Wealth redistribution will be more equitable from "summary" of The Fair Tax Book by Neal Boortz,John Linder
The Fair Tax proposal is a revolutionary way to change the way we tax ourselves. One of the key benefits of this new system is that it will make wealth redistribution more equitable. But what does this really mean? It means that under the Fair Tax, the burden of taxation will no longer fall disproportionately on the shoulders of the middle class. Currently, our tax system is riddled with loopholes and special interest exemptions that allow the wealthiest among us to pay a lower tax rate than the average American. This is not fair, and it is not sustainable. The Fair Tax levels the playing field by eliminating all federal income, payroll, and estate taxes, and replacing them with a simple, transparent sales tax. By shifting the tax burden from income to consumption, the Fair Tax ensures that everyone pays their fair share. This means that the wealthy will no longer be able to exploit loopholes to avoid paying taxes, and the middle class will no longer bear the brunt of the tax burden. Instead, everyone will contribute based on their consumption, making the system more equitable for all. Under the Fair Tax, everyone will receive a monthly rebate to offset the cost of the sales tax on essential goods and services. This means that lower-income Americans will actually see a net benefit from the tax system, while the wealthy will pay more based on their consumption. This progressive feature of the Fair Tax ensures that wealth redistribution is fairer and more equitable for all Americans.- The Fair Tax is not only a simpler and more efficient way to collect revenue for the government, but it also ensures that wealth redistribution is more equitable. By shifting the tax burden to consumption and providing rebates to lower-income Americans, the Fair Tax levels the playing field and creates a fairer system for all.
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