From Deseret News archives:
Legislators hear pitch for FairTax
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Under the FairTax, providers of new goods and services would simply collect the 23 percent tax and pass it on to the federal government.
But some experts say the FairTax is regressive, because families with lower incomes spend a larger percentage of their earnings on goods and services, said Bryant Howe, assistant director of the Office of Legislative Research and General Counsel.
Other experts argue that the FairTax promotes savings and investment, Howe said.
Wright said the FairTax is a tax people want to have once they understand it.
It takes many of the burdens from small-business owners and increases their efficiency, Wright said.
Currently, California, Florida, Illinois, Michigan, New York, Ohio, South Carolina and Texas are studying how to apply the tax on a state level.
In Texas, where the most extensive study has begun, a 7.9 percent to 10.9 percent FairTax could replace state sales tax revenue and varying percentages of property tax revenue
E-mail: jdougherty@desnews.com
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Recent comments
I love the FairTax:
1) Bring home 100% of my paycheck!
2)
Never...
Freedom Alliance | July 10, 2008 at 9:52 p.m.
John Blixx,
For all your complaining about the media's coverage you...
Critical analysis | July 10, 2008 at 9:34 p.m.
Re: Fairtax Fraud
You mean the Fairtax would encourage good...
MikeinLogan | July 10, 2008 at 9:02 p.m.
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