4 ms·

Can you explain how this is different from the FairTax and why a sales tax style VAT would be better?

• run4yourlives 16y ago
  In all forms of sales tax, the devil is in the details. The differences are not in the concept but how one chooses to administer the particulars. Where and if you choose to credit low income, what "sales" you choose to tax or not, and the overall tax rates themselves. FairTax, in my personal opinion isn't the best example of where to draw these lines. It is rightly criticized for that, but that says nothing about the fact that overall, taxing consumption is a better idea than taxing income - a move that was largely bred from the need to fund a massive increase in government spending. A tax that allows for funding of government programs, encourages the creation of wealth and the growth of personal income and discourages rampant consumerism (as in buying things you can't afford - and having prices bubble accordingly) is a much "fairer" system in my books. I discount a lot of the notions of this type of system being inherently regressive because that argument insinuates that the current system is not. I believe Mr. Buffet quite aptly supported this assertion with real numbers a few years back.
  • kgroll 16y ago
    I'd be really interested in seeing the numbers from Buffet's assertion. Could you provide a link please? (Thanks!)
    • run4yourlives 16y ago
      http://www.timesonline.co.uk/tol/money/tax/article1996735.ece http://www.timesonline.co.uk/tol/money/tax/article1996735.ec...