User talk:Sykko/fair tax

Re FairTax cheating

This would require collusion between the retailer and his suppliers. Collusion of very small individual sales such as flea markets or lawn mowers are not significant.

The FairTax costs less than the current income tax due to the fact that the number of points of collection are much smaller.

There is already a huge underground economy, with possibly 20 million illegal aliens in the country, not counting drug dealers and various other crooks. The FairTax would tax 50 million international travelers as well as our underground economy. Only people with social security cars will be able to receive prebate checks, so the boost given by the underground economy will be substantial.

Since income from investments are no longer taxed under the FairTax, there is a tremendous incentive to invest and save.

Also, since corporations will no longer have to worry about making decisions involving tax consequences, it would make the country more attractive to business. Business thinking about moving to another country would reconsider, and businesses that have already moved to China or some other country, would consider moving back.

There are billions of dollars in off-shore accounts that would, in a matter of months, return, according to former head of the Federal Reserve, Alan Greenspan. 69.6.163.35 01:12, 27 April 2009 (UTC)