The Book Everyone Is Talking About
I recently bought The FairTax Book written by radio talk show host Neil Boortz and Congressman John Linder. For those of you unfamiliar with the FairTax, it is a proposal that would scrap the entire US tax code, abolish the IRS, and replace it with a national sales tax. The book is enjoyable, and pretty much on tune with what I expected. If I have more time later, I'll provide you with a longer book review. In the meantime, I did like this part [page 106]: bq. What happens after the income tax is gone and the FairTax becomes our reality? There are a hundred little answers, but the one big answer is the most important: growth. bq. Economists estimate that in the first year after the FairTax Act becomes law, the economy will grow by 10.5 percent. Exports will grow by 26 percent. And capital spending will increase by more than 70 percent. Increases in capital spending make the American worker more productive, and their paychecks increase in exact correspondence with that spending. For the week of August 21st, The FairTax Book is #1 on the New York Times best-sellers list. Considering the complexity of our current tax code, this should come as no surprise. People are warming up real quickly to this idea.
