FairTax

[Mr JP Fugley]

There is a finite amount that Rich People spend, and the rest gets saved/invested... all this money will not be taxed, as it is now.

The total percentage of income paid as taxation therefore goes up in the Lower Paid, and down for the Higher Paid.

The burdon of Taxation falls more upon the lower paid, the ones that need to spend all their income just to survive.


I'd rather they took it all as Income Tax... i then know the rest of its mine. Can't stand stealth taxes.

The phrase "stealth tax" is pretty much a meaningless soundbite. Everyone knows what VAT is, or Excise Duty for that matter.

However I agree with the rest of what you said.

[tracydani3]

Some of the benefits as far as the tax is concerned would be that, overall the average persons taxes would be lower( so they say anyway).

This would be possible because everyone would pay taxes. Including those who work under the table and do not report income, legal or not. Tourists, drug dealers, whoever because it would be a tax on any new product or service regardless.

As I said, I am new to it myself so haven't really learned enough to decide this is the way or not, but it makes more sense to me then our current system that takes a semi serious education, constant updating etc. just to have any idea of what is really happening within it.

[Mr JP Fugley]

This would be possible because everyone would pay taxes. Including those who work under the table and do not report income, legal or not. Tourists, drug dealers, whoever because it would be a tax on any new product or service regardless.

Good point, never thought of that.

I still don't agree with the concept, but I hadn't thought of that particular angle.