Posted on December 20, 2009 at 12:30pm
The FairTax is a consumption tax in the form of a national retail sales tax on new goods and services. It is designed to replace "federal income taxes including, personal, estate, gift, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes." The FairTax would also abolish the IRS and repeal the 16th Amendment.
The elimination of the 16th Amendment, the IRS, and all those taxes sounds like a great idea that all free market economists and… Continue