so are the people here familiar with the fairtax act? look up fairtax.org and discuss.
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Anonymous2006-03-21 4:04
>only under the current system, people are sending that cash overseas to avoid capital gains taxes, and making that cash flow work for other countries.
Can you explain this in more detail. It sounds like strawman tactics to me.
Here's an idea. Rich/high income people tend to be smarter. They tend to think of more ways to save their money. As a result they're the ones that tend to evade/avoid taxes. So punish them. The poor people barely have money to be taxed. They're not squirreling away money to foreign countries. They're keeping the money here. So now you propose a "fair" tax to punish them? Under fair tax poor people get less bang for their buck. That doesn't sound like equal treatment of all parties.