Is it time to reconsider the Fair Tax before we drown ourselves in debt?

Econoblog

The Fair Tax will lead to increased economic efficiency by eliminating unnecessary taxes, time wasted filing taxes, money wasted filing taxes, time and money wasted by the government in tabulating taxes, auditing, preparing and mailing refunds, and so much more.

Consumers will receive a higher level of utility from every purchase they make and every dollar spent because the consumer will be empowered to directly decide where every last cent goes. If buying something at its market cost gives a person more utility than saving the money, the consumer will be able to do just that without having to consider–or forgetting to consider–the cost of any taxes. It places the full value of the tax directly in the consumer’s face every time he or she decides to spend money.

Likewise, people’s utility earned from working and getting paid will increase. If a person chooses to accept a job that…

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6 Comments

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