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The FairTax Book | 
| Authors: Neal Boortz, John Linder
Publisher: William Morrow
Category: Book
List Price: $24.95
Buy New: $17.72
You Save: $7.23 (29%)
Rating:  1548 reviews
Sales Rank: 169566
Media: Hardcover
Number Of Items: 1
Pages: 208
Shipping Weight (lbs): 0.8
Dimensions (in): 8.3 x 5.4 x 1
ISBN: 0060875410
Dewey Decimal Number: 336.24150973
EAN: 9780060875411
Publication Date: August 2, 2005
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Product Description
Wouldn't you love to abolish the IRS . . . Keep all the money in your paycheck . . . Pay taxes on what you spend, not what you earn . . . And eliminate all the fraud, hassle, and waste of our current system? Then the FairTax is for you. In the face of the outlandish American tax burden, talk-radio firebrand Neal Boortz and Congressman John Linder are leading the charge to phase out our current, unfair system and enact the FairTax Plan -- replacing the federal income tax and withholding system with a simple 23 percent retail sales tax. This dramatic revision of the current system, which would eliminate the reviled IRS, has already caught fire in the American heartland, with more than 600,000 taxpayers signing on in support of the plan. As Boortz and Linder reveal in this first book on the FairTax, this radical but eminently sensible plan would end the annual national nightmare of filing income tax returns, while at the same time enlarging the federal tax base by collecting sales tax from every retail consumer in the country. The FairTax, they argue, would transform the fearsome bureaucracy of the IRS into a more transparent, accountable -- and equitable -- tax collection system. Endorsed by scores of leading economists -- and supported by a huge and growing grassroots movement -- the Fair Tax Plan could revolutionize the way America pays for itself.
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| Customer Reviews: Read 1543 more reviews...
 Beware of false reviews August 2, 2005
758 out of 846 found this review helpful
It is obvious that Wealthy American and Rational Georgian did not actually read this book before the entered their review.
After reading this book, I am amazed at how simple the idea really is. Do away with payroll taxes and the price of the item you are buying will drop. The idea of embedded taxes that we are paying under the current system never even came to mind before. I, as the end user, have to pay the payroll tax cost of every vender that touches that item. That cost is a pretty significant part of the total cost of the product. Harvard studies are showing 21% and higher depending on the item.
On top of getting rid of the embedded tax, I end up getting more in my paycheck and I get a pre-bate for the cost of living. Where is the negative? I started to some research on line to find out and have yet to find any real negative. I found plenty of false propaganda from those that have not fully reviewed the plan, but no substantiated negative.
The book itself is well written and easy to understand. My hats off to both John Linder and Neal Boortz to taking a pretty complex subject and making it so easy to understand.
I would recommend this book to anyone that is interested in the tax code and ideas on how we can change it.
Rebuttal of reviewers that obviously have not read the book August 3, 2005
155 out of 187 found this review helpful
Neal(no I, Mr. Kepner)responds to a review here from "georgialib", but it appears that "georgialib" is now all of a sudden called "RationalGeorgian". Hiding from your lies, sir?
So ... here we go with Hayden Kepner's critique of The FairTax Book:
The so-called FairTax is such a simplistic, nonsensical idea that it's hard to know where to start in criticizing it, but here goes:
1. The 23% Rate is a Lie. The book claims that the FairTax rate would be as low as 23% (on all goods a services, including new homes, cars medical treatments, insurance, rent, food, basically everything you spend money on to survive). But look at Boortz's own examples. An item that costs $100 pre-tax would cost $130 with the tax. That's a 30% tax rate any way you slice it (in addition to state sales taxes, which would boost the rate even higher). When they lie about the rate, how can you trust them with anything else? Also, the true tax rate would have to be to around 50%-60% in order to collect as much tax revenue as our current system does. Don't take my word for it, though, look at an objective source on this subject, such as the Brookings Institution webite.
