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It's FAIR TAX TIME!...and we want to know if this is an inclusive tax, or an exclusive tax.
Well, it's not so easily defined, because like so many things that Fair Tax Legislation will bring to the hard working people of America, it will bring about an entirely new approach to how our government collects taxes.
To begin with, it's NOT an Income Tax, and will abolish the IRS...we like that!
Furthermore, and it's NOT a National Sales tax, at least in the common sense like how it's collected in most states...this would be considered exclusive; tacked on at the point of sale.
The Fair Tax (H.R.25) will not add taxes onto the price of the items purchased, in fact, the authors of the bill claim that prices will come down as result of the taxes being inclusive.
HOW WILL THAT HAPPEN?
Tune in, we have questions, too!
It's good to talk.