Fair Tax

Fellow 417 Area code denizen Perrie at Area417 reports that:

The Fair Tax Book is now #2 on Amazon’s top Sellers List. It started shipping yesterday–mine was waiting for me when I got home this evening, so I imagine I’ll start b!@gging on the Fair Tax next week.

I’ve written on the Fair Tax before and I don’t expect to read the book, so I’d suggest keeping an eye on Area417. Of course, if I see something noteable I’ll post it here.

Update: In comments I mentioned the incredibly bad idea of combining the Fair Tax with the hidden VAT that I had seen in a Robert Novak column. The column is here and while I wouldn’t say that Novak pushed the idea, he failed to make any note of the very serious drawbacks. He said, referring to the Fair Tax, “In fact, the plan is a work in progress with the possibility that the national sales tax could be reduced to as low as 13 percent or 10 percent by coupling it with a value-added tax in place of the corporate income tax.” In fact, it’s nothing of the sort. Fair Tax proponents have been pretty adamant in pointing out that the VAT is a hidden tax that shares many of the same drawbacks as the corporate income tax.

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