Well, I co-authored the book, and for the life of me I can't find anywhere in the book where we say that an item that costs $100 before the tax would cost $130 after the tax. It's simply not there .. not anywhere. In fact, due to price reductions brought about by the elimination of embedded taxes in all consumer goods, the price after the FairTax would be pretty much the same as the price under the current tax system. What's the problem here? Why did Mr. Kepner find it necessary to lie about what is written in the book in order to critique it? He says "look at Boortz's own examples:" Well, go ahead and look You won't find that example in the book! Amazing, isn't it? Kepner says "When they lie about the rate, how can you trust them with anything else?" My question is when Kepner lies about what's in the book, how can you trust him with anything else?
Kepner also refers to a Brookings Institution article which says that the tax would have to be 50 to 60%. Sorry, but that's not the FairTax plan. Brookings is talking about making many consumer items exempt from the tax ... food, clothing, medicines. Brookings changes the provisions of the FairTax in other ways to arrive at that higher tax figure. That's what the prebate is for. Again, Mr. Kepner tries to mislead. Did he do so out of ignorance, or malice? Wonder why?
2. Tax avoidance would skyrocket. Boortz claims the FairTax would eliminate tax avoidance. Wrong! Here's a simple example. Let's say I'm Neil Boortz and I want to buy a $200,000 yacht. Under the FairTax plan, I'd need to pay at least $60,000 in taxes to buy that yacht if I purchase it in the US. But if I go to the Bahamas and buy it, I don't pay any tax. Let's see, do I be a good citizen and pay the $60,000, or do I vacation to the Bahamas, buy the yacht there and pocket the $60,000? Gee, tough decision, but I know what ol' Neil would do. Same thing with expensive jewelery, vacations (why ski in Colorado and pay taxes on lift tickets, hotel and restaurants when you can ski tax free in Canada), you name it.
Once again ... either an intentional lie or honest misrepresentation. Nowhere in The FairTax Book do we say that "the FairTax would eliminate tax avoidance." In fact, we say just the opposite. We note that some degree of avoidance is a certainty ... just as it is under out present system. What was it that Kepner said? Oh ... I think it was something like "When they lie about the rate, how can you trust them with anything else?" Well .. here's another Kepner lie. What does that say about the rest of his critique? Now ... about that $200,000 yacht. First problem. $200,000 doesn't buy much more than a mid-sized Boston Whaler fishing boat. Pricing aside, If I were to go to the Bahamas and buy that yacht, as soon as I bring it into this country I pay the tax. Ditto for trying to buy an airplane in Switzerland, a car in Germany, Diamonds in South Africa ... whatever. I guess Mr. Kepner hasn't heard of the U.S. Customs Service. Not surprised. Also .. since when is Canada tax free?
3. It would destroy our economy. Remember, under Boortz's plan, virtually all purchases of new items by individuals would be subject to the FairTax. So when you go to buy a brand new house for $300,000, you now need to pay at least $90,000 in taxes. Are you going to buy a new house and fork over $90,000 in taxes, or are you going to buy a used home and not pay any taxes? Easy choice. Good-bye, construction jobs. Same with new cars and consumer goods. Nobody will buy new. Good-bye, Detroit. Good-bye, Wal-Mart (which might be a good thing).
OK ... now we know that Kepner hasn't read the book and hasn't read H.R. 25, the FairTax Act. The FairTax is inclusive in the price of a consumer item. When you buy a $300,000 home ... the price is $300,000. No tax is added. The tax is inclusive in the price. Further, a $300,000 home before the FairTax will cost approximately the same after the FairTax. Why? Because the embedded taxes incurred in the construction of that home ... taxes that will be removed from the pricing ... will be gone. Poor Heyden Kepner. That's strike three.
4. More tax avoidance. Remember, businesses aren't subject to the FairTax for their "investments". So I set up an LLC, buy a vacation home, and rent it out a couple nights a year. Bingo! It's now an "investment". No tax. Hey, why don't I do the same thing with my primary residence? After all, there won't be any IRS looking over my shoulder, will there Neil? In fact, maybe everything I buy from now on (clothes, restaurant meals, cars) will be for my LLC. Hey, good thing there won't be any IRS around to make sure these aren't for personal use.
That's called tax avoidance, Hayden. It's illegal now .. it will be illegal then. That same tax avoidance scheme is available to you right now. Why don't you get out there and try it? Let us know how it works out. It seems that Hayden Kepner's critique gets weaker as we go along.
