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The Real Tax Reform Question

The real question of any tax reform should be what is taxable, not what's the tax rate.

On the Colbert Report, Ron Paul said wants to eliminate the income tax and abolish the IRS. Mike Huckabee agrees and want to have a "Fair Tax", or national sales tax.

Would every purchase really be taxable under this "fair tax"? Would a single mother on welfare have to pay 23% sales tax on baby formula? Would you have to pay sales tax on the purchase of your primary residence? The Fair Tax people say yes, but you can see how easy it would be to start saying this or that should be exempt from sales tax. And even in the current form, the tax would exempt purchases for resale and the sale of used items.

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