FairTax System?

Question

Can someone explain what the FairTax system is in a nutshell and what are its pros/cons?

Answer 1

What is the FairTax?

The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including:

    * A progressive national retail sales tax.

    * A prebate to ensure no American pays federal taxes on spending up to the poverty level.

    * Dollar-for-dollar federal revenue neutrality.

    * Repeal of the 16th Amendment through companion legislation.

http://www.fairtax.org/site/PageServer

Pros and Cons of the Fair Tax:

http://www.karlonia.com/2007/04/16/fair-...