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How about some REAL tax reform?
I subscribe to RealTown but I rarely if ever post anything there. Today one of the readers asked about something he had heard from former Minnesota Governor, Jesse, Ventura, about eliminating the IRS and establishing a national sales tax. Very clearly, a few of the people who responded had no idea of how the "Fair Tax would work. I am no expert but here is my response.
I mostly lurk, and rarely comment here on Real Town, but you have brought me out of the woodwork!
I believe that you and Jesse are talking about what is most often called "The Fair Tax".
I am no expert on the fair tax but I think that I have a decent understanding of it. It appears that some of the people commenting do not have a clue so I wanted to clarify as best as I can.
Before I even go into answering questions I want to make a point. Businesses don't pay taxes. Oh sure they write checks to the IRS but it is a cost of business, jut like labor, rent, or utilities. The cost of that expense comes from one of two places. The business can cut overhead ... more
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