The 50 Reasons I Support the Fair Tax

"# It allows workers to keep 100% of their pay, with nothing withheld for the IRS or for Social Security and Medicare payments.

# It is revenue neutral with the present income and payroll tax system, funding the federal budget at current levels.

# It shifts the tax to consumption. Records show that consumption is more stable than income, therefore the tax revenue stream is likely to be a more stable and predictable amount.

# It is progressive, a “prebate” of the tax amount up to the poverty level is given to everyone. This means that those spending below the poverty level have a net gain because the “prebate” exceeds the amount paid in taxes. (Under the present system the working poor pay the 7.65 percent payroll tax even if they get a full refund of income tax withheld.)

# It doesn’t tax pre-owned items – clothes, cars, homes. Only new items are taxed when sold by a business to an individual."

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The rest of the list of reasons is at the linked site. I like the sound of it, but I'm sure big government will poop on it.

(spotted on FARK, check out the ton of comments on this article here.)
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