Quote:The topic title says it all.  Taxes have been brought up in other threads, so perhaps a discussion on different ideas regarding taxes is in order.

 

I personally am a big supporter of going to a consumption based system of taxation, specifically The Fair Tax Act rather than an income based solution.  This would solve several things, but off the top of my head here are a few major points.

 

1.  EVERYBODY would pay their "fair share" based on what they spend for goods and services.  That means that not only the rich person buying a fancy new car or yacht, but also the drug dealer buying a new car or new rims for said car.  The same could be said of the prostitute buying clothes, makeup, etc. which leads me to my second point.

 

2.  Those in the "underground economy" would also be contributing.  Not only drug dealers, thieves or prostitutes, but also the MANY illegal aliens in our country that need to buy things.

 

3.  It would abolish much if not all of the IRS.

 

Discuss.