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Flat tax wouldn't be fair for savers

Published: December 14, 2012

Jim McLaughlin (Your Views, Dec. 9) tells us that under the fair tax, “The fairness revolves around the fact that everyone would pay a flat sales tax on the goods they buy, minus food and medicine.” The problem is that this plan will tax savers twice. If you have $1,000 in a savings account, you paid income tax when you earned it, and you're taxed on the interest every year. Under the “fair tax,” you'll be taxed again when you draw it out to spend it. How's that fair?

Jo Jones, Edmond


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