By the way, I’m a CPA and am all for the fair tax. Yeah, my tax return practice will be history, but there will be other ways I can use my talents. It’s not about making certain people happy but what is best for the entire country.

And, just think about the money that will be saved by abolishing the IRS. Yeah, there will need to be more sales tax audits and so forth, but nothing along the scale of the IRS.

Maybe those charts are already out there if so please let me know where to find them.

Thank you, Douglas Myers

Do yourself a favor, and do the research on the net, and read what the nay-sayers have to say. Then get the new book “Fair Tax: The Truth” by Boortz and Linder.

From what I’ve seen, most of the people that argue against the FairTax fall into one or more of the following categories;

1.) They have an agenda that would be compromised by implementation of the FairTax. These are mostly people (career politicians, lobbiests, etc.) that want to maintain the locus of power in Washington. By eliminating the existing tax code with all it’s exemtions and penalties for “undesired” financial behaviors, it returns economic power to the folks that earn the money. That threatens a lot of people.

2.) People that benefit from the current tax situation. This would include people, that for whatever reason, aren’t paying Federal taxes (those in the underground economy, those that use exemtions in the tax code to avoid paying Federal taxes, people with their money overseas that live here, etc.)

Most of the arguments presented by those in the above categories rely on changing the FairTax to something else like a VAT or a flat tax, of which it is neither.

3.) People that haven’t studied the FairTax and are just repeating information they get from those in the above categories.

“FairTax: The Truth” examines the fallacies that opponents use to attack the plan, and shows the flaws in each of them. I believe you will find your research humurous , enjoyable, and rewarding.

And I am reading more on Fair Tax.

Besides, a lot of the large corporations get subsidies and special tax breaks anyway. They don’t really need further tax incentives. I can see how such a structure would help small and medium sized businesses, though.

Since US corporations no longer pay income tax, they don’t have to pass that expense on to their customers, thus eliminating the disadvantage they have been operating under against overseas competitors. US exports go up and the trade deficit goes down.

Since there is no longer an income tax to pay, many corporations that located overseas to avoid the expense, relocate to the US to take advantage of the more capable employee base, creating more jobs, and the unemployment rate drops drastically.

Likewise, foriegn corporations that found a slight advantage overseas now see those tables turned. Companies like Daimler-Chrysler decide that it is now advantageous to locate here, and closes the German offices (located in Germany because of the repressive tax structure imposed by the IRS). Even more jobs and lower unemployment.

All those people that sent their fortunes overseas to avoid paying taxes on their earnings and estates bring that money back to the US and invest it in US companies.

Still need more?

It’s even better than getting a big fat raise, because you don’t have to pay income tax on ANY of it.