Tax Money

I'll save some of you the trouble of viewing the comments to earlier posts by quoting the comments - and where appropriate my posting that gives rise to the comment.

In response to my column called It Is our Money. Michelle Peterson writes:

"However, I'm in favor of a tax overhaul. Why not convert to a Fair Tax system? Taxes are paid up front on goods and services. A 23% tax on all new goods and services. There is no need to file income taxes. More revenue would be collected because everyone uses goods and services. Fair Tax brings transperancy to collecting tax paying dollars."

Two thoughts and I would love to hear more.  First is that I don't think that there is anyone who is not in favor of a tax overhaul.  I've never met a soul who likes the current tax system - though there are certainly a large number of accountants and tax attorneys whose livelihood would be in jeopardy if a system like the National Sales Tax were implemented.

Second, I've read the book The Fair Tax and certainly see its appeal.  I'm not opposed to a radical simplification of the tax system.  My concern at this point is that so many economists on both sides of the political spectrum label the plan as "wacky."  For some time, I have been hoping to that such economic voices would address the specifics of the plan, and I would like to invite everyone to join in me in calling for a debate based on the science of the plan.  Michelle, do you have anything?