I had an interesting discussion with my son this weekend about the fair tax initiative that would do away with federal income tax (and the IRS) and replace it with a value added tax of as much as 23% on most purchases . I wasn’t able to articulate all the reasons this sounds like a great idea, other than it really is the fairest way to tax (you have control over ALL your hard earned dollars, how you choose to spend them determines how much you pay in taxes). In fact, it makes so much sense, I can’t imagine Congress would even considering passing the necessary legislation.

Anyway, this article over at The Wide Awakes explains it all in an easily understood fashion. Please read it and let me know what you think–why this would or would not work and whether you would support legislation to make it happen.