8-1 Discussion: Is FAIR Tax the Right Fix? Discussion Topic

Task: Reply to this topic


Starts Sep 28, 2019 11:59 PM

For

this discussion, you will evaluate the impact on current tax

minimization strategies of converting the U.S. tax system to a national

sales tax. These strategies include attempts to switch activities from

one period to the next, change the type of an activity, and shift income

among taxpayers.

Critics of the current tax system allege that

taxpayers can use strategies to avoid tax obligations, and that the

current system favors certain taxpayers over others. One proposed

alternative is a national sales tax. For this discussion, read the open

letter to Congress in support of the Fair tax in the Required Resources

for the module. Then, consider the consequences of converting the

current United States income tax system to a national sales tax on sales

of goods and services. Under the new system, certain necessities like

food would be exempted from taxation, and low-income households would be

granted tax refunds. Would such a tax system eliminate incentives to

shift activities (a) from one period to the next, (b) from one type to

another, and (c) from one pocket to another? Explain, citing your

sources.

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