One of the linchpins of the arguments against the FairTax is the supposed loss of the mortgage interest deduction for middle-income homeowners. The answer should look like this:
Not only are the benefits of the mortgage interest deduction (MID) still in place, the FairTax adds a mortgage principle deduction as well. That's something that the current system just doesn't offer. Let's take a look...
Under the current system, a taxpayer deducts personal exemptions for him/herself…Continue
In an artical on Fox News, conservatives in Washington are in disagreement when it comes to the Marketplace Fairness Act 68-27, proposing that internet retailers should collect sales taxes on the sales that they make across state lines. Senator Ted Cruz calls it a "mad bill" saying it puts too much of a burden on small businesses to implement. Reagan-era economist…Continue
Added by Nathanniel Martin on July 18, 2013 at 12:00pm — No Comments
Gary Johnson was interviewed on POTUS Radio yesterday, when the host asked him about the Fairtax. He was asked what would happen when the price of an item went from $100 to $123 overnight from day before Fairtax to day of Fairtax. A couple of blunders that Johnson made were quite glaring, especially in light of what would be the next caller's objections to the Fairtax.
One, Johnson didn't correct the host's price increase. We must be honest in that the price in the host's…Continue
Added by Nathanniel Martin on August 20, 2011 at 4:40am — No Comments