I went a searching.
Look what I found!!
FAIR TAX FAQ!
Let me know what you think!
I sent it to Dan at work -- he's going to discuss it with his co-workers. So -- are their any cons to the FAIR TAX? What do all the people who have been working at the IRS do for jobs? No more tax returns to depend upon as a savings plan. LOL Hmmm...
ETA: Well -- would you look it there... I found the answer to my own question by reading the FAQ of the Fair Tax.
20. How does the FairTax affect income taxApparently those IRS people -- they have to get new jobs. LOL Well -- good for them.
preparers, accountants, and many
government employees? There are, of
course, still some people who are involved in
sales tax return preparation and sales tax
administration under the FairTax, but many
fewer than those involved with the income tax
FairTax Frequently Asked Questions
© 2007 Americans For Fair Taxation. All rights reserved.
Page 10 of 21
today. Those tax preparers, tax lawyers, and
Internal Revenue Service employees, who are
typically well educated and well equipped
with transferable skills, have to find other,
more productive work. The projected 10.5
percent growth in the economy during the first
year of the FairTax will provide plenty of new
jobs. But the heavy compliance costs of the
income tax are like an anchor holding back
economic growth. We have nothing to show
for the $265 billion (greater than the current
federal deficit of $205 billion) that we spend
each year measuring, tracking, sheltering,
documenting, and filing our annual income.
Surely these valuable labor and capital
resources can be employed more productively
– for example, in following the money trails
left by terrorist, drug, and other criminal
enterprises, rather than in tracking every
American wage earner.
I think I'll keep on reading -- see if I can learn anything else new today. You know what they say... "I learn something new every day."