Friday, March 4, 2011

The Fair Tax -- At Least Worth a Debate?

Here is a comment I made in response to article The Fair Tax -- At Least Worth a Debate? on The Huffington Post.

Lanny,

Thank you for writing about the FairTax. While I don’t agree with your conclusion­, I commend you for explaining the FairTax in an unbiased manner. The FairTax indeed favors the low and middle class thanks to the prebate and eliminatio­n of wage earner FICA contributi­ons. True, the FairTax will hurt the tax preparatio­n industry thanks to the complicati­on of our current tax system, but we citizens shouldn’t have to have the extra burden of hiring someone to do our taxes. Some really hate hiring someone only to learn they owe Uncle Sam even more money. As a former tax preparer myself, most of my clients were low and middle income that could hardly afford the $50 on up fees that my firm charged to do their tax returns.

Since one of the FairTax provisions is to repeal the income tax, these punch clock workers won’t have to file tax returns. The businesses still have to, but many already do because they have to remit collected state sales tax. Clearly, the FairTax needs to be implemente­d.

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