Interesting Points Made in CNN FairTax Debate
August 21, 2008
FairTaxBlog summarizes the arguments made in a recent CNN-moderated debate over the FairTax that is expected to be televised soon. For example:
7. Linder kept saying that prices would not rise under the FairTax. I said that his own economists say otherwise, that prices will in fact rise under the FairTax, citing Kotlikoff and BHI. He said “those aren’t my economists.”
8. Boortz/Linder said the FairTax was not regressive due to the prebate. Bookman tried to make the point that the FairTax burden would fall most heavily on the middle class and retirees, though I’m not sure the point really got across.
9. Boortz/Linder said that the $13 trillion in overseas dollars would be returned. Buckley, who’s a CPA, said that most of those dollars had already been retuned due to a recent change in the Tax Code. There was some back and forth over this point.
The rest here.
Read our write-up of a FairTax debate back in July here. Check out these resources on the FairTax, both pro and con, here.