The FairTax Act

In researching everyone's take on the horribly miscalculated tax rebate plan for the $85 billion to bailout AIG, I ran across something that I think really needs to be considered.....The FairTax Act. This plan actually makes LOTS of sense and could possibly end a fair percentage of the corruptness which revolves around Federal taxation. Keep your entire paycheck and only pay taxes for the items that you purchase. A plan like this would allow the penny pinchers to invest the money that they would normally spend in income taxes. Not everyone has the willpower to due this, but those that do could definitely come out ahead and it could possibly increase small business development.

Of course, I definitely need to research this more, but wanted to mention it to those of you interested in alternatives to our current situation.