"A switch to a sales tax is a tax on current wealth."
That criticism could be levelled at all consumption taxes, not just the FairTax. Therefore, it is interesting to see the point brought up by someone who claims that he favors a consumption tax.
That criticism could be levelled at all consumption taxes, not just the FairTax. Therefore, it is interesting to see the point brought up by someone who claims that he favors a consumption tax.Explain to me how $100,000 in a bank right now would be taxed under a flat tax.