February 18th, 2006

PTSF

FairTax

http://www.fairtax.org/
Has anyone else looked into this? Are there any major drawbacks? It seems to accomplish most of the major goals I have for a tax overhaul. I've also been told that it was introduced in both the senate and house in 2005, which seems like a fairly major milestone. The quicky overview is: replace all federal taxes with one flat 23% sales tax, to be collected by the states (SS tax, income tax, medicare tax, heck for me that's better than 23% right there, not counting the 6% of ss "my employer pays").
Thoughts? Comments? Suggestions? Reasons not to call my senators and representatives and ask why they don't support it?