The Fair Tax

[Marc Littmann]

This is my first forum question, so thought I'd start out with something light, such as tax reform. I just re-read "The Fair Tax Book" by Neil Boortz and former Congressman Hal Linder. Has anyone read this book yet?

As I read through and try to learn as much as I can about real estate investing, I keep coming across posts and articles about depreciation, property taxes and investing with Uncle Sam in mind. But the bottom line for tax reform (a la the Fair Tax) is to fundamentally do away with the tremendous drag that our government places on wealth creation to fund its offerings, rather than to place the burden on consumption.

Given the IRS scandal this summer and the actual abuses carried out in the name of political favoritism, this certainly would be a good time to change the way taxation works in our country. A politician set out 5 years ago to fundamentally transform the Unites States of America. He would have turned the economy around and created much more prosperity had he sought to fundamentally transform the way we collect taxes in America.

If you are new to the discusson of tax reform and want an insightful and, dare I say entertaining book about taxation and the history of the income tax, check out The Fair Tax Book.

This link has more on the FairTax guys:

www.fairtax.org

My ultimate question would be, given a hypothetical that we were to implement the Fair Tax next year, what might that do for the bottom lines for real estate investors in this country?

thanks for all the wonderful articles and posts--I am learning a ton so far!

Marc