Tax reform

Fair & Balanced graphic used in 2005

Fair & Balanced graphic used in 2005 (Photo credit: Wikipedia)

Later this year Congress may take up the issue of tax reform. I specifically oppose the so-called FAIR tax, which is a consumption tax with exemptions for the poor. Not only is it regressive, but proponents want to set the rate at such a level that they claim it could replace income taxes, estate taxes, capital gains taxes and the IRS. Don’t be fooled by the misnamed FAIR tax. It is a regressive tax that is as fair and balanced as FOX News.