Economics @ ITT

Is it time to dump the income tax?

Posted in economics, Taxation by ittecon on September 7, 2012

With U.S. unemployment at a persistent 8.3 percent since January and the national economy hovering at a meager growth rate of 1 to 2 percent, it is clear that American business needs a boost.

Does this mean it is time to ditch the income tax in favour of so-called Fair Tax? No. Fair Tax is a regressive wet dream by Conservatives, especially the more affluent among them precisely because it is regressive.

via It’s time to dump the income tax – Opinion – Crain’s Chicago Business.

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