Ed Robb
Shocking Development: Warm and Fuzzy "Fair Tax" Promises Based On Fuzzy Math
Submitted by .Sean on January 28, 2010 - 2:46pmBy their own admission, proponents of replacing the state income and corporate earnings taxes with new and higher sales taxes will have to jack up the sales tax by far more than the previously promised.
At a legislative hearing today, Rep. Ed Robb (R-Columbia) acknowledged that the so-called "Fair Tax" would actually increase sales taxes by at least twice what he'd estimated, from the current 4.225% to at least 6-6.2%. And even that seems low, as the Missouri Budget Project estimates that this huge change in state tax policy would require sales taxes closer to 11% just to break even.
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