Nobody will be able to hide from the FairTax. The cost to you will be less because everybody will pay, even the trillion-dollar underground, criminal, drug, prostitute and porn economy. As it is now, these people deal only in cash, so they don't have w-2 forms and don't declare their income as taxable. Well, now it will be different: every time they buy gas, groceries, clothing, a new car, new boat, new yacht, new house, etc., they will be paying their fair share of taxes. There will be no way around it.
Even the illegal aliens will have to pay the FairTax. They have to eat too. They have to find work and if they get paid cash under the table, it won't matter any more because they have to eat, they have to have a place to live, they have to have transportation, they have to have medical care, they have to have clothing. And every thing they buy with that money will be subject to the fair tax, with the exception of used goods.
Right now, the government gets no taxes at all from all of these underground, under-the-table people. But think what 23% of a trillion dollars will add to our economy - that much less that you will have to contribute to keep our government fluid.
Tourists are another source of income that will not be overlooked. And we will see more tourism because our cost of goods will have gone down to more affordable levels after all the hidden taxes are backed out.
The burden will shift from the middle class (I hate that word) to all classes of people. We will all finally be truly equal.
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2 comments:
Not that we're jumpin' for joy that ALL these taxes will go for pet projects of our elected.
But what consolidating the source of taxes will do is provide ALL taxpayers with the knowledge of what their government really costs!
And, since the rich WILL pay their FAIR share (as will all other income segments), the pol's will need to become more accountable to the taxpayers - without the distraction of class warfare or hiding taxes in prices.
You got that right! It's nice to know there is someone out there reading this blog. Pass it on to your friends and neighbors. We might pick up some new grassroots support.
Bobbie
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