Actually, Walmart, the icon of retail business, has already pledged that if the Fair Tax were inacted, they would drop their prices by 23% the next day. I don't have a link to that statement so I can't substatiate the claim.Originally posted by Whitemarsh
Looks like they favor a federal sales tax. I bet the big corporations and the state governments will really fight that idea.
I like your idea but it was already tried. In 1987 our tax code was reduced to a two-tier flat tax. 15% and 28% (or something like that). Since then, there have been over 12,000 revisions to the IRS tax code. It's back to being just as bloated as it ever was, and, argueably, moreso.Originally posted by Big John
You know if everyone payed there share a flat 5% or something like that and put a ceiling on deductions the problems with budgets and social security would go away.