pretty sure that they incentivise charitable contributions by not making you pay the fair tax on that contribution… which is pretty good.
The catch in this system will be deciding what does and doesn’t qualify at taxable under this system because you know that every pet project is going to want tax-exempt status and washington lobbyists can figure out a way to exempt their thing… like prescriptions or baby bottles…
But the essential idea, which I think is good, is to make NEW stuff taxed and USED stuff not taxed. Thereby encouraging recycling and reusing things!

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