The Fair Tax is a consumptionbased tax system from "summary" of The Fair Tax Book by Neal Boortz,John Linder
The Fair Tax is a consumption-based tax system. This means that instead of taxing income, the government taxes what people consume. It is a simple concept that can have a big impact on the way taxes are collected and the economy as a whole. By shifting the tax burden from income to consumption, the Fair Tax eliminates the need for the complicated tax code that we currently have. This means no more deductions, credits, or loopholes to navigate through. It is a straightforward system that everyone can understand and comply with. One of the benefits of a consumption-based tax system is that it encourages savings and investment. When people are not taxed on their income, they...
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