04/26/2011 08:52:00 AM EST
Nothing Fair About "Fair Tax Acts"
There are "Fair Tax" proposals being floated in several states - the most serious is in Missouri. The latest is in Louisiana. Some legislators have introduced the Louisiana Fair Tax Act (HB 239) which will repeal all personal and corporate income taxes as well as the franchise tax. It will replace the revenue with an expanded broad based sales tax. The goal of the legislation is to "provide for a more equitable and fair distribution of taxes on the citizens of Louisiana." The sponsors want to make this about fairness. Really? They want to replace a mildly progressive tax with a decidedly regressive tax and make the argument about fairness?...
View TaxAnalysts' David Brunori's opinion in its entirety on TAX.com.
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