A close reading of the recent literature produced by the advocates of the FairTax shows that they have backpeddled on many of their most far-flug claims for the merits of the plan. But they still aren’t admiting just how terrible this idea is or how it won’t reduce but increase the tax burden. A true tax reform would repeal, not replace the income tax. The IRS should be gotten rid of, not renamed. Tax reform should reduce taxes, not be revenue neutral. Government theft of the wealth of its citizens should be abolished, not adjusted. And no, the fair tax plan is not a step in the right direction. Full Article.
Source link: http://archive.mises.org/5726/the-fraudulent-tax/