More About a Consumption Tax and Immigration Reform

In my last post, I outlined how we could welcome immigration reform while reforming the tax structure as a buffer to the costs.  I also mentioned a consumption tax such as the Fair Tax.  The Fair Tax was introduced this past week with more supporters in the past (Reed, 2015).  Whether this is the consumption tax that we need or it could be revised, it is important that each of us explore this option.  One could refer to my previous blog post to a link outlining the pros and cons.  Many of you are probably worrying about the percentage of a consumption tax.  Keep in mind taxable items have a built in tax to cover corporate taxes which would go away.  A real consumption tax would rid corporations of most taxes so items would also cost less.  As a member of the middle class we cannot continue to carry everyone’s burden.  One thing that caught my interest was the recent suggestion that we fund free community college for two years for those eligible.  That is a great idea.  Why not fund our children and reduce aid to countries that are not our friends.  Then I thought about the cost to federal and state government.  Again that would fall to taxes on the middle class.  A consumption tax would involve all of us.  Please review the Fair Tax.  I will again include the link for the pros and cons on this blog entry as well.  Please ask questions and offer feedback.  This and all new ideas are a work in progress.

 

 

Amdeo, K. (2011, November 30). Fair Tax. Retrieved January 5, 2015, from http://useconomy.about.com/od/fiscalpolicy/p/Fair_Tax.htm

Reed, K. (2015, January 7). Political Notebook: Fair Tax Introduced With Record Support. Retrieved January 7, 2015, from http://www.gwinnettdailypost.com/news/2015/jan/07/political-notebook-fairtax-introduced-wit