5. Even more tax avoidance. Is a drug dealer going to pay taxes on the drugs he sells? What about deli's or retaurants that operate a cash business. Are they suddenly going to report all of their sales and pay taxes on them? Uh, let me guess.
These delis (there's no apostrophe, Hayden) and restaurants (that's the proper spelling) can do that now. Do they? Yes ... some do. Most don't Again, there will be enforcement of the rules and regulations of the FairTax. Running out of steam, aren't you Mr. Kepner?
6. Fairness. I got news for you, Boortz. Poor and middle class people spend a much higher percentage of their income than do the rich. They need to, just to get by. The rich, on the other hand, have plenty of money left over to save and invest. So, by definition, the FairTax would fall disproportionaly harder on the poor and middle class. Maybe Marie Antoinette would think that's fair, but most American's don't. 'Nuff said about that.
The president's tax reform commission scored all of the proposals for tax reform, including the FairTax. The commission reported that the FairTax was the only tax reform proposal out there that completely relieves the poor of the burden of paying federal taxes. The only one. How many strikes does that make it now for Kepner? Not a very good at bat.
7. One good thing: No corporate tax. The only redeeming value of the FairTax system would be the elimination of corporate income tax. That in itself would make our corporations more competitive by eliminating the incredible expenses they incur in accounting costs as well as in paying the corporate income tax itself (the dreaded "imbedded taxes" as the book calls them). But we could accomplish the same thing under our current system by simply abolishing the corporate income tax today and taxing dividends and capital gains at the same rate we tax ordinary income (i.e., wages). After all, if the corporate income tax is eliminated, corporations' share prices will go up and/or they will pay out more in dividends. So what do we need a corporate income tax for? But we don't need to throw out the personal income tax just to eliminate the corporate tax.
Mr. Kepner doesn't recognize that all corporate taxes are paid by individuals anyway ... consumers, employees or shareholders. But then by now we understand that he hasn't read the book; so, no surprise here either.
Come on, Congress! Give us a simple, mildly progressive income tax that applies to all forms of income, without all the complicated deductions and exemptions, then all of our tax rates would be lower and ridiculous ideas such as the FairTax wouldn't have any appeal whatsoever. But with the current group of folks running Congress, I won't hold my breath waiting for anything rational to make its way into law anytime soon.
OK. Enough for one post. But you get the idea. THIS IS A STUPID PROPOSAL AND ANYONE WITH AN OUNCE OF SENSE KNOWS IT.
We'll let the readers decide, Mr. Kepner ... and that's a group that doesn't include yourself.
Signed,
A Boortz Show listener and Nealz Nuze reader
Get Ready for Tax Reform Debate Season! August 3, 2005
90 out of 106 found this review helpful
As you undoubtedly know, the current federal tax system is broken. It:
- is unfair, costly, confusing, inefficient, and time consuming
- punishes hard work and thrift
- is harmful to the economy by raising the price of consumer goods 20% to 30%
- allows many to avoid paying their fair share
- violates the 4th Amendment protecting the security of our "houses, papers, and effects"
The FairTax (HR-25/SB-25) ia a great solution to these problems and this book explains why better than anything else to date. Please get a copy so you will be informed as the dabate about tax reform heats up in the months ahead.
It will explain how we can:
- repeal all federal income taxes, corporate income taxes, self-employment taxes, capital gains taxes, gift taxes, and death taxes
- keep 100% of our paychecks and repeal all payroll withholding taxes
- abolish the intrusive and coercive IRS as we know it and save $250 Billion nationally in bureaucracy costs
- tax everyone fairly and simply
- give an immediate pay raise to everyone who is below the poverty level
- reduce the cost of goods and services by 20% to 30% causing little or no net gain in the price of goods when the tax is added
- lower overall tax rates for lower and middle income Americans
- effectively tax the underground, cash economy
- eliminate all IRS tax forms and the professional fees needed to prepare them
- stop billions of dollars spent by influencer peddlers and deal makers lobbying congress for special tax credits
- rescue Social Security from its developing funding shortfall
- create many new jobs by boosting our GDP by approximately 10.5% (according to a Harvard economist)
- improve our foreign trade deficit by making us more competitive and attracting new business to America
- allow individuals to control the level of tax they pay
- prove that THIS form of National Retail Sales Tax (NRST) is better than a Flat Tax
Get on board an economic revolution in the making!
