![The Deduction artwork](https://is5-ssl.mzstatic.com/image/thumb/Podcasts114/v4/ff/e9/ba/ffe9baf9-7c83-d0a0-add4-f5201ac818ae/mza_17866615073472909128.jpg/100x100bb.jpg)
The FairTax?
The Deduction
English - May 11, 2023 08:00 - 30 minutes - 20.7 MB - ★★★ - 1 ratingGovernment Business Non-Profit tax taxes tax policy economics macroeconomics finance public finance accounting government politics Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
The FairTax, on paper, sounds simple: just replace all major sources of the federal government’s revenue—the individual income tax, corporate income tax, estate and gift taxes, and payroll tax—with a national sales tax.
But when you pull back the curtains, this proposal leads to more questions than answers.
Alan Cole, senior economist, makes his Deduction debut to talk us through why this old idea is gaining attention this year. He breaks down what the FairTax shows us about the debate between income taxes versus consumption taxes, and why “simple solutions” appeal to so many policymakers for how best to tax an increasingly complex economy.
Links:
https://taxfoundation.org/fair-tax-national-sales-tax/
https://taxfoundation.org/fairtax-consumption-taxes/
https://taxfoundation.org/tax-basics/value-added-tax-vat/
Follow us!
https://twitter.com/TaxFoundation
https://twitter.com/deductionpod
https://twitter.com/AlanMCole
https://twitter.com/solisjesse
Follow us!
https://twitter.com/TaxFoundation
https://twitter.com/deductionpod
Support the show