Link Banana

At Slate, economist Steven Landsburg argue that Mike Huckabee’s FairTax plan is actually good. The highlights of the plan, for those who don’t know, are an end to the IRS and income taxes, and an introduction of a 30% sales tax. The piece contains a fair bit of shirking-conventional-wisdom-because-I-can, but maybe the revisionism is necessary for a plan that has been so universally criticized (even by me).

Bottom line: Unlimited IRAs, coupled with somewhat higher tax rates, have advantages and disadvantages, but the advantages are bigger. And whatever can be said about unlimited IRAs coupled with somewhat higher tax rates can equally be said of a national sales tax.