A closed mind can't grasp the concepts, is yours open? August 3, 2005
65 out of 71 found this review helpful
I am amazed at the ignorance of some reviewers. Some intentionally lie (or misstate the truth through ignorance), and some ask questions that are easily answered by anyone who has READ the book.
Therefore, I believe that most of the negative responses come from knee-jerk persons who are merely being negative out of their partisan love of taxation. I am not calling them "Liberals", since that isn't quite encompassing enough for all of their philosophies. After all, you can be "liberal" and not favor "progressive taxation". Taxation has been taught and promoted as a necessity for so long, that I believe some people mistakingly believe it has always been a part of this country. Few know that it was a temporary measure, and started at just 1%. The need for it in today's world is muddy at best - the "need" gets created every year, but somehow whatever is received is never enough.
What would the government do without the IRS? Suppose the Supreme Court found some new argument to eliminate the IRS. What would the Federal Government do for income? I bet they'd implement something like the Fair Tax Plan. After all, they will still want to spend as much money as possible, to buy as many votes as possible.
I know of many people of sound mind who believe that the IRS "is just too big" to ever be controlled or eliminated. This is logic that I just can't grasp. If it can be created, it can be destroyed. If this country is to survive, it needs to grow. The IRS isn't a "growing" strategy. It isn't helping people grow, it's punishing people. It is the cloud that blocks the sun, not the water that nourishes the plant.
I know that supporters of high taxation (though many of its supporters pay very little or no taxes personally) don't want to see their support system modified, but they're looking at the short picture. If prices don't change, they won't be affected, but the benefits to them from increased economic productivity will have long-lasting effects. They are looking at the cost of their rent this month, and not their ability to buy a home next year. This short-sighted, partisan idiocy, is exactly what the politicians count on. Your ignorance allows them to fleece you each year out of your future. The check you get each year is nothing compared the economic gains you could receive in a free-market economy not hampered by high taxation. The job you have today could be an amazing career down the road.
But if you can't open your mind, you will never see the bigger picture, or what is possible in an alternative future.
This book is about what we can do if we stop punishing success, and start rewarding it. If you slam this book, then you don't expect success in your own life. Or, you're too lazy to work on it.
I used to be the lazy type, always eager to excuse my failures. I understand the way the people think who slam this book - I used to be one of you. But then I realized that what I was doing wasn't working. Success doesn't come from envy of the rich - it comes from the success of hard work.
The Fair Tax Plan isn't easy - and nothing good ever is. It will be tough to grasp for many, but that doesn't mean it isn't important. Physics is tough to grasp, but I wouldn't want Gravity to stop working, just because so few people understand it.
If you really want to understand this plan, then read the book. Don't lie about it, don't create your impression before you read it. Just read it. And think to yourself what could happen if you started making 40% more each paycheck. Heck, even 20% more!
What would you do with more money? Give it to the government, or save it for your family? Or, even get a family! :-)
Book is everything it should be August 2, 2005
62 out of 72 found this review helpful
Boortz and Linder do an excellent job of explaining this concept. I have spent a great deal of time listening to Boortz talk about the concept and researched it myself. This is a truly exciting idea and would fix a great deal of the problems we have in this country. Please don't let Baron confuse the issue. His review contains some misinformation. The proposed 23% sales tax is a FEDERAL tax. Apparently, the state/local sales tax where Baron lives is 6.75%. The 23% will be in addition to the current 6.75% state/local sales tax, it is not part of the 23%. You will still have your state/local sales tax, however much it is, plus 23% for the fairtax. I also have no idea where Baron gets the idea that the retailer will get 6.75% of the tax collected. This is a complete falsehood. The retailer will get a small percentage, somewhere around 0.25%. Anyway, the book is outstanding and the fairtax is even better. Boortz and Linder do make a somewhat dry subject entertaining.
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