We’ve talked about the fair tax a few times this year, here, here, and here.
The proposed change would be an enormous boost for America and it would be remarkably fair to individuals at all parts of the socio-economic spectrum. But it would put a lot of lobbyists out of work, so it is going to continue to face great opposition.
Boortz is on a huge book tour, and surprisingly the idea seems to be gaining some steam, at least among real people. We’ll see what it does in Congress.
--James Jewell
The FairTax would create a universal, explicit, and large tax penalty on those unable to buy a home. It would redistribute many billions of dollars upward from renters to homeowners. While homeownership would increase - rational renters will scramble to buy homes under this tax - it will also create a permanent underclass of renters paying a steep tax penalty for the privilege of renting the roof over their head. The FairTax will create Two Americas.
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