Replace All Federal Taxes on Income with the Fair Tax Act , HR 25
All Blog Posts Tagged 'consumption' (1)
What is this business about the fairtax collecting taxes from Government consumption.
An important thing to remember is that the fairtax replaces the income tax.
In order to understand why the fairtax taxes government consumption, we need to first understand how government collects taxes from government's spending under present income taxes. To simplify the discussion, imagine a group of people on an island. Every year, each chips in 22% of his income to pay for things important to the group.
One year the…
ContinueAdded by Keith Reynolds on June 14, 2009 at 9:30pm — 2 Comments
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