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TWO BOSTON University economists, Laurence Kotlikoff and David Rapson, recently compared our current tax system with the proposed "FairTax"--a 23 percent federal sales tax, intended to replace all existing federal income, payroll, estate, and gift taxes. Some--a federal sales tax, for example--are more problematic. The Goods and Services Tax (GST) is a federal sales tax charged at the rate of 7%. |
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