Letter to the Editor: Not fair
BY Jo Jones, Edmond
Friday, December 07, 2012
12/07/12 at 2:09 AM
Tony Leach tells us ("Replace Tax system," Nov. 29) that he proposes "we remove all taxes on productivity and success and move it to consumption." This is sometimes called the "fair tax." The problem is that it taxes savers twice. If you have $1,000 in a savings account, you paid income taxes when you earned the money. The "fair tax" would tax you again when you withdraw the money to buy something.
How is that fair?
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