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The Fair Tax? Is that a massive regressive tax on consumption?
by CameronNemo 5y ago
The Fair Tax? Is that a massive regressive tax on consumption?
- zeroonetwothree 5y agoIt has a credit included to make it not that regressive. Compared to tax rates in states like Texas where the poorest quintile pays way more it’s not so bad.
- XorNot 5y agoThe complexity of the tax code is bound up in efforts to include "rebates" for different activities to offset regressive taxation events. When someone says "simplify" the tax code - well firstly, this has never happened. A simplification is an amendment, and the tax code gets larger - they've never actually managed to shrink the size of the law there. But then you get to decide: which exemptions and deductibles are you getting rid of? For who? Because if you want to simplify it, that's what's actually got to happen.