Politics and Money

[shermann7]

Whether it is an Income Tax or the Fair tax...It is how the tax is structured...

The main benefit behind the Fair tax is that there are no deductions...Which means no tax shelters and loopholes for the Rich to take advantage of...The House Bill, as it is written, has a prebate built in which returns the estimated tax a poor family/person will pay every month...

In terms of the income tax, I favor a much larger standard deduction...Lets say 40,000.00...Which means each taxpayer will get their first 40,000 free of tax...

Shermann